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Anyone tried this before.

You may find this promotion on mb financial bank's home page
link

In the News and Updates section.

Direct link on the promotion

Member Summary
Most Recent Posts
Change my direct deposit from $50 to $300. 2 days later a $50 bonus was posted to my account without me even calling an... (more)

egron (Oct. 04, 2008 @ 10:41a) |

Awesome tip...I did the same thing -- no call to the bank, $103 / paycheck going in, and got my first deposit on 10/2. ... (more)

nameo951 (Oct. 04, 2008 @ 2:52p) |

Bad news, guys....



Thank you for your inquiry. The window to receive credit for a direct deposit has ended. The bonus che... (more)

nameo951 (Nov. 07, 2008 @ 5:05p) |

Terms:
Limit of one $200 promotional payment per household. We will credit one $50 promotional payment each calendar month, up to a maximum credit per account of $200 over the first four months the account is open. $200 will be paid only for monthly recurring direct deposits. Promotion credits are subject to 1099 reporting. Minimum balance to open Free Checking is $50. Debit Card available to qualified account holders. Other restrictions and account fees may apply. Personal accounts only. Offer available only to new checking customers to MB Financial Bank. This offer is good as of the ad publication date, and is subject to change.
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IS this chicago only?

Let me expand on RedCelicaGT's questions:

Q1. Can account opening be done online, or must be done in person at a branch?

A1. Don't know yet.

Q2. Where are the branches location?

A2. Most of the branches are located in the Chicagoland area, but I found a branch in Philly:

http://www.mbfinancial.com/AboutMBFinancialBank/BankingLocations/Philadelphia/tabid/287/Default.aspx

RedCelicaGT said: IS this chicago only?Who knows, app submitted, should find out soon. Also, app required 2 IDs - I put my DL in for both, we'll see what happens.

And $200 bonus is paid out in $50/month increments, when you have a recurring direct deposit each month.

RedCelicaGT said: IS this chicago only?

Yes.
Right on the home page it says that it's open to Chicago area residents only.

I wonder if a recurring transfer from an online savings account would work for direct deposit.

The fine print also says that "other restrictions and account fees may apply". Not sure what other fees could apply since it says no monthly fees and no minimum balance. Looks like $50 to open is all that is needed. Might be worth it to open an account with $50 and let it sit for 4 months to get the full $200 - but only if I can use online transfers to count for direct deposit.

On this page it says:
http://www.mbfinancial.com/Personal/Checking/tabid/62/Default.aspx

Transfer a direct deposit or direct payment to an MB checking account today and we’ll add $25 to it.

I wonder if that and the $200 offer stacks.

RedCelicaGT said: IS this chicago only?
From Home Page:
Open an MB Free Checking account and receive $200! (Offer available to Chicago area residents only.)...

Trinidon2k said: ...
or direct payment to an MB checking account today and we’ll add $25 to it...

That answers two questions for me:

1. Direct payment (I read ACH/ING/PayPal works)
2. At least you would get $25 for opening an account with $50. Pretty good return, definitely on par with other offers.

fungo45 said: RedCelicaGT said: IS this chicago only?

Yes.
Right on the home page it says that it's open to Chicago area residents only.
That changed this afternoon.

When I clicked on that same link earlier today around 2:30 EST, the announcement had a different date (I believe it was dated 2/22) and there was definately no mention of being restricted.

Glitch99 said: fungo45 said: RedCelicaGT said: IS this chicago only?

Yes.
Right on the home page it says that it's open to Chicago area residents only.
That changed this afternoon.

When I clicked on that same link earlier today around 2:30 EST, the announcement had a different date (I believe it was dated 2/22) and there was definately no mention of being restricted.

Maybe they were overwhelmed by the Bankdeals/FW effect and decided to restrict the offer.

uutxs said: Glitch99 said: That changed this afternoon.

When I clicked on that same link earlier today around 2:30 EST, the announcement had a different date (I believe it was dated 2/22) and there was definately no mention of being restricted.

Maybe they were overwhelmed by the Bankdeals/FW effect and decided to restrict the offer.
I guess now I wait and hope they honor my pre-restriction application, a la the Beneficial Savings offer last winter.

Please change title to reflect Chicago-ONLY deal...

Thanks for the heads up - will drop by a branch Wed/Thurs before they decide to pull the offer lol

Will use Citi's transfer service for DD

Terms:
Limit of one $200 promotional payment per household. We will credit one $50 promotional payment each calendar month, up to a maximum credit per account of $200 over the first four months the account is open. $200 will be paid only for monthly recurring direct deposits. Promotion credits are subject to 1099 reporting. Minimum balance to open Free Checking is $50. Debit Card available to qualified account holders. Other restrictions and account fees may apply. Personal accounts only. Offer available only to new checking customers to MB Financial Bank. This offer is good as of the ad publication date, and is subject to change.

matthewbleffler said: Trinidon2k said: ...
or direct payment to an MB checking account today and we’ll add $25 to it...

That answers two questions for me:

1. Direct payment (I read ACH/ING/PayPal works)
2. At least you would get $25 for opening an account with $50. Pretty good return, definitely on par with other offers.


So any amount of $ by ACH from any banks for 4 months should qualify for $200 with $50 each month?

Just opened one today - painless experience

The rep was aware of the promo which is nice since there were no signs posted up at the branch. He told me that I just needed $50 min to open and they'll deposit $50/month for 4 months of DD (will test PayPal to see if that works or not, if it doesnt then I'll use Citibank's transfer service). Also needed 2 forms of ID - gave him my license and school ID

Fee Schedule shows:
Account closed within 90 days $20.00 - since it takes 4 months to get the max bonus, we can close right away after the 4th bonus posts

You also have to wait a few days until they setup your online account (I gave him my email and he said that they'll email me with my temp username and password when its ready)

Can anyone still find this one their webpage? I finally have the time to go to a branch tomorrow, but there aren't any particularly near me so I'd like to avoid a wasted trip if they pulled the offer quietly.

I called them about a week ago since it was not posted on the website and they said the promotion was still valid. So I opened an account via phone.

Does anyone have a scan of this promotion since it is not on their website?

shedantlers said: I called them about a week ago since it was not posted on the website and they said the promotion was still valid. So I opened an account via phone.
Do you live in the Chicago area?

I went to a branch in Chicago today and was told that this promotion ended on March 17th. They said they still had a normal deal where you get free checking and can get up to $100 back ($25 each month), but the $200 promotion ended on St. Patrick's Day.

Has anybody acctually received their first $50 bonus? If so...what did you use for DD requirement? i used etrade, and it hasn't showed up for my first statement yet.

MBF generated the first statement early for me (opened on 3/6, but statement ended around March 21-23) - this statement only had PayPal on it. I sent a Citibank transfer but it posted around the 24th so I dont know if that'll trigger the bonus or not.

I didnt want to risk the other $150 so I'm having my school split my DD with MBF & Chase so it'll show up as a payroll transaction but it'll take a couple weeks for them to process it

i hven't received my bonus yet either. didn't get a payroll DD in before 1st statement cutoff though. Perhaps I'll have one in a few days as i've had payroll going into the checking twice this month.

Beware! I opened an account in March and started $50 payroll direct deposits. A week after the first deposit I called the bank to find out when the $50 bonuses would start and was told it would be in about a week. After a second deposit and another week later I checked again and was told my deposits were not "significant enough." They did not mention any minimum deposit amounts when I opened the account nor is there any documentation stating that. Seems like a bit of false advertising that I am following up on.

egron said: Beware! I opened an account in March and started $50 payroll direct deposits. A week after the first deposit I called the bank to find out when the $50 bonuses would start and was told it would be in about a week. After a second deposit and another week later I checked again and was told my deposits were not "significant enough." They did not mention any minimum deposit amounts when I opened the account nor is there any documentation stating that. Seems like a bit of false advertising that I am following up on.
I specifically asked this question via email prior to opening an acct, and they wrote back, "You only need to deposit $50 to open the account, there is no minimum deposit from your employer to receive the promotion." I haven't received my DD bonus either. I will wait until my first statement showing the DD closes and then start asking questions.

Has anybody received their bonus yet? I got that same idiotic line about not having a significant enough deposit. Ridiculous! What if I only make $50 a month? They didn't mention any kind of minimum deposit to me either. <Virtual annoyed grunt>

nameo951 said: Has anybody received their bonus yet? I got that same idiotic line about not having a significant enough deposit. Ridiculous! What if I only make $50 a month? They didn't mention any kind of minimum deposit to me either. <Virtual annoyed grunt>

I've received nothing yet either. I haven't called, but assume I'd get the same reply since I've only been transferring $25/month from an online savings account. I'll be pretty pissed too since there was no mention of a minimum.

Since it's basically false advertising, I filed a complaint with the Illinois Attorney General. They replied that they notified MB and I should hear something back from MB or MB may respond to the Attorney General who with let me know something. Over a week now with nothing from anybody but I will follow up soon.

Same here, still no bonus

If you guys are filing complaints then please post the info here so the rest of us can do the same thing (a dozen or two complaints are better than just a couple)

MB's reply back to the Attorney General said that their ad stated "other restrictions and fees may apply" and that one of the restrictions was that a recurring deposit, such as a paycheck, was needed to get the $200 bonus, not a nominal deposit such as mine. I replied back that I did not receive documentation of that restriction, however, I did receive documentation for the fees that may apply. We'll see what happens next.

egron said: MB's reply back to the Attorney General said that their ad stated "other restrictions and fees may apply" and that one of the restrictions was that a recurring deposit, such as a paycheck, was needed to get the $200 bonus, not a nominal deposit such as mine. I replied back that I did not receive documentation of that restriction, however, I did receive documentation for the fees that may apply. We'll see what happens next.
As I said above, I specifically asked this question via email prior to opening an acct, and they wrote back, "You only need to deposit $50 to open the account, there is no minimum deposit from your employer to receive the promotion." If you PM me your email address, I can forward you the email.

similar scenario. I was told at the Lombard branch that terms and conditions had changed. I asked for a copy of these changes and was told they couldn't find them. I asked when I could get a copy of the new terms and I was told by the end of next week. I went home and called customer service and they told me the direct deposit had to be at least $100.

The next week I talked to Justin Murphy, the Lombard Branch Manager. He was not very helpful but I asked him if he could at least email me the terms and conditions that showed why my $10/week direct deposit didnot qualify. His email contains the following paragraph "I have attached the advertisement of the Bonus Checking account. As you can see on the advertisement we state that the offer is subject to change. This statement was put in the advertisement to avoid paying money to people that have no intention of being a customer of MB Financial". It seems to me that they think they can just pick and choose who gets the money and who doesn't. I'm no expert but is seems like fraud to me.

Anyone who needs a copy of his email can pm me and I'll forward it.

I suggest others on this forum also submit a consumer complaint form to the Illinois Attorney General so that office is aware that many consumers have been mislead. Maybe then some pressure will be on MB Financial. The link to the complaint form is:

http://www.illinoisattorneygeneral.gov/consumers/conscomp.pdf

I sent one to the FTC, and I'm about to send something in to the problem solver at the Tribune. It's a really cut-and-dry case IMO. Any attorney who couldn't prove false advertising would have to be extraordinarily incompetent.

This is a little snippet from my complaint to the BBB (who, by the way, now has an unsatisfactory rating for MB Bank):

More importantly, Mr. Bandriwski's statement that the Bank made proper disclosures runs wholly contrary to the FTC's guidelines regarding use of the word "Free" (http://ftc.gov/bcp/guides/free.htm). These guidelines state, in part that "When making "Free" or similar offers all the terms, conditions and obligations upon which receipt and retention of the "Free" item are contingent should be set forth clearly and conspicuously at the outset of the offer so as to leave no reasonable probability that the terms of the offer might be misunderstood. Stated differently, all of the terms, conditions and obligations should appear in close conjunction with the offer of "Free" merchandise or service.

wow..are you an attorney? there's a lot of legal mumble jumble i don't understand...anyways..good job!

Not an attorney...I just read too much of their work.

I guess the way the FTC process works is sort of similar to the way the Attorney General works...basically if enough people complain, they assign somebody to investigate the case. So go to the FTC's website and complain too!

FTC Bureau of Consumer Protection

Thanks for the tip regarding the FTC and BBB. I filed complaints with each and hopefully everyone else will so that we can get MB to admit they fouled up the offer and give us the bonus money we deserve.

Just called today. At first, the CSR told me that I was out of luck because it wasn't a real direct deposit, but just a transfer from an online savings account. I told them that I asked the banker if that was acceptable when I opened the account, and she said it was. They then transferred me to the bank itself.
The banker I talked with said the issue was not the transfer, but that it didn't meet the $100 minimum they required. I pointed out that the documentation didn't state that. She said that if I increased my deposits to $100 going forward, they would honor the the $50/month for the next 4 months. Good enough for me.
I'll report back if this actually works. Even though the news was positive today, I'm not holding my breath.

I was doing some research on this today (slow here at work). It turns out that false advertising is overseen by the IL Divison of Banking, which has its own complaint form. This is in Section 205 of the IL Compiled Statues, section 11011. It reads:

(a) No savings bank shall issue, publish, or cause or permit to be issued or published any advertisement that, in part or taken as a whole, is in any way false or misleading.
(b) The Commissioner may require any savings bank to file a true copy of the text of any advertisement in the office of the Commissioner within 2 days after the issuance, circulation, or publication of the advertisement. All of the powers granted under this Article shall be available to the Commissioner with respect to a savings bank's violation of this Section.


What are the powers granted under this article? Section 11001.1: Make restitution or provide reimbursement

I'm filing a complaint this week if anybody cares to join me.

Skipping 4 Messages...
Bad news, guys....



Thank you for your inquiry. The window to receive credit for a direct deposit has ended. The bonus checking promotion gave the customer 7 months to set up and receive credit for a direct deposit. If you have your direct deposit was not set up until the end of the promotion then you will only get credit for the dposits that posted during the time of the promotion. If you have any additional questions, please feel free to contact us via this inquiry function or call the Telephone Banking Center at 888-422-6562.



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