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[IL, IN] Peoples Bank (ibankpeoples) $400 Checking Bonus

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Update 10/4/25: Deal is back for $400. Hat tip to reader Bockrr

Offer at a glance

  • Maximum bonus amount: $220
  • Availability: IL, IN
  • Direct deposit required: Yes, $1,000
  • Additional requirements: None
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None
  • Expiration date: None listed

The Offer

Direct link to offer

  • Peoples Bank is offering a bonus of $400 when you open a new checking account and complete the following requirements:
    • Enroll in eStatements
    • Set up direct deposit
    • Receive direct deposit(s) totaling $1,000 or more within 90 days of account opening

The Fine Print

  • $220 promotional offer is for opening a Peoples Bank checking account with a direct deposit made within 90 days of account opening.
  • Please allow 60 days from the date the first direct deposit is received for bonus to be credited to account by next statement cycle.
  • Bonuses are for new checking account customers and limited to one account per customer.
  • In accordance with applicable regulations bonus payouts may be 1099 reportable.
  • Account must be in good standing and have a positive balance at the time the bonus is paid.
  • The minimum balance to open a You First Checking or eChecking account is $50.
  • The minimum balance to open a Senior Plus Checking account is $100.
  • This is a limited time offer and subject to change without notice.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Your First checking has no monthly fees to worry about

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any early account termination fee or not

Our Verdict

There are so many different Peoples Bank it’s crazy, we will call this one Peoples Bank (ibankpeoples IL, IN). This might be worth doing, but we need to know if there is hard pull or not. If anybody goes for this bonus please share your experiences in the comments below.

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William Charles

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