PenFed Credit Union is offering a bonus of up to $300 when you open a new PenFed checking account and make deposits that reach one of two balance levels. Details below!
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PenFed $300 Checking Account Bonus
Earn up to $300 when you open a new PenFed Free Checking or Access America Checking account and make deposits from an external account to reach the balance level for the promotion.
Step-by-Step Directions To Earn Checking Bonus
- Open a new PenFed Checking account by November 28, 2025.
- Make deposits from November 3, 2025 until November 28, 2025 from an external account into your PenFed Checking account to reach the balance level for the promotion.
- Maintain the required minimum daily balance level (see table below) in your PenFed Checking account until March 31, 2026. The cash bonus will be deposited in your account by May 29, 2026.
| Deposit | Bonus |
| $15,000 | $225 |
| $20,000 | $300 |
If you need to withdraw some of your funds before March 31, 2026, just make sure your daily balance stays above the threshold amount in the above chart to receive the bonus.
Offer Details
Availability: Nationwide
Expiration: 11/28/2026
Household Limit: None
Direct Deposit Required: No
Soft/Hard Pull: Soft
Early Account Termination Fee: None
Ninja Note: The offer terms state that “this exclusive Bonus Offer is only available for the original recipient and cannot be shared or made eligible beyond the original recipient.” However, the offer is also appearing in Google searches so it appears to be available to the public. We reached out to a PenFed banker and he was confident the offer was open to everyone.
Offer Terms & Conditions
- During the Offer Period, open a PenFed Free checking or Access America checking account and make deposits from an external account into your PenFed Checking account to reach the balance level for the promotion.
- External funds are considered any “new money” deposited into your account from an account not affiliated with PenFed.
- Funds transferred internally within PenFed accounts do not qualify for this offer.
- During the Promotion Period, your daily balance level must stay above the threshold amount on the chart to receive the bonus. If the daily balance falls below the balance level your bonus amount will be decreased, or you may not qualify for the bonus.
- Your promotional bonus will be reported in your year-end Form 1099-INT as taxable income. To remain eligible, your checking account must stay open and be in good standing to receive the bonus. Maximum bonus received is $150 per member.
- Your bonus will be paid to your checking account, please allow up to 60 days for the Bonus to appear in your account.
- This exclusive Bonus Offer is only available for the original recipient and cannot be shared or made eligible beyond the original recipient.
Avoiding PenFed Checking Account Fees
There are no monthly fees to worry about with the PenFed Access America Checking account.
The Bottom Line
This is an easy bonus if you have the available funds, and unlike most checking account bonuses, this promotion doesn’t require direct deposits.
I’d probably do the Free Checking account since it has no minimum balances or monthly maintenance fees.
The PenFed Access America Checking account has a monthly fee that can be waived in multiple ways. It also earns interest, which is also rare for a free checking account. The rates aren’t high though – you’d earn 0.35% APY for accounts with daily balances between $20k-$50k and a monthly direct deposit of $500 or more, or just 0.15% APY for accounts with a daily balance below $20k.
So I would put just enough money to earn the bonus here and plunk the rest of your short-term cash in a high-yield savings account.
