Associated Bank $500 Checking Bonus

Associated Bank is offering a $500 bonus for opening up a checking account! Simply open a checking account and make a direct deposit to receive your bonus.

Get someone to refer you and get an additional gift. More details below!

Associated Bank $500 Checking Bonus Overview

Associated Bank is offering a bonus of up to $500 when you open a new checking account and complete the following requirement:

  • Receive direct deposits totaling $500 or more into your new checking account, within 90 days of account opening
  • Grow your balance – and your bonus – by simply adding funds into your checking or other deposit accounts
  • Collect your bonus in 120 days
Associated Bank $500 checking bonus banner

The bonus amount will depend on your average daily balance in your account (calculated by averaging your balance between days 61-90 from account opening):

Average Daily BalanceBonus Amount
$1,000 – $4,999.99$200
$5,000 – $9,999.99$300
$10,000+$500

Where Do I Enroll?

Direct Link

Ninja Update 8/29/21: The $500 offer has expired – we’ll update this link as it should be back at some point.

Looking for other bank bonuses? See the list of the best bank bonuses currently available on this page.

You can apply online directly via the link above. For those who want to apply in person, the promotion site will also provide an option to schedule an appointment or send you a promo code so you can open an account at a branch near you.

Who Qualifies For The Bonus?

You must live in one of the following states:

  • Illinois (IL)
  • Indiana (IN)
  • Minnesota (MN)
  • Wisconsin (WI)

Along with residing in one of those states, you can’t be a current customer or had an Associated checking account in the last 6 months.

What Are The Details?

Availability: IL, IN, MN, WI
Expiration: 05/31/21
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: Yes, $500 or more (see what counts as a direct deposit)
Early Account Termination Fee: Bonus forfeited if account closed within 12 months

$500 Bonus Breakdown

To determine your bonus as mentioned in the beginning, 90 days after opening your checking account, Associated Bank will calculate the sum of the average daily balance for all your open Associated Bank deposit accounts for days 61-90. So if you have other accounts at Associated Bank, this should help you reach the highest bonus tier:

Average Daily BalanceBonus Amount
$1,000 – $4,999.99$200
$5,000 – $9,999.99$300
$10,000+$500
  • $200 Bonus: Receive a bonus of $200 when your total average daily balance is between $1,000 and $4,999.99
  • $300 Bonus: Receive a bonus of $300 when your total average daily balance is between $5,000 and $9,999.99
  • $500 Bonus: Receive a bonus of $300 when your total average daily balance is $10,000 or more

The bonus will be posted 120 days from account opening.

Avoiding Fees

The three different checking account options have a monthly fee between $0 and $25 that can be waived if you meet certain requirements. The bonus offer is the same across all the checking accounts; the difference is just the features that the account provides.

I recommend the Associated Access Checking so you don’t have to worry about monthly maintenance fees at all:

Associated Access Checking:

You’re free of monthly maintenance fees and account minimums!

Associated Balance Checking:

The $9 monthly fee can be waived if you:

  • Maintain a $1,000 minimum daily balance OR
  • Direct deposit or Associated SnapDeposit™ a total of $500 or more per statement cycle OR
  • Hold $2,500 in combined deposit accounts with same statement cycle date or the presence of either an HSA or investment account

Associated Choice Checking:

The $25 monthly fee can be waived if you:

  • Hold $10,000 in combined deposit accounts with same statement cycle or the presence of either an HSA or investment account
Associated Bank checking accounts comparison

Terms & Conditions

  • 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 61-90. 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 not available for customers who already have or have had an Associated Bank checking account within the last six 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 and APY are subject to change, at Associated Bank’s discretion, at any time without notice and other exclusions may apply.

The Bottom Line

Great bonus from Associated Bank.

There’s also a referral bonus that you can stack with this $500 offer. If you get an existing Associated Bank customer to refer you with their unique link, the person referring you will get a $50 bonus while you’ll get a Christian Yelich bobblehead. You can sell the bobblehead on eBay for another $30-$50.

It’s unfortunate that this offer is only available to residents of a few states. Hopefully they expand their footprint to other regions so we all can hop on this bank promo.

I’ll add this to the list of the best bank bonuses.

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