First Midwest Bank, $300 Bonus for New Checking Accounts (IL, IN, IA, WI)

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First Midwest Bank, $300 Bonus for New Checking Accounts

First Midwest Bank is offering a bonus of $300 for new checking accounts in IL, IN, IA and WI only. You can open the account online or at a branch and then you need to complete the requirements listed below in order to get the bonus. Direct deposit is not required.

Offer

This offer is limited to new personal checking clients (individuals who have not maintained a checking account with First Midwest Bank in the past 90 days) who complete the following required qualifying criteria:

Open and fund a new Easy, Midwest, or Diamond checking account in branch or online by December 18, 2020. Minimum opening deposit is $100. Account opening subject to First Midwest Bank approval in its sole discretion. The account must be opened and funded with new money which is defined as funds not on deposit at First Midwest Bank within the last 90 days.
Make deposits totaling $2,500 or more within 60 days of account opening. Transfers from other First Midwest deposit accounts do not count as a deposit.
Make 10 debit card purchases of $25 or more with a First Midwest Mastercard^® debit card within 60 days of account opening. ATM withdrawals do not qualify.
Enroll in e-statements via Online Banking within 60 days of account opening.
You must download and log into the First Midwest Bank Consumer Mobile banking app and check your account balance within 60 days of account opening. If you do not have the mobile banking app on your mobile device/tablet, simply text iPhone or Android to 57759 from your device and a link to the mobile app will be sent to your phone.

Once all requirements have been met, a $300 bonus will be issued as a credit to the account approximately 120 calendar days after account opening in branch or online. If the account is closed or does not have a balance greater than zero on the day of bonus processing, the $300 credit will not be issued. Promotional credit may be subject to IRS 1099-INT form reporting and may be considered taxable as interest income to you.

Eligibility

Available in IL, IN, IA, WI.
Limit of one bonus per client, regardless of the number of accounts opened.
Offer is not available to existing First Midwest Personal checking clients (either as the primary or joint account holder), accounts that have been closed within the past 6 months, clients who received a promotional bonus in the last 12 months or First Midwest colleagues.

Fees

Easy Checking is probably the best option for this bonus. The account has a $7.49 monthly fee that can be waived with any of the following:

$100 average daily balance in Checking OR
total qualifying deposits of $100 or more per statement period OR
be at least 65 years of age

Guru’s Wrap-up

This is a good bonus of $300 and direct deposit is not one of the requirements. To get the bonus you need to pen an account, deposit $2,500 or more and make 10 debit card purchases of $25 or more within 60 days. You also need to enroll in e-statements and download and log in the app.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

Offer Details

Promo Page
Bonus: $300
Account Type: Easy Checking
Availability: IL, IN, IA, WI
Expiration Date: 12/18/20
Type of Inquiry: Soft pull
Direct Deposit Requirement: No
Other Requirements: Deposit $2.5K, 10 debit purchases of $25, enroll in e-statements and download and log in the app
Credit Card Funding: Unknown
Monthly Fee: $7.49 (waivable)
Closing Account Fee: Account must be open to receive bonus