Editor’s note: This is a recurring post with regularly updated account details.
The best business bank account promotions should entice companies to sign up for a new business checking, savings, or credit card product by providing cash back bonuses or statement credits. These bonuses should be easy to attain with clearly stated qualification requirements. We have searched our recommended business banks to find the best and latest account promotions and offers.
Here are the best ones for March 2024:
- Mercury (Fit Small Business exclusive): Earn $300 cash back when you spend $2,000 on your debit card within 90 days
- Bank of America: Earn up to $500 in cash back and statement credits for signing up for a new account
- U.S. Bank: Earn up to $800 cash back bonus for opening a new account
- Chase: Earn a $300 cash back bonus for opening a new account
- Huntington*: Earn up to $1,000 cash back bonus for opening a new account
- Truist: Earn a $300 cash back bonus for opening a new account
- PNC Bank: Earn up to $1,000 cash back bonus for opening a new account
- Citibank*: Earn up to $2,000 cash back bonus for opening a new account
- Axos Bank: Earn up to a $400 cash back bonus for signing up for a new account
- California Bank & Trust*: Earn up to $2,500 cash back bonus for opening a new business checking account
- M&T Bank: Earn up to $1,000 and bonus savings rate by opening new accounts
*These providers are geographically limited. See our banking reviews for each provider for details or visit the provider’s website for more information.
Account | Promotion type | Amount | Requirements | Expiration | |
---|---|---|---|---|---|
Checking | Cash back | $300 | Spend $2,000 within 90 days of opening an account | None | |
Checking | Cash back | $100 or $200 | Open new account, meet deposit, and balance requirements | Dec. 31, 2024 | |
Checking & Credit Card | Statement credit | $300 | Open new account, spend $3,000 within first 90 days on credit card | Dec. 31, 2024 | |
Checking | Cash back | $400 or $800 | Open new account online and meet qualifying activities | August 30, 2024 | |
Checking | Cash back | $300 | Open new account, meet deposit, and balance requirements | July 22, 2024 | |
Checking | Cash back | $100, $400, or $1,000 | Open new account and meet qualifying activities | April 30, 2024 | |
Checking | Cash back | $300 | Open new account and meet qualifying activities | March 28, 2024 | |
Checking | Cash back | $200, $500, or $1,000 | Open new account and meet qualifying activities | March 31, 2024 | |
Checking | Cash back | Up to $2,000 | Open new account and meet qualifying activities | July 8, 2024 | |
Checking | Cash back | Up to $400 | Open new account and meet qualifying activities | June 30, 2024 | |
Checking | Cash back | $250 to $2,500 | For new customers; open new account and meet qualifying activities | April 30, 2024 | |
Checking, Merchant Services, Savings | Cash back and bonus rate | Up to $1,000 and 4.75% annual percentage yield (APY) bonus rate | Open new accounts and meet qualifying activities | March 29, 2024, and March 31, 2024 | |
Mercury: Earn $300 Cash Back When You Spend $2,000 on Your Debit Card Within 90 Days of Account Opening
Business Checking Terms | Features | |
Required Opening Deposit | None |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | No limit | |
Automated Clearing House (ACH) Fees | None | |
Monthly Fee | None | |
ATM Fees | Free access to Allpoint ATM network; no charge out of network | |
Cash Deposited | Cash deposits not accepted | |
APY | N/A | |
An exclusive for Fit Small Business audiences, Mercury has an ongoing business checking account promotion that allows you to earn $300 cash back when you spend $2,000 on your debit card within 90 days of account opening. To take advantage of that promotion, open a new account on its website and ensure you meet the cash back requirements.
Bank of America: Earn Up to $500 in Cash Back & Statement Credits
Fundamentals Business Checking Terms | Features | |
Required Opening Deposit | $100 |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 200, then 45 cents per item | |
ACH Fees | None | |
Monthly Fee | $16; waivable | |
ATM Fees | Free in network; $2.50 per transaction out-of-network | |
Cash Deposited | $7,500 free per month; then 30 cents per $100 per statement cycle | |
APY | N/A | |
Bank of America is offering two different business checking account promotions: one is a cash back bonus of up to $200 for opening a new checking account, and the other is a $300 statement credit on a Bank of America small business credit card. Both require qualifying actions to earn the cash back and statement credit.
The company’s website states that this offer must be extended by Bank of America via direct communication, so be sure to ask for it specifically when shopping around. If you sign up for an account first, you may not receive the offer.
Click the tab below to see how to earn each bonus:
- New money is new funds deposited into your Business Advantage Banking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
- A transfer done via ATM, online, or teller, or a transfer from a Bank of America deposit account or brokerage account, such as a Merrill account, is not considered new money.
- A cash withdrawal from an existing Bank of America account and deposited into the new Business Advantage Banking account is not considered new money.
- The Maintenance Period begins 31 calendar days after account opening and ends 90 calendar days after account opening.
- All account applications are subject to approval.
- Your account does not qualify for the bonus until you provide all the information required in connection with opening the account by the promotion end date of Dec. 31, 2024. This includes information required to identify each account owner and to report the bonus to the IRS, including a validly completed IRS Form W-9 or Form W-8 (as applicable.)
- The value of this bonus may constitute taxable income to you.
- To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Please consult your tax advisor as neither Bank of America, its affiliates, nor their employees provide tax advice.
- Please consult a financial center, visit bankofamerica.com, or see the Business Schedule of Fees found at bankofamerica.com/businessfeesataglance for other account fees, rates, and information.
- All new Business Advantage Banking accounts must be open up to the date the earned bonus is paid to receive the earned bonus.
- We will make every attempt to deposit the earned cash bonus directly into your Business Advantage Banking account within 60 days from the end of your qualifying period.
U.S. Bank: Earn up to $800 Cash Back Bonus for Opening a New Account
Silver Business Checking Terms | Features | |
Required Opening Deposit | $100 |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 125 per month; then 50 cents per transaction | |
ACH Fees | None | |
Monthly Fee | None | |
ATM Fees | No charge for out-of-network ATMs, third-party fees may apply | |
Cash Deposited | 25 free cash deposits per cycle | |
APY | N/A | |
U.S. Bank has two business checking account offers. You can earn up to an $800 cash back bonus for new accounts with qualifying activities. You can earn the bonus when you open a new, eligible U.S. Bank business checking account online (promo code: Q2AFL24) and complete qualifying activities, subject to certain terms and limitations. This offer is valid through August 30, 2024. Member FDIC.
Click the tab below to see how to earn each bonus:
- Promo code Q2AFL24 MUST be used when opening the business checking account. Limit of one Business Checking bonus per business.
- A $100 minimum deposit is required to open a U.S. Bank Silver, Gold, Gold with Interest, or Platinum Business Checking account.
- Earn up to an $800 Business Checking bonus by opening a new U.S. Bank Silver Business Checking, Gold Business Checking, Gold Business Checking with Interest, or Platinum Business Checking account online between April 24 and August 30, 2024.
- The checking account must be opened online to qualify.
- To earn the $400 bonus, you must make new deposits of at least $5,000 in new money deposits (Direct/Branch, Mobile Check Deposit, ACH, or Wires) within 30 days of account opening and then maintain a balance of at least $5,000 through 60 days after account opening.
- To earn the $800 bonus, you must make new deposits of at least $25,000 in new money deposits (Direct/Branch, Mobile Check Deposit, ACH, or Wires) within 30 days of account opening and then maintain a balance of at least $25,000 through 60 days after account opening.
- The new money deposit cannot be funds held by U.S. Bank or its affiliates.
- Offer may not be combined with any other business checking account bonus offers.
- Offer is not valid if you or any signer on the new business checking account has an existing U.S. Bank business checking account or had a U.S. Bank business checking account in the last 24 months.
- All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms, and policies, reference your Business Pricing Information Disclosure. This document can be obtained by contacting a U.S. Bank branch or calling (800) 872-2657.
- Bonus will be reported as interest earned on IRS Form 1099-INT, and the recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
- A transaction includes deposits and other credits, checks paid and other debits, ACH and deposited items, and signature and PIN-based purchases made with a U.S. Bank Business Debit Card. The U.S. Bank Business Debit Card is issued by U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc.
Chase: Earn a $300 Cash Back Bonus for Opening a New Account
Business Complete Banking Terms | Features | |
Required Opening Deposit | None |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 20, then 40 cents per transaction | |
ACH Fees | $25 for first 25 items per month; 15 cents per item above 25 per month | |
Monthly Fee | $15; waivable | |
ATM Fees | Third-party operator fees may apply out-of-network (non-Chase ATM) | |
Cash Deposited | $5,000 free per month; $2.50 per $1,000 after each month | |
APY | N/A | |
Chase offers a $300 bonus if you open a new Chase Business Complete Banking Account online or in a branch and complete qualifying activities within the first 90 days.
To earn the $300 bonus:
- Step 1: Open a new Chase Business Complete Banking account online or in a branch and present the $300 bonus offer (which you can receive by entering your email address on Chase’s website).
- Step 2: Deposit a total of at least $2,000 in new money within 30 days.
- Step 3: Maintain at least a $2,000 balance for 60 days from the offer enrollment.
- Step 4: Complete five qualifying transactions (listed below) within 90 days of enrollment.
Once those are completed, the bonus will be deposited into your account within 15 days. However, if you close your account within six months after offer enrollment, Chase will deduct the bonus for that account at closing. The offer is valid until July 22, 2024.
Bonus/Account Information: Checking offer is not available to existing Chase business checking customers, local, state, or federal government entities or agencies, not-for-profit organizations, PACs, or those with campaign accounts, or whose accounts have been closed within 90 days or closed with a negative balance within the last three years.
You can receive only one new business checking account opening-related bonus every two years from the last enrollment date and only one bonus per account. To receive the business checking bonus:
- Visit a branch or chase.com/business and open a new Chase Business Complete CheckingSM account. Accounts are subject to approval.
To receive the $300 bonus:
- Deposit a total of $2,000 or more in new money into your new checking account within 30 days of offer enrollment; and
- Maintain at least a $2,000 balance for 60 days from the offer enrollment. The new money cannot be funds held by your business at Chase or its affiliates.
- Complete five qualifying transactions within 90 days of offer enrollment. Qualifying transactions are debit card purchases, Chase QuickAcceptSM deposits, Chase QuickDepositSM, ACH (Credits), wires (Credits and Debits), and Chase OnlineSM Bill Pay.
After you have completed all the above checking requirements, the bank will deposit the bonus into your new account within 15 days:
- Offer is good for one-time use.
- Employees of JPMorgan Chase Bank, N.A., and our affiliates are not eligible.
- Chase reserves the right to withdraw this offer at any time without notice.
- Bonuses are considered interest and may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
- Account Closing: If the checking account is closed by the customer or Chase within six months after offer enrollment, the bank will deduct the bonus amount for that account at closing.
Huntington Bank: Earn Up to $1,000 Cash Back Bonus for Opening a New Account
Business Checking 100 Terms | Features | |
Required Opening Deposit | None |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 100 per month; then 50 cents per transaction | |
ACH Fees | None | |
Monthly Fee | None | |
ATM Fees | Free in-network; $3.50 per transaction out-of-network | |
Cash Deposited | $5,000 free per month; then 30 cents per $100 per month | |
APY | N/A | |
Huntington offers one of the best business checking account promotions. You can view Huntington Bank’s business checking account promotions, which let you choose between business checking account offers to earn up to $1,000 cash back depending on which account you open and how much you deposit.
Click on the account type below to see how to earn bonuses from Huntington Bank.
- “New money” is defined as money that is not currently on deposit in any Huntington account, except maturing business certificates of deposit (CDs).
- Account must maintain an open status for at least 90 days before it is eligible for the bonus payment.
- All new accounts subject to account opening approval and account conversions are not eligible.
- An Early Account Closing Fee will apply to accounts closed within 180 days of opening.
- If you opened a Business Checking 100 account, your $100 bonus will be deposited into your new checking account within 14 days of meeting the above requirements.
- If you opened an Unlimited Business Checking account, your $400 bonus will be deposited into your new checking account within 14 days of meeting the above requirements.
- If you opened an Unlimited Plus Business Checking account, your $1,000 bonus will be deposited into your new checking account within 14 days of meeting the above requirements.
- Your business checking account must remain in open status to receive the bonus.
- This offer is only available to new business checking customers.
- All existing Huntington business checking customers, including those with business checking accounts closed within the last six months, are not eligible. Public fund/government banking dollars and brokers are not eligible for this offer.
- Cash bonus does not count toward the deposit requirement.
- This offer cannot be used in combination with any other offer.
- For tax purposes, the bonus will be reported on IRS Form 1099-INT for the year in which you receive your bonus.
- Huntington reserves the right to limit an individual business owner with multiple businesses to one account-related gift incentive per rolling 12-month period across all deposit account relationships.
Truist: Earn $300 Cash Back Bonus for Opening a New Account
Simple Business Checking Terms | Features | |
Required Opening Deposit | $100 |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 50 total combined transactions per month; 50 cents each after | |
ACH Fees | None | |
Monthly Fee | None | |
ATM Fees | Free in-network; $3 out-of-network domestically; $5 internationally | |
Cash Deposited | $2,000 free per month; three-10ths of a cent per $1 per statement cycle after | |
APY | N/A | |
Truist is offering $300 cash back for new account openings with qualifying actions through March 28, 2024. To earn the cash back, follow the steps below:
- Step 1: Be a new Small Business Checking client.
- Step 2: Open a new Simple Business Checking or Dynamic Business Checking account from January 3, 2024, and March 28, 2024, using promo code SB24Q1CHECKING.
- Step 3: Make cumulative qualifying deposits of $1,500 or more into your new account within 30 days of account opening.
The reward will be credited to the new business checking account up to four weeks after the qualification requirements have been verified.
To be eligible to participate in the promotion:
- You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a SunTrust now Truist, or Truist business checking account within 180 days prior to the promotion start date (on or after July 7, 2023), with the same taxpayer identification number (TIN), including but not limited to an employer identification number (EIN).
- The business account holder must be 18 years or older at time of account opening.
- The account holder cannot be a nonresident alien.
- The business must be registered within the US with the business’s physical street address located in the following states: Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia plus Washington, D.C., and have a valid US TIN or EIN.
- The qualifying checking account must be opened in a Truist branch in one of the above-listed states or online.
Reward processing:
- The reward will be credited to the new business checking account up to four weeks after the qualification requirements have been verified. When the cash reward is deposited, it will appear in your new business checking account monthly statement as Reward SB24Q1CHECKING.
- This offer is only applicable once per client.
- If multiple accounts are opened with the same owners/signers and Truist reasonably believes that the legal entities associated with such accounts engage in substantially similar or limited business activities, Truist may limit the number of accounts that are eligible for the promotional offer to five.
- Truist may report the value of any reward received through any offer to the IRS as required by law.
- Any applicable taxes are the responsibility of the recipient.
Reward forfeiture:
- The new business checking account must remain open and in good standing with a balance of at least 1 cent until the reward is processed to receive the reward.
Reward forfeiture will occur if:
- The business checking account is changed to an account type not included in this client offer
- The business checking account is closed prior to the reward being processed
- The new business checking account has a negative available balance at the time of qualification validation
Truist reserves the right to deduct the reward amount from the business checking account at the time of closing if the new business checking account is closed by the client or Truist within 180 days after opening.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. All promotional payouts will be processed no later than Sept. 30, 2024, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Other terms:
- Fees may reduce your earnings.
- The offer is nontransferable and may not be combined with any other offers.
- This offer is subject to change and may be discontinued at any time.
PNC Bank: Earn up to $1,000 Cash Back Bonus for Opening New Account
Business Checking Terms | Features | |
Required Opening Deposit | $100 |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 150 per month, then 50 cents per transaction | |
ACH Fees | None | |
Monthly Fee | $10; waivable | |
ATM Fees | Free in-network, $3 per transaction out-of-network; 2 reimbursements/month | |
Cash Deposited | $5,000 free per month; then 25 cents per $100 per statement cycle | |
APY | N/A | |
You can earn a $200, $500, or $1,000 cash back bonus when opening a new account with PNC Bank. The amount of the bonus depends on which account you open, and the bonus is subject to qualifying actions. The account must be opened by March 31, 2024, to qualify. The offer is only open to businesses with annual revenue of less than $5 million.
Click the tab below to see how to earn each bonus.
You may earn a $200 reward if you open a new PNC Business Checking or PNC Business Checking Plus account:
- To qualify for the reward, the new checking account must be opened between Jan. 1, 2024, and March 31, 2024, and the following conditions must be met: average ledger balance of $5,000 must be maintained in your new checking account for each of the first three statement cycles and at least 20 total qualifying PNC Visa® Business Debit Card transactions must be made within the first three statement cycles. Your new checking account must be open for you to receive the reward, which will be credited to the eligible account within 90 days after all conditions have been met and will be identified as “Credits NEW BUS BONUS” on your monthly statement.
- Only business checking accounts with statements that cycle monthly are eligible for this offer. Business checking accounts that receive statements daily, weekly, or quarterly are ineligible.
- Already established, converted, or repurposed PNC checking or savings accounts are not eligible. If you change your account type after opening, the account type that you are in on the last business day of the month in which you opened your account will determine your offer eligibility, terms, and corresponding reward amount, if applicable.
- Average ledger balance is defined as the average daily total within your business checking account at the end of your statement cycle. A qualifying debit card transaction is defined as any debit card purchase made at the point of sale (POS) using your signature or PIN; or a purchase made electronically or online using your debit card number, including recurring payments. Any combination of qualifying PNC Visa® Business Debit Card transactions is acceptable but must equal 20 within the first three statement cycles.
- New account will not be eligible for offer if any signer has signing authority on an existing PNC Bank business checking account or has closed an account within the past 90 days or has been paid a promotional premium in the past 12 months. If multiple accounts are opened with the same signers, only one account will be eligible for the premium. For this offer, signing authority will be defined by the customer names and Social Security numbers registered on the account.
- Offer may be extended, modified, or discontinued at any time. The value of the reward may be reported on Internal Revenue Service (IRS) Form 1099 and may be considered taxable income to you.
- Please consult your tax advisor regarding your specific situation.
- Offer only available to businesses with an annual revenue of less than $5 million.
You may earn a $500 or $1,000 reward if you open a new PNC Treasury Enterprise Plan or Analysis Business Checking account.
- To receive $500: Open a new PNC Treasury Enterprise Plan (including Analysis Business Checking) account. To qualify for the reward, the new checking account must be opened between Jan 1, 2024, and March 31, 2024, and an average ledger balance of $30,000 to $99,999 must be maintained in your new checking account for each of the first three statement cycles.
- To receive $1,000: Open a new PNC Treasury Enterprise Plan (including Analysis Business Checking) account. To qualify for the reward, the new checking account must be opened between Jan 1, 2024, and March 31, 2024, and an average ledger balance of $100,000 or more must be maintained in your new checking account for each of the first three statement cycles.
- These offers are mutually exclusive. If you qualify for a reward, you will only receive the highest reward you are eligible for.
- Your new checking account must be open for you to receive the reward, which will be credited to the eligible account within 90 days after all conditions have been met and will be identified as “Credits NEW BUS BONUS” on your monthly statement.
- Only business checking accounts with statements that cycle monthly are eligible for this offer. Business checking accounts that receive statements daily, weekly, or quarterly are ineligible. Already established, converted, or repurposed PNC checking or savings accounts are not eligible. If you change your account type after opening, the account type that you are in on the last business day of the month in which you opened your account will determine your offer eligibility, terms, and corresponding reward amount, if applicable.
- Average ledger balance is defined as the average daily total within your business checking account at the end of your statement cycle.
- New account will not be eligible for offer if any signer has signing authority on an existing PNC Bank business checking account or has closed an account within the past 90 days or has been paid a promotional premium in the past 12 months. If multiple accounts are opened with the same signers, only one account will be eligible for the premium. For this offer, signing authority will be defined by the customer names and Social Security numbers registered on the account.
- Offer may be extended, modified, or discontinued at any time and may vary by market. The value of the reward may be reported on IRS Form 1099 and may be considered taxable income to you.
- Please consult your tax advisor regarding your specific situation.
Citibank: Earn Up To $2,000 for Opening a New Account
Streamlined Checking Terms | Features | |
Required Opening Deposit | $1 |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 250, then 45 cents per transaction | |
ACH Fees | None | |
Monthly Fee | $15; waivable | |
ATM Fees | $2.50 plus operator fees out-of-network | |
Cash Deposited | Up to $10,000 per month free, then 17 cents for every $100 | |
APY | N/A | |
Citibank has one of the highest business checking account promotions on the market. It is offering a cash back bonus of up to $2,000 for opening a new business bank account and completing qualifying activities.
To earn the bonus, you must follow these steps:
- Step 1: Open a new Citi Business Analyzed, Streamlined, or Flexible Checking Account between Jan. 10, 2024, and July 8, 2024.
- Step 2: Fund your account within 20 days with a qualifying deposit of $5,000 or more in New-to-Citibank funds.
- Step 3: Maintain your balance for 60 consecutive calendar days.
The size of the bonus depends on the qualifying balance level.
Qualifying Balance Level | Cash Bonus |
---|---|
$5,000 | $300 |
$20,000 | $750 |
$100,000 | $1,500 |
$200,000 | $2,000 |
Citibank accounts are not available everywhere, so visit Citibank’s website for information. It is available in New York as it is one of our best business banks in New York. If you are in an area serviced by Citibank, it offers one of the best checking account bonuses on the market.
This Small Business Checking Account Offer (the “Citi Checking Offer”) refers to the limited-time offer (described below). The Citi Checking Offer is subject to the Terms and Conditions below:
Your new Citibank business checking account must be open and in good standing at the time any Cash Bonus earned as part of the Citi Checking Offer is credited to you. Citibank business checking accounts that are inactive, including accounts with a zero balance for over 45 consecutive days, are subject to closure at Citibank’s sole discretion. The Cash Bonus for which you qualify will be credited to your Citibank business checking account within 90 days from the end of the month in which you complete all Citi Checking Offer requirements. Any Cash Bonus will be deposited directly into your new Citibank business checking account.
QUALIFY
This Offer is available only to new Citibank Retail Business Banking customers and current Citibank Retail Business Banking customers who do not currently have, and at any time during the 180 days immediately preceding the date on which they open a new CitiBusiness® (Analyzed), Streamlined or Flexible Checking Account did not have, a Citibank business checking account.
Tax Requirements: US persons must furnish a valid IRS Form W-9 (Request for Taxpayer Identification Number and Certification). Foreign persons must furnish a valid IRS Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals)) or a valid IRS Form W-8BEN-E (Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)). Accounts subject to back-up withholding are ineligible for the Citi Checking Offer.
REQUIRED ACTIVITIES TO QUALIFY:
ENROLL
To qualify for the Cash Bonus that corresponds to one of the Qualifying Balance Levels set forth in the chart below:
Open an eligible business checking account between Jan. 10, 2024, through July 8, 2024.
Eligible business checking accounts are CitiBusiness® (Analyzed), Streamlined, or Flexible Checking Account.
Ask a Citibank Business Specialist to enroll you in the Citi Checking Offer.
FUND
Make one or more deposits in New-to-Citibank Funds within the 20-calendar day period immediately following the date your account is opened.
Funds can be deposited in your new business checking account, or your new business checking account and a new or existing CitiBusiness® Insured Money Market Account (“IMMA”) that in the aggregate meet one of the Qualifying Balance Levels.
On the 20th day after your account is opened, we will check your “On Deposit” balance in New-to-Citibank Funds which will determine the maximum Cash Bonus you might earn.
If your 20th day falls on a Non-Business Day, we will count the first Business Day after your 20th day.
MAINTAIN
Starting on the 21st day, maintain at least $5,000 in your new, eligible business checking account, or your new, eligible business checking account and a new or existing IMMA, for 60 consecutive calendar days (“Maintenance Period”) after a Qualifying Balance Level is met during the 20-calendar day funding period to remain eligible for the Cash Bonus.
Your Cash Bonus will be based upon the highest Qualifying Balance Level in the new business checking account, or the new business checking account and an IMMAs, that is maintained for the entire Maintenance Period.
Please understand if your balance falls into a lower Qualifying Balance Level for even one day during the Maintenance Period, your Cash Bonus will change (see chart below).
For example, if your balance on the 30th Day is $200,000, the maximum Cash Bonus you could earn is $2,000. If your balance is $100,000 on day 45, however, the maximum Cash Bonus you can earn changes to $1,500.
1. Funds must be deposited and “available”, as such term is defined in the Bank’s Standard Funds Availability Policy as set forth in the CitiBusiness® Client Manual, within such 20-day period.
2. “New-to-Citibank Funds” are funds deposited from external accounts or payees other than Citibank, N.A., and must be deposited using domestic ACH transfer, Direct Deposit, checks drawn on banks other than Citibank, N.A., or wire transfer (fees may apply). Cash deposits, Citi Global Transfers, international ACH transfers, and person-to-person transfer services, such as Apple Pay®, PayPal®, Venmo, and Zelle® do not qualify as New-to-Citibank Funds.
3. The Qualifying Balance Level may be maintained in the new business checking account and any new or existing IMMAs, provided the tax identification number (TIN) for those accounts is identical.
Important Tax Information: The Cash Bonus will be reported to the IRS as interest, in the year received, as required by applicable law. Bonus payments received by US persons will be reported on IRS Form 1099-INT for the year received. Bonus payments received by foreign persons will be reported on IRS Form 1042-S for the year received. Customer is responsible for any applicable taxes and consulting a tax advisor. Citi is not a tax advisor.
The Citi Checking Offer expires July 8, 2024, is not transferable and cannot be combined with any other Retail Business Banking checking offer. Speak to a Citibank Business Specialist for details. Limit of one Cash Bonus per customer per Citi Checking Offer. Each independently operated business client with its own unique Tax ID Number is a separate customer. This Citi Checking Offer may be modified or withdrawn at any time prior to your opening the related checking account without notice.
Axos Bank: Earn Up To $400 for Signing Up for a New Account
Business Checking Terms | Features | |
Required Opening Deposit | None |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | None; up to 60 items per month in remote deposit anywhere | |
ACH Fees | None | |
Monthly Fee | None | |
ATM Fees | Unlimited domestic ATM fee reimbursement | |
Cash Deposited | Cash deposits via MoneyPass and Allpoint networks | |
APY | N/A | |
Axos Bank is offering up to a $400 bonus for signing up for a new account and meeting account requirements. To earn a bonus, you must open a new account by June 30 2024, use promo code NEW400, and meet the following requirements.
$75 will be earned for each statement cycle, up to $300, if you meet these three requirements:
- The average daily balance in your Basic Business Checking account or Business Interest Checking Account is between $25,000 and $49,999.99, and
- You have completed 10 point-of-sale transactions per month using your Small Business Checking Visa Debit Card for signature-based purchases with a minimum of $3 per transaction, and
- You have bill pay set up and connected to your Basic Business Checking Account or Business Interest Checking account. The bill pay transaction minimum is $10.
$100 will be earned for each statement cycle, up to $400, if you meet these three requirements:
- The average daily balance in your Basic Business Checking account or Business Interest Checking Account is greater than $50,000, and
- You have completed 10 point-of-sale transactions per month using your Small Business Checking Visa Debit Card for signature-based purchases with a minimum of $3 per transaction, and
- You have bill pay set up and connected to your Basic Business Checking Account or Business Interest Checking account. The bill pay transaction minimum is $10.
To be eligible to earn all or a portion of the cash incentive as part of the promotional offer “NEW400,” an application for a Basic Business Checking account or a Business Interest Checking account must be submitted between Sept. 30, 2023, at midnight Pacific time and June 30, 2024, at 11:59 p.m. PT:
- Bonus will be deposited into your new account within 10 business days of your statement cycle date.
- Account must remain open for 120 days or an early closure fee of $200 may apply.
- Terms and conditions are subject to change without notice.
- Bonus may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor.
- Bank reserves the right to limit each customer to one new account-related gift incentive per calendar year
- You must be approved for your new Small Business Checking account and fund it within 60 days of account opening.
- Small Business Checking bonus up to $400: You must be approved for your new Basic Business Checking or Business Interest Checking account and fund it within 30 days of account opening. An incentive of up to $400 can be earned during the first five statement cycles. A statement cycle is a calendar month consisting of at least one day your account was open during that month. You can earn a maximum of four payouts during the five statement cycles, and the incentive will be deposited into the qualifying account within 10 business days following the end of the statement cycle in which the balance requirement was met.
California Bank & Trust: Earn up to $2,500 Cash Back Bonus for Opening a New Business Checking Account
Business Inspire Checking Terms | Features | |
Required Opening Deposit | $50 |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 50, then 45 cents per transaction | |
ACH Fees | None | |
Monthly Fee | $10; waivable | |
ATM Fees | Free at CB&T & Zions Bancorporation N.A. ATMs; $2.50 out-of-network | |
Cash Deposited | $3,000 per month free, then 20 cents per $100 | |
APY | N/A | |
You can earn up to a $2,500 cash back bonus with California Bank & Trust by opening a new business checking account and completing qualifying activities. The bank doesn’t make it clear on its website how to earn the higher bonus but it is likely tied to either a higher-tier account or a higher account balance. Contact the bank before opening an account to get the full details.
To earn up to a $2,500 cash back bonus, you should:
- Be a new CB&T customer
- Open a new CB&T business checking account between Jan. 1, 2024, and April 30, 2024
- Have at least an average ledger/current balance in the third full calendar month after opening of $10,000
- Perform at least 10 incoming or outgoing transactions, which can include ACH credit, bill pay, checks paid, debit card, and wire transfers.
If you complete these activities, the bonus will be deposited into your account within 60 days of completion.
- Offer available to new Business Inspire, Business Growth, Business Connect, Community Checking, and Business Interest checking accounts opened with new money between Jan. 1, 2024, and April 30, 2024.
- Minimum opening deposit of $50 required.
- To receive the cash bonus, the account must be a Business Inspire, Business Growth, Business Connect, Community Checking, or Business Interest checking account and have at least an average ledger/current balance in the third full calendar month after account opening of $10,000 and perform 10 of the following transaction types by completion of the third full calendar month after the account opening: ACH Credit, Bill Pay, Checks Paid, Debit Card, and Wires (Incoming/Outgoing). There may be a fee associated with these transactions.
- Bonus of $250 to $2,500 will be deposited into open checking account within 60 days of completion of qualifications and is limited to one bonus payment per customer TIN.
- All tax liabilities, if any, associated with the benefits are the responsibility of the recipient, and the recipient may receive an IRS tax reporting statement that includes the approximate retail value of the benefits. If tax documentation including a valid W-9 or W-8 is not completed, the prize may be forfeited.
- Offer is not available to existing CB&T business checking customers, public agencies, political action committees (PACs), fiduciary accounts, or campaign accounts.
- Existing/Returning customers must have a period of 12 months without an open CB&T business checking account.
- Offer subject to change at any time.
- Please refer to the Deposit Account Agreement, Account Disclosure, Business Banking Deposit Rate Sheet, and the Service Charge Information Schedule or speak with a banker for more details.
M&T Bank: Get up to $1,000 By Opening a New Business Checking & Merchant Services Account
Simple Checking for Business Terms | Features | |
Required Opening Deposit | Not stated |
|
Required Balance Minimum | None | |
Transaction Limit Before Fees | 100, then $1 per transaction | |
Monthly Fees | $10; waivable | |
Domestic Wire Fees | Incoming: $16 | |
ATM Fees | $3 at non-M&T Bank ATMs | |
Cash Deposit Fees | Up to $5,000 per month free, 25 cents per $100 after that | |
APY | None | |
Businesses can earn up to $1,000 in cash back bonuses and a bonus interest rate on M&T Bank’s Business Savings with the latest promotional offer from the bank.
There are three parts to this bonus from M&T Bank. There are two different expiration dates for the three promotions:
- Expires March 29, 2024:
- M&T Business Checking cash back bonus
- M&T Market Advantage business savings bonus rate
2. Expires March 31, 2024:
- M&T Merchant Services cash back bonus
Click the tabs below to see how you can earn each part of the bonus.
Bonus Rate Fine Print
- Introductory annual interest rate of 4.50% is available for the first three months after the account is opened when you open a new M&T Market Advantage for Business account by March 29, 2024, with a minimum opening deposit of $2,500 not already on deposit with M&T Bank.
- This rate will apply to all funds in the account if the Collected Balance at the end of each day is at least $1,000. No interest will be paid for a day on which the Collected Balance is less than $1,000 as of the end of that day.
- This is a variable-rate account and rates are accurate as of July 27, 2023. After the introductory period, the annual interest rate will be set by M&T at its discretion, may change daily, and will not be tied to any index, formula, or schedule.
- A customer is eligible for only one introductory interest rate offer, regardless of the number of accounts opened or the titling on those accounts, in any rolling 12-month period. Fees may reduce earnings. For more information about applicable fees and terms, refer to the Commercial Deposit Account Fee Schedule or visit your local branch.
Cash Bonus Fine Print
- You can receive a potential cash bonus of $1,000, which is the combined cash bonus total for an M&T Tailored Business Checking cash bonus ($500) and Merchant Services cash bonus for processing over $100,000 in the first two full months of opening a new Merchant Services account ($500).
- M&T Bank will credit a $500 bonus (the “Checking Bonus”) to a new M&T Tailored Business Checking account opened between Jan. 1, 2024, and March 29, 2024, if the Average Ledger Balance in the account is at least $5,000 in the third full calendar month after the account was opened.
- A promo code is required at account opening to be eligible for the offer. If the requirements are met and the Account remains open, the Checking Bonus will be credited to the Account within 45 days after the end of the third full calendar month after the account was opened.
- The Checking Bonus is reportable for tax purposes and is not available to employees of M&T Bank or any of its affiliates.
- The Checking Bonus is not available to customers who have had a non-personal M&T checking account within the previous 90 days of opening an M&T Tailored Business Checking account.
- Only one Checking Bonus will be awarded per customer regardless of the number of new M&T Tailored Business Checking accounts opened.
- A $50 Account Closure Fee applies if the account is closed within the time period referenced in the Commercial Deposit Account Fee Schedule.
- There is no monthly maintenance charge for three months. After that, standard rates apply if requirements are not met. Requirements to waive the Monthly Maintenance Charge are based on account type and are fully listed on the business checking grid. Requirements may be met, but other transaction and service fees, including overdraft fees, may apply.
- This offer applies only to merchants who do not currently have a merchant account with M&T Bank Merchant Services and who did not collect from a like offer within the past 12 months.
- Merchants must sign a one-, two-, or three-year contract to qualify and use an M&T Business Checking account as their Merchant Services processing account.
- The new merchant account must be opened and process a transaction by March 31, 2024.
- Processing volume for the first two full months will determine the cash bonus amount.
- Total processing volume for the two full months that is equal to or greater than $100,000 will earn $500.
- Processing volume for the first two full months that is less than $100,000 but more than a minimum of $1,000 will earn $250.
- The bonus will be credited to the M&T Merchant processing account within five months of when the merchant account was opened. For example, if an M&T Merchant Services account is opened in January, the processing volume from February and March will be used to determine the cash bonus, and that bonus will be credited to the Merchant processing account by the end of May 2024.
- A promo code is required at account opening to be eligible for the offer. To the extent required by law, M&T Bank Merchant Services will report the value of the offer to the IRS. Any applicable taxes are the responsibility of the account holder. Certain merchant restrictions and eligibility requirements apply. Offer subject to change without notice.
Frequently Asked Questions (FAQs)
The bank that gives the best account opening bonus is Citibank. If you meet certain qualifications, you can get up to $2,000 cash back for opening a business checking account.
U.S. Bank offers the best small business checking account on the market with no monthly fees and scalable banking features that can grow with your business.
Chase is the overall best business bank for small business, thanks to its excellent business checking accounts, full-service banking, outstanding lending products, merchant services, and investing advice.
Bottom Line
All the providers on this list offer great benefits for opening a business bank account. Before you choose an institution, check out our list of the best small business checking accounts and compare account offerings. Choose one that not only provides a great account opening bonus but also has benefits that can help your business in the long term. Be sure to check out this article regularly for the latest best business bank account promotions and offers.