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$100 Checking Account Bonus with no DD Requirements at LaSalle Bank

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LaSalle Bank is offering a $100 bonus for opening its checking and savings account. It requires the following:
  • Open a checking account with a minimum of $250
  • Open a statement savings account with a minimum of $100
  • Sign up for a LaSalle Money Card debit card
  • Make a purchase with your Money Card within 60 days of account opening

After these requirements are met, bonus will be credited to the savings account within 120 days from the date of account opening. Bonus is limited to one per household, and may be considered income to you for tax purposes.

The best checking account for this deal is the Convenience Checking. It has the lowest minimum balance requirement ($250) to avoid a monthly fee ($5/mo). For those who don't mind direct deposit, the Direct Plus Checking has no minimum balance requirements or monthly fees as long as you have direct deposit, and it defines direct deposit as a recurring deposit so it may not only include paychecks.

The Statement Savings Account also has monthly fee ($6/mo) unless you maintain a $250 balance. However, the last sentence in the bonus disclosure states "monthly fee for falling below the minimum balance requirement on a Statement Savings Account will be waived for the first six months from the date of account opening."

The offer page states you can apply online, at a LaSalle branch or by phone. I'm not sure if it's available for all states. LaSalle is now part of Bank of America. According to Bank of America, one of the immediate benefits is that you can now use BofA ATMs with no fees.

LaSalle also has a decent CD special with a 5.15% APY 5-month CD. The minimum deposit is $10,000. Update 2/5/08: This CD special has ended.

Credit for this find goes to FW member desidealmaster who posted it on this FW thread.

  Tags: Illinois, CD rates, checking account

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Comments
2 Comments.
Comment #1 by Anonymous posted on
Anonymous
Do business with Lasalle Bank at your own risk!
Online access is insanely quirky and tempermental.
Customer service is often uninformed and misleading, and at best is waiting for Bank Of America to step in and clean things up.
Applied for $50 bonus checking, and then that was replaced by $100 checking & statement savings promo for which I also applied.
Never intended to do both, but was told by customer service that as long as I met the terms it was ok.
All accounts opened and funded by credit card without problem.
A month later (11/21/07), without any warning, got letter from a Lasalle Bank "Relationship Banker" Lynn C. Calvin, stating that the bank had determined it was "...not in our best interest to continue our banking relationship."
I was given an ultimatum to remove my funds by 11/26/07 or a check for the balance would be issued & mailed out to me.
This is outrageous, unacceptable and unprecedented behaviour by a financial institution and should be investigated for misconduct.
AGAIN, BUYER BEWARE!

1
Comment #2 by jts (anonymous) posted on
jts
What is required to activate the debit card for use to qualify for the $100 bonus? Thx

1