[IL, IN, OH] F&M Bank $250 Checking Bonus

Update 9/9/23: Bonus is back, now $250 instead of $300 and includes IL now as well. Hat tip to knuds1b

Offer at a glance

• Maximum bonus amount: $250
• Availability: IN, OH, IL
• Direct deposit required: No
• Additional requirements: Use promo code
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Yes, $1,000+ with Visa/Mastercard
• Monthly fees:
• Early account termination fee: 180 days, bonus forfeit
• Household limit: One
• Expiration date:

The Offer

Direct link to offer

• F&M Bank is offering a $300 bonus when you open a new checking account and complete the following requirements:
  • Use promo code  BONUS250

The Fine Print

• You may be eligible for a $300 account opening bonus if you open a new Personal Checking Account.
• The account opening bonus will be treated as interest for IRS (Form 1099-INT) reporting purposes.
• No minimum balance is required to obtain this bonus.
• A minimum deposit may be required to open a Personal Checking Account.
• Offer is not available to existing F&M checking account customers or those with an F&M checking account closed within the last six months.
• Offer limited to one account per household and one account opening bonus per account per calendar year.
• If you close your new Checking Account within 180 days of account opening, the account opening bonus will be forfeited and it will be deducted from the account balance at closing.
• F&M employees and their immediate family members residing in the same household are not eligible for the account opening bonus.
• Account specific requirements may apply based on the account opened but would not affect the eligibility for receiving the bonus.
• Health Savings Accounts are not included in this promotion.
• Limited time offer.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Smart checking has no monthly fees to worry about.

Early Account Termination Fee

Bonus is forfeit if account is closed within 180 days.

Our Verdict

Doesn’t look like there are any requirements apart from the promo code. Seems to be a very good deal if that’s the case.

Hat tip to Woody

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times