Posted by William Charles on June 4, 2017

Published on June 4th, 2017 | by William Charles


[IL only] Old Second Bank $125 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $125
  • Availability: Must be a resident of Illinois
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: Enroll for debit card and online banking
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $3.95, waivable
  • Early account termination fee: $25, 90 days
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer

  • Old Second Bank is offering a $125 checking bonus, broken down as follows:
    • $75 for enrolling for an 02 debit card and 02 online banking at new checking account opening (must be continually enrolled in both for 30 days)
    • $50 for receiving a direct deposit within 90 days of account opening, no minimum specified

The Fine Print

  • Up to $125 cash bonus offer is open only to new personal checking account relationships with Old Second that are opened with money not currently on deposit at any Old Second Bank.
  • To receive $75 cash bonus, customer must enroll for an O2 Debit Card and O2 Online Banking at new checking account opening and must be continually enrolled in both services for 30 days.
  • $75 cash bonus will be credited to account within 3-5 weeks thereafter.
  • To receive $50 cash bonus, customer must arrange for a recurring direct deposit within 90 days of initial account opening.
  • $50 cash bonus will be deposited within 1-2 weeks of receiving direct deposit into the account.
  • Cash bonus may be subject to 1099 reporting.
  • Offer may be withdrawn at any time without notice.
  • Only one cash bonus offer per household.
  • 1,000 Debit Reward Points will be added to your reward point balance for three BillPay transactions completed within the first 60 days of account opening.
  • $3.95 monthly paper statement fee if not enrolled in eStatements. Paper statement fee waived if primary account holder is age 65 or better.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Money connection account has a $3.95 fee if you opt for paper statements, this is waived with paperless statements enabled. According to this comment there is an early account termination fee of $25 if closed within 90 days.

Our Verdict

Not a huge bonus and it does require a direct deposit. Still worth doing for some people.  You can view all the checking bonuses we do recommend here.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

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I just gave it a shot and applied. No credit card funding allowed.

Please let us know if it’s a soft or hard pull, and ChexSystem pull if possible.

How can I check each?

If it is a hard pull, you shall see a new credit inquiry from (experian) and (transunion and equifax).

According to CreditKarma there was no hard pull. Account was approved yesterday.

Rep says it a soft pull.

Will open one for me and my wife for an easy $150 and then decide later whether to try a DD.

Usually, these smaller banks don’t recognize a Cap One 360 as a DD, though.

Whoops. Only one per household.

Does anyone know what counts towards DD ? Thanks

I applied 6/16 and can confirm there was no hard pull on my credit report

DP: CapOne (I pushed $50 from there) counts as DD. Just got the $50 bonus.

Still waiting for the $75 to show up.

did cap360 work as DD?

Hey Will….just opened an account …wanted to let you know there is a $25 cancellation fee if account is closed within 90 days of account opening. There was no option for credit card funding. Thanks for all the great info. you provide!!

Signing up today, anybody know what the1,000 pts for bill pay completion are worth?

Just applied….pending review….90% of my checking apps are automatically approved…anybody else have pending?

Disregard im approved, typo on my part on application, this bank is not chexsystems sensitive btw or theres no way Id be approved.

U.S. Citizen only

here is another DD DP:

07/25/2017 Bonus Program $50.00
07/21/2017 AC Alliant CU. ONLINE WD $100

Did ally work for anyone?

Just clicked on the link to check it out, and in the fine print it now states “two or more recurring direct deposits totaling at least $500 must be received in the account within 90 days of initial account opening” for the $50 bonus.

Just received the $50 for 2 CapOne DD of $250 each. Not sure if it was necessary for that much, but it worked. Waiting for the $75 for opening and having the Debit Card. They messed up and never sent me the debit card originally. I just activated it last week, so I will update when I receive the $75.

Received the $75 the next day. So in all it took 45 days or so to get the $125. Not too bad.

My one ach from cap1 360 triggered $50 bonus.

Looks like my account automatically closed 3 weeks after draining it after the bonuses had posted. The 90 days had not passed yet. Will provide DP if they attempt to charge the early termination fee.

DP – Capital One 360 Counted as DD
Soft Pull, no Credit score alert

11/24/2017 Open, $50
12/27/2017 ACH Capital One
12/28/2017 $75 Bonus
01/11/2018 $50 Bonus
01/17/2018 ACH out, zero balance

I will close at the end of February, or perhaps they will close the inactive account.

This one is easy.


I was rushing when I applied and may have missed something…on the last page there was an option to upload files…..was I supposed to upload a copy of my ID or something? There was no way to go back at that point 🙁

Yes, it wanted you to upload a pic of your driver’s license or passport. I’d just call in and ask where to send it.

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