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As a small business owner, having a business bank account is a crucial step in separating your business and personal expenses, and it can add legitimacy for newer startups looking for financing. But as you consider various features, such as how many free transactions you get, how they integrate with accounting software and whether you get ATM fee refunds, it’s also a good idea to search for accounts that offer bonuses for new account holders.

Bank bonuses incentivize business owners to sign up and start using their accounts, but the amounts and requirements can vary. While bank account bonuses aren’t as plentiful for small businesses as they are for consumers, there are still a handful of options available nationwide and in select states.

Best Business Bank Bonuses and Promotions

Business bank account bonuses can be a great way to earn some cash while you’re trying out a new account. That said, it generally takes some effort, and some banks require more than others to earn the cash. This is especially true if you want to take multiple bank accounts for a trial run. 

Here are some of the best bank account bonuses that are out there currently and what you need to do to earn them.

Chase Business Complete℠ Checking: $300 Bonus Offer

Chase Business Complete Checking is the bank’s flagship business checking account, and it offers all of the benefits you’d expect from one of the largest banks in the U.S.

Qualifying for its $300 bonus isn’t difficult, but there are a series of qualifying activities you’ll need to complete to be eligible. Our full review details everything you need to know about Chase Business Complete Checking.

  • Offer expiration: May 18, 2023
  • How much you get: $300
  • How to qualify: Open and fund a new account with $2,000 or more within the first 30 days from account opening, maintain at least a $2,000 balance for 60 days, and complete at least five qualifying transactions within the first 90 days of opening your account
  • Qualifying transactions: Qualifying activities include debit card purchases, Chase QuickDeposit, Chase QuickAccept Deposits, ACH credits, Chase Online Bill Pay and wire transfers
  • How to get the offer: Open an account through this partner link
  • When you get it: After you have completed all the above checking requirements, your bonus will be deposited into your new account within 15 business days

Chase Business Complete Checking℠

Open Account

at Chase

  • Our Rating 5/5 Read the review
  • APYN/A
  • Minimum
    Deposit Required
    N/A
  • Intro Bonus $300Expires May 18, 2023 More Info

    New Chase Business Complete Checking customers can earn a $300 bonus with qualifying activities.

The Chase Business Complete Checking℠ account is an attractive option, so long as you can meet the requirements to waive its monthly fees. With a $300 bonus available for new accounts and access to useful perks like Chase QuickAccept℠, Chase offers a lot of value to its business checking customers.

Overview

The Chase Business Complete Checking℠ account comes loaded with a valuable sign-up bonus and an assortment of helpful perks, so long as you can meet the requirements to waive its monthly fees. It’s a good fit for many business checking customers, regardless of business size.

Pros

  • Generous signup bonus
  • Several options to waive monthly fee
  • Same-day deposits using QuickAccept℠ service
  • Huge network of in-person branches and ATMs

Cons

  • Monthly maintenance fee
  • Overdraft fees are relatively high
  • Limit on fee-free cash deposits and physical transactions

American Express Business Checking: 30,000 Point Offer

American Express launched its business checking account shortly after it acquired Kabbage. The account offers a 1.3% APY on balances of up to $500,000, which is impressive. When you sign up, you’ll receive 30,000 Membership Rewards points after you deposit $5,000 within 30 days of opening your account and maintain that balance for 60 days while making 5 or more qualifying transactions during that time. 

  • Offer expiration: Unknown
  • How much you get: 30,000 Membership Rewards points.
  • How to qualify: Deposit $5,000 within 30 days and maintain an average balance of $5,000 for 60 days and make 5 or more qualifying transactions within 60 days
  • Qualifying transactions: Make at least 5 qualifying transactions within 60 days, including mobile deposits, ACH transfers, wire transfers and bill payments
  • How to get the offer: Open a new account through the American Express website
  • When you get it: Once you’ve met the requirements, the bonus will be deposited into your account within 8-12 weeks
START HERE

Axos Bank: $200 Offer

Axos Bank is an online-only bank that offers a variety of business checking and savings accounts. If you open one of the bank’s business checking or savings accounts, you can earn up to $200, depending on how long your business has been operating. 

The bank offers $200 if your business was incorporated after June 1, 2020 (use the promo code NEWBIZ200 when you apply), or $100 if your business is older than that (use the promo code NEWAXOSBIZ when you apply). To get the bonus, you’ll need to deposit at least $2,500 in the account and maintain an average daily balance of that amount for the first two months after account opening. Note that you can only receive one bonus per calendar year, so you can’t stack them by applying for a checking and a savings account at the same time.

  • Offer expiration: March 31, 2023
  • How much you get: Up to $200
  • How to qualify: Deposit $2,500 and maintain that balance for the first two months after account opening
  • How to get the offer: Open a new account through the Axos website
  • Qualifying transactions: None
  • When you get it: Once you’ve met the requirements, the bonus will be deposited into your account within five business days of your statement cycle date

Axos Business Checking and Savings Accounts to Consider

Axos Basic Business Checking Account

Open Account

at Axos

  • Our Rating 4/5
  • APYN/A
  • Minimum
    Deposit Required
    N/A
  • Intro Bonus $100-$200Expires March 31, 2023 More Info

    If you incorporated after June 1, 2020, earn a $200 bonus when you use NEWBIZ200 on your new account application; if you incorporated prior to June 1, 2020, earn a $100 bonus by using promo code NEWAXOSBIZ on your account application.

If your small business is new or doesn’t generate a lot of sales yet, Axos’ Basic Business Checking account may be a good fit. This account doesn’t feature a monthly maintenance fee (which is unusual for a business bank account), a minimum balance requirement or a minimum opening deposit. Plus, depending on when your business incorporated, you have the chance to earn a cash bonus of up to $200.

Overview

With Axos Bank’s Basic Business Checking Account, you don’t have to worry about monthly maintenance fees, minimum balances or a minimum opening deposit. Add on a signup bonus worth up to $200, and it’s easy to recommend this account to newly incorporated small businesses, or those who want to try out Axos Bank.

Pros

  • No monthly maintenance fee
  • Unlimited domestic ATM fee reimbursements
  • No minimum deposit required to open an account
  • 2 free domestic wire transfers each month

Cons

  • Account does not earn interest
  • No physical branch locations

Axos Business Interest Checking

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at Axos

  • Our Rating 4/5
  • APYUp to 1.01% More Info

    Customers earn 1.01% APY on balances between $0 and $49,999.99; balances between $50,000 and $249,999.99 earn 0.20% APY; balances of $250,000 or more earn 0.10% APY.

  • Minimum
    Deposit Required
    $100
  • Intro Bonus $100-$200Expires March 31, 2023 More Info

    If you incorporated after June 1, 2020, earn a $200 bonus when you use NEWBIZ200 on your new account application; if you incorporated prior to June 1, 2020, earn a $100 bonus by using promo code NEWAXOSBIZ on your account application.

Axos Bank’s Business Interest Checking account offers an APY of up to 1.01%, which is relatively strong for a business checking account. However, it’s worth noting that this APY is only available to customers with balances of $49,999 or less; those with higher account balances may be better off elsewhere.

Overview

Axos Bank’s Business Interest Checking Account is a great option for newly incorporated businesses eager to earn interest on deposits. It offers up to 1.01% interest, as well as a signup bonus worth up to $200, depending on when your business incorporated.

Pros

  • Earn interest on deposits
  • Monthly maintenance fee can be waived
  • Unlimited reimbursements from any domestic ATM

Cons

  • APY decreases with higher balances
  • Limited fee-free transactions every month
  • Monthly maintenance fee

Axos Business Savings Account

Open Account

at Axos

  • Our Rating 3/5 Read the review
  • APY0.20%
  • Minimum
    Deposit Required
    $1,000
  • Intro Bonus $100-$200Expires March 31, 2023 More Info

    If you incorporated after June 1, 2020, earn a $200 bonus when you use NEWBIZ200 on your new account application; if you incorporated prior to June 1, 2020, earn a $100 bonus by using promo code NEWAXOSBIZ on your account application.

While Axos Business Savings doesn’t offer the strongest interest rate available, the signup bonus worth up to $200 and relatively low monthly maintenance fee (with option to waive) help to make up for it.

Overview

Axos Bank’s basic Business Savings account offers 0.20% APY on all balances, which isn’t especially strong. Plus, customers must maintain a minimum account balance of $2,500 or more to avoid paying a monthly maintenance fee. On the other hand, this account offers a signup bonus worth up to $200, as well as perks like free remote deposits and image statements.

Pros

  • Free remote deposits and free image statements
  • Daily compounding interest
  • Access to the Axos mobile app
  • Reimbursement of domestic ATM fees

Cons

  • APY is not competitive
  • Minimum deposit required to open account
  • Monthly maintenance fee for lower account balances
  • No physical branch locations

PNC Bank: $500 Offer

PNC Bank offers four different business bank accounts. If you open a Business Checking or Business Checking Plus account, you can earn $200 by maintaining a minimum average ledger balance of $5,000 for each of the first three statement cycles and make at least 20 qualifying transactions with your debit card during that time.

If you have a larger business, you can earn $500 when you open an Enterprise Plan or Analysis Business Checking account and maintain a minimum average ledger balance of $30,000 for each of the first three statement cycles.

  • Offer expiration: March 31, 2023
  • How much you get: Up to $500
  • How to qualify: Deposit $5,000 in a Business Checking or Business Checking Plus account and maintain that balance for the first three statement cycles, or deposit $30,000 in an Enterprise Plan or Analysis Business Checking account and maintain that balance for the first three statement cycles
  • How to get the offer: Open a new account through the PNC Bank website
  • Qualifying transactions: For the smaller bonus, make at least 20 qualifying debit card transactions within the first three statement cycles. That includes any debit card purchase made at the point of sale using your signature or PIN or a purchase made electronically or online using your debit card number, including recurring payments
  • When you get it: Once you’ve met the requirements, the bonus will be deposited into your account within 90 days
START HERE

Huntington Bank Business Checking Accounts: $100-$1,000 Bonus Offers

With three business checking options, Huntington Bank offers a range of accounts that could fit the needs of startups, small businesses and larger companies. New customers can earn a bonus for a limited time by opening an eligible account and meeting a handful of requirements. (These offers are only available to residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia and Wisconsin.)

  • Offer expiration: May 7, 2023
  • How much you get: $100-$1,000
  • How to qualify: Open an eligible business checking account and deposit new money that meets the account’s bonus requirement within 60 days of account opening. You will also need to maintain that balance for 90 days.
  • Eligible Huntington business accounts:
    • Business Checking 100: Deposit $2,000 to earn a $100 bonus
    • Unlimited Business Checking: Deposit $5,000 to earn a $400 bonus 
    • Unlimited Plus Business Checking: Deposit $20,000 to earn a $1,000 bonus
  • How to get the offer: Open a new account online or in-branch

When you get it: The bank will send your bonus within 14 days of meeting requirements

M&T Bank Tailored Business Checking Account: $500 Bonus Offer

M&T Bank offers goal tracking features, merchant services and no maintenance fees for the first three months of account opening. Once the $20 monthly maintenance fee kicks in, you’ll have numerous opportunities to waive it. To get the $500 bonus offer, you’ll need to open a new Tailored Business Checking account and maintain an Average Ledger Balance of at least $5,000 in the third full calendar month after the account is opened.

  • Offer expiration: March 31, 2023
  • How much you get: $500
  • How to qualify: Open a new Tailored Business Checking account and maintain an Average Ledget Balance of at least $5,000 in the third calendar month after the account is opened. 
  • How to get the offer: Open a new account online or in-branch

When you get it: Receive your bonus within 45 days after the end of the third calendar month after opening the account.

How to Pick the Right Business Bank Bonus

Business bank account bonuses can provide you with some cash that you can use to help build your business. However, it’s crucial to read the fine print of the bonus before you sign up. Some banks can be very technical about their requirements. You may even want to take screenshots of the terms and conditions, so you can refer back to them later. This is especially important if the bonus is set to expire before your qualifying period ends.

One potential caveat you’ll find is that many banks require you to keep your account open for a set period of time. If you cancel too early, you could lose the bonus money, even if you’ve already transferred it out of your account. Finally, bank account bonuses typically get reported to the IRS as interest income, so expect to receive a 1099 form at the start of tax season. You’ll need to report this income when you file your tax return.

As you compare the different bonuses that are out there, consider which ones have requirements you can easily meet. For example, if you sign up for an account that requires you to maintain a minimum balance for a few months, make sure you won’t need that money during that time. Also, watch out for monthly fees that can eat into the value of your bonus. With that in mind, it may even be worth trying to get more than one bonus as you try to decide which bank account will be best for you in the long run.

BL

Ben Luthi

Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.