[Expired] [MI only] Independent Bank $250 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 4/17/22: Deal is back July 15, 2022. Now $200 instead of $250 unfortunately. Hat tip to reader AllenW

Offer at a glance

• Maximum bonus amount: $200 + $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 July 15, 2022

The Offer

Direct link to offer

• Independent Bank is offering a bonus of $200 when you open a new checking account. Requirements are as follows:
  • Complete 20 debit card transactions within 60 day period
  • Complete 4 direct deposits of $100 or more within 60 day period
• 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

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

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