The best bank bonuses are an easy way to some extra cash for relatively little work. For a limited time, Wisconsin-based Associated Bank is offering a bank bonus of up to $500 for opening a new checking account and meeting some additional criteria. Earning a bank bonus shouldn’t necessarily be the primary reason to open a new bank account, but it’s a nice way to add extra funds to your account.
Keep reading to learn more about Associated Bank, the ins and outs of its current bank bonus promotion and how to open a checking account.
Associated Bank Bonuses
Associated Bank is running a promotion right now that can earn you up to $500 if you meet the bonus requirements. To qualify for the bank bonus, you need to:
- Open an eligible new Associated Bank checking account
- Have direct deposits of $500 total or more within 90 days of account opening
The bonus amount is based on the sum of your average daily balance of all your Associated Bank deposit accounts. So, the more you deposit into your new checking account, the bigger the bonus you’ll earn.
Here’s a breakdown of what you can earn based on your average daily balance total:
|Average Daily Balance||Bonus Amount|
There are three checking accounts available to open as part of this bank promotion: Associate Access Checking, Associated Balanced Checking and Associated Choice Checking. Each account requires a minimum initial deposit. However, you must be living in Wisconsin, Illinois or Minnesota to open a checking account through Associated Bank.
To earn the Associated Bank bonus, you will need to open an eligible checking account and meet funding requirements by June 30, 2021. The earlier you sign up, the more time you’ll have to complete the offer requirements.
Eligible Associated Bank Checking Accounts
Associated Bank has three checking accounts eligible for its current bank bonus promotion. Here’s a breakdown of all three accounts.
Associated Access Checking
Associated Access Checking is a checkless checking account designed for individuals who prefer a digital banking experience. The account requires a $25 minimum deposit but has no ongoing balance requirements. It’s also Associated’s only checking account that doesn’t charge a monthly maintenance fee.
The account comes with a free Platinum debit card and access to 30,000+ fee-free Associated Bank and MoneyPass ATMs. Unfortunately, Associated Bank charges a $2.50 fee per withdrawal for out-of-network ATM use— on top of fees charged by the ATM owner. Access Checking account holders also have overdraft grace up to $5 before incurring any fees. You can also sign up for Associated’s optional overdraft protection transfer service, which moves money over from another Associated bank account to keep you from overdrafting.
Associated Balanced Checking
For a basic checking account with check-writing privileges, check out Associated Balanced Checking. Opening a Balanced Checking account requires a $100 initial deposit.
Balanced Checking accounts come with a $9 monthly maintenance fee which is waived by meeting one of the following requirements each month:
- Maintain a $1,000 minimum daily balance
- Have direct deposits or mobile deposits of $500 total or more
- Keep at least $2,500 combined in Associated deposit accounts or the presence of either an HSA or investment account
You can add personal checks to your Balanced Checking account for a fee. This Checking account also comes with a Platinum debit card, which features tap-to-pay technology and cash back perks on everyday card spending. Like Access Checking accounts, the bank charges a fee for out-of-network ATM use. Still, the bank provides an extensive ATM network to make it easier to avoid fees.
Associated Choice Checking
Associated Choice Checking is Associated Bank’s only interest-bearing checking account. The account requires a $100 initial deposit to open. It also charges a $25 monthly maintenance fee, which is waived if you keep $10,000 in combined deposit accounts each or there’s a presence of an HSA or investment account.
Along with the steeper fee comes access to more benefits like free personalized checks and free paper statements. Accountholders also get more access to funds when making deposits. You get access to up to $5,000 of your deposits on the same business day. Like the other checking accounts, this account comes with overdraft grace, but up to $50 instead of $5.
This particular checking account also handles ATM fees differently. Associated Bank doesn’t charge any out-of-network fees for Choice checking customers. The bank also waives two out-of-network fees charged by ATM owners, up to $20 each month.
Choice Checking accounts also come with a different debit card — The World Debit Mastercard. This particular debit card also earns cash back perks, but it also comes extras like:
- ID fraud expense reimbursement
- Cell phone protection
- Free wifi worldwide through over one million Boingo hot spots at places like airports, hotels and restaurants.
Who Is Eligible for Associated Bank Bonuses?
Like other bank bonus offers, you need to know some fine print details before you apply for a checking account.
As mentioned, the deadline for Associated Bank’s bonus offer is June 30, 2021. Your total average daily balance includes all personal Associated Bank checking, savings, money market, IRA and CD account balances. Only accounts where you are listed as the primary accountholder are counted towards the offer requirements. The calculation occurs after your first 90 days and is based on the average daily balance from days 61 to 90.
Associated Bank deposits the bank bonus is deposited into your checking account within 120 days of account opening. Your account must remain open for a minimum of 12 months, including at the time when the bonus is paid. If you choose to close your account before 12 months, Associated Bank may deduct the bonus amount from your account before it is closed.
Associated Bank’s bonus offer is limited to one per customer. The offer isn’t available if you’ve opened or had an Associated Bank checking account within the last six months.
Primary account holders must be at least 18 years of age to qualify for the bank bonus. Also, the bank is required to report your bonus to the IRS using Form 1099-INT.
You must be living in Wisconsin, Illinois or Minnesota to open a checking account through Associated Bank.
Other Associated Bank Accounts
Associated Bank also offers several complementary banking products to pair with its checking accounts. Here’s an overview of the other deposit accounts available through Associated Bank.
Associated Savings is a basic interest-bearing savings account. You’ll earn higher, preferred interest rates on any of Associated’s savings accounts when you pair it with one of the bank’s checking accounts.
The account requires a $25 minimum deposit and carries a $5 monthly fee, which is waived when you keep a daily balance of at least $300 or have recurring automatic deposits of $25 or more. The monthly fee is also waived for individuals under 18 years of age.
Associated Zero Interest Savings
Designed for savers who don’t care to earn interest, Zero Interest Savings accounts are great for reaching individual savings goals like a vacation fund or emergency fund. The account also requires a $25 deposit to open. There is a $5 monthly fee, which is waived for account holders under 18 years of age, with a $300 daily balance or $25 or more in recurring automatic deposits.
Associated Relationship Savings
Relationship Savings accounts feature one of the bank’s highest interest rates and are geared towards customers who plan to keep larger balances,. There is a $25,000 minimum deposit requirement if you want to earn the higher rate. You can waive the $20 monthly maintenance fee with a $10,000 minimum daily balance.
Money Market Account
Money market accounts combine the benefits of savings and checking in one bank account. Associated Bank’s money market account earns interest and comes with check-writing privileges and a free debit card. You need a $1,000 deposit to open a money market account. Keeping a $1,000 daily balance will waive the account’s $16 monthly fee.
Money market accounts are also eligible for preferred rates if paired with one of Associated’s checking accounts.
Certificates of Deposit (CDs)
Associated Bank offers two types of CD accounts — Regular term and Fixed-rate add-on CDs. Regular term CDs are available in 1o term lengths, ranging from three months to five years. The large selection of terms makes Associate Bank CDs a great option if you’re considering building a CD ladder. Opening a regular term CD requires a $1,000 minimum deposit.
Interest compounds and is credited quarterly, and account holders have the option to move their interest payment to another Associated account or receive a check as long as the CD balance is over $5,000. Regular term CDs carry early withdrawal penalties of up to 365 days interest if you decide to withdraw your funds before they reach maturity.
If you want to open a CD, but don’t want to tie up all of your funds, you can open a Fixed-rate add-on CD. This CD is only available in a 12-month term. Fixed-rate add-on CDs only require a $100 minimum deposit, but let you add funds of any amount at any time. Withdrawing funds before maturity is subject to an early withdrawal penalty of 181 days of simple interest.
Both CD types renew automatically at maturity. CD account holders have the option to withdraw their funds during the ten-day grace period following the maturity date.
Other Associated Banks Products and Services
As a full-service bank, Associated customers have access to a myriad of other beneficial products and services. Along with its bank accounts, Associated Bank carries the following accounts and services:
- Credit cards
- Retirement planning
- Investment management
- Health Savings Accounts (HSAs)
- Home mortgages
- Home construction loans
- Home refinance loans
- Home Equity Lines of Credit (HELOCs)
- Personal loans
- Debt consolidation loans
- Long term care planning
- Life insurance
Small business banking and commercial banking and wealth management solutions are also available through Associated.
Associated Bank Mobile Banking
While you have to live in a state with Associated Bank branches, that doesn’t mean you have to do your banking in person. Associated Bank has three (yes, three) mobile apps to allow you to manage your accounts on the go.
Associated Bank Mobile is the main mobile app for personal banking. Within the mobile app, Associated Bank customers can:
- Check account balances
- Transfer funds
- Deposit checks
- Pay bills
- Find bank branches and ATMs
The bank’s other mobile apps include HSA Plus and Wealth Access. All three mobile apps are available on iOS and Android.
What Is Associated Bank?
Associated Bank is a regional full-service bank with hundreds of locations spread across Illinois, Minnesota and Wisconsin. It also offers in-person commercial financial services through locations in Indiana, Michigan, Missouri, Ohio and Texas. Founded in 1970 from the merger of three Wisconsin-based banks, Associated Bank offers in-person, online and mobile banking solutions for its customers. The bank is known for its award-winning customer service and its wide range of banking products for almost every need.
Apply Today and Start Earning Your Associated Bank Bonus
Associated Bank is an excellent option if you live in one of the states where they have branches. Bank bonuses are a great way to earn some extra cash, especially if you’re in the market for a new checking account.
You can open an Associated Bank checking account online. From our link, you can also schedule an appointment to open an account at a local branch or over the phone if you choose. Be sure to request a promo code to take with you if you opt to open an account in person. A promo code is needed to be eligible to receive the bank bonus.
Associated Bank doesn’t perform a hard credit pull when you apply for an account. There is a soft credit pull, which doesn’t negatively affect your credit score. If you have a credit bureau freeze or fraud alert in place, though, you’ll want to remove it before you submit your application or it may be declined.