Posted by William Charles on March 27, 2017
Savings Accounts

Published on March 27th, 2017 | by William Charles


[IL only] Bridgeview Bank 5% APY On Balances Up To $3,000 (Coin Deposits Only) – No Requirements

Limit is now $3,000 again

Limit is now $5,000 instead of $3,000. Thanks to reader Alexander F for letting us know.

They also have a checking bonus for $175 you might want to consider at the same time.

Offer at a glance

  • Interest Rate: 5% APY
  • Minimum Balance: None
  • Maximum Balance: $3,000 for 5% APY, balances $3,000-$10,000 earn 0.50% APY
  • Availability:  Illinois only, in branch only [Branch locations]
  • Direct deposit required: No
  • Additional requirements: None
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: FDIC

The Offer

Direct link to offer

  • Bridgeview Bank is offering a 5% APY interest rate on balances up to $3,000 on their Penny Wise account. There are no requirements to earn this 5% rate.  The catch is that only coin deposits are allowed (and no rolled coins).



The Fine Print

  • Consumer accounts and new money only.
  • Coin-only deposits are permitted.
  • No rolled coins, cash, check, or electronic deposits are allowed.
  • Withdrawal Limitations: 6 free per month $3.00 per withdrawal thereafter.
  • Annual Percentage Yield (APY) for Pennywise Savings is 5.00% for balances up to $5,000.00; 0.50% for balances $5,000.01 – $10,000.00; and 0.10% for $10,000.01 and above. APY is accurate as of 1/15/17. Your interest rate and APY may change at any time.
  • Interest will be compounded and credited to your account every month.
  • If you close your account before interest is credited, you will not receive the accrued interest. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • Offer not available to those who have closed savings or money market accounts within 90 days. Fees may reduce earnings. Offer subject to change, is non-transferable, and cannot be combined with any other offer. Account opening is subject to approval.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees to worry about.

Our Verdict

5% APY account with no requirements is great. Having to deposit coins only is a nightmare, especially when they don’t allow rolled coins at all. Reader Curmudgeon (who sent this offer in) suggests this possible solution:

  • Order $5,000 in quarters from a bank you don’t like
  • Break them open into a burlap sack
  • Haul it over to Bridgeview bank

I think this is a stupid promotion by Bridgeview, I hope they have good machines to count coins because this just seems like a nightmare for their bankers perspective. If you can be bothered maxing out the account then it’s obviously an awesome interest rate. View other high interest rate accounts by clicking here.

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$3,000 in pennies is 1,651 pounds… Imagine… Quarters would only be 150 lbs

It could have been worse.
They could have only allowed pennies and no other coins.
I would love to have an account like this since I have tons of loose change lying around.

Only Chicagoland. Oh well. Not worth packing my car with 1,000 lbs of loose change for a four hour trip just to earn $150/yr.


It’s going to be <$100 once you account for income tax.

If it’s going to be less than $100, then you are in the wrong tax bracket for any of these bonuses making a difference in your life.

You know what, I forgot that you get to deduct state tax. In any case, the concept still holds. Vast majority of Americans get hit with a marginal 25-28.

Any limit to how long you get the 5%?

If anyone tries this, please let me know, I am strongly considering this!

I do wonder about the mechanics of this. Obviously, I would open an account at the bank and at least strongly hint about what I was about to do before actually acquiring the $3000 worth of change. Because unloading this amount of unrolled change at a different bank than Bridgeview would be a complete nightmare. But even if I was assured this would work, then I also wonder about the next part in this adventure. How do I acquire the $3000 worth of coins without either totally embarrassing myself or arousing suspicion? I have a hard time imagining approaching a teller and asking her for 12,000 quarters. But I also would have had a hard time imagining I have 20 bank accounts before finding this site. So, what to do? If I am reasonably guaranteed $150 a year for the foreseeable future, why not, right?

“How do I acquire the $3000 worth of coins without either totally embarrassing myself or arousing suspicion? ”

That’s easy. Go to your bank and ask them to order $3000 in coin for you. It will take a few days to get in. If you’re nice they might call you when it shows up.

If they want to know what it’s for, tell them you’re selling the quarter at 3 for a dollar at the laundromat where the change machine is broken.

Remember when you could order dollar coins from the mint with a credit card with free shipping?

lol that’s the first thing I thought of, problem solved!

Huh. I’m going to be in Chicago for a funeral the next few days. How do I get my hands on a bunch of coin fast?

Wonder if I can flat rate mail loose coin to deposit? Ha!

No rolled coins? Okay I’ll just unroll it into this bucket.
It would be funny if there’s an arcade or laundromat nearby with a change machine.

Early launch of an April Fool’s joke?

It’s not a joke. I saw this promo on a billboard several weeks ago here in Chicago and thought it was just as stupid as everyone else.

When you close your account, do you have to withdraw it in coins too ?



Okay, just opened this this morning during a fit of in branch bank account opening. I put in like $25 of quarters to begin. I asked the banker if they’d shoot me if I walked in next week with $3K of one dollar coins. She didn’t bat an eye and said “we see it all the time.” Very quick and easy to set up–basically no questions other than looking at my ID and SSN card. You can log in to see balance online, but there’s no transfer functionality for the account (which helps them enforce the coins only bit). I will be getting a buttload of coins from my main bank at some point in the next couple of weeks and driving it over to the Bridgeview Bank. No doubt some find this part embarassing or stupid but I sort of revel in the absurdities. In case my family didn’t already think I was crazy for churning, things like this make it abundantly clear.

By the way, while I was there I picked up a flyer for $175 new checking account bonus on their EDGE checking. It’s a public offer but for some reason it doesn’t seem to be on their website. I asked to open that too because the requirements look really easy. DD of $300 or more (but no timeline, you can do it until Jan 2018 according to the terms). Min $100 to open, $250 to keep account fee free (otherwise $8). I am got this account too and I’m going to try to trigger it with ACH. If that doesn’t work I will switch DD at my employer. Might be worth reporting on for Chicago area folks (I could send you a pic of the flyer). Seems to be same garbage backend company as First Merchants bank– my confirmation code text came from the same number.

They also have this really dumb gimmick where if you open a $2.5K+ one year CD at 0.8% interest, you get to spin a roulette wheel where you could win a bonus $1000 (but your odds are like 1 in 50 or something and you will likely just get $5 or $10 instead). Crappy deal, but then again 0.8% on a one year CD isn’t *terrible*. Needless to say I did not bite on that one.

So it’s total only $150 max over 12 monthly payments to bring in all these coins? Never played the apy game for interest, just curious. going to sign up for the $175 bonus since I live 15miles from a branch.

Forgive me if I missed this, but does every deposit have to be coins, or only the opening deposit?

Every deposit has to be coins

FYI the limit on this account is now $5K instead of $3K according to the bank’s home page. This makes it a significantly better deal IMO.

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