First Merchants Bank Bonus, Get Up to $500 with New Account (IL, IN, OH, MI)

First Merchants Bank Bonus, Get Up to $500 with New Account

First Merchants Bank has a new promotion that can earn you up to $500 when you open a new checking account. The offer is available online and in-branch, for IL, IN, OH and MI residents.

Offer

You can earn between $100 and $500 with this promotion, depending on which account you open:

$100 for opening a new Carefree Checking Account
$200 for opening a new Advantage Checking Account
$500 for opening a new Elite Checking Account or First Direct

You must fulfill the following requirements for each bonus:

Use promotional code 1911CKPMI
Deposit at least $100 at account opening
Complete at least one direct deposit of $500 or more within the first 60 days after account opening.

Your reward will be credited to this open account within 60 days of all conditions being met. To the extent required by law, First Merchants will report the value of this reward to the IRS on Form 1099-INT.

Eligibility

Ofer available in IL, IN, OH and MI.
Existing FMB checking accounts or accounts converted to another personal checking account are NOT eligible for this offer.
You can receive only one new checking account reward related offer per household per calendar year.

Fees

Carefree Checking account – $5 monthly maintenance fee waived with:
- One customer-initiated transaction per month OR
- 100 minimum combined personal deposit balances
Advantage Checking account – $15 monthly maintenance fee waived with:
- 15 debit card transactions OR
- $500 direct deposits OR
- $1,500 minimum combined personal deposit balances
Elite Checking account – $20 monthly maintenance fee waived with:
- $15,000 minimum combined personal deposit balances

Guru’s Wrap-Up

A good bonus but limited to a few states. The $500 bonus is the highest I have seen for a First Merchants Bank account, but to get $500 you need to open an Elite Checking account which requires $15K to waive the $20 monthly fee.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.