Update 1/2/26: Bonus now $350. Hat tip to reader Rodgers
Offer at a glance
- Maximum bonus amount: $350
- Availability: MI only
- Direct deposit required: Yes
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: Up to $1,000
- Monthly fees: None
- Early account termination fee: $10, 60 days
- Household limit: None listed
- Expiration date:
December 31, 2022March 31, 2027
Contents
The Offer
- Independent Bank is offering a bonus of $350 when you open a new checking account.
- Receive direct deposits totaling $500 or more within 90 calendar days
The Fine Print
- Subject to 1099-INT reporting.
- Qualifications must be met within 90 calendar days of account opening to receive bonus.
- Offer paid out within 60 calendar days of qualification. V
- alid for new checking account customers only. Cannot be combined with any other offer. Account must be in good standing to receive the bonus.
- Account must be opened by December 31, 2022.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
There is no monthly fee as long as you’re enrolled in eStatements
Early Account Termination Fee
$10 if closed within 60 calendar days.
Our Verdict
Better than the $200 bonus that was previously offered. Worth doing and will add it to the best bank account bonus page.
Hat tip to reader Katie
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
