[Expired] [IL only] Liberty Bank For Savings – Up To $1,000 Checking Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $1,000
• Availability: IL only, must go in branch [Branch locator]
• Direct deposit required: Yes, $100+ for three months
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown, but sensitive to too many inquiries
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: $50, 90 days
• Household limit: None listed
• Expiration date: June 30th, 2018 September 29th, 2018

The Offer

Direct link to offer

• Liberty Bank for Savings is offering a bonus of up to $1,000 when you open a checking account. You basically get to spin a wheel with 18 slots with bonus amounts ranging from $50 to $1,000 when you complete the following requirements:
  1. Stop by a branch and give the banker the promo code you received via email;
  2.  Open a new checking account by 6/30/2018. Initial checking funds must be new to the bank;
  3. Spin the wheel to determine the amount of the bonus
  4. Receive 3 monthly ACH electronic funds transfer credits of $100+ to this account (1 each month for 3 months) within 120 days after account opening.

The Fine Print

• Each branch has a wheel with 18-slots with bonus amounts ranging from $50 to $1,000.
• The actual bonus amount the customer receives will depend on which slot the ticker lands when the wheel stops spinning.
• Bonus is applicable to any Liberty Bank checking account opened.
• Bonus will be credited to the customer’s new Liberty checking account within five business days after they fulfill the following requirements: 1) Stop by a branch and give the banker the promo code you received via email; 2) Open a new checking account by 6/30/2018. Initial checking funds must be new to the bank; 3) Spin the wheel to determine the amount of the bonus; 4) Receive 3 monthly ACH electronic funds transfer credits of $100+ to this account (1 each month for 3 months) within 120 days after account opening.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There are no monthly fees on this account, bu there is an early account termination fee of $50 if you cancel the account within 90 days of account opening

Our Verdict

Previously they have offered a flat bonus of $100. It’s hard to know how to value this current deal as we don’t know what is in each of the 18 slots, I think it’s safe to say there will be one $1,000 slot and multiple $50 slots but we still can’t work out the expected value and there is a level of gambling involved as well. Because of that I won’t be adding this to the best checking account bonuses until we know more.

Hat tip to reader zero_x3

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• Introduction To ChexSystems
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