Update 6/29/24: Deal is back and valid until August 30, 2024. Hat tip to SecondMouse
Update 12/2/23: Deal is back and valid until 12/31/23. Looks like it can be opened online in all states except: CA, CO, KS, KY, LA, NJ, NY, OH, OR, PA, TX, FL.
Update 6/25/23: Deal is back and valid until 9/30/2023.
Update 12/16/22: Looks like it can be opened online in all states except: CA; KY; NJ; NY; OH; PA; TX. Hat tip to reader John
Offer at a glance
Maximum bonus amount: $250
Availability: IL, MO
Direct deposit required: Yes, $1,500+
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Yes, not sensitive
Credit card funding: None
Monthly fees: None
Early account termination fee: $40 if closed within six months
Household limit: None listed
Expiration date:January 31, 2023
The Offer
Midland States Bank is offering a bonus of $250 when you open a new checking account with promo code Check250. Bonus broken down as follows:
Have a direct deposit of $1,500 and receive a $150 bonus
Complete 20 debit card transactions and receive a $70 bonus
Sign up for eStatements and receive a $30 bonus
The Fine Print
In order to be eligible for this limited-time offer, you must be 18 years or older and apply online or in-person using the code: Check250.
Limit of 1 per person.
Checking offer is not available to existing personal checking account holders. New customers may earn up to $250 on personal checking accounts LivTM Simply, LivTM Rewarded, and LivTM Unlimited if the following qualifications are completed within 90 days of opening account: direct deposits via ACH totaling $1500 will receive $150, 20 debit posted card transactions within 90 days (excluding ATM transactions) will receive $70, and E-Statements enrollment receives $30.
Incentive is considered interest, producing a 1099-INT form.
If the account is closed by you or Midland States Bank within 180 days after opening, you will forfeit the offer and be subject to an account closing fee.
After you have completed the above requirements, the offer will be deposited into your new account within 30 business days.
Contact us for additional details.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Liv Simply account has no monthly fees to worry about.
Early Account Termination Fee
$40 if closed within six months
Our Verdict
Always nice to see a bonus with no monthly fees to worry about. We will add this to our list of the best bank account bonuses.
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