Check out the most recent listing of First Merchants Bank promotions, bonuses, and offers here.
Update 5/26/26: There’s now a $600 checking bonus available valid through 12/31/26. There is also a $50 referral bonus available.
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 $600 Checking Bonus
- What you’ll get: $600 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:
- To earn this offer you must ask an FMB banker to enroll you in the “MIPROSPER Checking Offer”, or enter the promo code when opening online, when opening a new Prosper or Prosper Plus Checking account between 3/1/26, and 12/31/26.
- You can get $600 when you open a Prosper Plus Checking account
- Deposit at least $25,000 within the first 7 calendar days of account opening AND
- Maintain a minimum daily balance of $25,000 beginning the 8th calendar day through 90 day calendar days of account opening. OR
- Get $400 when you open a Prosper Checking account &
- Establish a direct deposit of $500 or more within 90 days of opening a Prosper Checking account.
- If all qualifications are met, the offer will be credited to the new account in the sixth month following account opening and will appear on your statement as “New Checking Offer Reward.”
(Expires 12/31/2026)
| SoFi Checking and Savings Account ($425 Bonus) | KeyBank Checking ($300 bonus) |
| HSBC Premier Checking (Up to $5,000 Cash Bonus), | |
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
| KeyBank Checking ($300 bonus) | SoFi Checking and Savings Account ($425 Bonus) |
| U.S. Bank Smartly® Checking ($450 Bonus) | |
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)
- 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)
| SoFi Checking and Savings Account ($425 Bonus) | KeyBank Checking ($300 bonus) |
| HSBC Premier Checking (Up to $5,000 Cash Bonus), | |
How to Avoid Monthly Fees
- First Merchants Prosper Checking: $0 or $10. Ways to no fee:
- One $500 direct deposit2 per month OR
- Maintain at least $1,000 in minimum combined personal deposit balances, OR
- You are a Student (under 25) or a Senior (62+)
- First Merchants Prosper Plus Checking: $0 or $25. Ways to no fee:
- One $1,500 direct deposit per month OR
- Maintain at least $20,000 in minimum combined personal deposit balances
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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, TD Bank checking bonuses, or CIT Bank.
