Snag Up to $600 from Associated Bank – Here's How It Works

If you're in the Midwest and looking for a nice chunk of change just for switching banks, Associated Bank is running a pretty solid deal. You can earn up to $600 by opening a new personal checking account and meeting a few requirements. The best part? They've extended the offer through September 30, 2024, so you've got some time to plan.

How the Bonus Tiers Work

This isn't a one-size-fits-all bonus. The amount you get depends on how much money you keep in your accounts during the first few months. Specifically, they look at the average daily balance across all your Associated Bank deposit accounts (checking, savings, money market, IRA, CDs) from day 31 to day 90 after opening.

Here's the breakdown: If your total average daily balance lands between $1,000 and $4,999.99, you'll get $300. Bump that up to $5,000–$9,999.99, and it becomes $400. And if you can keep $10,000 or more in the bank, you walk away with the full $600.

• You don't have to keep all the money in the checking account – balances from other linked deposit accounts count too.
• Business accounts, HSAs, and investment accounts don't factor in.
• Accounts must have the same primary owner to be combined.

What You Need to Do to Qualify

First, open a new personal checking account online or in a branch. The minimum opening deposit is $25 for Associated Access Checking or $100 for Balanced or Choice Checking. Then, within 90 days, you need to have at least $500 in direct deposits from an employer or government agency hit that account. Transfers from other accounts you own or person-to-person payments like Venmo won't count.

Once you've met the direct deposit requirement and your average daily balance hits one of the tiers above, the bonus will be deposited into your account within 120 days. Just make sure you don't close the account within 12 months, or they'll take the bonus back.

A Few Things to Watch Out For

Before you jump in, there are some important fine-print details. You can't have received a checking bonus from Associated Bank in the last 24 months, and you can't have had an Associated Bank checking account at all in the last 12 months. Also, this offer is limited to one per customer and can't be combined with other promotions.

Also, the bonus is considered taxable income, so expect a 1099 form from the bank come tax season. And if you're opening online, you must be a resident of one of the nine eligible states: Iowa, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Ohio, or Wisconsin.

Bottom Line

• Earn $300–$600 based on your average daily balance across all deposit accounts.
• Direct deposit of $500+ from employer or government required within 90 days.
• Bonus credited within 120 days; account must stay open 12 months to keep it.
• Offer ends September 30, 2024 – only available in 9 Midwest states.

Common Questions