[IL, WI only] Byline Bank $450 Checking Bonus

Note: This is listed as YMMV as the terms mention a mailer twice. Doesn’t say you need the mailer but it’s very possible this is targeted towards people/addresses that received the mailer so YMMV if it actually pays out if you didn’t receive one. 

Offer at a glance

• Maximum bonus amount: $450
• Availability: IL, WI only
• Direct deposit required: Yes, $1,000 per month for two months 
• Additional requirements: See below 
• Hard/soft pull: Soft pull
• ChexSystems: Yes
• Credit card funding: Unknown
• Monthly fees: $5, avoidable 
• Early account termination fee: $25, six months
• Household limit: None listed
• Expiration date: 3/31/26

The Offer

Direct link to offer

• Byline Bank is offering a $450 bonus when you open a new checking account and complete the following requirements: 
  • Use promo code SIMPLE450
  • Make at least $1,000 in qualified direct deposits during two consecutive months

The Fine Print

• To take advantage of the new Simple Checking account cash bonus offer, you must open your account between December 31, 2025 and March 31, 2026, and use the promo code SIMPLE450.
• Only one promo code is accepted per customer.
• You may open your account at a Byline branch or online.
• You are eligible for the offer when you complete the bonus requirements for two consecutive statement cycles (tracking begins on your second statement cycle). 
• To apply online for a Simple Checking account visit www.bylinebank.com/simple450, select “Open Online” and enter the promo code SIMPLE450 in the field at the end of the application process labeled ‘Promo Code’.
• You can find the promo code on the mailer you received. 
• To apply at a branch for a Simple Checking account, find a branch near you at www.bylinebank.com/locations, and bring the promo code found in the mailer. 
  • To receive the Simple Checking cash bonus of up to $450:1. Open a new Simple Checking account with a minimum of $100 online or in branch using the promo code, and

    2. Make a cumulative total of at least $1,000 in qualifying direct deposits during two separate, consecutive statement cycles (bonus tracking begins at the start of the second statement cycle)

    3. If the cumulative total of at least $1,000 in qualifying direct deposits is met, a cash bonus increment of $225 will be paid on the last day of each statement cycle for a total cash bonus amount of $450.

     

• The Simple Checking cash bonus offer is limited to one per customer.
• Cash bonus may be reported to the IRS for tax purposes, and you are responsible for reporting to the IRS for tax purposes and any applicable taxes.
• Offer can be changed or canceled without notice at any time and cannot be combined with any other offer. If your balance is zero, we may close your account.
• If your account is in default or closed before you receive the bonus, you will not receive the bonus.
• Qualifying direct deposits include all ACH credit transactions. Common ACH direct deposit types are employers sending payroll to employees, government agencies distributing benefits, and tax refunds. We reserve the right to request documentation that the direct deposits qualify. Non-qualifying examples include: teller deposits, wire transfers, ATM transfers or deposits, deposits processed as debit card credit, transfers from any bank or brokerage account, and Account to Account or Peer to Peer (i.e. Zelle®, Venmo) transfers
• Day 1 of the 2-month consecutive statement cycle period starts on the second statement cycle, which begins the bonus tracking period. If you open your account on a day other than a Business Day, Day 1 is the next Business Day. Cash bonus increment of $225 is paid into the checking account on the last day of the statement cycle. You must meet the direct deposit criteria each month to qualify for the cash bonus (i.e. if you meet the criteria in month one, but not month two, you will receive the cash bonus for month one only). It can take up to 100 days for the entire possible bonus amount of $450 to be paid.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

There is a $5 monthly fee if one of these requirements are not met:

• the average account balance is $500 or more or
• the combined account balance in your personal deposit accounts, where you are the primary owner, is $10,000 or more.

Early Account Termination Fee

There is an early account termination fee of $25 if the account is closed within six months according to the fee schedule.

Our Verdict

Significantly better than the previous $150 + $150 bonus. Unfortunately it has the mailer language otherwise we would add it to the best bank bonus page. 

Hat tip to reader snailrock

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