Consumer complaint received 2024-01-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Didn't receive terms that were advertised
Company: First Technology Federal Credit Union
State: PA

Complaint narrative:
I opened an account with First Tech Federal Credit Union on XX/XX/year> through the " new2023 promotion ''. I met the requirements and I didn't receive the promotion as advertised. I've been receiving the direct deposits of $ XXXX + per month from my employer and now the bank wants to see my paystubs. The terms didn't mention anything about having to show paystubs. 
I called First Tech on XX/XX/XXXX to check on the status of the promotion. The representative verified that I met the requirements of the promotion and that I will receive it at the end of the month. I was informed that there was a internal glitch with the promotion code that other customers had the same issue getting the bonus. Later, that day I received a secure message through the portal indicating that I didn't meet the requirements. On XX/XX/XXXX, I called First Tech again and was told that I need to provide my paystubs. Below are the terms of the promotion https : //www.firsttechfed.com/pages/depp/simplify-your-banking-life promo-new2023 Offer valid for new members with memberships established between XXXX and XXXX. First Tech employees are not eligible. Individuals are considered new members if they have not been the primary account owner on a Membership Savings account within the previous 18 months. Credit Union membership is established by opening a Membership Savings account, is required prior to opening any other type of account, and is subject to approval. Fees could reduce earnings on the account. Participant is defined as 18 years of age or older and the primary account owner and/or borrower on the eligible accounts. New share accounts must be personal accounts. Fiduciary, trust, business, organization, or Health Savings accounts are not eligible. Participant can be enrolled in the promotion by entering the promotion code New2023 on a new membership application, by speaking with a representative, or by submitting the enrollment form provided via email ( Enrollment ). Enrollment must occur within 30 calendar days of membership establishment. In order to receive any bonus payout, in addition to satisfying the payout conditions set forth in this disclosure, the Membership Savings account must be in good standing ( not in default, closed, inactive, or otherwise not in good standing ) during the period of time commencing with Enrollment and ending with the applicable date of payout. Bonuses will be considered dividends and may be reported on IRS form 1099-INT. Any inquiries or disputes must be received by XXXX. 

2 New Direct Deposit Offer : New direct deposit must occur at least once per calendar month from the Participants employer payroll into any account of which the Participant is the primary account owner. Direct deposits from a non-employer payroll source do not qualify. The monthly aggregate amount of all qualifying direct deposits must equal to at least {$1000.00} to earn the {$200.00} bonus. Initial direct deposit transaction must take place within 60 calendar days of Enrollment. During the period of time commencing with Enrollment and ending 120 calendar days after Enrollment ( Enrollment Period ), at least one direct deposit transaction must occur each calendar month for a minimum of three months. ( EX. If a members Enrollment is XXXX, first direct deposit transaction must occur by XXXX, with additional required direct deposits occurring at least once in each subsequent calendar month following the month in which the initial direct deposit is made. Last direct deposit must be received by XXXX. ) Only the Participant will receive credit for the direct deposits. Any qualifying bonus will be deposited to the Participants Membership Savings account the first week following the Enrollment Period. 

3 New Member Spending Offer : Valid for new memberships with new checking accounts only ( may be combined with a new credit card account ). Spending must be completed on either a new debit card, new credit card account, or combination thereof. The spending bonus reward is 10 % of qualified purchases within three categories : groceries, online streaming subscriptions, and food delivery. Each category has a maximum reward of {$50.00} ( based on a maximum spend of {$500.00} ), up to a combined total reward payout of {$150.00}. The purchases must be made using a qualified First Tech debit or credit card linked to a new account. For purchases to qualify, transactions must post to the account ( s ) within 60 calendar days of Enrollment to receive a spending bonus. Any qualifying spending bonus earned will be deposited to the Participants Membership Savings account. If the maximum earned payout is reached during the first month, payout will be made the first week of the following calendar month ; otherwise, any earned payout will be made at the end of the 60 day period. Spending bonus payouts for qualified purchases will be completed by XXXX. First Tech does not have the ability to control how a retailer chooses to classify their business and therefore reserves the right to determine which purchases qualify for promotional offer. Merchants who accept XXXX debit and credit cards are assigned a merchant code which is determined by the merchant or its processor in accordance with XXXX procedures based on the kinds of products and services they primarily sell. First Tech groups similar merchant codes into categories for purposes of making offers to you. Please note that First Tech makes every effort to include all relevant merchant codes in our categories. However, even though a merchant or some of the items that it sells may appear to fit within a category, the merchant may not have a merchant code in that category. Merchant category codes that qualify for this promotion include the following : Groceries : 5300- Wholesale Clubs, 5411 Grocery Stores, Supermarkets. Online Streaming Subscriptions : 4899 - Cable, Satellite, and Other Pay Television and Radio Services, 5735 - Record Shops, 5968 - Direct Marketing - Continuity/Subscription Merchants . Food Delivery : 5812 - Eating Places, Restaurants. 
What youll get : Up To {$350.00} Where its available : Nationwide ( to all new members and cardholders ) How to earn it : Open a new checking account using the promo code NEW2023 and complete the following requirements : Earn {$200.00} when you set up a direct deposit. Must be set up within 60 days of account opening and receive 3 recurring direct deposits

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation