[Expired] [IL only] Byline Bank $200 Checking Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $200
• Availability: In branch only [Branch locations]. Branches are all in Illinois
• Direct deposit required: Yes, $500+ at least for three consecutive statement cycles
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: $25, six months
• Household limit: None listed
• Expiration date: December 31st, 2018

The Offer

Direct link to offer

• Byline Bank is offering a bonus of $200 when you open a new checking account with them and complete the following requirements:
  • Open a new account with at least $2,500
  • Maintain a balance of at least $2,500 for three consecutive statement cycles
  • Receive equal to or greater than $500 in qualifying direct deposits for three consecutive statement cycles within 180 days from account opening
  • Make 24 debit card transactions each statement credit for each of the first three full statement cycles
  • Enroll to receive eStatements within the first three statement cycles

The Fine Print

• Offer valid until December 31, 2018.
• Byline Bank reserves the right to change or terminate this offer at any time.
• Limit one per customer, cannot be combined with other offers. Social Security Number or ITIN required.
• Bonus will be deposited into your new open account within 30 days of account qualification.
• Customers who have or had a personal checking account with Byline in the past 12 months, Byline employees, and accounts set up with Fiduciary relationships are ineligible.
• Bonus may be 1099 tax reportable.
• Requirements to receive the $200 Bonus: 1. Open a new eligible Byline Bank personal checking account* with $2500, and 2. maintain an average monthly balance of $2500 for three consecutive statement cycles beginning at account opening, and 3. Receive equal to or greater than $500 in qualifying direct deposits** for three consecutive statement cycles within 180 days from account opening, and 4. Make 24 debit card transactions per statement cycle,*** and 5. Enroll to receive e-statements within the first three statement cycles.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The Freedom checking account is the easiest to keep fee free as there is no monthly fee to worry about. There is an early account termination fee of $25 if the account is closed within six months according to the fee schedule.

Our Verdict

Need to know a lot more about this bank, but that’s a lot of requirements for a bonus of only $200. For most people I don’t think it’s worth doing as there are so many easier and better bonuses available. If anybody does go for it, let us know if it’s a soft or hard pull and your other experiences with opening an account.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

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