Old Second Bank, $200 Bonus with Checking & Savings (IL)

Old Second Bank has a bonus for new checking and savings accounts that comes in three parts. You can earn as much $200 in cash. This Old Second Bank bonus is available in Illinois only.

Offer

To receive the first $50 cash bonus:
- provide the offer code EM2 and open a new personal checking account, subject to approval
- apply for, and be issued, a debit card tied to the personal checking account within 90 calendar days of account opening and
- enroll in e-Statements within 90 calendar days of account opening.
To receive $100 cash bonus:
- you must first meet the requirements of the first $50 cash bonus and
- receive two or more direct deposits totaling at least $500 in the personal checking account within 90 calendar days of account opening.
To receive the second $50 cash bonus:
- you must first meet the requirements of the first $50 cash bonus;
- open a Money Builder Savings account, which requires a minimum opening deposit of $1,000;
- build your savings by depositing funds; if your deposited funds total $5,000 on the 90th calendar day from the date you opened the personal checking account and your account has a positive balance, you will receive any cash bonuses for which you qualified by the 100th calendar day following the date you opened the personal checking account.

Cash bonus may be subject to 1099 reporting.

Eligibility

Illinois residents only.

An account is not eligible to receive a cash bonus under this offer if 1) the primary account holder currently has an existing personal checking account (Basic Checking, Convenience Checking, Interest Checking, Interest Plus Checking, Military Checking, Minimum Balance Checking, Premier Checking, O2 Checking, Premier Plus Checking, Convenience Plus Checking and Prime Time Checking (“existing personal checking account”) at Old Second National Bank, 2) has had an existing personal checking account open in the 12 months prior to the date of account opening, or 3) the primary account holder has received a personal checking account-related bonus in the twenty-four months prior to the date of account opening.

Fees

Money Connection Checking has a $50 minimum opening deposit. No required minimum balance. eStatements are free. $3.95 monthly paper statement fee. Paper statement fee does not apply if primary account holder is 65 or better.

There’s a $25 fee if you close account within 90 days.

Guru’s Wrap-Up

A decent bonus, but it has a few requirements to get the full $200 bonus. It’s available in IL only and can be opened online.

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

OFFER PAGE
Promo Code: EM2
Bonus: $200
Account Type: Checking & Savings
Availability: IL
Inquiry Type: Soft pull
Credit Card Funding: No
Direct Deposit Requirement: Two of at least $500 within 90 days
Other Requirements: Enroll for an O2 Debit Card and O2 Online Banking, $5K balance in savings
Monthly Fee: $3.95 (waived with eStatements)
Closing Account Fee: $25 if closed within 90 days
Expiration Date: ~~12/31/20~~ 6/30/21 12/31/21