[IA, IL, IN, KY, MN, WI, TN & MI] Old National Bank $250/$450 Checking Bonus

Update 11/4/24: Extended to 1/31/2025

Update 9/11/24: Everyday account works for $450 bonus, making it better.

Update 7/28/24: Extended until 10/31/2024

Update 6/16/24: Extended until 7/31/2024.

Update 1/16/24: Deal is back for 1/16 – 5/31 (ht Churnbaby)

Update 11/1/23: extended until 11/30/2023

Update 9/6/23: Deal has been extended until  10/31/2023. $300 checking bonus is now $250.

Update 6/24/23: Extended until 7/31/23.

Update 6/1/23: Extended until June 30.

Update 4/3/23: Now available in IA & IL now.

Update 3/29/23: Extended until Extended to 4/30.

Offer at a glance

• Maximum bonus amount: $300 or $450
• Availability: IN, KY, MN & MI
• Direct deposit required: Yes, $3,000 or $10,000
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: Up to $500, can fund with American Express, Visa & Mastercard
• Monthly fees: $6.95-$15, avoidable
• Early account termination fee: $25, 180 days
• Household limit: None mentioned
• Expiration date: February 28, 2023 March 31st, 2023

The Offer

Direct link to offer

• Old National Bank is offering a $450 and $300 checking bonus. Bonuses are as follows:
  • $450 bonus when you open a new ONB Preferred checking account and complete the following requirements within 90 days of account opening:
    • Make 2 or more ACH direct deposits totaling $10,000 or more
    • Enroll and log in to online or mobile banking
  • $250 bonus when you open an ONB Everyday checking account and complete the following requirements within 90 days of account opening:
    • Make 2 or more ACH direct deposits totaling $3,000 or more
    • Enroll and log in to online or mobile banking

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

ONB Everyday ($300 Bonus)

ONB Everyday, this has a $6.95 monthly fee that is waived if you do any of the following:

• Have a total of $500 in direct deposits each month
• Maintain a minimum daily balance of $750
• Maintain a combined balance of $1,500 in checking, savings or money market accounts
• Are an active member of the US Military

ONB Preferred ($450 Bonus)

This account has a $15 monthly fee. This is waived if you do any of the following:

• Maintain a $5,000 daily balance OR
• Maintain a $25,000 combined minimum daily balance in other checking, savings, money market accounts, CDs, or loans with similar ownership

Early Account Termination Fee

Account needs to be kept open for 120 days.

Our Verdict

Previously best offer was a $200 bonus. Bit annoying to keep the $450 bonus account keep fee free, but worst case scenario you can just do the $300 bonus instead. We will add this to our list of the best bank account bonuses.

Hat tip to reader Igor

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?
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• Bank Bonus Posting Times