First Merchants Bank Offer

Bonus Details

Prosper Checking: $400 bonus. Prosper Plus Checking: $600 bonus. Bonus credited in the sixth month following account opening.

How To Qualify

Enter MIPROSPER online or ask a banker to enroll you. Prosper: receive one qualifying employer or agency direct deposit of at least $500 within 90 days for $400; transfers, Zelle, and branch/ATM deposits do not qualify. Prosper Plus: deposit $25,000 in new funds within 7 calendar days and maintain a $25,000 minimum daily balance from day 8 through day 90 for $600. New personal checking customers only; existing customers and those who closed an account within 12 months are ineligible. One bonus per client.

The Fine Print

Monthly Fees: $10
Credit Inquiry: Soft Pull
Household Limit: One per client
Account Type: Personal Bank Account
Promotion Start Date: 3/1/2026
Expiration Date: 12/31/2026
ChexSystems: Yes
Additional Requirements: If you or the bank close the account within six months of opening, you may be charged the full bonus amount plus a $50 early-closing fee.
Availability: Michigan

Monthly Fee Details

Prosper Checking: $10/month, waivable with $500 direct deposit, $1,000 minimum combined deposit balance, or Student (under 25)/Senior (62+) status. Prosper Plus Checking: $25/month, waivable with $1,500 direct deposit or $20,000 minimum combined deposit balance.

Early Account Closure Fee

If account is closed within 6 months of opening, you may be charged up to the full offer amount ($600 or $400) plus a $50 early closing fee.

Official offer terms

Source wording for the promotion. View official source Recorded Invalid Date.

To earn this offer you must ask an FMB banker to enroll you in the “MIPROSPER Checking Offer”, or enter the promo code when opening online, when opening a new Prosper or Prosper Plus Checking account between 3/1/26, and 12/31/26. You can get $600 when you open a Prosper Plus Checking account, deposit at least $25,000 within the first 7 calendar days of account opening AND maintain a minimum daily balance of $25,000 beginning the 8th calendar day through 90 day calendar days of account opening. OR get $400 when you open a Prosper Checking account, establish a direct deposit* of $500 or more within 90 days of opening a Prosper Checking account. *A qualifying Direct Deposit is an electronic credit to your account by your employer or an outside agency. Internal or External transfers from one account to another, deposits made through Zelle®, or deposits made at a banking location or ATM, do not qualify. Multiple deposits of less than required amount will not qualify. Existing personal checking customers or those who have closed an FMB personal checking account (either as the primary or secondary account holder) within 12 months of the offer start date and the opening date of the new account. (on or after 3/1/26) are not eligible. Recipient’s primary residence address must be in Michigan. If all qualifications are met, the offer will be credited to the new account in the sixth month following account opening and will appear on your statement as “New Checking Offer Reward.” This promotion is only applicable once per client. If the account is closed by you or FMB within 6 months of opening, you may be charged up to the full offer amount ($600 or $400) and a $50 early closing fee. Monthly maintenance fee $0 or $10 Ways to no fee: One $500 direct deposit2 per month OR Maintain at least $1,000 in minimum combined personal deposit balances, OR You are a Student (under 25) or a Senior (62+)3 $0 or $25 Ways to no fee: one $1,500 direct deposit per month2 OR Maintain at least $20,000 in minimum combined personal deposit balances 2Multiple deposits of less than required amount will not qualify to waive the monthly maintenance fee.

Disclosure

Deposit accounts and loan products are offered by First Merchants Bank, Member FDIC, Equal Housing Lender. FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.