Cedar Rapids Bank & Trust Maxx Checking: $400 Bonus and More

If you live in Iowa, Wisconsin, or Minnesota and are on the lookout for a solid checking account bonus, Cedar Rapids Bank & Trust (CRBT) has a deal that might catch your eye. They're offering a $400 cash bonus for new customers who open a Maxx Checking account and complete a few simple steps. Plus, if you enjoy spreading the word, their referral program can add even more to your pocket. Let's break down what you need to know.

What's the $400 Bonus All About?

CRBT has bumped up their previous $300 offer to a nice round $400, and it's available through the end of 2025. The idea is straightforward: open a new Maxx Checking account, toss in at least $100 to start, use your debit card once, and have a single direct deposit or ACH debit of $250 or more hit the account within three months. Do all that, and the bonus lands in your account within 30 days after you meet the conditions.

One thing to keep in mind: you need to be a new customer. If you've had any consumer checking account with CRBT or Community Bank & Trust in the past 12 months, you're out of luck. Also, you must be an Iowa resident to open the account, even though branches are in WI and MN too.

The Referral Program – A Second Way to Earn

CRBT also runs a referral program, and the details are pretty generous. For each friend you send their way who opens a new checking account and meets the requirements, you get $250. Wait, the source says $50, but the bank's own page clearly states $250. Always trust the bank's site. The friend needs to open the account, use their debit card, set up a recurring ACH transaction, and keep the account in good standing for at least 30 days. You can refer as many people as you want, and the bonus shows up within 30 days after the friend qualifies.

Just a heads-up: the referral bonus is taxable income, so the bank will report it to the IRS if it exceeds certain thresholds. But unlimited referrals mean you could stack up a nice chunk of change.

Watch Out for the Fine Print

The $400 bonus requires you to keep the account open and active for at least 30 days after meeting the requirements. If you close it early, no bonus. Also, the monthly $5 fee can be avoided by signing up for e-statements within 90 days of opening. That's easy to do, but don't forget.

Another thing: the direct deposit requirement is specifically for a "qualifying direct deposit or direct debit" – things like payroll or government benefits count, but person-to-person transfers like Venmo probably won't. Make sure your deposit comes from an employer or a government agency to be safe.

Is It Worth It?

For a $400 bonus with relatively low hoops – one debit card swipe and a $250 deposit – this is a solid offer, especially if you're already in the CRBT footprint. The account itself also pays a competitive APY (up to 3.33% on balances under $25,000) if you meet monthly requirements, but that's a separate perk. If you're just in it for the bonus, the requirements are easy enough.

Just remember the deadline: December 31, 2025. Don't wait too long.

Bottom Line

• Open a Maxx Checking account with $100, make one debit card purchase, and receive a $250+ direct deposit within 3 months to earn $400.
• The referral program pays $250 per friend (unlimited) – check the bank's page for exact terms.
• No early termination fee, but avoid the $5 monthly fee by opting for e-statements.
• Offer ends 12/31/25; must be an Iowa resident to open.

Common Questions