Published on March 30th, 2018 | by William Charles11
[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, 2018September 29th, 2018
- 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:
- Stop by a branch and give the banker the promo code you received via email;
- Open a new checking account by 6/30/2018. Initial checking funds must be new to the bank;
- Spin the wheel to determine the amount of the bonus
- 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
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
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
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