Offer at a glance
- Maximum bonus amount: $100
- Availability: Illinois only
- Direct deposit required: No
- Additional requirements: Matching program
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5
- Early account termination fee: Unknown
- Expiration date: None mentioned
- Household limit: None mentioned
The Offer
- Illinois National Bank are offering a pocket change match. I really don’t understand this promotion, so I will direct quote:
- Round up each debit card purchase up to $9 in your register. We’ll take those “cents” and move the funds into your savings account at the end of each day.
- We will round up your INB VISA debit card purchases based on your enrollment choice and transfer the difference from your checking account to your You Name It Savings Account. We will match 100% of your Pocket Change transfers for the first 90 days of enrollment, up to $100. Matching funds will be paid at the end of the 90-day period on accounts that remain open and enrolled
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Easy checking account has a $5 monthly fee that is waived if you do any of the following:
- Maintain $500 daily balance
- Have a monthly direct deposit
- Have a monthly direct debit of an INB loan payment
- High school or post-secondary education enrollment
I wasn’t able to find a fee schedule so I am unsure if there is any early account termination fee or not.
Our Verdict
Ok so normally these match programs round up your purchase to the nearest dollar (e.g if you make a purchase of $2.20 it will debit $3 and then transfer $0.80 to your savings account). But this mentions round up to each debit card purchase to $9, so I don’t really get it.
If it’s the standard match, this program sucks. As you’re going to need to make 100+ transactions to get the full $100 bonus. If it rounds up to $9 each time or something then it might be worth considering I guess? If anybody can clarify, please do so in the comments below. We haven’t added it to our best bonus page because of this.
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
