Published on July 14th, 2019 | by William Charles1
[MN, In Branch only] Bank of Elk River $100 Checking Bonus
Offer at a glance
- Maximum bonus amount: $100
- Availability: In branch only, all branches are in MN [Branch locator]
- Direct deposit required: Yes, $500+
- Additional requirements: 10 debit card transactions, eStatements
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: One
- Expiration date: August 30th, 2019
- The Bank of Elk River is offering a bonus of $100 when you open a new personal checking account and complete the following requirements by September 30th, 2019:
- Sign up for eStatements
- Make 10 or more debit card purchases
- Set up a direct deposit of at least $500
The Fine Print
- Offer is available to customers who do not have an existing or prior consumer checking account at The Bank of Elk River.
- To qualify for the $100 bonus, you must open a new consumer The Bank of Elk River checking account with a minimum opening deposit of $100 (not including the $100 bonus) by August 30, 2019.
- In addition, you must sign up for eStatements, make 10 or more debit card purchases, and set up a direct deposit of $500 or more made into the account by September 30, 2019.
- Limit one $100 bonus per household.
- The $100 bonus is available with all Bank of Elk River consumer checking accounts, including non-interest-earning checking accounts and will be deposited on or before October 15, 2019 upon meeting requirements.
- Offer is subject to qualification and customer will receive a 1099 form for cash bonus at year-end.
- Offer valid through August 30, 2019.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
They offer a freedom checking account with no monthly fees.
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.
Not a massive deal, but might be worth doing if you live near a branch. Still need to know if it’s a hard or soft pull to open though.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times