[Expired] [WI only] First Federal Bank of Wisconsin – $300 Checking Bonus

Update 11/05/18: Bonus has now expired, there is a $200 bonus but I’d just wait for the $300 bonus to return.

Update 10/15/18: Bonus is back until November 4th, 2018. Hat tip to Jeremy K. A few additional requirements are there as well.

Update 07/26/18: Bonus is back and valid until 9/9/18. Hat tip to reader Anna.

Offer at a glance

• Maximum bonus amount: $300
• Availability: Wisconsin residents only, must open in branch. [Branch locations]
• Direct deposit required: Yes, recurring direct deposit of $250+
• Additional requirements: 5 debit card transactions
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee:
• Household limit: One
• Expiration date: June 10th, 2018 September 9th, 2018 November 4th, 2018

The Offer

Direct link to offer

• First Federal Bank of Wisconsin is offering a $200 cash bonus when you open any checking account and complete the following requirements:
  • Have a recurring direct deposit of $250 or more within 90 days of account opening
  • Make 10 debit card transactions that post to the account within 90 days of account opening
  • Enroll in eStatements

 

The Fine Print

• Customer must have a recurring direct deposit credit of $250 or more from a valid employer payroll/pension or government entity and five (5) debit card transactions must post to the account within 90 days of opening account to be eligible for the $300 cash bonus.
• The cash bonus will be deposited into the checking account within 120 days of account opening.
• Account must remain open for 120 days to be eligible for cash bonus.
• If the account becomes overdrawn within the first 90 days, First Federal Bank of Wisconsin reserves the right to deny this incentive.
• Minimum opening balance of $50 for all checking accounts opened with this offer.
• Offer applies to new consumer checking accounts that must be opened with new money not currently on deposit at First Federal Bank of Wisconsin.
• One offer per household and available to State of Wisconsin residents only.
• Business or Consumers that have received a cash bonus offer in the last 24 months not eligible for this offer.
• First Federal Bank of Wisconsin employees and their immediate families are not eligible for this offer.
• Cash bonus will be reported as interest earned on IRS form 1099-INT and you are responsible for any applicable taxes.
• Flyer must be presented at account opening to receive the bonus.
• First Federal Bank reserves the right to deny this incentive at any time. Other restrictions may apply.
• . Offer expires June 10, 2018.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Their freedom checking account has no monthly fees to worry about. It doesn’t mention any early account termination fee, but account needs to be kept open for at least 120 days to get the bonus.

Our Verdict

Previous bonus was $200 and required bill payments instead of debit card transactions. Definitely think this $300 bonus is better than that $200 bonus, this offer is definitely worth doing considering it’s a soft pull to open. Because of that we will be adding it to our best checking bonus page.

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

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