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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: UnknownÂ
- Monthly fees: $9.95+, waiveable
- Early account termination fee: Full bonus, six months
- Expiration date:Â None listed
Contents
The 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.
Big thanks to reader, SJ0 who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
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DP: Link to offer page now redirects to personal banking page. I called the branch on Madison and La Salle in Chicago, was told that they do not offer this anymore as they are now merging with Fifth Third bank.
CapOne still works as DD
Thanks, added dp
Can you get the business checking bonus and this personal checking bonus in the same year?
ie, I’m wondering if a business bonus bypasses this fine print: One new checking related bonus per customer per 12 month period.
Forgot if I already did a dp, but fidelity worked as DD for bonus.
Can anyone confirm how many $500 DD are required in the 90 day period….1 or 1 per month ergo 3?
Anyone had luck opening this outiside of Lake County Indiana? Like I am in Fort Wayne (Allen) county Indiana, thinking of trying. If no one has I probably will.
Any success with this? I’m in St Joe County, IN but have not attempted yet.
I’m in Marion County thinking about it. Wonder if either of you guys tried?
DATA POINT: MB Financial does not support adding external accounts for transfers, I signed up for promotion but this may not even be worth the hassle now…banker told me they did, online rep told me they do not after trying to add it myself. What a lame bank
Can anyone confirm how many $500 DD are required in the 90 day period….1 or 1 per month ergo 3?
You can push/pull via ACH from another account. This is not the only bank that does things like this. Some allow you to setup ACH, but then charge for it. For example Fifth Third charges $3 if you were to push money from 5/3 to external account. It does not for getting money into the 5/3 account. Associated Bank also charges $1. 5/3 has alternatives (Zelle), albeit I could not set it up for me. Kept giving errors.
Looks like Associated stopped charging a fee. When you go to Bill Pay>External Transfers it says a “fee may apply”, but doesn’t appear to charge one. I noticed it right after the update about two weeks ago. Zelle is a pain. You might have to contact the bank to reset your Zelle account. And it takes days to fix things… in my experience.
Wife and I signed up for this many month ago, but bonus is still not paid. Really hard to get hold of our banker. Will go to the branch tomorrow and close the accounts. This bank looks shady the moment we stepped in, should have relied our first impression and stayed away from this bank.
The same thing happened to me. I met the requirements and they didn’t pay out. Please HOLD THEM TO IT. You WILL get your bonus…just keep bugging your banker and don’t let them get away with this. They are crazy for advertising this and not paying out. They are legally obligated if you met all the requirements. Let me know how it goes!
Any update on this? Did they pay out?
No longer offered in “Philadelphia County, Pennsylvania”
Terms revised to say “Account holder must reside in Illinois or Lake County, Indiana”
All their locations are in Chicago, IL and extended suburbs and 1 in Dyer, IN as per https://www.mbfinancial.com/locations
Thanks, Yar! Updated post.
DATA POINT: Just opened, if you live near branch just walk-in, no need for email voucher. Also, they give you a 3×5 security deposit box free for 1 year ($25 key fee). I just didnthe $150 checking acct only. Will try Fidelity checking as a DD and report back.