Offer at a glance
- Maximum bonus amount: $250 + $50 referral
- 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, 2021
- Independent Bank is offering a bonus of $250 when you open a new checking account. Bonus is broken down as follows:
- $50 when you complete 10 debit card transactions within 45 day period
- $100 when you establish a recurring direct deposit of at least $50
- $100 when maintain a balance of $2,500 or more for 60 days
- You can also get $50 for each friend or family member you refer
The Fine Print
- Offer valid for new checking account customers only.
- May not be combined with other offers.
- Subject to 1099-INT reporting.
- Offer paid out within 60 calendar days of qualification.
- Expires December 31, 2021.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
There is no monthly fee as long as you’re enrolled in eStatements
Early Account Termination Fee
Not sure if you get the $250 bonus when you use a referral or not, I assume you do. If anybody has an account feel free to share your referral and let us know in the comments below if it’s a hard or soft pull.
Hat tip to reader allenw
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