Posted by William Charles on February 8, 2020
Bank Account Bonuses

Published on February 8th, 2020 | by William Charles


[IL only] Old Second Bank $200 Checking Bonus

Offer at a glance

The Offer

Direct link to offer

  • Old Second Bank is offering a $200 checking bonus. Bonus is broken down as follows:
    • Get $50 when you – Open a new checking account online with promo code EM2 (or open in-branch and mention this ad), get a debit card, and enroll in eStatements.
    • Get $100 when you meet the previous requirement and – Complete 2 or more direct deposits totaling $500 or more
    • Get another $50 when you meet the requirements for the first $50 bonus, and – Open a Money Builder Savings account

The Fine Print

  • An account is not eligible to receive a cash bonus under this offer if 1) the primary account holder currently has an existing personal checking account (Basic Checking, Convenience Checking, Interest Checking, Interest Plus Checking, Military Checking, Minimum Balance Checking, Premier Checking, O2 Checking, Premier Plus Checking, Convenience Plus Checking and Prime Time Checking (“existing personal checking account”) at Old Second National Bank, 2) has had an existing personal checking account open in the 12 months prior to the date of account opening, or 3) the primary account holder has received a personal checking account-related bonus in the twenty-four months prior to the date of account opening.
  • The bonuses described in this ad are limited per primary account holder, regardless of the number of accounts opened.
  • The new “personal checking account” (02 Checking, Premier Plus Checking, Convenience Plus Checking, Military Checking, and Prime Time Checking) must be opened during the promotion period with the code and must have a positive balance on the 90th calendar day from the date the new personal checking account was opened in accordance with the bank’s procedures.
  • Offers are only available on personal checking accounts and the Money Builder Savings account; business accounts, trusts accounts with EINs, Health Savings Accounts, employee accounts and estate accounts are excluded from this offer.
  • To receive the first $50 cash bonus,
    • 1) provide the offer code and open a new personal checking account, subject to approval,
    • 2) apply for, and be issued, a debit card tied to the personal checking account within 90 calendar days of account opening and
    • 3) enroll in e-Statements within 90 calendar days of account opening.
  • To receive $100 cash bonus,
    • 1) you must first meet the requirements of the first $50 cash bonus and
    • 2) receive two or more direct deposits totaling at least $500 in the personal checking account within 90 calendar days of account opening. For purposes of this bonus offer, a direct deposit is defined as any payment made by a government agency, employer, or other third-party organization that is made via an electronic deposit. A direct deposit does not include teller, ATM, mobile, remote deposits, or transfers between accounts at Old Second National Bank.
  • To receive the second $50 cash bonus,
    • 1) you must first meet the requirements of the first $50 cash bonus;
    • 2) open a Money Builder Savings account, which requires a minimum opening deposit of $1,000;
    • 3) build your savings by depositing funds; if your deposited funds total $5,000 on the 90th calendar day from the date you opened the personal checking account and your account has a positive balance, you will receive any cash bonuses for which you qualified by the 100th calendar day following the date you opened the personal checking account.
  • Offer expires April 30, 2020.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Money connection account has a $3.95 fee if you opt for paper statements, this is waived with paperless statements enabled.

Early Account Termination Fee

According to this comment there is an early account termination fee of $25 if closed within 90 days.

Our Verdict

Bigger than the previous $150 bonus, but this one also requires opening a money market account. You also get $50 for opening the checking account, whereas the previous offer was $100 so that was the better offer for people that didn’t want to do the direct deposit requirement. I’ll still be adding this to our list of the best checking account bonuses.

Hat tip to reader TD

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Brian C 🐕

William Charles I don’t see anything in the terms about having to be an Illinois resident or any link on the text to a DP

Can u clarify this restriction?


On the application page, at the top, under before you apply:

You must be:
A U.S. Citizen
A resident of Illinois or an existing Old Second Customer and
18 years of age or older

Brian C 🐕





Just a heads-up – I’ve been trying to trigger the $50 bonus for DD twice now (Capital One and SoFi Money pushes have failed).

Not sure if they’re getting more strict.

Guy who buys stuff
Guy who buys stuff

Bold marketing– “we’re old, and not #1”


Massive pain in the ass to deal with them, and I used to live walking distance from their headquarters. When you open an account online, they’ll call you and then go line by line through everything anyway. Their online banking is utter trash. I was also told account opening bonuses are once per lifetime, although I’m not sure if it had been 24 months or not when I tried the second time.


I opened under the $150 bonus last year. CapOne worked for DD and bonuses posted quickly so no complaints. Their website could definitely be better, and I could use less emails from them trying to sell products but overall a relatively painless experience. I still use it for PayPal linking, there’s no reason to close it since it is once in a lifetime bonus.

adam d
adam d

fyi, when u close this, the lady basically hounded me and called and asked if i wanted to close after no activity after the bonus. once lifetime bonus so this $200 is worth dong, i did it for $150

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