[Expired] [MN, In Branch only] Bank of Elk River $100 Checking Bonus

Deal has expired, view more bank bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $100
• Availability: In branch only, all branches are in MN [Branch locator]
• Direct deposit required: Yes, $500+
• Additional requirements: 10 debit card transactions, eStatements
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: One
• Expiration date: August 30th, 2019

The Offer

Direct link to offer

• The Bank of Elk River is offering a bonus of $100 when you open a new personal checking account and complete the following requirements by September 30th, 2019:
  • Sign up for eStatements
  • Make 10 or more debit card purchases
  • Set up a direct deposit of at least $500

The Fine Print

• Offer is available to customers who do not have an existing or prior consumer checking account at The Bank of Elk River.
• To qualify for the $100 bonus, you must open a new consumer The Bank of Elk River checking account with a minimum opening deposit of $100 (not including the $100 bonus) by August 30, 2019.
• In addition, you must sign up for eStatements, make 10 or more debit card purchases, and set up a direct deposit of $500 or more made into the account by September 30, 2019.
• Limit one $100 bonus per household.
• The $100 bonus is available with all Bank of Elk River consumer checking accounts, including non-interest-earning checking accounts and will be deposited on or before October 15, 2019 upon meeting requirements.
• Offer is subject to qualification and customer will receive a 1099 form for cash bonus at year-end.
• Offer valid through August 30, 2019.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

They offer a freedom checking account with no monthly fees.

Early Account Termination Fee

I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee.

Our Verdict

Not a massive deal, but might be worth doing if you live near a branch. Still need to know if it’s a hard or soft pull to open though.

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