Posted by William Charles on September 26, 2016
Bank Account Bonuses

Published on September 26th, 2016 | by William Charles

15

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

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Must reside in Lake County, Indiana, Illinois, or Philadelphia County, PA
  • 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

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)

mb-financial

The Fine Print

  • Account holder must reside in Illinois, Lake County, Indiana, Philadelphia County, Pennsylvania. 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.

Big thanks to reader, SJ0 who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

Useful posts regarding bank bonuses:



15 Responses to [IL, IN, or PA only] MB Financial Bank $250 Checking Promotion

  1. Adam D says:

    Can you only opt for the checking account $150 bonus and not opt for the savings requiremnt?

  2. Doug says:

    So any Illinois resident is eligible? I’m in Chicago, just wanna make sure. Always get confused when I read about counties for some bonuses.

    Realize this is a new post but anyone know if it might be hard or soft for the pull?

  3. Ryan says:

    I’ve read this four times and I can’t tell if a single DD will do the trick, if you have to DD three times- I’m assuming since it’s a 90 day period you have to make a $500 DD three times?

    Any help is appreciated.

  4. Nick says:

    I opened in Philadelphia branch and DD $500 each month from Discover. Can confirm it is a soft pull. Make sure you opt out of overdraft protection, or whatever they call it.

  5. alex says:

    Got my bonus on 12th. Tried paypal, discover and fidelity, fidelity seems the one working. Others two were marked as “P2P”.

  6. MikeyBee says:

    “…the downside is that you need to tie up $5,000 in funds and complete a direct deposit.” As I read it, only the Signature checking account requires a $5,000 balance; and only the Classic checking account requires a direct deposit. Either of those two accounts qualify for the bonus. I wonder if they let you open a Classic account to get the bonus, then switch to a Red account, which pays 1 percent interest?

  7. MikeyBee says:

    Oops, ignore my comment on the need to tie up $5,000, I see now that refers to the savings account. However, only the Classic checking requires a direct deposit.

  8. amar says:

    Account must remain open at least six months after the account opening or the credit will be reversed.

  9. Ted Silber says:

    I thought you could sign up online, but I got this message when I entered my information: “Your submission has been received. You will receive your discount code in your email box shortly.”
    I guess you have to open in a branch.

  10. Ryan says:

    DP: CapOne ACH works as DD, though I had to do it three times, which was a drag.

  11. Sara says:

    Any datapoints?

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top ↑