Offer at a glance
- Maximum bonus amount:Â $150
- Availability:Â IL
- Direct deposit required:Â Yes, no minimum mentioned
- Additional requirements:Â None
- Hard/soft pull:Â Unknown
- ChexSystems:Â Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â One
- Expiration date:Â None listed
Contents
The Offer
- Republic Bank is offering a $150 checking bonus when you complete the following requirements
- Complete a direct deposit (no minimum mentioned)
The Fine Print
- Offer of $150 bonus is not available to existing Republic Bank of Chicago checking clients.
- Setup and complete a direct deposit to the checking account within 60 days of account opening to receive the $150 bonus.
- The $150 bonus will be deposited to your checking account 30 business days after adding direct deposit.
- The $150 is considered interest and may be reportable for tax purposes.
- If account is closed within 6 months of opening, bonus will be deducted before account closing.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Account has no monthly fees to worry about
Early Account Termination Fee
Bonus is forfeit if closed within six months of account opening
Our Verdict
Previous there was also a $250 savings bonus as well. Need to know if it’s a hard or soft pull.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Got the bonus with an Ohio address. $100 direct deposit from employer – tax return direct deposit did not credit.
Applied 15 Mar, submitted ID, denied 16 Mar due to info obtained for Chex. IL ID and address. No adverse action in my report, so likely just sensitive.
I opened my account on 11/23/2022 and finally got my bonus on 3/5/2023
If anyone is looking…. I attempted to apply OOS due to them offering a nationwide savings account. Was denied due to Chex… Likely sensitive. Also, there is no credit card funding.
I’m OOS, but I opened their Money Market earlier in the year. Added the checking without a hitch even though I’m pretty close to LOL accounts for the year.
Any CC funding available?
Minimum opening balance requirement is $25. This account receives eStatements only. Monthly maintenance fee of $25 waived with 15 debit card transactions per month. Interest rate and Annual Percentage Yield (APY) may change without notice. Interest is compounded and credited monthly. If your account is closed before interest is credited, you will not receive accrued interest. If your daily balance is $0 to $15,000, the interest rate paid on this portion of the balance in your account will be 1.98%. The APY on this tier will be 2.00%. An interest rate of 0.00% will be paid on the portion of your balance that is greater than $15,000. The APY for this tier will be 0.00%. Fees may reduce earnings
Good catch. Fine print mentions waiveable Monthly Maintenance Fee depending if you choose Cash Back or higher APR. SOZ’s comment is if you choose a higher APR. If you choose Cash Back, then the fine print is:
Monthly maintenance fee of $5 waived with 15 debit card transactions per month. Debit Card Cash Back is limited to $25 per month or $300 per year. Only PIN, chip, or signature-based transactions qualify. Fees may reduce earnings.
Does anyone know what counts as a signature-based transaction? I feel like PIN or chip are obviously at a grocery store/gas pump whatever. But does anyone know of any online methods to meet the requirement? Such as micro-payments on a utility bill?