Deal has ended, view more bank account bonuses by clicking here.
update 4/6/25: Offer is back at this new link and valid through 6/15/25. (ht to John R) It’s now only available for Iowa residents, apparently (?)
Offer at a glance
- Maximum bonus amount: $300
- Availability:
Nationwide (Excludes California & Oregon)available to residents of Iowa, Wisconsin and Minnesota only - Direct deposit required: Yes, $250+
- Additional requirements: Yes, see below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5, avoidable
- Early account termination fee: 90 days
- Household limit: None listed
- Expiration date: August 31, 2024
Contents
The Offer
- Maxx: by Cedar Rapids Bank & Trust is offering a $300 checking bonus:
- the account has been open a minimum of 30 days
- a reoccurring ACH transaction has occurred of at least $250
- the debit card has been used
- the account has a positive balance.
The Fine Print
- $300 bonus will be paid when the following occur: the account has been open a minimum of 30 days, at least 1 qualifying direct deposit or direct debit, made through the Automated Clearing House (ACH) network, is set up with a minimum of at least $250 per transaction, posted per statement cycle, the debit card has been used and the account has a positive balance.
- Requirements must be met within the first six months.
- New client cannot have closed a MAXX by Cedar Rapids Bank & Trust checking account within the previous 12 month period.
- Only new checking account clients are eligible.
- Cannot be combined with any other offer. Account must be active at the time the bonus is paid.
- Promotion ends 8/31/24.
- Bonus will be reported to the IRS as applicable.
- Client will be responsible for any applicable taxes on the bonus. Consult your tax advisor.
- 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 a $5 monthly fee, this is waived if you receive eStatements (also a requirement for the bonus)
Early Account Termination Fee
There is an EaTF if closed within 90 days.
Our Verdict
So Cedar Rapids Bank & Trust recently launched this new digital brand to go national, everything is still backed by the brick and mortar business by also operating in all states now apart from California and Oregon. I wouldn’t be surprised to see this bonus pulled early when they see the influx of new accounts from this promotion so keep that in mind if interested (they did reach out to us to clarify that this is available nationwide though) Now location restricted so should be fine. We will add this to our list of the best bank account bonuses, especially as it seems according to the terms that a true direct deposit is not required.
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
Post history:
- Update 12/29/24: Bonus is back but only $300 now (was $333). Valid until 2/28/24. Hat tip to reader Ben
- Update 7/30/24: Offer is showing again, but now states available to residents of Iowa, Wisconsin and Minnesota only.
- Bonus has now expired. They have stated the offer will be honored for those who applied before the terms changed and will look at opening it nationwide again once they have processed the backlog.
- Update: They changed the disclosure now: “Accounts available to residents of Iowa, Wisconsin and Minnesota only.” Hopefully no issues for those who already signed up.
View Comments (513)
Didnt work for Minnesota address
Additional terms of this bonus offer include: Account must be opened a minimum of 30 calendar days, be active and have a positive balance at the time bonus is paid, which will be applied as a credit to the new account. Requirements must be met within 3 months of account opening. Client cannot have a previously closed checking account with either Cedar Rapids Bank & Trust or Community Bank & Trust within the past 12 months. Only new Maxx Checking™ Account clients eligible. Limit One New Account Bonus per client per account. Cannot be combined with other offers. Account only eligible for Iowa residents. Promotion ends 6/30/2025 and is subject to change without notice.
My (P1) Chase Biz ACH ($2.50 fee) worked as DD for me (P1)
My (P1) Chase Biz ACH ($2.50 fee) worked as DD for my P3 (different last name, different address)
Also received $200 referral bonus (for referrer). I think referrer bonus is down to $100 currently.
@2 @6
$300 thru 6/30, does not require referral.https://crbt.bank/personal/banking/retail-banking-products/maxx-checking-account
"Account only eligible for Iowa residents."
Received promo email with referral program and new client getting $300 bonus.
Fidelity pushes may have stopped working. $251 push on 1/2 and 1/9, debit card transaction 1/2. No bonus as of 1/26
There was some referral code complexity so hopefully you hit them up and they gotcha taken care of.
Can you elaborate? Having some trouble securing the bonus myself
Well, this is a first. I was part of the summer application spree. After calling them to close the account, they gave me an earful for "clearly using them for the bonus money".
Oh well, I love being chastised for taking advantage of the offer they made to us!
I secured messaged them months ago to close and they asked why. I ignored it until I noticed I kept receiving statement notification emails. I messaged them again and they again asked why I was closing so soon after opening. I told them online banking doesn't work for me, there are times I need to visit a branch and there are none near me. No response but the next day I logged in, the account wasn't there anymore.
Ha. Once a chase banker pretty much called me out for opening & closing about 5 accounts over the last decade.
Current employer allows splitting up to 6 accounts! With banks now I typically use this real DD for the first 3 months - usually enough to get the bonus. Then hold with min funds for 3 months, then close. "I lost my job a couple of months ago and this account slipped my mind due to the stress of bills and family nagging". An easy excuse.
This is for the old $333 bonus that was briefly nationwide, but thought the data point might be useful for some anyway.
7/20/24: account opened
11/15/24: push from Discover
12/5/24: push from Discover
1/15/25: $3.19 real debit purchase
1/16/25: $333 bonus posted
So the 6 month timeline is no issue and it still posted automatically.
I started the application last week and did not finish or submit it. I was unsure after reading people were being denied.
I've received 3 emails since asking me to finish my application, I thought maybe there was a chance this would benefit me and my chances of getting approved. I clicked the link to finish the application in the last email and was approved.
Just had to remember to make sure the promo code was in the app.
Oops. I should have mentioned I am in Minnesota, but not anywhere near a branch
I can say from firsthand experience; this bonus is legit and the bank itself is of a high caliber.
Direct Deposit is NOT required. Says you can do DD or ACH payment such as rent, mortgage, or household bill (their examples)