Deal has ended, view more bank account bonuses by clicking here.
Update 4/17/21: Deal is back and valid until May 31, 2021. Hat tip to reader Carl J
Offer at a glance
- Maximum bonus amount:Â $250
- Availability:Â IN, WI, IL only
- Direct deposit required:Â Yes, $500+
- Additional requirements:Â None
- Hard/soft pull:Â Soft pull
- ChexSystems: Unknown (sensitive)
- Credit card funding:Â None
- Monthly fees:Â None
- Early account termination fee:Â Six months, $25
- Household limit:Â None listed
- Expiration date:Â
February 28, 2021May 31, 2021
Contents
The Offer
- CIBM Bank (also known as marine bank) is offering a bonus of $250 when you open a new checking account and complete the following requirements:
- Enter promo code IHSPRING2021Â during account opening
- Receive a direct deposit of $500+ (during June)
The Fine Print
- Promo code OAQTR12021 must be used at account opening.
- Limited to one offer per customer for new checking accounts opened online between 1/11/2021 and 2/28/2021.
- Offer not available for existing CIBM Bank personal checking account holders.
- To qualify for the cash bonus the customer must complete the ClickSWITCH process of direct deposit initiation to CIBM Bank during account enrollment.
- An email regarding successful account activation will be sent from CIBM Bank.
- Cash bonus will be paid within seven days from that date.
- Minimum opening deposit of $100 required.
- Accounts closed within 6 months of opening date, subject to a $25.00 early closing fee.
- Cash bonus considered interest/income and reportable on IRS Form 1099-INT or 1099- MISC.
- We reserve the right to amend or cancel any part of this offer at any time.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
Accounts closed within 6 months of opening date are subject to a $25.00 closing fee
Our Verdict
Last time this was offered it was $200, but we’ve seen the $250 bonus in the past as well. Definitely worth doing when it’s at this $250 level and we will be adding this to our best bank account bonuses. Can be done online this time as well, making it even better.
Hat tip to Burnout1749
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Did anyone get a 1099 from these guys?
dangit i don’t think i checked the estatements requirement
edit: oh nvm that was just for the tiered rate… well still waiting on the bonus, DD hit on 6/30
it didn’t look like discover or schwab brokerage counted for p2.
$500 from real dd posted on 6/30/21, bonus paid on 7/29/21
anyone get a clawback if they didnt get a DD in june?
If you missed out on this opportunity- don’t feel bad. This bank and website is a nightmare (IMO) to deal with. So much so, that I went through the trouble of getting the account and moving my money in and then actually stopped working towards the bonus for my mental sanity. The website is a complete nightmare- I still haven’t figured out how to do a transfer from the site- and there are massive hold ups on the initial paperwork, setting up online banking, really everything. I’ve never had an experience with a bank that was this un-user friendly and frankly felt so jank. For example- Your online login username is a random number you have to dig through your emails to find constantly. Nothing at this bank seems simple. I’m moving my initial $100 out and I will never be going into this account again. “¯\_(ツ)_/¯“
anyone get their bonus yet?
Yes, I got paid $250 today – Referral Credit SPRING 2021 PROMO
Just got mine today. A datapoint for everyone: I did not use clickSwitch. The rep told me I wouldn’t have to either and still receive my bonus
Dan, when were your deposits? Still waiting on my bonus.
Still waiting buy my DD didn’t hit till 6/30
Full terms:
Bonus of $250.00 limited to one per customer for new checking account opened between 4/1/21 and 5/31/21. Offer not available for existing CIBM Bank personal checking account holders or those who have closed a CIBM Bank personal checking account within the past 6 months. Promo code IHSPRING2021 must be used at time of account opening. To qualify for the bonus, the new account must receive direct deposit(s) of at least $500.00 from qualifying source(s) during June 2021. Qualifying direct deposits are electronic deposits of your paycheck, pension, or government benefits (such as Social Security) from your employer or the government. Bonus will be paid to the account in July 2021. Account must be open and have a balance greater than zero when the bonus is paid. Minimum opening deposit of $100.00 required. Accounts closed within 6 months of opening date, subject to a $25.00 early closing fee per closed account. Cash bonus considered interest/income and reportable on IRS Form 1099-INT or 1099-MISC. †Acceleration Checking: *Annual Percentage Yield (APY) accurate as of 4/1/21. Checking account balances of $0.00-$10,000.00 (1.00% APY); $10,000.01 and above (.05% APY). If qualifications are not met, all funds in checking account earn .01% APY. Variable rate accounts and interest rates are subject to change. Fees may reduce earnings. Limit one Acceleration Checking account per primary social security number. Customer must initiate set up of e-statements through online banking, establish a monthly direct deposit and perform 12 debit card purchases each month to qualify and receive tiered rates and ATM surcharge refunds up to $12.00. Transactions may take one or more business days from the date transaction was made to post and clear the account.
https://web.archive.org/web/20210531185802/https://www.cibmbank.com/checkingofferspring2021.html
Anyone know where to get Routing number for this? Trying to set up direct deposit. I got the account number, but can’t see the routing number on the interface.
I had to message them.
Can you share the routing #?
Messaged them and rec’d this:
Hello there,
The routing number for CIBM Bank is 071122933. Have a great weekend!
Cool thanks.
And for others looking, the account # is the number seen in the docusign document, not the online ID they email you.
LOL. Do not do this, honestly. This bank is a shit show- it isn’t worth it. I wish I had taken the other comments more to heart because now I don’t want to deal with this.
I have to keep reaching out to them because the features (logging in/setting up ClickSwitch, etc etc) keep not working right. The online banking platform is also very low quality and confusingly setup, in my opinion. I wish I hadn’t started this process and I won’t be keeping any money in here a day longer than I have to.
How long do you have to wait before creating an online banking account after e-signing the docusign disclosures?
It took almost a week
Yep just got mine
Denied due to Chex 16/12