Update 12/22/23: Extended until March 31, 2024.
Update 8/3/23: Extended until December 31, 2023.
Update 7/13/23: This is now a $600 checking bonus.
Update 4/30/23: New link. Valid until July 31, 2023
Update 2/13/23: Deal is back and valid until Apr. 30th, 2023. Hat tip to reader Ethan
Update 11/13/22: Deal is back, now with a $200 savings bonus. Hat tip to das1996
Update 3/3/22: This is available in more states now, terms now state ‘IA, IL, IN, KS, MI, MN, MO, OH and WI.’ Hat tip to reader Michelle B
Update 11/3/21: Deal is back, but sadly only $400 instead of $500. In addition the terms state you can’t have received a bonus in the last 24 months or had a checking account in the last 12 months.
Offer at a glance
Maximum bonus amount: $600
Availability: IL, IN, MN & WI only
Direct deposit required: Yes, $500+
Additional requirements: See below
Hard/soft pull: Soft
ChexSystems: Yes
Credit card funding: Up to $1,200, no American Express cards.
Monthly fees: None
Early account termination fee: Bonus forfeit if closed within 12 months
Household limit: None listed
Expiration date: May 31st, 2021 June 30, 2021 March 31, 2022 December 30, 2022
The Offer
Direct link to offer (must use promo code 1400 for both bonuses or use code 1300 for the $400 checking bonus)
Associated Bank is offering a bonus of up to $600 when you open a new checking account and complete the following requirements:
Receive recurring direct deposits totaling $500 or more within 90 days of account opening
Bonus you receive depends on your average daily balance (days 31-90):
Total average daily balances of $1,000-$4,999.99 will earn $300,
$5,000-$9,999.99 will earn $400,
over $10,000 will earn $600.
They are also offering a $200 savings bonus when you open a new account with a minimum of $25,000 remaining on deposit for 90 days
The Fine Print
Offer limited to a new personal Associated Bank checking account opened and funded through May 31, 2021.
Receive up to $500 bonus with required minimum opening deposit (Associated Access Checking: $25, Associated Balanced or Choice Checking: $100; deposits from existing accounts do not qualify) and direct deposits totaling $500 or more within 90 days of account opening.
Determining your bonus: 90 days (or the previous business day), after opening your checking account, we will calculate the sum of the average daily balance for all your open Associated Bank deposit accounts for days 31-90. Total average daily balances of $1,000-$4,999.99 will earn $200, $5,000-$9,999.99 will earn $300, over $10,000 will earn $500.
All personal Associated Bank checking, savings, money market, IRA and/or CD account balances are included in the calculation to determine your total average deposit balance. Accounts must be titled with the same primary account holder to qualify for the bonus. Deposit balances from business, HSA, investment, minor or private banking accounts are ineligible.
The bonus will be deposited into the new Associated Bank checking account within 120 days of account opening.
Account must be open at the time the bonus is paid and must remain open for a minimum of 12 months.
If the account is closed within 12 months, Associated Bank reserves the right to deduct the monetary bonus from the account prior to closing.
Offer limited to one per customer and cannot be combined with other offers.
Offer limited to one per customer and cannot be combined with other offers. New customers opening online are limited to IA, IL, IN, KS, MI, MN, MO, OH and WI. Offer not available for customers who have received a new personal checking account monetary bonus within the last 24 months and have or have had an Associated Bank checking account within the last 12 months.
Associated Bank colleagues are not eligible.
Primary owner on the account must be 18 years or older to qualify.
Person to Person payments and transfers from external accounts do not qualify for the required direct deposit transactions to receive the monetary bonus.
For tax reporting purposes, the bonus will be reported to the IRS on Form 1099-INT.
The offer is subject to change, at Associated Bank’s discretion, at any time without notice and other exclusions may apply.
Avoiding Fees
Monthly Fees
Associated access checking account has no monthly fees to worry about. You do need to opt into eStatements otherwise you’ll be charged $4.
Early Account Termination Fee
There is no early account termination fee, but the account needs to be open for 12 months or the bonus is forfeit.
$50 Referral Bonus
You can also refer friends if you visit here. Previously you’ve been able to get referred and also get the bonus, it looks like that will stack as well because the brewers referlive page specifically mentions the $500 bonus. In addition person signing up for the account can get a Christian Yelich bobblehead (these are going for $20-$50 on eBay, but I imagine price will come down). Please do not ask for or share your referrals in the comments. Instead you can use this dedicated page.
Our Verdict
We’ve seen previous bonuses of $175 + $100 and $400. This new offer is for more money and you don’t need to open a savings account (but you do need a high average daily balance for 30 days, but still less than the previous $400 offer). The other offers had direct deposit optional though. I still think this is the best offer by far and will be adding it to the best bank bonus page.
Hat tip to reader Arthur D
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