Check out the most recent listing of First Merchants Bank promotions, bonuses, and offers here.
Update 4/16/24: There’s currently the standard $50 referral bonus for each member you refer to open a new account. Now, we’ve added a link for those who open an Ohio banking center, or online where the accountholder has an Ohio address, the Referrer and Referee will earn $100.
First Merchants Bank Promotions Review
First Merchants Corporation is the largest financial services holding company located in Central Indiana. They provide their customers with broad financial services delivered locally by bankers who are known and trusted in their communities.
I’ll go over First Merchants Bank offers below.
First Merchants Bank $50 / $100 Referral Bonus
- What you’ll get: $50 / $100 bonus
- Availability: IN, IL, OH (Bank Locator)
- Credit Inquiry: Soft Pull
- Credit Card Funding: None
- Early Termination Fee: None listed
- How to earn it:
- Register using the form to get your referral link.
- Refer: Share your referral link with friends and family.
- Earn $50 / $100 each time someone opens a qualifying checking account or auto loan with your referral link up to $500 a year. Plus they earn $50 / $100 too!
(Limited time offer)
Editor’s Note: For the members you refer that open an account at an Ohio banking center, or online where the accountholder has an Ohio address, the Referrer and Referee will earn $100. Direct Link to Offer
U.S. Bank Smartly® Checking ($700 Bonus) | Chase Total Checking ($300 Bonus) |
Truist Checking ($400 bonus) | KeyBank Checking ($200 bonus) |
Fifth Third Bank Momentum® Checking ($200 Bonus) | SoFi Checking and Savings Account ($325 Bonus) |
First Merchants Bank $400 Checking Bonus (Expired)
- What you’ll get: $400 bonus
- Availability: IN, IL, OH (Bank Locator)
- Credit Inquiry: Soft Pull
- Credit Card Funding: None
- Early Termination Fee: None listed
- How to earn it:
- First Merchants Bank is offering a bonus of up to $400 when you open a new checking account account. The bonus you receive depends on the account you open, but for all accounts you need to complete the following requirements:
- Have a direct deposit of at least $500 within 60 days of account opening.
- Complete 15 debit card transactions within 60 days of account opening.
- Must use promo code BANKOFFERS0722.
- Bonuses are as follows:
- Carefree Checking Account ($50)
- Advantage Checking Account ($200)
- First Direct Checking Account ($200)
- Elite Checking Account ($400)
- First Merchants Simple Access Checking ($50)
- First Merchants Bank is offering a bonus of up to $400 when you open a new checking account account. The bonus you receive depends on the account you open, but for all accounts you need to complete the following requirements:
(Limited time offer)
U.S. Bank Smartly® Checking ($700 Bonus) | KeyBank Checking ($200 bonus) |
Fifth Third Bank Preferred Checking ($200 Bonus) | Truist Checking ($400 bonus) |
How to Avoid Monthly Fees
- First Merchants Carefree Checking: $5.00 monthly; can be waived when you complete:
- One customer initiated transaction1, OR
- Maintain at least $100 in minimum combined personal deposit balances
- First Merchants Advantage Checking: $15.00 monthly; can be waived when you complete:
- One $500 direct deposit per month, OR
- Make 15 debit card transactions per month, OR
- Maintain at least $1,500 in minimum combined personal deposit balances
- First Merchants First Direct Checking: $10.00 monthly can be waived with one $200 direct deposit per month
- First Merchant Elite Checking: $20.00 monthly can be waived with $15,000 in minimum combined personal deposit balances
- First Merchants Simple Access Checking: $4.00 monthly
- First Business Checking: No monthly fees
- Basic Business Checking: $20.00 monthly; can be waived with an average collected balance of at least $5,000
- Business Interest Checking: $20.00 monthly; can be waived with an average collected balance of $7,500
- Commercial Checking: Monthly account analysis service charge and other fees based on account activity. Fees may be reduced or eliminated with earnings credit based on account balance.
Author’s Verdict
This First Merchants Bank $50 Referral Bonus is a great deal because you can earn $50 for opening a new checking account and meeting the simple requirements. They also offer new account owners a $400 bonus so be sure to take advantage!
For more current offers, check out our bank bonuses page. Compare First Merchants Bank rates for CDs and Savings with our best rates for Savings and CD accounts.
Additionally, you may want to compare this offer to bigger banks such as HSBC Bank checking bonuses, Chase Bank checking bonuses, Huntington Bank checking bonuses, Discover Bank checking bonuses, TD Bank checking bonuses, BBVA, or CIT Bank.
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