First Merchants Bank is offering new customers a tiered bonus based on which checking account you choose, either $300 or $500. You'll need to register for the bonus before opening the account and make sure the banker enrolls you.
Be sure to check out each of their checking account products (and monthly fees) to decide which bonus to go for. This is now open to all residents in Indiana, Michigan and Ohio.
How To Earn The Bonus
The First Merchants Bank Elite Checking promotion requires you to optionally, make purchases using the account's card in order to earn the $500 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Must register for offer to qualify. Registered name and email address must match the primary accountholder information. Registration date must be on or before account opening date.
- Offer valid to named recipient only.
- If you close the account within 6 months, bonus will be forfeited and early termination fee of $50 will apply.
Open an Elite Checking account before the bonus expires on June 30, 2025
How does this personal checking offer from First Merchants Bank compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
TD Bank
Beyond Checking
- Bonus
- $300
- Account Type
- Personal Checking
- Expires In
- 30 days
- Requires
- Direct Deposit
BMO
Personal Checking
- Bonus
- $400 Cash Bonus*
- Account Type
- Personal Checking
- Expires In
- 100 days
- Requires
- Direct Deposit
Discover
Discover® Cashback Checking
- Bonus
- up to $360
- Account Type
- Personal Checking
- Expires In
- Limited Time
- Requires
- Card Spend
Why First Merchants Bank?
Elite Checking
Elite Checking is First Merchants premium checking account, offering their highest rates on your deposit balance and interest rate bonuses on CDs and MMAs. The account also comes with fee waivers on linked money market accounts and HELOCs, free specialty checks, a 25% discount on safe deposit boxes, and free paper statements (other accounts charge a $3 fee for these). This is in addition to their basic checking features like free overdraft protection, mobile and online banking including compatibility with Samsung and Apple Pay, Zelle payments, Bill Pay, and a 0.25% discount on loans.
Fees
Elite Checking does charge a monthly maintenance fee of $20, but there are ways to get this waived:
- Maintain $15,000 in combined personal deposit balances.
Apply now for an Elite Checking account to earn the $500 bonus offer
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