Deal has expired, view more bank account bonuses by clicking here.
Update 2/18/19: Deal is back and valid until April 12th, 2019. Hat tip to reader Adam L
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, 2018April 12th, 2019
Contents
The 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.
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
I have a screenshot of the terms and conditions from when I applied and it just says to deposit at least $500 from qualifying sources during June 21.
The performing a monthly direct deposit and performing 12 debit card purchases seem to be to qualify for the tiered rates and ATM surcharge refunds. FYI. https://postimg.cc/MXbL1mF7
DP:
Opened in March/19
Did real direct deposits and Amazon giftcard transactions
$250 bonus received in June
did you do clickswitch or just do a normal routing/account # from employer?
Direct link to offer is dead, this appears to be the new link: https://www.cibmbank.com/accelcheck.html
Thanks, fixed
Can I do this and the Marine Bank both?
Hi Will,
If this deal is really now good until 4/12, then “[Expired]” should probably be taken out of the title for now.
Thanks for updating!!
Fixed, thanks
“$250.00 bonus offer limited to new Acceleration Checking accounts opened between 2/18/19 and 4/12/19.”
Thanks, will get these posts scheduled
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.
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.
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.
Keep us updated on hard/soft pull
Forgot to reply before. I was rejected pretty quickly. Apparently pretty Chex sensitive. I have maybe 10 new CK accounts in 2018. No derogatory remarks.
There is definitely no HP on my credit.