Update 6/29/24: Deal is back and valid until August 30, 2024. Hat tip to SecondMouse
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, AZ.
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
bonus arrives a few days after real dd… feels like SoFi doesn’t work, but not sure…
07/02 – Opened acct (WA) and Signed up for e-statements
07/03 – $1500 push from SoFi Checking (“TRANSFER SoFi Bank WEB”)
07/19 – $1500 real dd from employer (“DIRECT DEP xxxxx”)
07/25 – $30 e-stat + $150 dd bonus posted
My bonus was credited 4 days after my DD so I would agree SoFi didn’t work.
07/02 Opened acct (Maryland)
07/02 Signed up for e-statements
07/16 $30 e-statements bonus posted
07/16 – 07/22 Twenty $1 Paypal reloads
07/19 $1502 deposit from Fidelity
07/23 $150 and $70 bonuses posted
DP
6/16 – Applied from MA
6/18 – Opened & signed up for e-statements
6/18 – $1501.43 push from SoFi Checking (“TRANSFER SoFi Bank WEB”)
6/23 – $150 for DD and $30 for e-statements pending
Tried a bunch of PayPal payments for the debit card transactions. Eventually, the debit card got frozen bc of fraud. Be careful about that. I’ll report back if that bonus goes through.
Someone remind me in six months to close this
Applied and got this:
We’re processing your information.
Thank you for submitting your application. While you have completed the process, the application did not fully upload. Our support team will review your information and will be in contact soon with further information. For any immediate needs, our dedicated online account support team can be reached at [email protected] or 855–696–4352.
Has this happened to anyone else? I assume it’s a rejection. I’ve seen a lot of excuses but never “the application did not fully upload” lol
Update: I was actually approved
Where do you live?
MA
If you had an account with them 2 years ago do you need to apply with that login info? or do you apply as a new customer?
I recall we’re using all the same info. Pretty sure it forces you to.
My churn DP: https://www.doctorofcredit.com/il-mo-midland-states-bank-250-checking-bonus/#comment-1706046
How long should I wait after I closed my last account to churn this?
https://www.doctorofcredit.com/il-mo-midland-states-bank-250-checking-bonus/#comment-1868604
What is the minimum for the debit card transactions, and are we doing Amazon?
No minimum debit.
Amazon is $5 minimum now, for reloads. Unless you really want a $100 in your Amazon piggy bank, better to find something else.
https://www.doctorofcredit.com/share-your-tips-for-meeting-small-1-spent-transactions/
I’d suggest using the gas pump 25 cents at a time.
What if he has a Tesla?
Shove the pump in the charging port?
Bring a jerry can.
Opened account, moved money in and out, and after a few days I get a call and account locked for verification
They said my account was not approved yet lol
Applied online 7/3. Got the following message:
“Unfortunately, we cannot proceed with your application at this time. There could be a simple fix and we would like to help determine that with you. A member of our online account support team will be following up with you shortly. If you need immediate assistance, the online account support team can be reached at…”
I’m not sure if they tried to call me (I get too many spam calls to answer random numbers), but I called today. The rep told me that I got this message because part of the identity verification failed. She didn’t say which part. Apparently the only way to get verified is in-branch…. I live in NC.
I also had the same thing. She said I failed the identity verification & I asked why & she said it was an automated system & the info on my application did not match with whatever system is verifying me??? Strange. She said the only other thing to do is come in in-person. I think it has something to do with your address or personal info being a tad off, or identity verification is code for chex
I believe it’s related to the identity verification questions. Ie “what color is your 2012 Honda”
It’s very common with this bank. They use cheap software with outdated information or something is wrong on their backend.
Or a bunch of users here don’t know how to answer verification questions? Seems unlikely we all failed imo.
What sucks is they pull your Chex even though your identity isn’t confirmed and you never actually submitted an application.
Get a copy of your LexisNexis. Then, ace your questions about your life.
The issue is with them not me IMO.
All of us doc users who experienced this, which is many of us if you look through the DP’s. We all are answering the questions wrong???
But we are somehow able to answer the questions right to open accounts at different banks??
That seems highly unlikely.
I believe they are using our dating information which is causing so many of us to fail.
I’m fairly confident I know what color car I drive and what school is located next to my residence etc etc.
Depends on the bank/cu. Some of these Banks use the identity excuse is just another way to say ChexSystems denial. It could be the case here too.
Every once in awhile 1 question will pop up where I have to pull up credit karma to see what year I opened an xxx credit card. If more than one answer applies, 2022… 2024… I picked the newest one.