Offer at a glance
- Maximum bonus amount: $200
- Availability: Must open account in branch and print this flyer, they have branches in Milwaukee and Waukesha with one opening in Brookfield/New Berlin soon. WI only
- Direct deposit required: Recurring direct deposit of at least $250+
- Additional requirements: 10 debit card transactions
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Six months, otherwise bonus is forfeit
- Expiration date: None listed
The Offer
- Print this flyer and present it in branch (branch locations on Flyer) to receive a $200 checking bonus from First Federal Bank of Wisconsin. You must also complete the following requirements:
- Set up a recurring direct deposit credit of $250 or more
- Make at least 10 signature based transactions
The Fine Print
- Requirements must be completed within 45 days of account opening (transactions must post within this timeframe)
- Cash bonus will be deposited into account within 60 days of account opening
- Limit of one bonus per household
- Not valid for those who have been an owner or signer on an account within the past three years
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Account must be open for six months, otherwise the account will be forfeit. Your best bet to keep fees low is to open their Freedom checking account which comes with no monthly fees or minimum balance requirements, you need at least $100 to open the account.
Our Verdict
I have three main issues with this checking bonus:
- You have to open in branch
- We don’t know whether it’s a hard or soft pull
- We don’t know what is considered a direct deposit
If you go in branch, you should be able to find out if it’s a hard or soft pull – so for those who live near a branch there is really only the last point to consider. If you can easily change your employer payment then this is an easy bonus (assuming no hard pull).
If you have any experience with this bank, please share them in the comments below.
Hat tip to Maximizing Money
