Posted by William Charles on August 17, 2019
Bank Account Bonuses

Published on August 17th, 2019 | by William Charles


[IL, IN] Peoples Bank (ibankpeoples) $220 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $220
  • Availability: IL, IN
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: None
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None
  • Expiration date: None listed

The Offer

Direct link to offer

  • Peoples Bank is offering a bonus of $220 when you open a new checking account and complete the following requirements:
    • Receive a direct deposit within 90 days of account opening

The Fine Print

  • $220 promotional offer is for opening a Peoples Bank checking account with a direct deposit made within 90 days of account opening.
  • Please allow 60 days from the date the first direct deposit is received for bonus to be credited to account by next statement cycle.
  • Bonuses are for new checking account customers and limited to one account per customer.
  • In accordance with applicable regulations bonus payouts may be 1099 reportable.
  • Account must be in good standing and have a positive balance at the time the bonus is paid.
  • The minimum balance to open a You First Checking or eChecking account is $50.
  • The minimum balance to open a Senior Plus Checking account is $100.
  • This is a limited time offer and subject to change without notice.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Your First checking has no monthly fees to worry about

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any early account termination fee or not

Our Verdict

There are so many different Peoples Bank it’s crazy, we will call this one Peoples Bank (ibankpeoples IL, IN). This might be worth doing, but we need to know if there is hard pull or not. If anybody goes for this bonus please share your experiences in the comments below.

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The quote you supplied implies that you need to open it in branch. I’m certainly going to call them Monday morning, this one works for me.


This one is confusing, because it says to open in branch, but then they provide a link to apply online. Please reply back once you find out from them. Thanks!


I applied online (despite language above) as I am not going to trek to this branch. Basically you get a message that a banker will contact you within 3 business days. I’ll update when I hear back from them.


Were you ever able to open the account without going into the branch?

Marcus Smith
Marcus Smith

Is this for real


I applied over the weekend using my Illinois address and received this email today:

“We received your request to open a deposit account with Peoples Bank. Unfortunately, your location is considered out of our market area and we cannot open the account.

You may have mistaken us for another Peoples Bank. We are a community bank located in Northwest Indiana and South Suburban Chicagoland. The only offices and ATMs that we have are located in these areas.”

Looks like they screen addresses for local area only…the remainder of IL/IN is out of luck.


Got a call back from a friendly banker who said that I must go in branch to complete application.

If I can get in there the next couple weeks, I will.


CapOne worked as DD. Thanks, DOC.

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