Posted by William Charles on July 30, 2019
Bank Account Bonuses

Published on July 30th, 2019 | by William Charles

31

[IL, MN & WI only] Associated Bank $400 Checking & Savings Bonus

Offer at a glance

  • Maximum bonus amount: $400
  • Availability: IL, MN & WI only 
  • Direct deposit required: Optional
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Up to $1,200, no American Express cards.
  • Monthly fees:
  • Early account termination fee: Bonus forfeit if closed within 12 months
  • Household limit: None listed
  • Expiration date: June 30th, 2020

The Offer

Direct link to offer

  • Associated Bank is offering a bonus of $400 when you meet the following requirements:
    • Open an Associated Forward Checking account with a minimum deposit of $100 and make three payments using Associated Bank Online Bill Pay OR have at least one direct deposit of $300 or more within 45 days of account opening AND
    • Open an Associated Relationship Savings account with a minimum deposit of $25,000 AND
    • Maintain a minimum combined balance in the accounts of $25,000 for 90 days and receive your $400 within 120 days of opening

The Fine Print

  • Offer limited to Associated Forward Checking and Associated Relationship Savings opened through June 30, 2020.
  • Minimum deposit required to open is $100 for Associated Forward Checking and $25,000 for Associated Relationship Savings. Deposits from existing accounts do not qualify; funds must be from outside of Associated Bank.
  • Customer must open an Associated Forward Checking account and complete a minimum of three payments using online bill pay OR have one direct deposit of $300 or more to their account within 45 days of account opening AND must open an Associated Relationship Savings and maintain a minimum combined balance of $25,000 and at least such amount must remain on deposit for 90 days to receive the bonus.
  • All accounts must be opened with the same primary accountholder within 10 days.
  • If multiple Associated Relationship Savings accounts are opened in the 10 day timeframe, all accounts will be used to calculate the combined balance requirement.
  • $400 bonus will be deposited into the Associated Forward 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.
  • Primary owner on the account must be 18 years or older to qualify.
  • Offer not available to customers who already have or have had a checking account or Associated Relationship Savings account at Associated Bank within the last six months. Associated Bank colleagues are not eligible.
  • Person to Person payments and transfers to external accounts do not qualify for the required transactions to receive the monetary bonus. Exclusions apply.
  • Offer limited to one per customer, cannot be combined with other offers and is subject to change (at Associated Bank’s discretion) at any time without notice.
  • For tax reporting purposes, a 1099 may be issued at year-end for the year in which the bonus is given.

Avoiding Fees

Checking Account

There is a $11 monthly maintenance fee which is waived if you meet any of the following requirements:

  • $1,000 minimum daily balance
  • $2,500 in combined deposits
  • Direct deposits combining $500 or more per month
  • Under the age of 24 and enrolled in paperless statements.

Savings Account

This account has a $5 monthly fee, this is waived with any of the following:

  • $300 minimum daily balance OR
  • $25 or more per month in recurring automatic deposits, such as Automated Clearing House (ACH), online banking transfers from another account or direct deposit OR
  • Be under the age of 18

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, I’m not sure if that is the case with this bonus or not. Because of this I’d kindly ask you not to share your referrals in the comments for now.

Our Verdict

Previous bonuses would let you get a bonus of $175 for opening the checking account and another $100 for opening a savings account with a minimum balance of $10,000. This is an extra $125 but you do need to deposit and maintain a balance of $25,000 for 90 days. For a lot of people they won’t have that much in liquid funds. If you do, this bonus will be better than having it in a high yield savings account. I’ll be adding this to our list of the best checking/savings bonuses.

Useful posts regarding bank bonuses:



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Ferris
Ferris

A maximum of 6.4% APY excluding transit time. It looks like the Associated Relationship Savings earns 0.1%, which could make it 6.5% APY.

keshav singhal
keshav singhal

Could you elaborate on 6.4% APY

Ferris
Ferris

Math. Earnings/money x amount of time

MikeTheCreator
MikeTheCreator

Damn i did the 175$ bonus months ago, wish i would’ve waited lol.

Gadget 🕵️

I really don’t see the attraction to this $400 bonus, when there are better to be had at other banks. I just opened the Associated $175 and got paid the bonus in about a week. Unless this $400, or the $300 bonus, pays out the same way, I don’t see the value. Plus the claw-back terms scare me, so you have to maintain these accounts for a whole year, even if you downgrade them, the terms & APR kinda suck.

MikeTheCreator
MikeTheCreator

TRUE

keshav singhal
keshav singhal

Hi Gadget, by other options, do you refer to savings account with online banks like Discover, Amex etc which give 1.7-2% interest?? Just wanted to know as I am new to this. Thanks!

Gadget - Bank Bonus Geek 🕵️

No, more like other better bonus offers exist are available that require large sums of cash. Citi 15K for $500, WF was offering $500 for 25K, etc. Essentially what is $225 for 25K isn’t the best deal available.

Associated does pay out fairly quickly, and you may be able to downgrade the account, so they aren’t horrible. I went for the $175 bonus, then the $100 MM bonus for $10K as a joint account, then P2 did the $175 once she had online access thru the shared account. P2 wouldn’t have the ability to get an account without me creating the joint account. The checking accounts were downgraded to Access checking (no min bal) as soon as payout occurred, about a month after opening, and the MM has a $1k minimum bal after payout.

AllwaysLearning22
AllwaysLearning22

If you have a 4% rewards checking like TAB, the 25K bring $250 in interest for 3 months, which is actually more than the $225 bonus

keshav singhal
keshav singhal

yeah I checked TAB. I am ok for 1 ACH per month but not sure about 15 debit card transactions. Do you use it? If yes are you able to maintain it well?

keshav singhal
keshav singhal

Understood. Thanks! I alrady have account in WF and Citi looks good for future.

Harry
Harry

Can a previous resident of IL, with IL Drivers License can open account online or at a branch?

Gadget 🕵️

At branch, yes. But, they are probably question why you haven’t updated your license. So be prepared to figure that out… have an utility bill or whatever.

Online – it screens you by your address. Unless you had a prior account and still have a login – pro-tip.

Meghan
Meghan

If anyone has a referral link please send it to me at meghanflores1888@gmail.com
Thank you! Also does anyone know if you can fund an associated bank account with a Discover It credit card and not get charged a cash advance fee?

Skor
Skor

Referral sent.
You can fund with Discover / any non-Amex card if opening online. No cash advance fees, posts as purchase.

keshav singhal
keshav singhal

Did 50$ referral work along with 400$ bonus? If yes please send me the link to kaks88@gmail.com. Thanks!

MH
MH

Can anyone send me a referral to “mikehenry13579@gmail.com” Thank you!

Skor
Skor

Referral sent

keshav singhal
keshav singhal

Did 50$ referral work along with 400$ bonus? If yes please send me the link to kaks88@gmail.com. Thanks!

Skor
Skor

Need your First Name and Last Name. Will send you the referral.

keshav singhal
keshav singhal

Keshav Singhal

Skor
Skor

Sent you the referral.
Make sure you register at ReferLive using the link you should be receiving with the SAME EMAIL ADDRESS. Don’t open the account using the referral link – just your registration on ReferLive.
Then you open the Associated Bank account using the link mentioned in this article AND USING THE SAME EMAIL ADDRESS.
The email address is what links the referral and account opening.

Harry
Harry

Can anyone please sent referral link to “harshak.mb06@gmail.com”

Skor
Skor

Need your First Name and Last Name. Will send you the referral.

Ace
Ace

Can anyone send me a referral, please? Email is acpn89@gmail.com
Thanks in advance!

Skor
Skor

Need your First Name and Last Name. Will send you the referral.

Ace
Ace

Is there a way I can DM you that info?

Skor
Skor
Ace
Ace

Thanks! Sent you an email with the details.

Yinuo
Yinuo

Is this offer nationwide now? Can anyone send me a referral?
yinuo.jiang1008@gmail.com
Thank you!

Skor
Skor

Need your First Name and Last Name. Will send you the referral. enjoy_sling@yahoo.com

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