Posted by William Charles on February 18, 2019
Bank Account Bonuses

Published on February 18th, 2019 | by William Charles

75

[Expired] [IN, IL, WI only] Marine Bank $250 Checking Bonus (Update)

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

Update 10/24/18: Reposting as we now know it’s a soft pull to open. I also had this listed as IL only before, but they have branches in IN & WI (and not in IL). I’m guessing it also works in IL based on people successfully applying when I had the wrong state listed? Looks like it’s available in IL as well.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: IN, WI, IL only
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: eStatements & 12 debit card transactions
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown (sensitive)
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: Six months, $75
  • Household limit: None listed
  • Expiration date: November 2nd, 2018 November 30th, 2018 December 31st, 2018 April 12th, 2019

The Offer

Direct link to offer

  • Marine Bank is offering a bonus of $250 and an APY of 2%. To receive the $250 bonus you must meet the requirements for the 2% APY for two consecutive months after account opening. Requirements are as follows:
    • Set up e-statements through online banking,
    • Establish a monthly direct deposit and
    • Perform 12 debit card purchases

The Fine Print

  • $250.00 bonus offer limited to new Acceleration Checking accounts opened between 9/17/18 and 11/2/18.
  • 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.
  • 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.

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

The 2% APY rate isn’t interesting as there are a high yield savings accounts that offer higher rates with no requirements. The $250 bonus is nice and worth doing if you live in an eligible area. I’ll be adding this to our best bank bonus page. If anybody decides to go for it then please share your experiences in the comments below.

Useful posts regarding bank bonuses:



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Joe
Joe

Approved. No credit card funding option.

Arash
Arash

Just applied. No hard pull. Their system is very old fashioned.

Joe
Joe

You know where to find the account number so we can open online banking?

Aditya
Aditya

I was put into witness protection 3 years ago. In the process I got a new last name and SSN. Well I used to live in IL so I used my old SSN number and address with this account and instantly was approved. Should be an easy bonus. Thanks doc!

Ro
Ro

Uhhh, the Feds told you it was ok to utilize your old SSN/address if a juicy bank bonus came up? I hope the risk is worth whatever your witness protecting yourself from…

adam d
adam d

…………
lol @ risk management.

Ferris
Ferris

Wow that’s epic for churning. I’m lucky to have P2, but you have P1.1.

Mike M.
Mike M.

LMAO

Toad
Toad

It appears that there is one branch in IN and 2 in WI as well…

IN – Clearwater
WI – Brookfield
WI – Elm Grove

I suspect people around those areas or perhaps in those states may also be able to open.

MJG
MJG

Going for this one, I got approved. Spouse was “referred” and it said they would reach out. Not sure why it was different for her. Mentions a signature card needing to be turned in but there’s no document to print. Maybe they will mail it. The language made me nervous but there doesn’t seem to be a hard pull.

Toad
Toad

Also got “referred” boooooo.

JuicyJosh
JuicyJosh

You in IL Dr Toad?

Toad
Toad

Of course not, don’t be silly. Doesn’t bode well for out of state attempts.

Toad
Toad

Official denial reason: Chex. At least I have a lot of diversity in my Chex report…no mention of being out of the service area, but probably not worth attempting since if you are chasing out of state, your report is likely as diverse as mine.

MJG
MJG

Update: ChexSystems denial came by email today. It mentioned EWS as well. I’m guessing we’re all screwed here on that account. I don’t know my exact Chex number but it’s probably 5+/12.

Oh well, win some lose some.

Gal
Gal

What have people been using as their direct deposit source? anyone know of Schwab brokerage works?

Chatan
Chatan

For those of you that were able to successfully open an account, are you located in Illinois or were you out of state? TIA…

ABC
ABC

Opened. I live in Illinois, Chicago. No cc funding allowed

ABC
ABC

… apparently not. Acct app was rejected two days later due to Chex. I reckon ~12-14 accts opened in the past 12 mos

Joe
Joe

Chicago, IL

Electroman
Electroman

Are you sure this is IL only? The landing page doesn’t have that restriction. Their “about us” page only mentions branches in WI and IN.

Tim
Tim

When you hit the link, the first thing it asks for is your zip code. If your zip is eligible it then asks which branch is most convenient for you. There are 8 branches in IL, 2 in WI, and 1 in IN.

taro
taro

denied for chex a day later ugh…im IL too..guess theyre just sensitive

EO
EO

Same for me. In IL (not near branch) but denial based on Chex. I’m lol/24.

Nil
Nil

Same for me. IL. Denied on Chex. Not many accounts in last year, probably 3-4.

TWoK
TWoK

If you choose to print out the employer direct deposit form you can get the routing and account numbers…

IN account approved.

Dylan
Dylan

Anyone know what counts as a DD for this bank?

CreditGuy1234
CreditGuy1234

Do those getting approved live near a branch? I put in my IN zip code (no branch within 150 miles) and said no product available. I then inputted the Clearwater IN zip code where there is a branch and it hard coded it on my application. No way to change it and put in my correct zip code. Wondering about a workaround?

Tim
Tim

I live 70 miles away from the nearest branch and was approved.

SW
SW

I’d venture that this is available in IL, IN, and WI. Account app opens to CIBM bank (https://www.cibmbank.com/) which has branches, under the names of Central Illinois Bank, Marine Bank, and Avenue Bank, in all 3 states:

https://www.centralillinoisbank.com/locations.html [Central IL]
https://www.marinebank.com/locations.html [Central IN/Milwaukee, WI]
https://www.avebank.com/wheaton.html [Chicago, IL]

Apps to each of these banks open using the same CIBM interface. They all offer a $250 bonus right now on their home pages (fine print says Accelerated Checking limited to 1 per SS#), but if you’re location eligible, Avenue Bank is offering 3% APY with seemingly the same requirements and could be the better account to open, if you’re interested in it.

Charles Mann
Charles Mann

I opened an acct and live in Chgo; hope I get the bonus.

Ryan
Ryan

Declined due to Chex sensitivity.

I have about 80 accounts in the last 2-3 years.

Brian
Brian

LOL.

adam d
adam d

“Congratulations…
You Have Successfully Set-Up Your New Account!”

+35 checking accts past few yrs, I live 2 miles from branch. anybody from Chicagoland, there is a branch in wheaton. doesn’t seem chex sensitive, previous declines were prob due to vicinity of branch.

adam d
adam d

nvm, i guess ill wait a few days for the john deere letter or not and report back with DP

Jeremy K
Jeremy K

Denied. Probably due to address (Madison, WI which is not near a branch).
Might be Chex too. I’ve had 30+ accounts in the last 1.5 years. ¯\_(ツ)_/¯

“Thank you for your interest in opening an account with our financial institution. We regret that we are unable to open an account for you at this time as your account history does not meet our minimum requirements. Our decision was based in part on the information provided by ChexSystems. ChexSystems did not make the decision to decline your account request and is unable to supply specific reasons as to why we are unable to open your account.”

Anonymous
Anonymous

Denied due to Chex. 12 accounts in the last 6 months, 15 accounts in the last 2 years. Address in the MKE area.

SW
SW

Denied for Chex! I’m about 45 mins away from nearest branch (it’s in my state) so I’m thinking they must be sensitive? I’m around 17/12? This is my first Chex denial =(

“Thank you for your interest in opening an account with our financial institution. We regret that we are unable to open an account for you at this time as your account history does not meet our minimum requirements. Our decision was based in part on the information provided by ChexSystems. ChexSystems did not make the decision to decline your account request and is unable to supply specific reasons as to why we are unable to open your account. “

jon
jon

Denied for chex. I’m probably only about 8/12 too. First chex denial 🙁

C
C

In IL, near a branch – application was successful… until the next day when they rescinded it back based on Chex! Pretty annoying since one goes through the entire (somewhat laborious) online account setup. I don’t have the precise number atm, but I would say I’m also about 8/12.

Marc
Marc

Applied when this post came up and haven’t received anything in the mail yet. Bank funding went through couple days ago.

Vince Wang
Vince Wang

It’s not very clear what the “qualifications” are for the $250 bonus.

Is this the requirement to receive the bonus? “Customer must set up e-statements through online banking, establish a monthly direct deposit and perform 12 debit card purchases each month”?

Thanks!

Charles Mann
Charles Mann

Applied online a few weeks ago, initially approved, then got a letter a week or so later; denied because of Chex.

PD
PD

Also denied due to Chex.

shak
shak

I live in IL, 70 miles from a CIBM branch with a 6/12 CHEX record
10/25 app submitted and approved online with $100 initial funding ACH pull from my base bank.
10/25 instruction email from CIBM as to how the funds verification will happen. (the two small deposit method)
10/26 email from CIBM with online docu-sign New Account Signature Card(s) and New Account Disclosures instructions
10/27 email from CIBM stating documents completed.
10/28- 11/04 jacking around with two small deposit verification for initial $100 funding.
11/05 My base bank sends email notice… $100 transferred to CIBM
11/09 CIBM receives $100 deposit.
1109-11/13 jack around setting up full access to online banking, PITA… and using ABC Gift Card/Card Cash and SERVE to push funds to CIBM to check coding for Direct Deposit.
11/13 CIBM shows two small deposits from SERVE. Set up ACH…hoping for a direct deposit designation from CIBM.
11/14 ePay CardCash Exchang PPD \CODS deposit shows up in CIBM account.
11/15 EXCHANGE SERVE ENTERPRISE PPD \CODS deposit shows up in CIBM account.
The PPD nomenclature is encouraging! Like Trump says: “We’ll See”!
No debit card yet…supposedly in the mail

Andy
Andy

Similar experience – this bank blows. The idea of working with a small, local bank is appealing, except when their systems are completely out of date and their service sucks.

I’m on the same timeline as shak – applied on 10/25, but my initial $100 funding didn’t go through until 11/13. I have a routing/acct # but still don’t have online banking access – nearly a month later!

I’ll still probably try to get a DD setup from Paypal or Fidelity, but I’m not optimistic about the bonus.

Ironically, they just sent me a survey today that included questions “How can we exceed expectations…” HAH! It had the option to have a manager contact me, so we’ll see where that goes. What a joke.

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