First Merchants Bank Promotions: $50, $250, Checking Referral Bonuses (IN, IL, OH, MI)

Check out the most recent listing of First Merchants Bank promotions, bonuses, and offers here.

Update 6/24/24: There is now a $250 checking bonus available through 12/31/24. There is also a $50 referral bonus.

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 $250 Checking Bonus

• What you’ll get: $250 bonus
• Availability: IN, IL, OH, MI (Bank Locator)
• Credit Inquiry: Soft Pull
• Credit Card Funding: None
• Early Termination Fee: None listed
• How to earn it:
  • Visit a First Merchants banking center to open your new First Merchants account, and ask the First Merchants representative to enroll you in the “ATM250 Checking Offer.” Or open your First Merchants account online at www.FirstMerchants.com and enter the promo code “ATM250” in the promotion code box on your application.
  • Complete one Direct Deposit of $500 or more EACH month for the first 3 months AFTER the month of account opening; and complete 10 debit card transactions or payments (via ACH, bill pay, or check) of at least $10, EACH month for the first 3 months AFTER the month of account opening.
  • After meeting the 3 months of bonus requirements, the applicable reward will be credited to the new checking account within 90 days. ‘New Checking Offer Reward’ will appear on the monthly checking statement when the reward is credited to the account holder’s checking account.

(Expires 12/31/2024)

First Merchants Bank $50 Referral Bonus

• What you’ll get: $50 bonus
• Availability: IN, IL, OH, MI (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 each time someone opens a qualifying checking account or auto loan with your referral link up to $500 a year. Plus they earn $50 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

First Merchants Bank $400 Checking Bonus (Expired)

• What you’ll get: $400 bonus
• Availability: IN, IL, OH, MI (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)

(Limited time offer)

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.