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: $250
- Availability: IN, WI, IL only
- Direct deposit required: Yes, $500+
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown (sensitive)
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Six months, $25
- Household limit: None listed
- Expiration date:
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 IHSPRING2021 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
