Horizon Bank's $250 Checking Bonus Is Back — But You'll Need to Act Fast

Horizon Bank has brought back its $250 checking bonus, and this time you can open the account online. But the offer expires on October 31, 2026, so if you're in Indiana or Michigan and looking for a quick cash boost, you'll want to move fast. Here's what you need to know to snag the bonus and avoid any pitfalls.

What You Need to Do to Get the $250

To qualify for the $250 bonus, you'll need to open a new Everyday Checking account using promo code INDYGO2026. Then, within 90 days of opening the account, set up a recurring direct deposit of at least $500 and make 10 point-of-sale debit card transactions.

The direct deposit must be a qualified one—meaning it comes from an employer or government agency, like a paycheck, pension, or Social Security. Transfers from person to person or between banks won't count. The bonus will be deposited into your account within 30 days after you meet all the requirements, as long as your account is in good standing.

The Fine Print You Shouldn't Ignore

There are a few important details to keep in mind. First, the offer expires on October 31, 2026, so you need to open the account and complete the requirements before then. Second, there's a $25 fee if you close the account within 90 days of opening. That's a relatively short window, so plan to keep the account open for at least three months.

Also, Horizon Bank has mixed reports when it comes to ChexSystems sensitivity. If you've had issues with ChexSystems in the past, you might want to check your report before applying. The good news is that this offer is a soft pull, so it won't affect your credit score.

Avoiding Fees and Other Tips

The Everyday Checking account has no monthly fee, which is a nice change from many other banks. However, you'll want to avoid closing the account too soon to dodge that $25 early termination fee.

Remember that the bonus is considered income, so you'll receive a 1099 form and need to report it on your taxes. Also, the bonus is limited to one per customer, so if you've gotten this bonus before, you won't be eligible again.

• Keep the account open for at least 90 days to avoid the $25 fee.
• Set up direct deposit early to ensure it posts within the 90-day window.
• Make sure your debit card transactions are point-of-sale purchases, not ATM withdrawals.
• Check your ChexSystems report if you're unsure about approval.

Is This Bonus Worth It?

If you live in Indiana or Michigan and can easily meet the direct deposit and debit card requirements, this is a solid bonus. The $250 is a decent chunk of change, and the ability to open online makes it more convenient than the previous in-branch-only version.

Just be mindful of the 90-day closure fee and the tax implications. Compared to other bank bonuses, this one is relatively straightforward and doesn't require a huge deposit. If you're in the market for a new checking account, it's worth considering.

Bottom Line

• Horizon Bank is offering $250 for new Everyday Checking accounts with promo code INDYGO2026.
• Requirements: $500+ recurring direct deposit and 10 debit card purchases within 90 days.
• Offer expires October 31, 2026, and is available to IN and MI residents.
• Avoid closing the account within 90 days to prevent a $25 fee.
• The bonus is taxable, and there's a limit of one per customer.

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