Posted by William Charles on March 14, 2018
Bank Account Bonuses

Published on March 14th, 2018 | by William Charles

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[MI Only] Macatawa Bank $100 Personal Or Business Checking Bonus + $50 For Referring – Direct Deposit Not Required

Update 8/3/18: Bonus is the same for new member, but they increased the bonus for the referrer up to $100 for August and September (thanks to reader Steadycash).

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: MI only
  • Direct deposit required: No
  • Additional requirements: 10 debit card transactions
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: At least $900
  • Monthly fees: $0-$5, avoidable
  • Early account termination fee: $50, 90 days
  • Household limit: One per person
  • Expiration date: December 31st, 2018

The Offer

Direct link to offer

  • Macatawa Bank is offering a referral bonus of $100 for new members that are referred by an existing member. The existing member will also receive a $50 bonus. Bonus is broken down as follows:
    • $25 for opening a new checking account (personal or business). Minimum opening balance is $25 for personal accounts and $50 for business
    • $75 for requesting a debit card and making at least $10 debit card transactions within 60 days of account opening

The Fine Print

$50 referral bonus

  • Cannot be combined with any other offer.
  • Referrer must have a Macatawa Bank checking account to participate.
  • If you do not have a Macatawa Bank checking account, you must open one to participate and receive the $50 Refer a friend bonus.
  • Individuals can earn up to $590 per year for referrals.
  • Bonus may be subject to IRS tax reporting. $50 bonus payment will be deposited within 90 days of your referral opening their qualified account (Rebound Checking is not eligible).
  • Macatawa Bank reserves the right to disqualify any referrals in circumstances where we reasonably believe they were not sent to us in good faith. Macatawa Bank may discontinue this offer at any time.
  • See Bank for complete details. By participating in the Refer a friend program you recognize that whomever you refer or whoever referred you will have knowledge that you have an account with Macatawa Bank.
  • Program ends December 31, 2018.

$100 new user bonus

  •  Offer valid on new personal or business checking accounts (Rebound Checking is not eligible for bonus) opened January 1, 2018 – December 31, 2018. $25 (personal) or $50 (business) account minimum opening balance requirement must be met at the time of account opening.
  • Cannot be combined with any other offer. To be eligible for a bonus payment, account must be opened with funds not currently on deposit with Macatawa Bank and account holder must not have been a signer on a checking account with Macatawa Bank during the past 90 days.
  • $25 bonus payment will be deposited within the first 90 days of account opening.
  • $75 debit card use bonus will be credited to the new checking account after the 3rd statement cycle
  • . Bonus payments will only be paid to accounts that are in good standing with the bank. Account openings are subject to normal approvals.
  • Must present coupon/code at time of opening.
  • Value of bonus will be added as interest on your year-end statement of earnings.
  • By participating in the Refer a friend program you recognize that whoever gave you this /code will have knowledge that you have opened an account at Macatawa Bank. Limit one offer per household/business. Member FDIC.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

$50 Early Account Termination Fee

There is a $50 early account termination fee if you closed the account within 90 days according to their fee schedule.

Rewards Checking $5 Monthly Fee

The easiest personal account to keep fee free is their rewards checking account. The $5 monthly fee is waived if:

  • $500 daily balance or $2,500 relationship balance or
  • eStatement enrollment or
  • Age 23 or younger (Young Adults) or age 60 or better (Seniors)

Business Basic Checking $0 Monthly Fee

This is the easiest business account to keep fee free as it has no monthly fees to worry about.

Our Verdict

Update: Looks like it’s not available nationwide sadly. That being said now that we know it’s a soft pull I do think it’s worth doing if you live in the eligible area. The bonus requirements are easy to meet, it’s easy to keep fee free and you can possible get some extra money from doing referrals as well. Feel free to share your referral codes in the comments but please make sure you also share your experience with this bank. I’ll be adding best checking bonuses.

Hat tip to Maximizing Money

Useful posts regarding bank bonuses:



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Does someone have a referral link to share?

Me me me! : REFER861889

I just received an phone call and email from Macatawa asking for the name of the person who referred me as well as there account number of the person as well. SirEel I used yours. Hey DoC is this at all normal?

unknown… How did you receive your code?

I used the other code here in my appl’ and have not received any query from them about that person’s details.

Steadycash…? Any emails or deposit$ came your way from this?

Also, looks to have been about 80 appl’s filed between mine and yours, by code number.

I have received referral bonus a couple times now. Thanks to those involved.

I used SirEel’s link too!

Mine is REFER875310 and I would greatly appreciate it.

I have to contribute the following info:
–Visa or MasterCard funding allowed
–up to and including $1500 in funding! Happy opening.

Will gladly be the DP everyone wants to see once we have a referral code.

I will also volunteer to gather DPs … if anyone has referral code to share

Might only be Michigan guys. Just applied and was denied for “living in a geographic region where we do not have a branch location”

I made two calls and spoke to a different business banker each time. As a DP, know that a business account cannot be opened online (must be done in branch) and the business must exist within their footprint.

I will also gladly provide a DP, but would need a referral code.

In going thru the regular checking account application info (but not submitted) it does state that CC funding is allowed. Just don’t know the $ limit and accepted card types.

Going to put a CL ad up in w mich tonight letting people know to get/post their code here for $$.

DP: 3/14/18 tried applying from California. Denied as not eligible

who referred you? can that person share their code here. I’m sure many of us would like to try as well.

My experience with Macatawa:

They did a similar deal back in 2011. They were offering a $100 bonus to open an account and do 5 debit card purchases. This came in the mail on a flyer I received. I signed up in the branch, and on a whim I said that my Dad referred me, who I knew had an account there. They gave me $25 extra for this, and $25 for him as well. This $25 posted 6 days after opening the account. I then completed the 5 debit purchases on 2/27/2011 and the bonus posted on 3/11/2011. I had to keep the account open for 6 months, and then I closed it.

My Dad still has an account there and he is going to get the code tomorrow for me. I will post more once I go through the process.

I’m not sure if this will help but I finally received a code from a friend of mine who filled out the pdf. It was a little bit of a process for the code. It appears it will work for everyone as it says to share the code:

REFER241659

If you do not want this code in here please delete this post. I am going to sign up with this but it has to be in branch. I did not find anywhere to do this online.

**Offer valid on new personal or business checking accounts (Rebound Checking is not eligible for bonus) opened January 1, 2018 – December 31, 2018. $25 (personal) or $50 (business) account minimum opening balance requirement must be met at the time of account opening. Cannot be combined with any other offer. To be eligible for a bonus payment, account must be opened with funds not currently on deposit with Macatawa Bank and account holder must not have been a signer on a checking account with Macatawa Bank during the past 90 days. $25 bonus payment will be deposited within the first 90 days of account opening. To qualify for an additional $75 open a Macatawa Bank Debit Card and make at least 10 debit card transactions within 60 days of account opening. $75 debit card use bonus will be credited to the new checking account after the 3rd statement cycle. Bonus payments will only be paid to accounts that are in good standing with the bank. Account openings are subject to normal approvals. Must present coupon at time of opening. Value of bonus will be added as interest on your year-end statement of earnings. By participating in the Refer a friend program you recognize that whoever gave you this coupon will have knowledge that you have opened an account at Macatawa Bank. Limit one offer per household/business. Member FDIC.

I used this code on 3/30

Filled out page with personal data. In TX. Got message below after checking eligibility screen and then email:

Sorry
You do not qualify for the product you requested. We sent an email to shawn*****with more details.

Dear Shawn,

We regret that we cannot complete the application process you began online at http://www.MacatawaBank.com. Your application could have been declined for many reasons including living in a geographic region where we do not have a branch location.

Additional Decline Reasons:

We are unable to verify your identity or other personal information at this time.

If you believe your application was declined in error, please contact our Service Center Team at the phone number below.

Thank you for considering Macatawa Bank.

Customer Experience Team

1-877-820-2265

NewAccounts@MacatawaBank.com

Is this a soft pull?

I have not seen anything show up on my cr so I assume it is.

Just to follow up with a data point. I was able to fund my account for $500 via a new Citi AA business card.

Macatawa means black. Macatawa river runs out to Lk Michgn. Been on there as a kid. It’s not black. Not sure further etymology on that. Maybe in mining days it ran black.

This is a keeper for me. I need a local bank for family estate things between Three Rivers and Gran Rapds especially, so this worked out perfectly. Always saw those signs, now im in the members club.

I’ve opened chkg & svgs accts now. Straight forward, 10 min’s this afternoon. SE MI address. Opt-out overdraft button at end. Funded $900 on USaa Clas Plat. Shows pending there, fingers crossed it’s a purchase.

Received my Referral Code at end, by request box, to be emailed. Online Chat rep was able to give it on the spot after request (Email said to wait a bit) sputtered. Used the code first posted here on application in promo box, on first page.

This is the referral Refer a Friend code given today: REFER861889

Still shows $0 bal though, maybe by midnight or monday…

Online is a clean uncluttered site.
Link external transfer accts thru Pay Bills tab. Search for your bank and make sure you have their zip.

DP:
Usaa Clas Platinum was not coded cash

I used the code above use my referral Code: REFER861966

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