DOC Compass — Offers, decoded

Extended to 12/31/2026

Update 10/12/25: Extended to 3/31/2026

Update 7/31/24: extended until 12/31/2024

Update 3/27/24: Extended until 7/31/24

Update 1/14/24: Extended until March 31, 2024

Update 7/4/23: Extended until December 31, 2023.

Offer at a glance

Maximum bonus amount: $200
Availability:Must be a resident of Illinois
Direct deposit required: Yes, complete 2 or more direct deposits totaling $500 or more
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: None
Monthly fees: $3.95, waivable
Early account termination fee: $25, 90 days
Household limit: One
Expiration date: Offer expires 6/30/2023

The Offer

Direct link to offer

Old Second Bank is offering a $300 checking bonus when you open a new checking account and complete the following requirements:
- Get $50 when you – Open a new checking account online with promo code EM2 (or open in-branch and mention this ad), get a debit card, and enroll in eStatements.
- Get $100 when you meet the previous requirement and – Complete 2 or more direct deposits totaling $500 or more
- Get another $150 when you meet the requirements for the first $50 bonus, and – Open a Money Builder Savings account with a $1,000 minimum deposit and uild your savings by depositing funds; if your deposited funds total $5,000 on the 90th calendar day

The Fine Print

An account is not eligible to receive a cash bonus under this offer if 1) the primary account holder currently has an existing personal checking account (Basic Checking, Convenience Checking, Interest Checking, Interest Plus Checking, Military Checking, Minimum Balance Checking, Premier Checking, O2 Checking, Premier Plus Checking, Convenience Plus Checking and Prime Time Checking (“existing personal checking account”) at Old Second National Bank, 2) has had an existing personal checking account open in the 12 months prior to the date of account opening, or 3) the primary account holder has received a personal checking account-related bonus in the twenty-four months prior to the date of account opening.
The bonuses described in this ad are limited per primary account holder, regardless of the number of accounts opened.
The new “personal checking account” (O2 Checking, Premier Plus Checking, Convenience Plus Checking, Military Checking, and Prime Time Checking) must be opened during the promotion period with the code and must have a positive balance on the 90th calendar day from the date the new personal checking account was opened in accordance with the bank’s procedures.
Offers are only available on personal checking accounts and the Money Builder Savings account; business accounts, trusts accounts with EINs, Health Savings Accounts, employee accounts and estate accounts are excluded from this offer.
To receive the first $50 cash bonus, 1) provide the offer code and open a new personal checking account, subject to approval, 2) apply for, be issued, and activate a debit card tied to the personal checking account within 90 calendar days of account opening and 3) enroll in e-Statements within 90 calendar days of account opening.
To receive $100 cash bonus, 1) you must first meet the requirements of the first $50 cash bonus and 2) receive two or more direct deposits totaling at least $500 in the personal checking account within 90 calendar days of account opening.
For purposes of this bonus offer, a direct deposit is defined as any payment made by a government agency, employer, or other third-party organization that is made via an electronic deposit. A direct deposit does not include teller, ATM, mobile, remote deposits, or transfers between accounts at Old Second National Bank.
To receive the second $150 cash bonus, 1) you must first meet the requirements of the first $50 cash bonus; 2) open a Money Builder Savings account, which requires a minimum opening deposit of $1,000; 3) build your savings by depositing funds; if your deposited funds total $5,000 on the 90th calendar day from the date you opened the personal checking account and your account has a positive balance, you will receive any cash bonuses for which you qualified by the 100th calendar day following the date you opened the personal checking account.
Offer expires 6/30/2023
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Money connection account has a $3.95 fee if you opt for paper statements, this is waived with paperless statements enabled.

Early Account Termination Fee

According to this comment there is an early account termination fee of $25 if closed within 90 days.

Our Verdict

Previously this was a $200 bonus, but without the savings requirements. This is an extra $100 but does require a deposit of $5,000. The savings requirement doesn’t seem to bad as you only need a $5,000 balance on the 90th day so no real deposit length requirement. We will add this to our list of the best bank account bonuses.

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