[IN, IL, WI] CIBM Bank $250 Verification Bonus, Direct Deposit Not Required –

[IN, IL, WI] CIBM Bank $250 Verification Bonus, Direct Deposit Not Required –

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Update 7/22/23: The offer is back and valid until December 31, 2023. This time only the $250 bonus is available.

The offer at a glance

  • Maximum bonus amount: $600
  • Availablity: IN, IL, WI
  • Direct deposit required: Yes for a $600 bonus
  • Additional requirements: None
  • Hard/soft draw: Soft draw
  • ChexSystems: Unknown (sensitive)
  • Credit card financing: None
  • Monthly fee: None
  • Early Account Termination Fee: Six months, $25
  • Household limit: None listed
  • Expiration date: 06/30/23

The offer

Direct link to the offer | $600 bonus & $250 bonus

  • CIBM Bank offers two bonuses, one for $250 and the other for $600. The bonuses are as follows:
    • Get $600 ($50 per month for 12 months) when you open a new high performance check with promo code IWANT6004HP and meet the following conditions:
      • Maintain a minimum monthly balance of $2,500 for 6 months.
      • Receive direct deposits of $1,000 or more each month
      • Use your account. Make 4 qualifying debits of $25 or more per month
    • Get $250 when you open a new checking account and meet the following conditions:
      • Enter the promo code GET2502023 when opening the account
      • Perform 10 debit card transactions per month for the first two full calendar months

The fine print

Bonus of $600:

  • Offer available on new High Performance Chequing accounts opened between 01/01/23 and 06/30/23 and limited to one per customer.
  • Offer is not available to current CIBM Bank personal checking account holders or those who have closed a CIBM Bank personal checking account within the last 12 months.
  • Promo code IWANT6004HP must be used at time of account opening.
  • During each of the twelve (12) calendar months following the month of account opening, the client will be eligible to receive a bonus payment of $50.00 after completing all required qualifying activities.
  • Each month’s qualifying activities will be reviewed and any related bonus payments made, regardless of other months.
  • The maximum total bonus per account is $600.00. During each calendar month, “Qualifying Activities” are: (i) the Account must maintain a minimum balance of $2,500.00; (ii) the account must receive one or more qualifying direct deposits of a cumulative total of $1,000.00 or more; and (iii) four or more Qualifying Charges of $25.00 or more must be posted to the Account. “Qualifying Direct Deposits” are electronic deposits of your salary, retirement, or government benefits (such as Social Security) from your employer or the government. “Qualifying Debits” are debit card purchase transactions, checks or ACH debit transactions. Bonuses will be credited to the account no later than 5 business days after the end of the calendar month in which they were earned. Account must be open and in good standing to receive any bonus payments. Cash bonus considered interest and reportable on IRS Form 1099-INT. Minimum opening deposit of $100.00 required. Accounts closed within 6 months of opening date, subject to $25.00 early closing fee. Annual percentage yield (APY) exact as of 12/31/22. Balances from $0.00 to $4,999.99 (0.03% APY) and $5,000.00 and above (0.07% APY). Variable rate account and interest rate subject to change. Account remains subject to all terms and conditions outlined in the “Terms and Conditions of Your Account” and all Account Disclosures, including monthly service fee of $7.00 if minimum monthly balance of $500.00 or average daily balance of $1,000.00 is not maintained. We reserve the right to modify or cancel any part of this offer at any time.

Bonus of $250:

  • Offer valid on new accounts opened between 01/01/23 and 30/06/2023 and limited to one per customer.
  • Offer is not available to current CIBM Bank Personal Checking Account holders or those who have closed a CIBM Bank Personal Checking Account within the last 6 months.
  • Promo code GET2502023 must be used at time of account opening.
  • To qualify for the bonus, the new account holder must make 10 debit card transactions per month in each of the first two full calendar months following the month the account was opened.
  • Transactions may take one or more business days from the date the transaction was made to register and clear the account.
  • The bonus will be paid out within 120 days of account opening, provided the debit card transaction conditions have been met.
  • The account must be open and have a balance greater than zero when the bonus is paid.
  • Maximum bonus per account $250.
  • The cash bonus is considered interest/income and must be reported on IRS Form 1099-INT or 1099-MISC. Minimum opening deposit of $100 required.
  • Accounts are closed within 6 months of the date of opening subject to a $25.00 early closing fee.
  • We reserve the right to modify or cancel any part of this offer at any time.
  • All bank account bonuses are treated as income/interest and as such you must pay tax on them

Avoid fees

Monthly fee

High Performance Verification has a monthly fee of $7 which is waived with a minimum balance of $1,000.

Early Account Termination Fee

$25 fee if closed within six months.

Our opinion

This is better than the previously available $450 bonus. Some people will prefer the $250 bonus because you don’t have to worry about meeting the requirements for 12 months and no direct deposit is required. We will add this to the best bank bonuses.

Hats off to reader Daniel

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