[OH, KY & IN only] Dearborn Savings Bank $150 Checking Bonus

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