[Expired] [IL or IN only] MB Financial Bank $250 Checking Promotion

Deal has expired, view more bank bonuses here.

Offer at a glance

Maximum bonus amount: $250
Availability: Must reside in Lake County, Indiana, Illinois
Direct deposit required: Yes, $500+ per month
Additional requirements: Open savings with $5,000
Hard/soft pull: Soft
Credit card funding: Unknown
Monthly fees: $9.95+, waiveable
Early account termination fee: Full bonus, six months
Expiration date: None listed

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
4 Our Verdict

The Offer

Direct link to offer

Open and maintain a classic or signature checking account with MB Financial and receive a sign up bonus of $250 when you do the following within 90 days of account opening:
- Establish direct deposits totalling $500 per month or more (earn $150)
- Open and maintain a new MB Financial Bank personal statement savings or passbook savings account and maintain an average monthly balance of $5,000 or more (earn $100)

The Fine Print

Account holder must reside in Illinois, Lake County, Indiana. Open and maintain a new MB Financial Bank, N.A. personal Signature or Classic checking account to earn up to $250 by having the following activities post to the account within the first 90 calendar days of its opening:
- 1) Establish monthly direct deposits totaling $500 per month or more
- 2) Open and maintain a new MB Financial Bank, N.A. personal Statement Savings or Passbook Savings account and maintain a monthly average balance of $5,000 or more.
Having activity 1) post to the new checking account within the first 90 calendar days after opening will earn $150.
Completing activity 2) within the first 90 calendar days after opening will earn $100. Having completed both of these activities within the first 90 calendar days after opening of the checking account will earn up to $250.
Earned amounts will be paid by MB as a credit to the checking account within 60 calendar days of the transaction being verified, following the 90-day period from opening.
Account must remain open at least six months after the account opening or the credit will be reversed.
Minimum balance to open a checking or savings account is $50.
New money only; funds must not have been on deposit at MB for the past 90 calendar days.
Account must be in good standing (open, with a positive balance) to receive payout.
Offer may not be combined with any other promotion.
We reserve the sole discretionary right to refuse to open an account or close an existing account for any reason.
One new checking related bonus per customer per 12 month period.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

MB Classic Checking $9.95

Monthly fee is waived if you do any of the following:

1. Monthly qualifying deposits totaling $500 or more. (Qualifying deposits include teller deposits, ACH credit (direct deposit), ATM deposits and incoming wire deposits.) or
2. Average balance of $3,000 in related deposit accounts. or
3. 10 total payment transactions.

MB Signature Checking $19.95

Fee is waived if you do any of the following:

1. Maintain a $5,000 average daily balance in this account or
2. $15,000 in related deposit balances5 footnote or
3. $25,000 in related deposit and home equity loan/line balances.

Early Account termination fee

If you close your account within six months of opening, you will forfeit any bonus you have received.

Our Verdict

They’ve previously offered a bonus of $200. This is a pretty good bonus, the downside is that you need to tie up $5,000 in funds and complete a direct deposit and keep the account open for six months to avoid any early account termination fee. If you have any experiences with this bank or bonus then please share them in the comments. You can view what we think the best bank account bonuses are here.

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