[IN & MI] Horizon Bank $250 Checking Bonus

Update 9/19/26: Deal is back until 10/31/2026

Update 5/31/26: Deal is back, this time for $250 and can be opened online. Hat tip to reader Bockrr

Offer at a glance

• Maximum bonus amount:
• Availability: All locations in IN or MI
• Direct deposit required: Yes, recurring direct deposit of at least $100
• Additional requirements: 10 debit cards & online banking
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, mixed reports of them being sensitive
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: $25, 90 days
• Household limit: One
• Expiration date: July 31, 2026

The Offer

Direct link to offer

• Horizon Bank is offering a $250 bonus when you open a new checking account and complete the following requirements:
  • Use promo code INDYGO2026
  • Set up a recurring direct deposit of $500 or more
  • Get a debit card and make 10 transactions

The Fine Print

• To qualify for the $250 cash bonus, you must open a new Everyday Checking account and, within 90 days of opening, set up a recurring qualified direct deposit of at least $500 or more and 10 point-of-sale debit card transactions (purchases with your debit card).
• A “qualified direct deposit” is a direct deposit of a paycheck, pension, Social Security, or other eligible monthly income, electronically deposited by an employer or outside agency into your new checking account.
• Person-to-person and bank transfers do not qualify.
• Cash bonus deposited directly to the new checking account within 30 days of qualifying.
• Account must be in good standing at the time of issuing the bonus.
• Limit one cash bonus per customer.
• The cash bonus is subject to 1099 reporting.
• Offer expires 7/31/2026
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

EveryDay checking has no monthly fee. 

Early Account Termination Fee

According to this comment there is a fee of $25 if the account is closed within 90 days.

Our Verdict

Kust keep in mind there is at least one report of them being ChexSystems sensitive.  I will be adding it to the best bank bonuses. Previously this was a $300 bonus (back in 2018) but it required opening in branch.

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