Update 6/1/24: Deal is back, at the moment only a working link for Wintrust has been found. Hat tip to jacob
Update 9/29/23: Deal is back
Update 1/12/23: Extended through march 31, 2023
Update 5/29/22: Bonus is now $500. Hat tip to Burnout1749
Update 2/17/22: Deal is back and valid until December 31, 2022 Christopher Robin
Update 8/23/21: Available in FL as well. Hat tip to Snowbird
Offer at a glance
Maximum bonus amount: $500
Availability: IL, WI & FL [Branch locator]
Direct deposit required: No
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: $15, avoidable
Early account termination fee:
Household limit: None listed
Expiration date: June 30th, 2019 December 31, 2020 December 31, 2021 December 31, 2022
The Offer
Direct link to offer | St. Charles Bank (IL) or Town Bank (WI) or Lake Forest Bank (FL)
Receive a sign up bonus of $500 when you open a new Entrepreneur checking account and complete the following requirements:
Deposit and maintain $5,000 or more in new money
Complete 10 qualifying transactions
Enroll in online banking and activate eStatements
The Fine Print
This Entrepreneur Checking account bonus offer is not available to existing or closed checking account customers of Wintrust Financial Corporation (WTFC) and its subsidiaries or its active employees.
Limit 1 bonus payment per customer, regardless of the number of accounts opened.
If you qualify for this Entrepreneur Checking account bonus offer, you are ineligible to receive this Entrepreneur Checking account bonus offer from any other WTFC location.
If you qualify for any other WTFC savings offer it may be combined with this Entrepreneur Checking account bonus offer.
Your new account must be open, in the same product, and have a balance greater than zero to receive the bonus payment.
If you are a sole proprietorship or a single member LLC, the $300.00 bonus payment is subject to IRS 1099-INT reporting and may be considered income for tax purposes for the tax year in which the bonus was paid.
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 a $15 monthly fee, this is waived if you have an average daily balance of $5,000
Early Account Termination Fee
I wasn’t able to find a full fee schedule so I’m unsure if there is any early account termination fee or not.
Our Verdict
Looks like a relatively easy bonus to meet the requirements for. Assuming it’s a soft pull like the other WinTrust bank brands I do think this is worth doing if you live near a branch. I’ll likely add this to our list of the best checking account bonuses once we’ve confirm it’s a soft pull to open the account.
Hat tip to reader Matthew R
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