Update 7/19/26: The offer is back for $250 this time. Last offered in 2018 for $300, but not particularly relevant since it’s been so long. Hat tip to the reader snail
Offer at a glance
- Maximum bonus amount: 300 dollars
- Availability: Must live, work or study in Northwest Indiana or Southwest Michigan
- Direct deposit required: Yes, $500+
- Additional requirements: ANY
- Hard/soft pull: Gentle pull
- ChexSystems: Unknown
- Credit card financing: ANY
- Monthly fees: $15, avoidable
- Early account closure fee: $25, 180 days
- Family boundary: A
- Expiration date: August 15, 2026
Offers
- First Source Bank offers a $250 checking bonus when you meet the following requirements:
- Get $500 in Qualified Direct Deposits
- Top up point-of-sale purchases with 10 debit cards
- Register in eDeclaration
Fine Press
- The $300 gift card bonus offer is available, at eligible locations, to new 1st Source Bank 1st Club or Easy Banking Club personal checking accounts opened by December 31, 2018.
- A minimum opening balance of $50 is required for the gift card; and initial setup and deposit of an ACH direct deposit of at least $250, each within 65 days of account opening.
- The gift card will be sent to the customer at the address of registration within 60 days of completing all requirements. Source 1 reserves the right to withdraw or modify this offer at any time.
- Offer cannot be combined with any other offer, one offer per family.
- The account is subject to approval. Accounts titled as Irrevocable Trusts, Estates, Non-Individuals and HSAs are not eligible.
- The $300 gift card will be treated as interest earned and you may receive a 1099-MISC and be responsible for reporting this as income to the IRS.
- Source 1 employees are not eligible. 1st Source Bank – Member FDIC, Equal Home Lender.
- All bank account bonuses are treated as income/interest and as such you must pay tax on them
Avoidance of fees
Easy Banking Club has a monthly fee of $15, this is not waived. There is a $25 early account termination fee if the account is closed within 180 days of opening.
Our verdict
It looks like online account opening is still really in branch, I personally would open it directly in branch as I think you will have a lot less problems that way. Overall a nice big bonus, although the monthly fee is annoying to avoid as it requires a direct deposit. I will add this to our list of the best check bonuses once we confirm it’s a soft pull.
Big thanks to reader Credit Guy 1234 for tipping us off. Learn how to find bonuses and contribute to the site here.
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