[Expired] [WI & MN only] Bank Mutual $200 In Branch Checking Bonus – Direct Deposit Optional

This one has expired early. You can view the best current checking bonuses here.

Offer at a glance

• Maximum bonus amount: $200
• Availability: WI & MN only [Location finder]
• Direct deposit required: Optional, $500+ per month
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: $2.95-$5.95 (avoidable)
• Early account termination fee: Bonus clawed back if closed within six months
• Household limit: One
• Expiration date: July 15th, 2017

The Offer

Direct link to offer

• Open a new Bank Mutual checking account and get a bonus of $200 when you any TWO of the following requirements within 60 days of account opening:

  • Set up recurring direct deposits totaling $500 or more per month.

  • Complete at least 20 debit card transactions

  • Set up online bill pay and pay 5 or more bills

 

The Fine Print

• This offer applies to personal checking accounts opened at select Bank Mutual locations.

• Offer available to new checking customers only. Accounts may not be opened with money currently on deposit with Bank Mutual.

• Minimum balance to open a personal checking account is $100.

• Maximum $200 bonus per household.

• After the qualifying activities are complete, bonus will be credited and considered earned approximately 90 days after account opening.

• Bonus will be credited and considered earned on IRS Form 1099-INT.

• The Annual Percentage Yield (APY) on Elite and Select Checking is .01% and is accurate as of 5/1/17.

• Fees could reduce earnings on these accounts.

• Other rules and restrictions may apply.

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

Avoiding Fees

The easiest way to keep an account for this promotion fee free is by opening the essential checking account. This account has a $4.95 fee that is waived if you do any of the following:

• Having an external direct deposit or

• Being a current student and 25 years old or younger or

• Making at least 10 signature-based Debit MasterCard® transactions in the month.

Keep in mind you need to keep these accounts open for 6 months to avoid any early account termination fee.

Our Verdict

$200 is as high as it gets for BankMutual checking although they previously offered a bonus of $200 for checking + $50 for money market. Given that there is no direct deposit requirement I will be adding this to our list of the best checking account bonuses.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

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• 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
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