Update 7/30/24: Offer is showing again, but now states available to residents of Iowa, Wisconsin and Minnesota only.
Bonus has now expired. They have stated the offer will be honored for those who applied before the terms changed and will look at opening it nationwide again once they have processed the backlog.
Update: They changed the disclosure now: “Accounts available to residents of Iowa, Wisconsin and Minnesota only.” Hopefully no issues for those who already signed up.
Offer at a glance
- Maximum bonus amount: $333
- Availability: Nationwide (Excludes California & Oregon)
- Direct deposit required: Yes, $250+
- Additional requirements: Yes, see below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5, avoidable
- Early account termination fee: 90 days
- Household limit: None listed
- Expiration date: August 31, 2024
The Offer
Direct link to offer
- Maxx: by Cedar Rapids Bank & Trust is offering a $333 checking bonus:
- the account has been open a minimum of 30 days
- a reoccurring ACH transaction has occurred
- the debit card has been used
- the account has a positive balance.
The Fine Print
- $333 bonus will be paid when the following occur: the account has been open a minimum of 30 days, a reoccurring ACH transaction has occurred, the debit card has been used and the account has a positive balance.
- Requirements must be met within the first six months.
- New client cannot have closed a MAXX by Cedar Rapids Bank & Trust checking account within the previous 12 month period.
- Only new checking account clients are eligible.
- Cannot be combined with any other offer. Account must be active at the time the bonus is paid.
- Promotion ends 8/31/24.
- Bonus will be reported to the IRS as applicable.
- Client will be responsible for any applicable taxes on the bonus. Consult your tax advisor.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has a $5 monthly fee, this is waived if you receive eStatements (also a requirement for the bonus)
Early Account Termination Fee
There is an EaTF if closed within 90 days.
Our Verdict
So Cedar Rapids Bank & Trust recently launched this new digital brand to go national, everything is still backed by the brick and mortar business by also operating in all states now apart from California and Oregon. I wouldn’t be surprised to see this bonus pulled early when they see the influx of new accounts from this promotion so keep that in mind if interested (they did reach out to us to clarify that this is available nationwide though). We will add this to our list of the best bank account bonuses, especially as it seems according to the terms that a true direct deposit is not required.
Useful posts regarding bank bonuses:
