Deal has now expired, view the best current bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount:
- Availability: Might be for Dearborn residents only? Bonuses are usually open to: Indiana (Dearborn, Franklin, Ohio, Ripley, Switzerland), Kentucky (Boone, Campbell, Kenton), Ohio (Butler, Clermont, Hamilton, Warren)
- Direct deposit required: Yes, no minimum specified
- Additional requirements: $4,000 deposit
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding:Up to $500
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
- Dearborn Savings Bank is celebrating 128 years in Dearborn Country with a new 1890 checking account. You can receive $128 for opening the new account & $100 a year for life.
- Direct deposit must be set up within 30 days of account opening
- Account must have a balance of $4,000 within 30 days of account opening
- $100 annual bonus will be deposited on account opening one-year anniversary if account has a $4,000 average annual balance
The Fine Print
- Offer can expire without notice.
- Direct Deposit MUST be set up within 30 days of account opening.
- Account MUST have a balance of $4,000 within 30 days of account opening to be eligible for promotion.
- Free checks promotion is limited to 2 box of checks per year
- Receive the $128 bonus when first direct deposit gets deposited into new account.
- $100 annual bonus will be deposited on account opening one-year anniversary if account has a $4,000 average annual balance.
- Restrictions will apply and Bonus Program may be discontinued without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee or not.
They also have a $150 checking bonus. It isn’t clear if the annual $100 bonus requires a direct deposit or not, but it’s not that great of a deal anyway. If you put $4,000 into a 2% APY account you’d be earning $80 anyway and some accounts earn at much higher rates than that. The initial $128 bonus is OK, but nothing crazy. Could be better if they allow credit card funding. If anybody signs up then please share your experiences in the comments below.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
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