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The Five Best Business Bank Bonuses and Promotions

Business owners can get cash back by siging up with these banks.

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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.

Summary of Bonuses

Bank NameBonus Offer Information
Citi
(Nationwide)
Citibank Business Checking
Bank Bonus: Up to $2,000
Minimum Deposit: $5,000
Spending Requirements: None
Expiration Date: 1/4/23
Chase
(Nationwide)
Chase Business CompleteChecking
Bank Bonus: $300
Minimum Deposit: $2,000
Spending Requirements: None
Expiration Date: 2/16/23
American Express
(Nationwide)
American Express Business Checking
Welcome Bonus:
$300
Minimum Deposit: $5,000
Spending Requirements: 10 or more qualifying transactions
Does Not Expire
Axos Bank (Nationwide)Axos Bank Business Checking and Savings Accounts (Multiple Offers)
Bank Bonus:
Up to $200
Minimum Deposit: $2,500
Spending Requirements: None
Expiration Date: 12/31/22
PNC Bank
(AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI, WV)
PNC Business Checking Accounts
Bank Bonus:
Up to $500
Minimum Deposit: $5,000
Spending Requirements: Varies
Expiration Date: 12/31/22

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.

Citi: $2,000 Offer

Citibank Business Checking, from our partner Citi, offers the most impressive business bank account bonus currently available, but you’ll need a lot of cash to maximize it. Business owners can earn up to $2,000, depending on how much they deposit when they open the account. Here’s how it breaks down:

  • Deposit $5,000 or more and receive $200.
  • Deposit $15,000 or more and receive $500.
  • Deposit $25,000 or more and receive $700.
  • Deposit $50,000 or more and receive $1,000.
  • Deposit $100,000 or more and receive $1,500.
  • Deposit $200,000 or more and receive $2,000.

You can qualify by opening a new Citi Business (Analyzed), Streamlined or Flexible checking account and make a qualifying deposit of new-to-Citibank funds within 30 days. You’ll then need to maintain that balance for 60 consecutive calendar days.

  • Offer expiration: January 4, 2023.
  • How much you get: Up to $2,000.
  • How to qualify: Deposit at least $5,000 of new-to-Citibank funds within 30 days and maintain the balance for 60 consecutive calendar days.
  • Qualifying transactions: None.
  • How to get the offer: Open a new account in a Citi branch or through the bonus landing page.
  • When you get it: Once you’ve met the requirements, you’ll receive the bonus as a credit to your account within 90 days from the end of the month in which you qualified for the offer.

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: February 16, 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

American Express: $300 Offer

American Express launched its business checking account shortly after it acquired Kabbage. The account offers a 1.1% APY on balances of up to $500,000, which is impressive. When you sign up, you’ll receive $300 after you deposit $5,000 within 20 days of opening your account and maintain that balance for 60 days while making 10 or more qualifying transactions during that time. 

  • Offer expiration: Unknown.
  • How much you get: $300.
  • How to qualify: Deposit $5,000 within 20 days and maintain an average balance of $5,000 for 60 days and make 10 or more qualifying transactions within 60 days.
  • Qualifying transactions: Make at least 10 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.

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: December 31, 2022.
  • 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
Axos Business Interest Checking
Axos Business Savings

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: December 31, 2022.
  • 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.

Things to Consider Before Signing Up for a Business Bank Account Bonus

Business bank account bonuses can provide you with some cash that you can use to help build your business. However, it’s crucial that you 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 that 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.

Read More About Bank Bonuses and Current Promos:

While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.

Ben Luthi
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.

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