Ion Bank
Ion Bank Free Choice Checking $300 Bonus
Ion Bank pays you $300 for a new Free Choice Checking account with at least $1,000 in direct deposits and at least 4 debit card purchases each month, for 3 consecutive months. No minimum balance, no monthly fee. Offer runs through December 31, 2026.
- Bonus amount
- $300
- Expires
- Dec 31, 2026
- Time to complete
- ~90 days
- Bonus deposited in
- ~120 days
- Difficulty
- Medium
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Requirements
Last verified: Aug 20, 2026
Open a Free Choice Checking account
Open a new Ion Bank Free Choice Checking account. No minimum balance and no monthly fee.
$1,000 in direct deposits each month for 3 months
Receive at least $1,000 per month in direct deposits for 3 consecutive months after the account is opened.
4 debit card purchases each month for 3 months
Make at least 4 point-of-sale Ion Bank Debit Mastercard purchases each month, for 3 consecutive months after the account is opened (12 total across the period).
Ion Bank credits the $300 bonus within one statement cycle after you complete the requirements.
Account Details
No stated minimum hold period beyond the account needing to remain open and in good standing to receive the cash bonus payment. No stated post-payout clawback.
Eligibility
New Free Choice Checking customers only. Not available to existing Ion Bank checking customers, or to anyone whose Ion Bank checking account was closed within the past 90 days, or closed with a negative balance within the past 3 years.
- Ion Bank is a Connecticut and New Jersey community mutual bank with branches concentrated in Connecticut (Naugatuck Valley and surrounding areas). The bank publishes no residency rule for this offer and accounts can be opened online, but in-person branch service is regional.
- Personal Free Choice Checking accounts only.
Tips & Gotchas
- →This is a recurring monthly requirement, not a one-time threshold. You need $1,000+ in direct deposits AND 4+ debit purchases in each of 3 consecutive months, not just once over 90 days.
- →Not available if you already have an Ion Bank checking account, or closed one within the past 90 days, or closed one with a negative balance within the past 3 years.
- →Ion Bank is a Connecticut-based mutual bank. Branch service is concentrated in the Naugatuck Valley area, but the account can be opened online from anywhere.
- →No minimum balance and no monthly fee on the account itself, separate from the bonus requirements.
Can You Earn This Bonus Again?
Fine Print
Offer is for Free Choice Checking accounts opened during the promotional period ending December 31, 2026. Bonuses are limited to one per individual. To earn the $300 bonus, deposit a minimum of $1,000 per month through direct deposit and make a minimum of 4 point-of-sale Ion Bank Debit Mastercard transactions for 3 consecutive months after the account is opened. Not available to existing Ion Bank checking customers, or to anyone whose Ion Bank checking account was closed within the past 90 days, or closed with a negative balance within the past 3 years. The new account must remain open to receive the cash bonus payment. Ion Bank may close accounts with a zero balance without prior notice. The bonus will be credited within one statement cycle after the completion period, if requirements are met. Deposited funds will be reported as income on IRS Form 1099. Offer may expire without notice and may be withdrawn at any time.
Taxable income · Reported on 1099-INT
Related Articles
What is a direct deposit?
An electronic payment sent directly into your bank account, usually from an employer or government.
Does Zelle Count as Direct Deposit for Bank Bonuses?
Usually no. At most banks a Zelle payment arrives coded as peer-to-peer and will not trigger the bonus. Citi is the clear exception. Its Enhanced Direct Deposit terms name Zelle as a qualifying deposit, and every Zelle report we have from Citi got paid.
Do Bank Bonuses Show Up on a 1099-INT?
Yes. Bank bonuses are taxable income. Once you earn $10 or more from a single bank in a calendar year, the bank sends a 1099-INT and you report it as ordinary income on your tax return.
Also see: this month's best bank bonuses and community DD data points.
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