Update 8/3/23: Extended until December 31, 2023.
Update 7/13/23: This is now a $600 checking bonus.
Update 4/30/23: New link. Valid until July 31, 2023
Update 2/13/23: Deal is back and valid until Apr. 30th, 2023. Hat tip to reader Ethan
Update 11/13/22: Deal is back, now with a $200 savings bonus. Hat tip to das1996
Update 3/3/22: This is available in more states now, terms now state ‘IA, IL, IN, KS, MI, MN, MO, OH and WI.’ Hat tip to reader Michelle B
Update 11/3/21: Deal is back, but sadly only $400 instead of $500. In addition the terms state you can’t have received a bonus in the last 24 months or had a checking account in the last 12 months.
Offer at a glance
- Maximum bonus amount: $600
- Availability: IL, IN, MN & WI only
- Direct deposit required: Yes, $500+
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: Up to $1,200, no American Express cards.
- Monthly fees: None
- Early account termination fee: Bonus forfeit if closed within 12 months
- Household limit: None listed
- Expiration date:
May 31st, 2021 June 30, 2021 March 31, 2022December 30, 2022
Contents
The Offer
Direct link to offer (must use promo code 1400 for both bonuses or use code 1300 for the $400 checking bonus)
- Associated Bank is offering a bonus of up to $600 when you open a new checking account and complete the following requirements:
- Receive recurring direct deposits totaling $500 or more within 90 days of account opening
- Bonus you receive depends on your average daily balance (days 31-90):
- Total average daily balances of $1,000-$4,999.99 will earn $300,
- $5,000-$9,999.99 will earn $400,
- over $10,000 will earn $600.
They are also offering a $200 savings bonus when you open a new account with a minimum of $25,000 remaining on deposit for 90 days
The Fine Print
- Offer limited to a new personal Associated Bank checking account opened and funded through May 31, 2021.
- Receive up to $500 bonus with required minimum opening deposit (Associated Access Checking: $25, Associated Balanced or Choice Checking: $100; deposits from existing accounts do not qualify) and direct deposits totaling $500 or more within 90 days of account opening.
- Determining your bonus: 90 days (or the previous business day), after opening your checking account, we will calculate the sum of the average daily balance for all your open Associated Bank deposit accounts for days 31-90. Total average daily balances of $1,000-$4,999.99 will earn $200, $5,000-$9,999.99 will earn $300, over $10,000 will earn $500.
- All personal Associated Bank checking, savings, money market, IRA and/or CD account balances are included in the calculation to determine your total average deposit balance. Accounts must be titled with the same primary account holder to qualify for the bonus. Deposit balances from business, HSA, investment, minor or private banking accounts are ineligible.
- The bonus will be deposited into the new Associated Bank checking account within 120 days of account opening.
- Account must be open at the time the bonus is paid and must remain open for a minimum of 12 months.
- If the account is closed within 12 months, Associated Bank reserves the right to deduct the monetary bonus from the account prior to closing.
- Offer limited to one per customer and cannot be combined with other offers.
- Offer limited to one per customer and cannot be combined with other offers. New customers opening online are limited to IA, IL, IN, KS, MI, MN, MO, OH and WI. Offer not available for customers who have received a new personal checking account monetary bonus within the last 24 months and have or have had an Associated Bank checking account within the last 12 months.
- Associated Bank colleagues are not eligible.
- Primary owner on the account must be 18 years or older to qualify.
- Person to Person payments and transfers from external accounts do not qualify for the required direct deposit transactions to receive the monetary bonus.
- For tax reporting purposes, the bonus will be reported to the IRS on Form 1099-INT.
- The offer is subject to change, at Associated Bank’s discretion, at any time without notice and other exclusions may apply.
Avoiding Fees
Monthly Fees
Associated access checking account has no monthly fees to worry about. You do need to opt into eStatements otherwise you’ll be charged $4.
Early Account Termination Fee
There is no early account termination fee, but the account needs to be open for 12 months or the bonus is forfeit.
$50 Referral Bonus
You can also refer friends if you visit here. Previously you’ve been able to get referred and also get the bonus, it looks like that will stack as well because the brewers referlive page specifically mentions the $500 bonus. In addition person signing up for the account can get a Christian Yelich bobblehead (these are going for $20-$50 on eBay, but I imagine price will come down). Please do not ask for or share your referrals in the comments. Instead you can use this dedicated page.
Our Verdict
We’ve seen previous bonuses of $175 + $100 and $400. This new offer is for more money and you don’t need to open a savings account (but you do need a high average daily balance for 30 days, but still less than the previous $400 offer). The other offers had direct deposit optional though. I still think this is the best offer by far and will be adding it to the best bank bonus page.
Hat tip to reader Arthur D
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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
- Bank Bonus Posting Times
Citi DC (Mastercard) $1200 posted as a purchase for account funding
Beware. This bank will freeze your account and disable access to your account AFTER your DD and initial funding hits.
You will have to resort to CFPB to get your hard earned money out.
Avoid this bank at all costs.
Why? What happened? Got the bonus without any problem in 2021.
DP: May 1 – $399 Funding CC
May 10 – $9,999 Xfer deposit
June 1 – Legit DD $600, Aug 1, Legit DD –
So I had a little over $11K for all of June and July and 2/3 of May, but got just $400 From them on August 11th. Trying to close out but they have a 12 month take the bonus back clause.
DON’T use credit card to fund the account. I was charged the Cash Advance fee. I used my Chase visa card.
Not all CC funding codes as cash advance, as the dozens of DPs in this thread show. In general, it seems that Visa cards code as cash advance but Mastercard codes as purchase.
I used my BoA Premium Rewards Visa for $1200 and they charged it as a purchase. Did you go inside to open up an account OR did you do it online? I did online and it was classified as an online, financial institution merchandise and services purchase. Wonder if that’s the key, doing the account opening online.
Would like to open an account and fund with a CC. Have dug through many of the comments and know which cards NOT to use if I dont want to pay a CA fee.
I am considering trying my Capital One Savor MC, Barclay Arrival+, or my Barclay Aviator.
Any DPs on these?
I am not due to receive the bonus for another couple months, but here are some data points on how various deposits I attempted were labeled by Associated Bank:
Push from Discover: Payments & Transfers
Push from Wise: Deposits
Push from Amex Biz checking: Deposits
Push from Treasury Direct: Taxes & Authorities
Push from Chase checking: Savings & Investments
Push from Chase ACH Payment Service($2.50 fee): Paycheck, Pensions & Annuity
Also, in the app, in the “Money Monitor/Insights” section, I see:
-my push from Treasury Direct shows “Government Deposit”
-my push using Chases ACH Payment Service($2.50 fee) shows: “You got paid! Your paycheck has been deposited.”
I opened account on 07/25, deposit $10000 on 08/25. I might missed a day since July has 31 days. Is it fine if I deposit like $1000 more, to reach $10000+ average daily balance?? There’s no term that ask you have to maintain 10000 every each day for days 31-90 right? Anyone help?
Applied from Cincinnati, was denied. Said they couldn’t confirm identity and to go to branch to open.
Hey live in Cincinnati, so maybe they just don’t like us.
So I finally heard back from them about my account which was under review for 5 weeks now. They sent me a letter in an envelope where my address was hand written! The letter said, “your account was closed due to suspicious activity.” I’d love to know what that activity was. It went on to say, “we may choose not to open any accounts for you in the future.” Don’t worry, I won’t be opening any account with you ever again! They sent me a check with what was in my account, but unfortunately I had set up another direct deposit that hit after they mailed this out. I assume they’ll send me another check because as far as I know it went through.
If the account is closed, the DD will fail and get returned to the payer. I had this happen before and my employer mailed me a check for the “bounced” DD.
I’ve had this happen before and the DD went through on a closed account and the bank sent me the check. I does seem weird though. I will call to make sure though.
I wouldn’t “assume” that they are mailing a check. Banks make mistakes and things fall through the cracks. It happens in any business. I would be the squeaky wheel. You may need to get the traceroute number from your employer/bank that sent the last direct deposit.
I agree with Sam F. If your account is closed, the direct depost from your employer will be rejected by the bank and your employer will mail you a check.
Applied online and approved 8/12. Chex inquiry same day. I don’t know about EWS. Did not check EWS. Cant say this bank is chex sensitive or not but I guess not sensitive? My chex is 3/1 before Assoc. (2 inquiries from the same bank-currently disputing), 4/3, 8/6