Posted by William Charles on March 17, 2020
Bank Account Bonuses

Published on March 17th, 2020 | by William Charles


[WI, In Branch only] Monona Bank $300 Checking Bonus

Update 3/17/20: Deal is back and valid until April 30th, 2020. Not sure I’d recommend going in branch at this stage. Hat tip to reader Ethan

Update 9/8/19: Deal is back and valid until October 30th, 2019. Don’t have a direct link to the new offer, but available in branch. I believe the requirements are the same.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: In branch only, all branches are in WI [Branch locator]
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee:  $20
  • Household limit: Possibly one
  • Expiration date: April 30th, 2019 October 31st, 2019

The Offer

Direct link to offer

  • Open a new Monona Bank True Choices checking bonus and complete the following requirements to receive a $300 bonus:
    • Use two of the following:
      • Online and mobile banking
      • Debit and credit cards
      • Bill Pay
    • Set up regular direct deposits from your employer or social security.

The Fine Print

  • Your $300 bonus will be deposited into your new non-interest bearing account within 90 days after you complete the three easy steps above.
  • We really want to be your new bank, so while we truly value our current clients, this special offer is only available to households that have not received a similar bonus in the past and don’t currently have a checking account with us.
  • Offer expires on April 30, 2019.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find a full fee schedule so I’m unsure if there are any early account termination fees.

Our Verdict

Nice big bonus with no monthly fees to worry about. Downside is account needs to be opened in branch, given that it’s a soft pull to open this account we will be adding this to our list of the best checking bonuses. Might also be able to open a 4% APY CD up to $10,000 at the same time.

Useful posts regarding bank bonuses:

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These are some really vague terms…


I got this sheet when I opened my account:

Additional Terms and Fees for this Account (True Choices Checking w/$300 Bonus)

Bonus Information: You will receive a $300.00 bonus for opening this True Choices Checking account with periodic monthly direct deposits as well as the savings product of your cohice at the same time as your checking account. Then after opening two additional products or services and using your debit card and writing checks, we will deposit the $300.00 bonus into this account within 90 days of opening the additional products or services.

This looks to be a manually applied bonus, and the terms are on-purpose vague, so if you go for this one, I think you’ll want to be able to make some decent amount of real-looking debit card purchases. There’s also an ETF of $20 if you close within 90 days.


– 15 Feb: Opened account in branch
– 23 Feb-10 Mar: Legit debit card use here and there, 5 or 6 total
– 1 Mar: Employer DD, $500
– 2 Mar: Legit bill pay x1
– 18 Mar: Bonus posted


Closed today in-branch and it was as easy as could be. The teller remarked that since I was at a zero balance, I could have even done it over the phone.


Opened in early Jan, had one real direct deposit of $300 on 08 Feb, performed 1 bill pay on 15 Feb and bonus posted 15 Feb. Also was signed up for e-statements..

I requested a debit card but have not used it.


They also offer 4% 6-month CD up to 10k if opened at the same time.


They do pull ChexSystems. I got a chance to see their screen.


Deal is back until April 30, 2020 per here:


Lobbies are closed, so if you have a problem online I’m not sure how you get it resolved just FYI.




Is the 4% CD actually true?

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