Offer at a glance
- Maximum bonus amount: $250
- Availability: Mequon, Wisconsin only
- Direct deposit required: No
- Additional requirements: eStatements and debit or credit card
- Interest Rate: Not specified, must contact Johnson bank
- Deposit required: $25,000
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: $10-$20 waive-able
- Early account termination fee: Unknown
- Expiration date: January 31st, 2014
The Offer
- Receive a $250 gift certificate to select businesses when you open a Money Market or Checking account with Johnson Bank and deposit at least $25,000 of new funds and maintain that balance for at least 90 days.
The Fine Print
- If balance falls below $25,000 you will not receive your bonus
- Must enroll in eStatements
- Must have a linked debit or credit card with Johnson Bank
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The essential checking account and signature checking with interest accounts will both be waived if you have a balance of $25,000 (which is required for this bonus). All of the savings & money market accounts will also have their monthly fees waived with a $25,000 balance.
Johnson Bank does not make their fee schedule public, so we’re not sure if they charge an early account termination fee or not.
Our Verdict
Whilst this offer applies to checking accounts, I really consider this bonus to be a savings bonus due to the requirements of needing a massive deposit to trigger the bonus. This bonus just has far too many unknowns to make it worth considering (hard pull/soft pull, what interest rate do they offer? etc etc).
I’ve contacted Johnson to try to get more information, but I hate when banks are not up front about their rates. Our favorite saving bonuses can be viewed here.
Direct link to offer | Screenshot of offer
Hat tip to Maximizing Money