Posted by William Charles on December 15, 2018
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Published on December 15th, 2018 | by William Charles

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[IL only] Central Illinois Bank $250 Checking Bonus

Note: This looks exactly the same as the Marine Bank $250 bonus. I assume the hard/soft pull and other details are the same as well but I’m not 100% sure.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: IL only
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: eStatements & 12 debit card transactions
  • Hard/soft pull: Soft
  • ChexSystems: Unknown, sensitive. 
  • Credit card funding: None
  • Monthly fees: None listed
  • Early account termination fee: $75, six months
  • Household limit: None listed
  • Expiration date: December 31st, 2018

The Offer

Direct link to offer

  • Central Illinois Bank is offering a bonus of $250 when you open a new Acceleration checking account and complete the following requirements for two consecutive months after account opening:
    • Set up e-statements through online banking,
    • Establish a monthly direct deposit and
    • Perform 12 debit card purchases

The Fine Print

  • Accounts closed within 6 months of opening date are subject to a $75.00 closing fee.
  • Limit one Acceleration Checking and Acceleration Savings account per primary social security number. Acceleration Checking: Minimum balance to open account $100. Customer must set up e-statements through online banking, establish a monthly direct deposit and perform 12 debit card purchases each month to “qualify” and receive tiered rates and ATM surcharge refunds up to $12.
  • Transactions may take one or more business days to post and clear the account. $250.00 bonus offer limited to new Acceleration Checking accounts opened between 9/17/18 and 12/31/18.
  • To receive the bonus Acceleration Checking “qualifications” must be met the first two consecutive months after account opening.
  • Cash bonus will be deposited into the account following the third statement cycle by the 10th of the month. Cash bonus considered income and reportable on IRS Form 1099-INT.

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

Accounts closed within 6 months of opening date are subject to a $75.00 closing fee

Our Verdict

By completing the requirements the account also earns 2% APY, but that isn’t attractive as other high yield savings accounts earn at a higher rate. The bonus is worth doing if the information is the same as Marine Bank, but just keep in mind that Marine Bank is ChexSystems sensitive so that will probably be an issue here as well. As always share your experiences in the comments below.

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

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AllwaysLearning22
AllwaysLearning22

The nearest branch is about 40 miles away (I am in IL).
The first question the application asks is your zip code. It did not reject me based on that.

At the start of the application you select which product and how much would you fund it initially ($100 min) and there was a checkbox for ‘Debit card’, but towards the end of the app it required routing and account # for ACH funding.

I did not get prompted for any security questions to verify identity (the ones you usually see with Chex).

At the end of the application it said “Thank you for your application. Your application has been referred to our Customer Support Team. You will be contacted shortly.”

Will see how it goes.

Charles Mann
Charles Mann

It’s part of CIBM Bank (aka “Marine Bank”) where I recently applied for the same acct, was initially approved online, then denied via email a few days later. It appears to me they use Chex, but YMMV.

Drew
Drew

I have a branch 6 miles from my house. Applied yesterday, rejected this morning:
“This decision was
based on our Identity Verification and/or Compliance List screening policy.”

This would have been my 3rd account this year, but before that I’ve only had one checking account for about 20 years.

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