Offer at a glance
- Maximum bonus amount: $200
- Availability: IL, Dixon North
- Direct deposit required: Yes, two direct deposits
- Additional requirements: Use promo code
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Can fund up to $1,000 with a credit card
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: December 31, 2021
The Offer
- Sauk Valley Bank is offering a bonus of $200 when you open a new personal checking account and complete the following requirements:
- Opening a new account with $500 by 12/31/2021 AND
- Set up & Receive 2 qualifying direct deposits within 60 days of opening
The Fine Print
- This offer is limited to new Sauk Valley Bank personal checking account customers only. Account must be opened by 12/31/2021. Use offer code DN200M21 when opening your new account to enroll in this offer.
- Open a new checking account with a minimum deposit amount of $500, set up and receive (2) qualifying direct deposits within (60) days of opening your account. A qualifying direct deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits which are made by your employer or other payer – using account and routing numbers that you provide to them.
- After all requirements are met, earned bonus will be directly deposited into your new personal checking account within (60) days. The new personal checking account must be open, in good standing up to and including the date any earned bonus is paid in order to receive bonus.
- The value of this offer may constitute taxable income to you. Offer does not apply to second or multiple personal checking accounts. You are not eligible for this offer if you were/are an owner or co-owner of any Sauk Valley Bank personal checking account within the last twelve (12) months. Offer expires December 31, 2021, however Sauk Valley Bank may change or discontinue this offer at any time before this date without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
Wasn’t able to find a fee schedule so unsure if there is any closing fee.
Our Verdict
Seems to be a small bank and only supposed to be for this specific branch. Actual offer is OK, but requiring two direct deposits is a bit annoying. Won’t add this to the best bank account bonuses until we know more.
Hat tip to Carl J
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
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- Introduction To ChexSystems
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- 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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