[IL, In Branch Only] Republic Bank $150 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update: Only for military veterans and service members. There is also a $150 checking bonus that isn’t for military vets.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: In branch only, all branches are in IL [Branch locations]
  • Direct deposit required: Yes, no minimum mentioned
  • Additional requirements: Maintain a balance of $2,500 for three consecutive months
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer (savings) | checking

  • Republic Bank is offering a $250 savings bonus when you complete the following requirements:
    • Maintain a minimum balance of $2500 for three consecutive months
  • Republic Bank is offering a $150 checking bonus when you complete the following requirements
    • Complete a direct deposit (no minimum mentioned)

The Fine Print

Savings bonus:

  • Our procedure requires the customer to call or visit a banking center to talk with a personal banker/manager to obtain bonus.
  • This is a one time bonus, limited to one person per household.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Checking bonus:

  • Checking offer is not available to existing Republic Bank of Chicago checking customers.
  • To receive the $150 checking bonus customers must complete the following requirements: open any new Republic Bank of Chicago personal checking account (subject to approval), deposit the minimum balance to open the account type, and setup and complete a direct deposit to the checking account within 60 days of account opening.
  • The direct deposit must be an electronic deposit of your paycheck, pension, and/or government benefits (such as Social Security) from your employer or the government.
  • Thirty business days after completing all of the above requirements, Republic Bank of Chicago will deposit the $150 bonus into your new checking account.
  • Bonuses are considered interest and will be reported to the IRS. If the checking account is closed within six months after opening, Republic Bank of Chicago will deduct the bonus amount from the account balance before account closing.
  • Bonus offer limited to one (1) offer per customer regardless of the number of accounts opened.
  • Other activity restrictions and fees may apply.
  • Ask a banker to see our Fee Schedule and Terms and Conditions. Offer expires December 31, 2021.

Avoiding Fees

Monthly Fees

Account has no monthly fees to worry about

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF or not.

Our Verdict

Should be able to ask if it’s a hard or soft pull when you sign up in branch.

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View Comments (14)

  • Applied from OOS, was denied due to Chex. I had previously started an application but didn't finish; a CSR rep reached out and asked whether I was still interested. She said that OOS was fine. After I was denied, I asked what in my Chex report caused them to decline. She said they don't like to see more than 5 inquiries in 90 days. YMMV

    • Interesting - when I applied last year they said they don't accept OOS applications. Also, thanks for the Chex info. I have a lot of recent inquiries so I'll hold of for now.

  • Capital One works for DD:

    08/15: Opened Checking with non-veteran link (in Illinois, unsure of my Chex)
    09/01: ACH $100 from Capital One savings
    09/08: ACH $100 from Capital One savings
    09/13: $150 bonus

  • I used the chat feature on their website to ask about the veteran Freedom Banking program and the rep said that it was a program from 2013 that they no longer offer.

    8 years seems like a long time to keep a page online for something that's no longer available?? I might call a branch to confirm.

    • Called their customer support number today and the rep I spoke with said that they no longer offer the bonus for the Freedom Banking accounts. I think I'll try opening online for the $150 offer instead.

  • @will

    They also have a $150 checking bonus thru December 31: https://republicebank.com/vhpromo/
    Note that they do not accept OOS applications - I tried to apply online and it looked like it went through, but I never received my account information so I followed up and was informed that they only accept applications from IL residents.

  • It looks like the current promotion is only for military/veterans:
    "We are proud to offer a program designed specifically for military veterans and service members.
    ....
    Bring documentation supporting your status as a veteran or service member"