GBC Bank Is Handing Out $300 and $400 Checking Bonuses for Indiana Residents

If you live in Indiana and you're in the market for a new checking account, GBC Bank has two cash bonuses worth a look right now. One pays $300, the other pays $400, and both come with a fairly simple requirement: route your paycheck or government benefits into the account. The offers are tied to specific account types and have a hard deadline of November 30, 2026, so there's no rush, but there's also no reason to sit on it if you're already thinking about switching banks.

Two bonuses, one basic playbook

The $400 and $300 offers follow the same structure. You open a new GBC Bank Easy Checking or On Campus Checking account, then set up qualifying direct deposits totaling at least $300 within 90 days. Once that's done, the bonus lands in your account within 120 days of opening.

The main difference is the payout amount and the fact that the $400 offer runs through November 30, 2026, while the $300 offer is described as a limited-time promotion. The bank's own page leads with the $300 bonus, so if you're leaning toward the bigger payout, make sure you're looking at the right offer page before you apply.

What counts as a direct deposit (and what doesn't)

GBC Bank is specific about this, and it matters because a misstep here means no bonus. Qualifying deposits are electronic payments of your paycheck, pension, or government benefits like Social Security, coming from your employer or a government agency.

A few things that do not count: person-to-person payments like Zelle, transfers from investment or brokerage accounts, self-transfers between your own accounts, and micro-deposits. If your income arrives through one of those channels, this bonus probably isn't going to work for you.

The fine print worth reading twice

The offer is only for new GBC Bank checking customers. If you've had a checking account with them before, or if you closed one within the last 90 days, or if you closed an account with a negative balance in the past three years, you're out of luck.

There's also a frequency cap: one new checking account bonus every two years, and one bonus per account. So if you've claimed a GBC bonus recently, this one won't stack.

One more detail that catches people off guard: the bonus is considered interest, which means GBC Bank will report it on IRS Form 1099-INT. You'll owe taxes on it at your ordinary income rate. It's not a huge deal for a $300 or $400 bonus, but it's not tax-free money either.

Fees and account upkeep

Easy Checking carries a $2 monthly paper statement fee, but you can waive it by enrolling in eStatements. That's a pretty low bar.

There's a $25 early account termination fee if you close the account within 90 days. Since the bonus itself may not post until up to 120 days after opening, you'll want to keep the account open well past that 90-day mark anyway. Closing early could cost you both the fee and the bonus.

The account needs to remain open and unrestricted at the time of payout. If it's flagged or restricted for any reason, the bonus may not arrive.

Is it worth it?

For Indiana residents who can route a real direct deposit into a new checking account, this is a straightforward way to pick up a few hundred dollars. The requirements are clear, the timeline is generous, and there's no household limit listed, though the two-year frequency cap applies per customer.

The main caveats are the Indiana-only availability, the specific direct deposit definition, and the fact that the bonus is taxable. If you're outside Indiana or your income doesn't come through a qualifying deposit, this one isn't for you.

Compared to some national bank bonuses that require thousands in deposits or multiple bill pays, GBC's $300 threshold is on the lower end. That makes it accessible if you're just starting out or switching banks for the first time.

Bottom Line

• GBC Bank is offering $300 and $400 checking bonuses for Indiana residents through November 30, 2026.
• You need $300 or more in qualifying direct deposits within 90 days of opening an Easy or On Campus Checking account.
• The bonus posts within 120 days of account opening, and the account must stay open and unrestricted.
• P2P payments, brokerage transfers, self-transfers, and micro-deposits do not count as direct deposits.
• The bonus is taxable and reported on IRS Form 1099-INT.
• One bonus per account, and only one new checking bonus every two years.

Common Questions