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

Published on November 9th, 2019 | by William Charles

65

[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?

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

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

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.

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