Update 12/14/18: Bonus has been increased from $100 to $200. There is also a $100 referral bonus (for the person referring). Not sure if the person signing up can get the $200 bonus if being referred or not.
Offer at a glance
- Maximum bonus amount: $200
- Availability: Must open in branch, all branches are in WI [Branch locator]
- Direct deposit required: Yes, $500+ per month
- Additional requirements: Closure of checking account at another financial institution
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Expiration date: None listed
The Offer
- Receive a bonus of up to $200 when you open a new East Wisconsin Savings Bank Go Free Or Go 50+ Free checking account. Requirements as follows:
- Set up your payroll or social security benefit checks to deposit directly into your EWSB checking account. First direct deposit must occur within 60 days of opening account.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Neither account has any monthly fee. Wasn’t able to find a fee schedule, so unsure if an early account termination fee is charged or not. They do also charge a fee of $4.95 for using Bill Pay (waived first month and waived any month you pay two of more bills).
Referral Bonus
They also mention a bonus of $100 when you refer a friend. It isn’t clear if you can do this and your friend can still get the $200 bonus or not.
Our Verdict
Deal is much better now that it’s for $200 instead of only $100. We still need to know if it’s a hard or soft pull to open the account before we add it to our best bank bonus page. As always please share your experiences with this bank/bonus in the comments below.
Big thanks to reader, David who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- 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
Deal is still up, new link is here and I don’t see the closure requirement or dollar amount for DD on the page anymore.
I don’t see this active anymore, leads to their mortgage promo now? Maybe it’s not active? was going to give them a call Monday/Tuesday when they open
Where did you see this piece, and how the heck would they verify it?
“Additional requirements: Closure of checking account at another financial institution”