Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Nationwide
- Direct deposit required: No
- Additional requirements: Deposit $2,500+ and maintain balance for 30 days
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: March 31, 2022
- M1 Finance is offering a $100 checking bonus when you open a new m1 spend checking account and complete the following requirements:
- Deposit $2,500 within the first 14 days
- Maintain that balance for at least 30 days
The Fine Print
- Beginning on January 17, 2022 through March 31, 2022 (the “Promotion Period”), you will be eligible to earn this twenty-five dollar ($25) promotional offer if you meet all of the following during the Promotion Period: (i) you renew your M1 Plus membership for a full calendar year; (ii) you have auto renew
- To be eligible for this Promotion, and solely during the Promotion Period, you must (1) have successfully opened an M1 Spend checking account1; AND (2) have made an aggregate deposit of at least $2,500, within the first fourteen (14) days of M1 Spend checking account open date. If you satisfy the aforementioned conditions, M1 will make a one-time deposit of one hundred dollars ($100) into the cash balance of your M1 Spend checking account (the following accounts are ineligible to receive any direct cash deposit: accounts held by M1 Finance LLC).
- You are only eligible to receive a one-time cash bonus of one hundred dollars ($100) (the “Promotional Credit”) under this Promotion. The Promotional Credit will be deposited into your M1 Spend checking account on May 13, 2022 (the “Pay-out Date”) provided that you satisfy the conditions stated herein. The Promotional Credit deposited by M1 is a fixed cash value and does not constitute stock or any other security, nor is it a recommendation to buy any specific stock or other security. You must maintain a deposited value of at least two thousand five hundred dollars ($2,500) in your M1 Spend checking account for at least thirty (30) days from the date your deposited value is at least two thousand five hundred dollars ($2,500). M1 reserves the right to revoke the Promotional Credit cash deposit if the total aggregate transferred deposited value is not retained in your M1 Spend checking account until the Pay-out Date.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about.
Early Account Termination Fee
I’m unsure if there is any EATF.
I’m a little bit confused by the terms, as it talks about a $25 promotion that requires M1 Plus to receive (M1 Plus has a $129 annual fee). That seems to be a separate offer to the $100 checking bonus though. The $100 checking bonus itself is a great offer though as the requirements are easy to meet. I assume this is a soft pull but if somebody can confirm in the comments that would be fantastic.
M1 finance recently launched a $300 credit card bonus and also offers a $5,000 brokerage bonus.
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
Just got an email about “Your M1 Plus membership will automatically renew at $125 on February 20th.” and I don’t recall ever signing up for this… Downloaded their app and Apple said there’s saved password for it so I guess I did sign up but forgot about it. It ask me to verify email and fund account right after logging in, and I could not find any email in my inbox except the renewal email… Perhaps I was waiting for email and never got it back then? Also see “Verify your identity In order to open an account, we need to verify your identity. Enter a phone number to receive a confirmation code by text.” if I click on continue. Perhaps they send out the email by mistake and I never really opened an account with them…
Opened a ticket with them 4 days ago, no reply yet but looks like they closed my account as I cannot log in anymore.
Anyone else having trouble logging into their M1 account?
Nope. Just used android app.
I had a rather interesting experience with this offer. Long story short, my account was compromised about a month into having the account. Almost the whole $2500 I put into the account was withdrawn by someone else without my consent. After contacting M1 about this and filling out the required forms, it took a while for me to get my money back.
Once I got my money back, I decided to contact them to see if I could still get the bonus since I was so close to completing the 30 day holding period anyway. My account was compromised on day 29. I asked to receive the bonus as a one time courtesy and I also highlighted that I had been a loyal brokerage customer of theirs since 2018. Today I noticed that my account was manually adjusted to reflect the $100 bonus. All contact was done via email. Here’s my timeline:
3/11 – Signed up through link on this page
3/14 – Received notice that bank statement was needed to complete transfer
3/16 – $2500 deposited from linked bank account
4/14 – $450 unauthorized transaction
4/19 – $2k unauthorized transaction
5/17 – Both unauthorized transactions reversed
5/23 – Bonus posted
Whoever compromised your account: how did they transfer the money out?
Send me a few hundred bucks, and I’ll put on a demonstration for you
L The money was transferred out by a brokerage service called Alpaca Securities and the transactions had someone else’s name on them. I’ve seen apps like Streetbeat use Alpaca Securities for transfers and they even have their own website. You can buy stocks and crypto through them, so I’m guessing someone was able to link my M1 checking account to their account to purchase stocks or crypto. Not sure if they used my account number somehow or they got it linked through Plaid.
Why am I being downvoted here? I’m just sharing my experience. And how? I didn’t even know you could downvote someone on this blog…
The comment that you replied to shows as “0” for me. What are you seeing? The comment from Christian James Bridgeforth does show as “-1”, which is odd.
I’ve noticed the negative upvotes as well the past couple of days. Maybe William Charles can chime in about it.
Downvotes just hidden with CSS, so you can make them appear if you really care enough about it.
3/30/22 – Opened account
3/30/22 – $2500 deposit posted to the account
5/18/22 – $100 Bonus posted
3/30/22 – Opened account
4/5/22 – $2550 deposit posted to account
5/18/22 – $100 Bonus posted
4/4 $2501 deposit posted in M1 Spend account (there was a delay in the transfer and an email thread with CSR).
5/18 $100 bonus posted.
Haven’t received the bonus yet:
03/21/2022: Opened “M1 Plus” brokerage account.
03/23/2022: $2510 transfer from Ally Checking to M1 Brokerage posts.
03/30/2022: Opened M1 Spend account.
03/31/2022: $2510 transfer from M1 Brokerage to M1 Spend posts.
The terms state that the promotion period is THROUGH March 31, 2022, so it seems that I should’ve received it. I’ll wait until the end of the week, after that I might email them.
Lol, one extra day made all the difference:
05/18/2022: “Spend Promotional Payout” of $100 posted to my spend account.
I didn’t call/email. Hopefully it works out for everyone else. Thanks, Doc.
P1 got it in writing that the requirements would be met as long as the account was opened by 3/31, $2,500 deposited within 14 days and balance kept for 30 days (regardless of Payout date).
Both P1 & P2 met those requirements (deposited after 3/31 and kept full balance for 30 days), but neither got the bonus.
P1 E-mailed to inquire about the missing bonus and got response back “This email confirms your account closure request.”!
P1 E-mailed back stating that “I have NOT requested my account to be closed..”
P2 E-mailed to inquire about the missing bonus and got response back “I have escalated this to our Spend partners and I will get back to you soon.”
lol…sorry, that sucks, but even if you do get the bonus was it worth the extra 14 days?
I called M1 and they had no idea why I was sent a letter that I had requested to close the account. The accounts are open and in good standing.
They paid the $100 bonus. They explained that they had to manually credit customers who opened the account before 3/31 and deposited the money within 14 days after opening but after 3/31.
I messaged M1 on 5-14 after I didn’t get the $100 payout on 5-13. They promptly responded on 5-16 that they would give me a manual adjustment in 3 to 5 days.
P1 & P2 bonuses were paid out here, but we funded by the last day of March, and we maintained the balance until bonus posting.
Thanks for the DP. My funding posted on the last day of March and I have maintained the balance, so hopefully that’s good news for me.