Posted by William Charles on May 18, 2017
Bank Account Bonuses

Published on May 18th, 2017 | by William Charles

14

[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

The Offer

Direct link to offer

  • 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

Avoiding Fees

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.

Our Verdict

$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:



14 Responses to [WI & MN only] Bank Mutual $200 In Branch Checking Bonus

  1. Darv says:

    Yo Curm,

    You successfully get this in Wisconsin?

    Darv

  2. Raz says:

    Any restrictions for customers who closed an account in the last 12 months?

  3. Superchurn says:

    I’m finding it impossible to use their location finder to find a branch. All it shows is ATMs. and Google only knows about 1 branch in the Twin Cities area…

  4. Superchurn says:

    Noticed a error in the post…their site says only need to complete two of the three requirements listed, not all 3. I think the debits and 5 bill pays sounds easiest for me!

  5. Richard B says:

    The account can be opened online. Why are you all trying to find a branch to go to?

    Also, the lowest fee they have on an account is the Essential Checking. It’s $4.95/month unless you’re under 25 or have an external direct deposit setup, or make 10 debit card transactions per month. Seems simple enough.

    • Darv says:

      The promotion details at their website indicate this should be opened in branch. I see I can open an account online but don’t see that the promotion would be applied.

      Do you see otherwise?

    • Hanna says:

      I opened in branch and the rep used a promo code. Unless you know that code you need to go in.

  6. Hanna says:

    I just opened in branch and can confirm no CC funding.

  7. Dan says:

    The checking by you account is no longer offered. The best account is the essential checking, waived with 10 sig debit transactions, any direct deposit or student under age 25

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