Deal has ended, view more bank account bonuses by clicking here.
Update 12/2/23: Deal is back and valid until 12/31/23. Looks like it can be opened online in all states except: CA, CO, KS, KY, LA, NJ, NY, OH, OR, PA, TX, FL.
Update 6/25/23: Deal is back and valid until 9/30/2023.
Update 12/16/22: Looks like it can be opened online in all states except: CA; KY; NJ; NY; OH; PA; TX. Hat tip to reader John
Offer at a glance
- Maximum bonus amount: $250
- Availability: IL, MO
- Direct deposit required: Yes, $1,500+
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes, not sensitive
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: $40 if closed within six months
- Household limit: None listed
- Expiration date:January 31, 2023
Contents
The Offer
- Midland States Bank is offering a bonus of $250 when you open a new checking account with promo code Check250. Bonus broken down as follows:
- Have a direct deposit of $1,500 and receive a $150 bonus
- Complete 20 debit card transactions and receive a $70 bonus
- Sign up for eStatements and receive a $30 bonus
The Fine Print
- In order to be eligible for this limited-time offer, you must be 18 years or older and apply online or in-person using the code: Check250.
- Limit of 1 per person.
- Checking offer is not available to existing personal checking account holders. New customers may earn up to $250 on personal checking accounts LivTM Simply, LivTM Rewarded, and LivTM Unlimited if the following qualifications are completed within 90 days of opening account: direct deposits via ACH totaling $1500 will receive $150, 20 debit posted card transactions within 90 days (excluding ATM transactions) will receive $70, and E-Statements enrollment receives $30.
- Incentive is considered interest, producing a 1099-INT form.
- If the account is closed by you or Midland States Bank within 180 days after opening, you will forfeit the offer and be subject to an account closing fee.
- After you have completed the above requirements, the offer will be deposited into your new account within 30 business days.
- Contact us for additional details.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Liv Simply account has no monthly fees to worry about.
Early Account Termination Fee
$40 if closed within six months
Our Verdict
Always nice to see a bonus with no monthly fees to worry about. We will add this to our list of the best bank account bonuses.
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
DP: (P2) Closed via SM, next day. Account disappeared from online banking. Login currently works. CAN still access statements. (P1) Presumably closed months ago due to zero balance.
I got a mailed 1099 on 02/12/24
Any one received 1099-INT from this bank?
Yes, my 1099-INT for the $70 debit card portion of this bonus posted today in online banking. My account is closed but I was still able to retrieve.
DOC Yes I got a 1099 for 250 for all 3 parts of the bonus.
I got $150 DD bonus and $70 debit card bonus, still waiting for $30 e-statement bonus. I signed up for estatement at online enrollment time and have also received an e-statement and its been more than a month since. Contacted support and they are supposed to get back to me in 2-days.
Data point-
Joined 12/28/23
Transferred 1500 from Sofi on 1/2/24
Signed up for estatements on 1/2/24
Got $30 and $150 bonus on 1/9/24
Will finish the debit card purchases for the additional $70.
The $150 and $30 were one of the easiest bank bonuses I have ever done.
Question about debit card transactions that I probably should know the answer to… I started with Amazon reloads but had a few gas station/Walgreens $5-10 transactions that I ran but since I didn’t have the pin yet I ran them as credit. I have done 20 total but it’s been over a week and no bonus. I don’t mind doing 20 total Amazon but does the no pin make any difference? They run as DBT CRD instead of POS DEB. It really seems like it shouldn’t make a difference.
It should not matter. The terms only say debit card transactions (excludes ATM transactions), signature-based purchases should count.
Thanks! I kind of think the same thing just found it unusual as historically this bank pays bonuses fast and it’s been like 5 business days.
12/26 Applied online for no fee Liv Checking
12/26 Instantly approved, funded with $50 with debit card
12/26 $1600 ACH push from Gemini
12/27 8 pm $1600 posted as available
1/2 $30 e-statement credit + $150 direct deposit credit received
[haven’t received debit card yet for +$70 for 20 debit tx bonus…]
This looks to be expired – link creates ‘404 page not found’ error
P1:
12.18.23 – ACH Oush $1,500 Chase
12.19.23 – $150 bonus posted
12.19.23 – E statement $30 posted
P2 same date but no bonus yet
I haven’t done my 20x transactions yet so the $70 should hopefully posted shortly after.
Fast turn around on the bonus overall so far!
Word to the wise: I had trouble using my debit card the requisite 20 times to buy gift cards on Amazon. All 20 $1.00 purchases went through, then Amazon sent me emails that they were all declined because my card number needed to be “verified.” So I went in and verified the card info, which was already entirely accurate. That seemed to fix all 20 transactions, but then Amazon sent me a few more emails asking me to re-verify the card info for some of the transactions, which I did. Then I secure emailed Midland, since they don’t have a chat feature, asking them if I need to do anything to fix the problem. They haven’t replied yet, but now my Midland online account shows 32 $1.00 purchases posted, which is fine, I can always use the extra $12 on Amazon. I just hope Midland doesn’t try to “fix” the problem and mess up my Amazon account.
Two suggestions to avoid this…
– Only do 4 or 5 per day to properly season fraud controls, OR
– Do different amounts, increments of a penny.
You might want to call Midland States before they decide to get medieval on that fraudster trying to drain your account $1 at a time. The fraud prevention weenies don’t care that you have a promotion that you’re signed up for requiring to use debit card 20x.
Thanks for the tips! Doing different amounts would also help to count the transactions, so I don’t do more of them than I need.