[IA] Maxx: by Cedar Rapids Bank & Trust: $300 Checking Bonus

Update 7/20/25: Deal is back and valid until September 30, 2025. Iowa only this time. Hat tip to reader Other James

update 4/6/25: Offer is back at this new link and valid through 6/15/25. (ht to John R) It’s now only available for Iowa residents, apparently (?)

Offer at a glance

• Maximum bonus amount: $300
• Availability: Nationwide (Excludes California & Oregon) available to residents of Iowa, Wisconsin and Minnesota only
• 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 $300 checking bonus:
  • the account has been open a minimum of 30 days
  • a reoccurring ACH transaction has occurred of at least $250
  • the debit card has been used
  • the account has a positive balance.

The Fine Print

• $300 bonus will be paid when the following occur: the account has been open a minimum of 30 days, at least 1 qualifying direct deposit or direct debit, made through the Automated Clearing House (ACH) network, is set up with a minimum of at least $250 per transaction, posted per statement cycle, 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) Now location restricted so should be fine. 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:

Post history:

• Update 12/29/24: Bonus is back but only $300 now (was $333). Valid until 2/28/24. Hat tip to reader Ben
• 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.