As a small business owner, it’s essential to have a separate bank account in your company’s name. But when you’re searching for a new account for your company, you might want to consider opening a checking or savings account that offers the chance to qualify for a new account bonus.
Below are three small business bank accounts with bonuses that are easy to earn—Chase Business Complete Checking℠, U.S. Bank Business Checking, and PNC Bank Business Checking. Read on to learn the benefits that each bank has to offer, along with details on how to qualify for these attractive promotions.
1. Chase Business Complete Checking: $300 Bonus
The Business Complete Checking account from Chase is a solid option for small business owners with one of the best new customer bonuses on the market. Not only does the account come with a variety of benefits that could make it easier to manage your business finances, you also have the chance to qualify for a $300 bonus when you open a new account.
As with any bank bonus, your small business will need to complete certain actions to qualify for a new account bonus with Chase. Some banks make you jump through a lot of hoops to earn such bonus opportunities. Yet the eligibility requirements for the Business Complete Checking account bonus are relatively easy to satisfy.
How to Qualify:
- Sign up for a Chase Business checking account as a new customer. Your business can complete this step online or at a local Chase branch. New accounts must be opened by October 20, 2022 to qualify for the promo.
- Deposit at least $2,000 within 30 days of enrollment. These funds must represent at least $2,000 in new money added to your account.
- Maintain a $2,000 minimum balance. Try to avoid letting the funds in your account dip below $2,000 for at least 60 days.
- Complete five qualifying transactions within 90 days. Qualifying transactions may be debit card purchases, Chase Online Bill Pay, ACH credits, wire transfers (credit or debit) or mobile deposits through the Chase app (aka Chase QuickDeposit).
In addition to the new customer bonus opportunity, the Chase Business Complete Checking account has several other perks that might make you want to consider opening an account. For example, your business may be able to accept debit and credit card payments (for a fee) without filling out an additional application. You can also enjoy the convenience of same-day deposits, unlimited electronic deposits, and the award-winning Chase Mobile app.
The account does feature a $15 monthly fee. However, there are five easy ways to qualify for a waiver (e.g., active-duty or veteran military status, maintaining a $2,000 minimum daily balance, making more than $2,000 in purchases on a Chase Ink Business credit card, etc.).
2. U.S. Bank Business Checking: $300 Bonus
U.S Bank has three different checking accounts to choose from for your business—U.S. Bank Silver, Gold or Platinum Business Checking. New customers may qualify for a $300 bonus with each of these checking account options.
One of the reasons U.S. Bank’s new account bonus is attractive is because qualifying for the $300 benefit isn’t difficult.
How to Qualify:
- Open a new business checking account with U.S. Bank. All three account options—silver, gold and platinum—are eligible for the promotion. Accounts must be opened between June 3, 2022 and July 29, 2022 to qualify; make sure to use promo code Q2BUS22 on your application.
- Deposit at least $3,000. Be sure to make your new money deposit within the first 30 days of account opening, and to maintain a minimum balance of $3,000 for at least 60 days of account opening.
- Enroll in the U.S. Bank Mobile App or U.S. Bank online banking. Complete this step within 60 days of account opening.
- Complete five qualifying transactions. These may include debit card purchases, ACH credits, merchant deposits, mobile check deposits, bill pay or wires (credits or debits). Note that these transactions must also be completed within 60 days of account opening.
All U.S. Bank business checking accounts come with free mobile check deposits, online bill pay, and access to the U.S. Bank Mobile App. The Silver Business Checking account also features a $0 monthly maintenance fee.
Gold Business Checking and Platinum Checking accounts require monthly fees of $20 and $30, respectively. Qualifying for a fee waiver is possible with each account, but the qualification requirements are somewhat steep compared with other business checking accounts options.
To qualify for a waiver of the $30 fee on the U.S. Bank Platinum checking account, for example, your business will need to collect $25,000 (average) through a U.S. Bank Payment Solutions Merchant Banking account. Alternatively, your business may qualify for a fee waiver with $75,000 in combined average balances between business deposits and outstanding business credit balances.
3. PNC Bank Business Checking: $200 Bonus
PNC Bank is a third checking account bonus option that’s available to small businesses nationwide. The bank is offering new customers the chance to qualify for $200 when they open a new qualifying Business Checking or Business Checking Plus account by September 30, 2022.
Earning a $200 bonus from PNC Bank is a pretty straight forward process for small business owners. However, minimum balance and qualifying transaction requirements are somewhat steep compared to the other two banks on our list.
How to Qualify
- Open a new account with PNC Bank. New PNC Business Checking or PNC Business Checking Plus customers may be eligible if they open an account before the offer ends on September 30, 2022.
- Maintain an average ledger balance of $5,000. This $5,000 minimum balance must remain in place for the first three statement cycles after account opening.
- Complete 20 qualifying transactions. Qualifying transactions consist of PNC Visa® Business Debit Card transactions only, and must be completed within the first three statement cycles.
Both PNC Business Checking accounts come with free online banking, bill pay and mobile banking features for customers. Business Checking account holders can make up to 150 transactions per month at no charge. Business Checking Plus account holders can complete up to 500 free monthly transactions.
The bank does charge monthly maintenance fees—$10 for Business Checking or $20 for Business Checking Plus. However, for the Business Checking Plus if you have a $5,000 average monthly collected balance, make $5,000 in eligible purchases on a linked PNC business credit card or generate $5,000 in PNC Merchant Services® transactions, you may qualify for a fee waiver. The $10 basic business checking fee is easier to see waived, since only a $500 average monthly collected balance, $500 in PNC business credit card purchases or $500 in PNC Merchant Services transactions is required.