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$200 Reward Checking Account Bonus at Standard Bank in IL & IN - Local Only


Standard Bank and Trust Co.

Standard Bank and Trust Co. is offering up to a $200 bonus for opening a checking account which can include its high-yield reward checking account. The promo is shown on their home page, and in the bank's promotions page as of 6/23/2010. According to the small print, the offer is good through 7/31/2010. Here are the requirements:

  • Receive $100 when 2 direct deposits (ACH credits) are received within 90 days of account opening and verification of a minimum of $300 per two consecutive statements cycle is met
  • Receive $100 within 90 days of account opening and verification of ten signature based (non-PIN) transactions have been made using your Standard Bank Debit MasterCard

Here are a few important things to note in the small print:

  • Offer applies only to new customers residing in Illinois and Indiana
  • Offer is only available online
  • One offer per household
  • Cash bonuses may be considered interest and may be subject to 1099 reporting

The bank's reward checking account, My Green Checking, is one of the qualifying checking accounts. I did a My Green Checking review last August. The rate has stayed the same, but it was never high at 2.25% APY. On the plus side this applies to balances up to $50K rather than the more typical $25K.

Credit for this bonus find goes to markber at this iBankDesign thread.

The bank's ratings for safety and soundness are fair: 3 stars (adequate) at BauerFinancial, 3 stars (performing) at and an overall health score of 4 out of 5 at (see our Standard Bank and Trust Co. rates and reviews page). These ratings are based on 3/31/10 data except for Bankrate which is based on 12/31/09 data. Standard Bank and Trust Co. has been a FDIC member since 1947 (FDIC Certificate # 16606).

  Tags: Indiana, Standard Bank and Trust Co., Illinois, checking account, reward checking account

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Comment #1 by ctgottapee (anonymous) posted on
one item missed in this post is that there is a $20 fee for closing a checking account within 6 months, buried in the fine print

Comment #2 by Anonymous posted on
Standard Bank and Trust hasn't paid the $100 bonus promised to me one month ago, and it is advertising almost the very same bonus and terms today: the bank is defrauding current and prospective customers.