Published on May 18th, 2017 | by William Charles14
[WI & MN only] Bank Mutual $200 In Branch Checking Bonus
Offer at a glance
- Maximum bonus amount: $200
- Availability: WI & MN only [Location finder]
- Direct deposit required: Yes, $500+ per month
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Unknown (unlikely due to in branch opening)
- Monthly fees: $2.95-$5.95 (avoidable)
- Early account termination fee: Bonus clawed back if closed within six months
- Household limit: One
- Expiration date: July 15th, 2017
- Open a new Bank Mutual checking account and get a bonus of $200 when you complete the following requirements:
Set up recurring direct deposits totaling $500 or more per month.
Complete at least 20 debit card transactions
Set up online bill pay and pay 5 or more bills
The Fine Print
This offer applies to personal checking accounts opened at select Bank Mutual locations.
Offer available to new checking customers only. Accounts may not be opened with money currently on deposit with Bank Mutual.
Minimum balance to open a personal checking account is $100.
Maximum $200 bonus per household.
After the qualifying activities are complete, bonus will be credited and considered earned approximately 90 days after account opening.
Bonus will be credited and considered earned on IRS Form 1099-INT.
The Annual Percentage Yield (APY) on Elite and Select Checking is .01% and is accurate as of 5/1/17.
Fees could reduce earnings on these accounts.
Other rules and restrictions may apply.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
The easiest way to keep an account for this promotion fee free is by opening the checking by you account, there is a $2 monthly fee which is waived as long as you opt in for paperless statements. Keep in mind you need to keep these accounts open for 6 months to avoid any early account termination fee.
$200 is as high as it gets for BankMutual checking although they previously offered a bonus of $200 for checking + $50 for money market. It’s not clear if this bonus is open to all branches or not. I will be adding this to our list of the best checking account bonuses though.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications