[Expired] [IL & MO] First National Bank of Waterloo $150 Checking Bonus

Looks like bonus is no longer being offered. Click here for the best current checking bonuses.

Offer at a glance

• Maximum bonus amount: $150
• Availability: in IL – Bond, Clinton, Effingham, Fayette, Madison, Marion, Monroe, Randolph, Shelby, St. Clair and Washington counties and in MO – St. Louis and St. Charles counties and St. Louis City
• Direct deposit required: Yes, no minimum specified but says it needs to be your full paycheck
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Yes
• Credit card funding: Unknown
• Monthly fees: None listed
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• First National Bank of Waterloo is offering a bonus of $150 when you open a new checking account, bonus is broken down as follows:
  • $100 bonus when you do the following within 90 days:
    • Open an account with $25
    • Agree to receive e-statements
    • Make $500 in direct deposits
    • Make 20 debit card transactions
  • $50 bonus when you keep eStatements and make one direct deposit per statement cycle for a year

The Fine Print

• Primary account holder of the EZ150 checking account must be 18 years or older.
• Limit of one consumer EZ150 checking account per customer.
• Incentive is considered income and will be reported to the IRS on a form 1099.
• Direct Deposit is a credit to your account of salary, pension, social security or other regular monthly income.
• Transfers from one account to another, online banking transfers or deposits made at a banking location or ATM do not qualify as a Direct Deposit.
• Offer is not available to existing First National Bank customers with an open checking account as of Jun 1, 2018.
• First incentive is paid 90 days after account opening.
• Second incentive is paid after the one year anniversary of account opening.
• Employees of participating bank are not eligible. Special marketing promotional offer. Limited Time Offer—contact First National Bank of Waterloo for details.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

I wasn’t able to find any mention of a monthly fee

Early Account Termination Fee

I couldn’t find a full fee schedule so I’m unsure if there is any early account termination fee

Our Verdict

This account has a lot of requirements for the first $100 bonus and direct deposit is required for the second $50. Personally I think this is way too much effort for a relatively small bonus so even if turns out to be a soft pull we won’t be adding this to our list of the best checking bonuses. If anybody decides to sign up then please share your experiences in the comments below.

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