Update 3/19/22: Deal is back and valid until May 31, 2022. Hat tip to reader Addison K
Offer at a glance
- Maximum bonus amount: $300
- Availability: In branch only, all branches are in WI [Branch locator]
- Direct deposit required: Yes, no minimum specified
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $20
- Household limit: Possibly one
- Expiration date:
April 30th, 2019October 31st, 2019 May 31, 2022
The Offer
- Open a new Monona Bank True Choices checking bonus and complete the following requirements to receive a $300 bonus:
- Open at least one additional deposit product like savings or money market account
- Move your payroll or monthly social security direct deposit to your new account
The Fine Print
- Your $300 bonus will be deposited into your new non-interest bearing account within 90 days after you complete the three easy steps above.
- We really want to be your new bank, so while we truly value our current clients, this special offer is only available to households that have not received a similar bonus in the past and don’t currently have a checking account with us.
- Offer expires on April 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
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a full fee schedule so I’m unsure if there are any early account termination fees.
Our Verdict
Nice big bonus with no monthly fees to worry about. Downside is account needs to be opened in branch, given that it’s a soft pull to open this account we will be adding this to our list of the best checking bonuses. Might also be able to open a 4% APY CD up to $10,000 at the same time.
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
Post history:
Update 3/17/20: Deal is back and valid until April 30th, 2020. Not sure I’d recommend going in branch at this stage. Hat tip to reader Ethan
Update 9/8/19: Deal is back and valid until October 30th, 2019. Don’t have a direct link to the new offer, but available in branch. I believe the requirements are the same.
