bank rates

Free Checking Deal: Grab A $100 Bonus

pen on top of a checkbook and checkbook registerFirst Trade Union Bank is back with a $100 free checking account bonus, but it’s not as sweet a deal as this predominantely online bank once offered.

We last featured a signup bonus deal from this Boston-based bank in late 2011. Back then, all you had to do to earn 100 bucks was open the account and make one direct deposit.

Now, the bank will deposit $10 in your FT Checking Account each month for up to 10 months when a direct deposit of at least $100 lands in your account.

This deal is nationally available, but you’ll have to open an account with a $100 minimum deposit no later than May 31.

Then you’ll need to have at least one direct deposit hit your account by June 30. If you do that, you’ll have a $10 bonus deposited into your account within 60 days. The direct deposit must be of your paycheck, pension check or government benefit check.

Chart showing the percentage of banks and credit unions with free checking.The FT Checking Account carries no monthly fees, but you need to sign up for eStatements and online banking and receive a MasterMoney debit card.

Another nice perk: ATM use everywhere is free. The bank will rebate all fees charged by other banks.

Your first set of checks is free, too.

And, if you have at least $1,000 in your account, you’ll earn interest of 0.05% APY.

The bonus offer is not available to anyone who opened a checking account in 2011, 2012 or 2013 that qualified for a $100 promotion.

First Trade Union is primarily an online bank, but it has one office in Boston and one in Hyde Park, N.Y.

For more information, visit www.ftub.com or call 800-242-0272.

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