This offer has now expired, click here to view more checking promos.
Offer at a glance
- Maximum bonus amount: $100
- Availability: WI & MN only [Location finder]
- Direct deposit required: Yes, $1,000 per month. Looks like only a real employer DD will trigger the bonus, paypal + Ally ACH did not work.
- Additional requirements: Six bills paid online, 15 debit card purchases
- Hard/soft pull: Soft
- Credit card funding: Unknown
- Monthly fees: $2.95-$5.95 (avoidable)
- Early account termination fee: $100 if closed within six months
- Expiration date: February 28th, 2015
Contents
The Offer
- Open a Checking by You or The Works account with Bank Mutual and you can receive a $100 sign up bonus if you complete the following:
- Add a direct deposit
- Pay three bills online and
- Make 15 debit card purchases within 60 days of account opening
The Fine Print
- Must open account at a branch.
- Bonus will be credit on the 120th day of account being opened.
- Limit of one $100 bonus per household
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The Works $5.95 Monthly Fee
It’s not possible to waive the monthly fee on the “The Works” account.
Checking By Your $2 Monthly Fee
There is a $2 monthly fee, this can be waived if you opt for e-Statements and receive direct deposits of $1,000 or more per month
Early Account Termination Fee – $150
If you cancel your account within six months, Bank Mutual will take back the $150 bonus on offer.
Our Verdict
In the past Bank Mutual has offered a checking bonus of $150 with the same requirements. I wouldn’t recommend this $100 bonus to potential applicants because the requirements are quite high for a relatively low bonus. This is especially true because it doesn’t look like an ACH transfer will trigger the direct deposit requirement.
If you want a better bonus, click here for a whole page of them. You can also view our complete listing of new bank account signed up bonuses as well.
Direct link to offer | Screenshot of offer
Hat tip to reader Anthony