Offer Details
Written by: RJ
Requirements
- Open a new checking account – $450.
- Complete two or more ACH direct deposits totaling $10k within 90 days of opening.
- Setup online banking.
- Open a new checking account – $250.
- Complete two or more ACH direct deposits totaling $2k within 90 days of opening.
- Setup online banking.
Eligibility
- IA, IL, IN, KY, MI, MN
- Can’t have had an account within the last 90 days
Fees
- ONB Preferred checking – $15 monthly fee is avoidable with one of the following:
- $5k minimum balance
- $25k combined balance
- ONB Everyday checking – $6.95 monthly fee is avoidable with one of the following:
- $500 monthly direct deposit
- $750 minimum balance
- $15k combined balance
- Active-duty military
Account Closure
- Keep account open 120 days.
Valid through 10/31/24
Thoughts
Would be nice to know what’ll work for the direct deposit requirement. I say the $450 is worth going for. The downside is keeping it fee free during the time.
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Editorial Note:
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
Bonus Fulfilled! Here is my experience: I opened and funded the account for $500 with a cc on January 18. I didn’t meet the requirements until March 21st, where I transferred funds from my fidelity CMA account. I received the bonus on May 16th. It did take some time to fulfill, and I did receive 2 monthly service charges, but it was a great bonus for the amount and little bit of work. Pretty easy and great overall bonus!
I applied online and denied and told to go into a branch. I did that. Still denied. Why? too many “inquiries” on ChexSystems! I said so what? those are accounts not open, and someimes they appear twice. Bank person would not budge. I left.
The $450 bonus is now with the “easier to keep free” Everyday checking account. The monthly fee for the Everyday account is only $6.95. To avoid it you need a minimum daily balance of $750, or monthly direct deposit of $500.
It says in their T&C that they “may” charge an early termination fee if closed within 180 days. Don’t know how much the fee is, probably buried somewhere else under the fee schedule.
As far as what counts as a direct deposit, many users in the Doctor of Credit forum have said Fidelity works. Also mentioned were Schwab, Sofi Invest, Wise, Laurel Road, Wells Fargo, LMCU, & AFCU.
Any word on what works for a direct deposit?
Saw Doc comments that Fidelity CMA worked. Fidelity also brought back their CMA bonus so good timing.
They really suck about folks not being in a state that doesn’t have a branch. I went in to a branch when I was traveling for work to see if I could open an account and they told me no as they only pwant to open accounts for local folks.
Appreciate the data point. They opened and then closed my account a few years ago. I’ve also read they’re chex sensitive even in branch. Been thinking about giving it another go but seems like I too will be out, even in state.