Offer at a glance
- Maximum bonus amount: $150
- Availability: Must reside in one of the following counties:
- Indiana (Dearborn, Franklin, Ohio, Ripley, Switzerland)
- Kentucky (Boone, Campbell, Kenton)
- Ohio (Butler, Clermont, Hamilton, Warren)
- Direct deposit required: Yes, no minimum mentioned
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Initial opening page does mention credit card but unsure if it’s actually allowed
- Monthly fees: Unknown
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
The Offer
Direct link to offer (this page is linked to from their homepage as well)
- Open a new Dearborn Savings Bank (DSB) checking account and receive a bonus of $150 when you complete the following requirements:
- Have 1 recurring direct deposit
- 1 bill pay each month
- Sign up for online/mobile banking
- Download the CardValet app
The Fine Print
- The $150 will be deposited into your new checking account after 6 months if all requirements are met.
- You will have the first 30 days with opening your account to set up direct deposit and bill pay.
- Original deposit can not come from existing DSB account, must be new money.
- Only 1 new account per SSN.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
I wasn’t able to find a fee schedule or work out if any monthly fee is charged or not.
Our Verdict
Having to wait 6 months for the bonus is a bit annoying, as is the fact that I can’t work out if the account has a monthly fee or not. If it’s a soft pull and you can fund with a credit card though it’s probably still worth doing. As always please share your own data points and experiences in the comments. For now I won’t be adding it to the list of the best checking account bonuses until we know more.
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
This one was a bust for me. One of the requirements is to download the Card Valet app but they don’t specify how it has to be used. I don’t have an ATM card with them so I downloaded it, tried it for a bit, and pretty much forgot about it. They said I was denied the bonus for not downloading it. smh
Hard to come by KY bonuses lately if you live in Louisville. This is the 2nd Cincinnati suburb specific one that I have come across lately.