Posted by William Charles on April 13, 2019
Bank Account Bonuses

Published on April 13th, 2019 | by William Charles

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[Expired] [WI + IL Only] North Shore Bank $200 Checking Bonus – Direct Deposit Optional

Deal has expired, view more bank account bonuses by clicking here

Offer at a glance

  • Maximum bonus amount: $200 ($20 per month)
  • Availability: Must live, work, attend school or have immediate family in Wisconsin or Northern Illinois. Looks like you need to live close to a branch, otherwise they will open the account and then e-mail you later saying it’s closed. Read comments for more details.
  • Direct deposit required: Optional
  • Additional requirements: 10 debit card transactions or a direct deposit
  • Hard/soft pull: Soft 
  • ChexSystems: Unknown
  • Credit card funding: None 
  • Monthly fees: $4.95+, waive-able
  • Early account termination fee: $40 if closed within 180 days of account opening
  • Household limit: One
  • Expiration date: April 29th, 2019

The Offer

Direct link to offer

  • North Shore Bank is offering a bonus of $200 when you open a new checking account with the promotional code “APRIL SPECIAL“. Bonus is broken down as follows:
    • You receive a monthly $20 bonus when you either have 10 qualified debit card transactions or a direct deposit for that statement credit. You can receive this bonus for 10 months, starting the May 2019 statement

The Fine Print

  • New customer bonus is for new personal households only and not valid with other offers.
  • Excludes Student Checking Account.
  • Customers who have closed accounts in the past 24 months do not qualify for new account incentive credit.
  • Debit card or direct deposit bonus of $20.00 will be credited to the new customer’s checking account each month after the statement cycles for up to 10 months provided there are 10 qualified debit card transactions or a direct deposit for that statement cycle.
  • Statement credit will begin with the May 2019 statements.
  • ATM transactions will not qualify.
  • Direct deposit must be payroll, Social Security, pension or other government benefits.
  • Fees may be applied and could reduce earnings.
  • Existing consumer checking customers will receive the $50 incentive by May 20, 2019. For tax reporting purposes, a 1099 will be issued for all bonus payments.
  • When opening online use promo code April 2019
  • . Incentive credit will not be paid if promo code is retrieved from a deals website and North Shore Bank reserves the right to close customer’s accounts that do not live within our service area.
  • Visit northshorebank.com for details. Member FDIC.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Monthly fees are waived on all of their accounts for the first three months.

eChecking $4.95 Monthly

This is waived with debit card usage and eStatements or direct deposit (wages or social security) and eStatements.

Better-Than-Free $4.95 Monthly

This is waived with an average balance of $750 or $2,500 in relationship balances or any loan or direct deposits or 10 debit card transactions.

Early Account Termination Fee

If you close your account within 180 days of opening they will charge you an early account termination fee of $40.

Our Verdict

Keep in mind they frequently offer a bonus of $300, requirements and structure are the same but instead of being for a maximum of 10 months it’s for a maximum of 15. Because of that I’d recommend waiting until that bonus returns. I won’t be adding this to our list of the best checking bonuses.

Hat tip to reader Wisco

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