Posted by William Charles on November 9, 2019
Bank Account Bonuses

Published on November 9th, 2019 | by William Charles

95

[IL only] Wintrust Bank $300 Checking & $200 Savings Bonus

Update 11/9/19: There is now a $200 savings bonus as well. Hat tip to reader Matthew R

Update 10/6/19: Deal has been extended, there is no longer any expiration date listed.

Offer at a glance

The Offer

Direct link to offer

  • WinTrust Bank is offering a bonus of $300 when you open a new total access checking account and complete the following requirements:
    • Enroll in online banking
    • Activate eStatements
    • Complete monthly direct deposits totaling $500 or more for two consecutive months after the first calendar month your account is opened
  • Open a statement savings account when you deposit $15,000 or more during the month of account opening and for the qualification period (unclear how long that is)

 

The Fine Print

  • This Total Access Checking account bonus offer is not available to existing or closed checking account customers of Wintrust Financial Corporation and its subsidiaries (WTFC) or its active employees.
  • Limit one bonus payment per customer, regardless of the number of accounts opened.
  • If you qualify for this Total Access Checking account bonus offer, you are ineligible to receive this Total Access Checking account bonus offer from any other WTFC location.
  • If you qualify for any other WTFC savings offer it may be combined with this Total Access Checking account bonus offer.
  • Your new account must be open, in the same product, and have a balance greater than zero to receive the bonus payment.
  • The $300.00 bonus payment is subject to IRS 1099-INT reporting and may be considered income for tax purposes for the tax year in which the bonus was paid.
  • Bonus Qualifications.
    • (i) Open a new Total Access Checking account from July 1, 2019 through September 30, 2019;
    • (ii) Open a Total Access checking account via this website page https://www.wintrust.com/tac;
    • (iii) have monthly occurring direct deposits totaling $500.00 each month made to your new account for 2 consecutive calendar months after the calendar month your new account was opened (qualification period); and (v) enroll in online banking and active e-statements within the Qualification Period.
  • 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 or remote deposits, wire transfers between accounts at WTFC, external transfers from other accounts at other financial institutions at ATM/debit card transfers.
  • After you have completed all the above bonus qualifications, we will deposit the bonus payment into your new account within thirty (30) calendar days after the Qualification Period.

Avoiding Fees

Monthly Fees

This account has no monthly fees, according to the fee schedule a reader sent us

Early Account Termination Fee

There is no early account termination fee.

Our Verdict

Previously the best offer we have seen has been $100 and another $50 for opening a savings account, so this bonus is significantly better. This bonus is definitely worth doing as it’s nice big bonus and the requirements aren’t too difficult to meet. Because of that we will add it to the best checking bonus page.

Hat tip to reader youngestofallthebuck

Useful posts regarding bank bonuses:



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Celia
Celia

I did this offer earlier in the year, about 90 days or so for the bonus to post. Also opened the MM account for the 12 month guaranteed interest rate of 2.25%. Keeps some money locally accessible at a halfway decent rate.

Happy
Happy

You did this as an in-state or out of state of applicant?

Celia
Celia

In state.

MikeyBee
MikeyBee

Am I correct that the first direct deposit has to be made in the month immediately following the month in which the account is opened? I just opened my Wintrust account this week, and the first month my direct deposit will change is September. I asked the branch banker and am awaiting his reply. As with many questions, I have learned I won’t know for sure that I’ll get the bonus until I get the bonus.

Celia
Celia

I thought they told me with 69 days, it took about 30 days for my first one to hit.

Did you do it online? I did in branch and there’s a printout with a lot more detail of the bonus requirements. Tossed mine when the bonus paid out.

MikeyBee
MikeyBee

Branch manager called me back to say the first direct deposit need not be in the month immediately following the month the account is opened. We shall see.

Mike L
Mike L

That rate has been lowered to 1.65%

gabe
gabe

there is no credit card funding

Chant
Chant

US citizenship required to open online.

J
J

They are Chex sensitive in branch. I tried to open an account from out of state, but they said I had 2 Chex inquiries in the last month and would not open.

Dayn_Perrys_Vape
Dayn_Perrys_Vape

I opened in branch without issue, and I’d opened 20+ accounts in the couple of months prior.

Happy
Happy

I hope I am not missing something obvious as I don’t see a statement in the offer that restricts it to IL residents only. Under the bonus qualifications terms it says “Open a Total Access checking account via this website page https://www.wintrust.com/tac;”. This means one don’t need to be in branch to open the account. Unless there are previous data points for this offer regarding geographical restrictions, I am willing to give it a try and report back.

aabdoc123
aabdoc123

I just tried opening an account from out of state and after entering my address info, it rejected me.

Atit
Atit

Any DP on what counts as DD?

Bikini Patrol
Bikini Patrol

tried to use schwab brokerage as my DD haven’t gotten the bonus yet but some guy said it take 90 day? so TBD

Matthew
Matthew

Update? Bonus?

Brian C 🐕

Bikini Patrol any update?

Did the bonus eventually post?

Bikini Patrol
Bikini Patrol

one Rep said it counted another one said it shouldn’t have. I tried BSing that it was how my employer paid me. after many calls and possible rejection they finally gave it to me. Although it may have been cuz of me making the DD a month later than I was suppose to its really unclear. I will say a guy below said it worked for him so maybe it was bc I started my dd too late cuz the dumbass banker gave me the wrong account number and it took over a month for me to figure out the problem.

Mike P.
Mike P.

I’ve tried to apply three different days now and I keep getting the error, “Unfortunately, we cannot process your application.” When I call the number the guy says it’s a network issue and to try again. Do you think it’s a coincidence that my ChexSystems is frozen? /s

Looney Tunes
Looney Tunes

Think that would depend on where in the application process you get the error message.

Does it happen at the end of the application or in the beginning? If at the end then having your chex frozen could be the culprit, if in the beginning then it is possibly a network issue.

Mike P.
Mike P.

At the very end.

Looney Tunes
Looney Tunes

Guess you’ll have to unfreeze and try again since you’ve tried a couple days already.

No one else indicates that they’ve opened an account online since this was posted on the 14th or in any of the previous offers from Wintrust (that I could find anyways).

Looks like you’ll have to be the DP on this.

Mike P.
Mike P.

I’m still waiting on my PIN; as soon as I get it, I’ll lift the freeze temporarily and reapply. Happy to be the DP here!

Mike P.
Mike P.

I did a temp lift and the Wintrust app went through.

Bikini Patrol
Bikini Patrol

What have people been using to trigger direct deposit? I typically use my Schwab brokerage account to trigger direct deposits has anyone had success using Schwab with them?

Money
Money

Any data points for what works for direct deposits?

reventon04
reventon04

This bank is definitely inquiry sensitive. Just got denied for 15+ over the past year, referencing the Chexsystems:

NOTICE OF ADVERSE ACTION

Notice Date: August 08, 2019

We are sorry but we are unable to accommodate your request to open a deposit account with our financial institution at this time. Our decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below.

Vince Wang
Vince Wang

I closed the account a few years ago. Do I qualify for this bonus? Not sure if they have “Once Per Lifetime Rule”. Thanks

adam d
adam d

did you ever fund out?

cannadawolf
cannadawolf

want to know as well

ctgottapee
ctgottapee

The offer sheet says not available to current or closed account customers of the account you are trying to open. So technically, if you had a different type of account MoneyMarket checking instead of Basic, you may qualify.
Also says only one offer per customer under the entire umbrella of Wintrust banks, so trying a different banking member would not qualify you.

bradley
bradley

i wonder if ACH transfers trigger as DDs for wintrust. no datapoints it looks like unfortunately. tough for me to do legit employer dd atm

Brian C 🐕

bradley did u ever try and ach?

Any datapoints?

John Doe
John Doe

I just opened an account today in-branch. The banker told me in addition to the requirements above, your balance should never hit $0. She said a customer asked her why he still hasn’t received his bonus even after meeting all the requirements above but his account hit $0 twice which disqualified him. TBH I don’t know if she’s telling me the truth, and it’s not specifically mentioned in the T&Cs, but just a heads-up. Might be a good idea to leave at least $1 in the account, to be on the safer side.

I was also told that you could also withdraw money from any ATMs (I’m assuming within US) and there will be no fees. If there are, they’ll be reimbursed for up to 5 charges/month.

Matthew
Matthew

New terms of the Savings offer require balance to be greater than $0 to receive bonus. Notably the flyer does not specify that for the Checking bonus.

Nick
Nick

Can I do this if I did the North Shore Bank bonus?

E0
E0

I’d like to know this too. Closed mine in May.

Mali
Mali

They do pull chex. Tried to open in branch as out of state resident but the banker said they are not a good choice for me since I don’t live in IL.

Dinarte
Dinarte

Same. I was able to open the account and then the branch manager closed it once she found out I was out of state

adam d
adam d

has anybody churned this even with the 1 per lifetime language? I called and they said I opened one in 2017, may attempt though.

Brandon
Brandon

The previous offer did have the “Open a new Total Access Checking account from July 1, 2019 through September 30,2019” language but the link is still active and now has that language removed. Think I’ll try and go for it.

https://www.wintrust.com/cubs.html

Peter
Peter

Womp…..denied due to Chex

Connor
Connor

Don’t open a account with Wintrust bank. I was half way thru the promotion when they closed my account due to a pay check I deposited in the mobile app. They said the check was fraudilent and wanted me to bring it to them. They said I wouldn’t get the funds Intill the investigation is over. There was no time frame given. I refused. They closed my account and refused to give me the bonus. This is the worst bank i ever dealt with. I’ve been churning bank account bonuses for years with no problems. I took the check to CIBC and had no problems.

Ro
Ro

Just to verify, the method to “Activate eStatements” is “Change Document Delivery” method to “Online” for Statements in the “Add Online Documents” page?

MikeyBee
MikeyBee

My wife and I each got $300 bonus posted this morning, 86 days after opening the accounts, 30 days after my second direct deposit, 2 days after her second direct deposit. Can’t discern a pattern. Branch manager was right, the first direct deposit need not be in the month immediately following the month in which the account is opened.

El Loco
El Loco

You’re saying your 1st DD hit in the month of account opening, 2nd in the following month, and you still got the bonus?

Celia
Celia

I think they’re saying that the first DD didn’t hit in the month immediately following opening. If it hit 86 days after opening, 30 days after 2nd DD, it sounds like it means the DD didn’t start for awhile.

When I did the offer, I started my DD within 4 weeks but the bonus didn’t hit until 91 days after account opening.

MikeyBee
MikeyBee

Forgive me if my math was off. Opened both accounts July 17. My first DD hit Aug 1. My second DD hit Sept 3. My wife’s first DD hit Sept 11. Her second DD hit Oct 9. We each got a $300 bonus posted Oct 11. My main point is that my wife got the bonus without having a DD in August.

Nick
Nick

I’m guessing they just post all their bonuses on the same date regardless of your actual DD dates. I received my bonus on 10/11 too after opening around July 16, having first DD hit 7/31, then every 15th and 30th until now.

So technically my second month was august 15th, and thirty days after that should’ve been around 9/15. The way their terms are worded it seems like it almost gives them anywhere from 90-120 days to post. This would also fit with my theory they just do batch posting on specific days.

Shaw
Shaw

Any DP on what counts as DD? I won’t be able to use the employer DD. Does ACH from Chase or any other bank work?

Gene P.
Gene P.

I used Paypal push but no lucky for me yet. Still wait for the thirty calendar days after the Qualification Period.(Early Nov for me if it works)

Matthew
Matthew

Update? Did paypal work?

MikeyBee
MikeyBee

Not a DP, but their fine print says: “A Direct Deposit does not include teller/ATM/mobile or remote deposits, wire transfers between accounts at WTFC, external transfers from other accounts at other financial institutions at ATM/debit card transfers.”

Matthew
Matthew

Every bank’s bonus terms for DD requirement say that.

Aaron
Aaron

I did 2 from Cap One, and 2 from Chase & got the bonus (this was an earlier bonus that was only $100, but same requirements).

Matthew
Matthew

Any idea which triggered?

ashely
ashely

If we closed the Wintrust bank before, we are not eligible for this offer?

JR
JR

DP here: I opened a Wintrust account in January of this year but messed up getting the bonus and closed the account in March. I took a chance and opened an account with this offer in September. Bonus posted in October.

Dan
Dan

offer is not available to existing or closed checking account customers of Wintrust Financial Corporation (‘WTFC’) and its subsidiaries or its active employees

David
David

Can’t find savings offer anywhere. Link takes me to Checking bonus offer only.

Gina
Gina

Any Luck?

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