This deal has been replaced with a $250 offer.
Offer at a glance
- Maximum bonus amount: $200
- Availability: Must reside in Lake County, Indiana, Illinois, or Philadelphia County, PA
- Direct deposit required: Optional, three direct deposits totaling $1,000 or more required for full bonus
- Additional requirements:Â Optional but 2 bill payments totaling $100 or more and 20 debit card transactions totaling $200 or more required for full bonus
- Hard/soft pull: Unknown
- Credit card funding: UnknownÂ
- Monthly fees: $5.95+, waiveable
- Early account termination fee: Full bonus, six months
- Expiration date: May 31st, 2015
Contents
The Offer
- Open any checking account with MB Financial Bank and complete the following to receive a sign up bonus of up to $200 (if you complete one you’ll earn $25, two will earn you $100 and three will earn you $200) :
- Use your debit card for 20 qualifying transaction that total $300 or more (PIN or POS purchases)
- Make a minimum of two bill payments which total $100 or more
- Have at least three direct deposits that go into your account which total $1,000 or more
The Fine Print
- Requirements must be completed within 90 days of account opening
- Bonus will post to account within 60 days of requirements being verified
- One bonus per customer
- Cannot be combined with Bank On It Promotion
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There are several accounts which are eligible for this bonus, all have monthly fees which are waivable. All require a minimum opening deposit of at least $50. The best option depend on your situation. You also need to enroll in eStatements otherwise there is a $3 fee charged on all accounts.
MB High Five Checking $5.95
A great starter account for students from ages 13-24
1. Monthly deposits totaling $100 or more or
2. $250 average balance or
3. Parent/guardian has an MB checking account.
MB Classic Checking $9.95
1. Monthly qualifying deposits totaling $500 or more. (Qualifying deposits include teller deposits, ACH credit (direct deposit), ATM deposits and incoming wire deposits.) or
2. Average balance of $3,000 in related deposit accounts. or
3. 10 total payment transactions.
MB Red Checking $11.95
Fee is waived if you maintain an average daily balance of $2,000 in this account.
MB Signature Checking $19.95
Fee is waived if you do any of the following:
1. Maintain a $5,000 average daily balance in this account or
2. $15,000 in related deposit balances5 footnote or
3. $25,000 in related deposit and home equity loan/line balances.6 footnote
Early Account termination fee
If you close your account within six months of opening, you will forfeit any bonus you have received.
Our Verdict
There are a lot of requirements on this bonus to get the full $200 and we aren’t sure if it’s a hard or soft pull. Because of that I’d be hesitant to recommend this bonus until we know more. There is an old FWF thread from 2008 about a similar deal and people seemed to have a lot of issues with their direct deposits not being big enough, now that they have added a minimum these problems should be resolved. But it’s still good information to know that they have been difficult in the past.
I’ve added this bonus to our checking bonus DB, I haven’t added it to our best bonus page because of the uncertainty around it. If somebody does decide to go after this bonus, please share your comments below.
Direct link to offer | Screenshot of offer
Hat tip to Maximizing Money