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$50 Checking Account Bonus at LaSalle Bank

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LaSalle Bank is offering a $50 bonus for opening a checking account with either free Online Bill Pay or direct deposit. Here's the promotional link. You can apply online, by branch or by phone. Some important disclosure information includes: The minimum balance to open a checking account to earn the $50 cash bonus is $250. Bonus issued at account opening and is for NEW consumer checking accounts only. It may considered income to you for tax purposes.

LaSalle Bank's Direct Plus Checking has no minimum balance requirements and no monthly fees, but it requires direct deposit or other recurring deposit to avoid a $5/month fee. LaSalle's Convenience Checking has a $250 balance requirement to avoid a $5/month fee. There are no direct deposit requirements.

LaSalle Bank is the largest bank headquartered in Chicago with $75.1 billion in assets. LaSalle Bank maintains 137 branches in the Chicago area. It is FDIC insured (FDIC Certificate # 15407).
  Tags: Illinois, checking account

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Comments
9 comments.
Comment #1 by Anonymous posted on
Anonymous
Thanks Banking Guy for letting us know about this easy $50! I've earned hundreds of extra dollars in the past six months thanks to you! I just went through the open account process online. It's a bit sloppy, and they don't take ACH deposits, so I chose to mail in my initial deposit. There was nothing on the application where you specify how much you intend to send in - all they do is come up with a screen saying to please mail your deposit to the following address. Hmm, do I just include a letter that says here is my deposit for a pending online application? I will wait for the new account package to arrive in my mailbox before I do this so I can be sure I have a proper account setup first. I spoke with a CSR who said that I have 30 days to get this to them. This one will probably require some follow up calls, but they seem nice. Let's see - if I give them $250 and pay some bills online, they'll give me $50. If I keep this for a year, that's a 20% return on my investment. Who needs stocks?

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Please keep us updated on how it goes. Hopefully, the bonus will be credited as stated.

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Comment #3 by Anonymous posted on
Anonymous
Lasalle Bank is being bought out by BoA. I wonder how existing Lasalle accounts will be handled.

1
Comment #4 by Anonymous posted on
Anonymous
Lasalle Bank is being bought out by Bank of America. I wonder how current Lasalle accounts will be affected.

1
Comment #5 by Banking Guy (anonymous) posted on
Banking Guy
I would think the account transitions should be smooth. Just watch out for BofA fees.

One interesting note on this acquisition that I saw in this Rueters article is that this "transaction would give Bank of America control of about 10 percent of U.S. deposits, the maximum allowed under federal limits."

So I guess BofA doesn't have any incentives to offer attractive deposit rates.

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Comment #6 by Anonymous posted on
Anonymous
I'm still waiting for my $50 bonus. I opened the account on July 11th - my post about this is the first one above. Today is July 25th. I spoke with a CSR this morning who said that I should see it in 7 - 10 business days. This may be one of those accounts that I close as soon (IF) I get the $50 promo.

1
Comment #7 by Anonymous posted on
Anonymous
is there any early closure fee for closing this account after getting bonus? I can't find their fee schedule online. Thanks.

1
Comment #8 by Anonymous posted on
Anonymous
They take Discover to initially fund, so that might be an easy $10 cashback too. No info on whether or not the funding is coded as a purchase or a cash advance.

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Comment #9 by Anonymous posted on
Anonymous
Avoid Lasalle Bank.
A month after this checking was opened and funded without incident,
a "Relationship Banker" Lynn C. Calvin, sent me a letter (11/21/07) saying my account was to be closed on 11/26/07.
I was given no warning or explanation other than a vague and mysterious
"In Lasalle's determination, it is not in our best interest to continue our banking relationship."
Furthermore, I was given an ultimatum to remove all available funds or be issued a check by mail.
This is outrageous and unprecented treatment of a good customer (with an impeccable credit history) by a finacial instution, and should be investigated.

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