Deal has ended, view more bank account bonuses by clicking here.
Update 1/31/23: Deal is back and valid until December 31, 2023. Hat tip to reader Gadget
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â MO, KS
- Direct deposit required:Â Yes, two direct deposits totaling $500+
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems:Â Unknown
- Credit card funding:Â Up to $2,000 per account (can open checking & then savings)
- Monthly fees:Â None
- Early account termination fee:Â $25, 90 days
- Household limit:Â None listed
- Expiration date:Â December 31, 2022
Contents
The Offer
- Hawthorn Bank is offering a $300 bonus when you open a new checking account and complete the following requirements:
- Use promo code CASH300
- Set up at least two direct deposits totaling $500 or more to your new account within the first 90 days of account opening
The Fine Print
- Offer is not available to existing Hawthorn Bank checking customers.
- To receive the bonus: 1) Open a new qualifying checking account, which is subject to approval; AND 2) Have two or more direct deposits totaling at least $500 made to this account within 90 days of account opening.
- Deposit accounts must be opened by December 31, 2022 when offer expires.
- Qualifying personal checking accounts include any Hawthorn Bank checking account except Opportunity Checking and Opportunity First Step Checking. Checking accounts may be opened with a $25 deposit. Qualifying savings accounts include Personal Savings, More Savings or Vacation Savings Accounts. Qualifying savings accounts must be opened within 60 days after the new checking account is opened in order to qualify for the $25 bonus.
- After the full 90-day qualification period, qualifying customers will receive a direct deposit of $300 (and an additional $25, for those who opened and maintain a savings account in good standing) to their checking account within 2-6 weeks of the qualifying period end date. Please mention this offer or use the offer code CASH300 in order to receive this incentive. Offer expires December 31, 2022.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account (this does have a $3 fee if you don’t opt in for paperless statements( and also an account that offers 3.01% APY.
Early Account Termination Fee
$25 fee is charged if the account is closed within 30 days of opening according to the fee schedule.
Our Verdict
There is a $150 business referral bonus as well. Requirements for this bonus are easy to meet and there is some nice credit card funding as well. Will add this to our best checking bonuses.
Hat tip to reader Curm
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
DP
Opened 10/24/23
Two real DD deposits
Bonus 2/21/24
Anyone else get their bonus yet?
Not here. Opened 8/2, so 90 days + 8 weeks is 12/26. Will complain on that day if no bonus
Never mind the above. Just received this afternoon after posting that message.
8/2 Opened
10/13 Last DD $250+
12/19 $300 bonus (and $25 savings bonus)
DP:
7/23 opened
8/4 real DD $250+
8/18 real DD $250+
11/23 $300 bonus posted
What was the line item for your DD’s? Thanks!
Direct Dep (Employer’s Name) I XXXXXXXXXXXX Pp
Just called and spoke with a CSR and confirmed that accounts can currently only be opened in-branch. Allegedly, opening an account online is not going away, but “is currently not available due to maintenance or some other issue, however, it should be available again at some point”, but there is no ETA.
Will update with a DP if I end up going in to open this.
Looks like it’s back to in-branch only. At least I have one on the corner.
Went thru then got email today saying denied and showed chex status
This is once again available through an online application. I applied and got an approval email the next day. (They had it as in-branch only since sometime in March 2023)
Are you in footprint?
Yes
Is this in-branch only now? I tried opening online yesterday and today received notification that they cancelled the app due to ‘system issues’. I don’t mind trying again if it’ll work, but don’t want to waste time if it’s in-branch only
is it churnable for out of the state?
Does anyone know if this can be churned? Pretty sweet bonus, and would love to be able to do again. Pretty easy to qualify as “not being an existing customer” if I’ve closed the account, but don’t know for how long it has to be closed? Has anyone churned this successfully, and if so how long did you wait?
I completed the offer in 2022 (open 9/22, bonus 11/22, closed 12/22). I attempted to apply on 9/1/23 and was told I was ineligible for the offer code “2023Cash300” since it was for “new customers” and they could see I WAS an existing customer.
I asked how their terms “Offer is not available to existing Hawthorn Bank checking customers.” applied to me as I was no longer an existing customer and have not received a response but will update when I do. I also asked if I will never be eligible for any further welcome offers for checking accounts. As of now, looks like it is not churable
Account was opened as of today with no comment on if bonus would apply. I will keep everyone updated when I learn more