Sorry folks, this offer has expired. View more bank sign up promos here.
Offer at a glance
- Maximum bonus amount: $150
- Availability: WI & MN only [Location finder]
- Direct deposit required: Yes, $1,000 per month. Looks like only a real employer DD will trigger the bonus, paypal + Ally ACH did not work.
- Additional requirements: Six bills paid online, 15 debit card purchase
- Hard/soft pull: Soft
- Credit card funding: Unsure
- Monthly fees: $2.95-$5.95 (avoidable)
- Early account termination fee: $150 if closed within six months
- Expiration date: June 28th, 2014
Contents
The Offer
- Receive a $150 bonus from BankMutual when you complete the following requirements
- Open a Checking by You or The Works account
- Add a direct deposit
- Pay six bills online
- Make 15 debit card purchases
The Fine Print
- All requirements must be done within 60 days of account opening
- Offer valid from May 5th to June 28th, 2014
- Bonus only available to new checking customers only
- Direct deposit must be $1,000 or more and recurring monthly
- Minimum opening deposit of $100
- Bonus will be added to you account on the 120th day after account opening if all requirements are met
- $150 fee will be charged if the account is closed within six months
- Limit of one bonus per household
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The Works $5.95 Monthly Fee
It’s not possible to waive the monthly fee on the “The Works” account.
Checking By Your $2 Monthly Fee
There is a $2 monthly fee, this can be waived if you opt for e-Statements and receive direct deposits of $1,000 or more per month
Early Account Termination Fee – $150
If you cancel your account within six months, Bank Mutual will take back the $150 bonus on offer.
Our Verdict
Bank Mutual also has a competition where you can win up to $3,000 by using their Bill Pay feature.
Unfortunately it looks like you’ll need to change your real employer payment rather than using a work around, you’d also need to keep this activated to avoid the $2 monthly fee (remembering this account needs to be opened for six months). You also need to apply for an account at a Bank Mutual location, which can only be found in Wisconsin (there is one location in Minnesota).
A $150 bonus is one of the higher ones on offer, I’d personally only bother with this bonus if I was near to a participating location and could easily change my employers direct deposit. If you don’t live in WI/MN, you have plenty of other options. Â Click here to find more offers for WI/MN and other state specific offers.
Direct link to offer | Screenshot of offer
Hat tip to Maximizing Money
