Update 10/26/2011: The promotion has been extended to 12/31/2011.
Standard Bank and Trust Co. is again having a checking account promotion with a $200 bonus. This new promotion is scheduled to last until 12/31/2011. It's listed at this bank's promotion page as of 9/6/2011. To qualify for the bonus, you must open a new e-checking or my green checking and meet the following requirements within 90 days of account opening:
- Payroll direct deposit of at least $300 for two consecutive months
- 12 signature-based (non-PIN) debit card purchases with each purchase value of at least $10
The details from the promotion's disclosure are included below:
Offer good 04/8/2011 thru 12/31/2011 and may be cancelled at any time without notice. This offer is for NEW CUSTOMERS RESIDING IN ILLINOIS AND INDIANA ONLY. Cash bonus of $200.00 will be credited directly to customer’s Standard Bank checking account within 90 days of verification of a minimum of $300.00 in payroll direct deposit credits per statement cycle for two consecutive statement cycles and verification that customer completed twelve signature-based (non-PIN) transactions over $10.00 each using their Standard Bank Debit MasterCard®. The recurring direct deposits must be made by an employer or an outside agency. Credit card cash advance transfers, transfers from one account to another or deposits made at a branch or ATM do not qualify. In the event that we determine through our sole discretion that your account does not meet the eligibility criteria or the activity on your account does not qualify according to the restrictions above, we will not be obligated to credit your account with the payout. Minimum opening deposit for checking accounts is $100.00. Fees, minimum balance requirements and other charges may apply. This offer may not be used in combination with any other offer. One offer per household. Offer good on new my green checking and e-checking accounts only. Cash bonuses may be considered interest and may be subject to 1099 reporting.
Credit for this latest find goes to FW member Kaparosky who posted it in this FW thread. Note, some people have reported problems in receiving the bonus last year. Make sure you save a snapshot of the promotion terms and follow up with the bank if you don't receive the bonus within the time specified.
My Greeen Checking
Standard Bank made the requirements a little more difficult than last year, but unlike many checking account promotions, these checking accounts may be one you'll want to keep. The My Green Checking is a reward checking account with a 2.25% APY for balances up to $25,000 (as of 9/6/2011). I first reviewed this reward checking account in August 2009, and the 2.25% APY has held during that time. However, the balance cap and the second tier rate have fallen.
As mentioned in the promotion terms, the offer is only for residents of Illinois and Indiana. This is also the case if you just want to open the my green checking or e-checking accounts.
Standard Bank Overview
Standard Bank branches are located throughout Chicagoland and Northwest Indiana.
The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 27.59% (average) based on June 2011 data. Please refer to our financial overview of Standard Bank and Trust Co. for the full details. It has been a FDIC member since 1947 (FDIC Certificate # 16606).
Other Bank and Credit Union Bonuses
We have a new bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.