Best Business Bank Account Promos & Offers February 2023

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 is offering two different bonuses: 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, isn’t 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, 2023. 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 is offering a $400 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 (promo code: AF49ZCB) and complete qualifying activities, subject to certain terms and limitations. This offer is valid through Feb. 22, 2023.

To earn the bonus:

• Step 1: Open a new U.S. Bank business checking account
• Step 2: Deposit at least $3,000 in new money within 30 days of account opening and maintain for 60 days
• Step 3: Enroll in the U.S. Bank Mobile App or U.S. Bank online banking within 60 days of account opening
• Step 4: Complete five qualifying transactions (debit card purchases, merchant deposits, ACH credits, wires credits/debits, mobile check deposit, or bill pay) within 60 days of account opening.

• Promo code AF49ZCB 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 your $500 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 between Jan. 10, 2023, and Feb. 22, 2023.
• The checking account must be opened online to qualify.
• You must make new deposit(s) of at least $3,000 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 $3,000 through 60 days after account opening.
• The new money deposit cannot be funds held by U.S. Bank or its affiliates.
• An individual signer on the new checking account must be enrolled in U.S. Bank online banking or the U.S. Bank Mobile App within 60 days of account opening.
• Additionally, you must complete five qualifying transactions (debit card purchases, merchant deposits, ACH credits, wire credits/debits, mobile check deposits, or bill pay) within 60 days of account opening.
• The Business Checking bonus will be deposited into your new U.S. Bank business checking account within 45 days of deposit verification, as long as the account is open and has a positive balance.
• Offer may not be combined with any other business checking account bonus offers.
• Offer isn’t 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 aren’t 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 offers a $300 bonus if you open a new Chase Business Checking Account online or in a branch and complete qualifying activities within the first 90 days.

• Step 1: Open a new Chase Business Checking account online or in 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 5 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 Feb. 16, 2023.

Bonus/account information: Checking offer isn’t available to existing Chase business checking customers, local, state, or federal government entities or agencies, Not-for-profit organizations, political action committees (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. To open a Chase Performance Business Checking® (or Chase Performance Business Checking® with Interest) account or Chase Platinum Business Checking account, please visit a branch. Accounts are subject to approval.
• 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 QuickAccept^SM deposits, Chase QuickDeposit^SM, ACH (Credits), wires (Credits and Debits), and Chase Online^SM 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 aren’t 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 is offering several business banking promotions, letting you 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 deposits (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, aren’t eligible. Public fund/government banking dollars and brokers aren’t eligible for this offer.
• Cash bonus doesn’t 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.

You can earn either a $200 or $500 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, 2023, 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.

• New account won’t 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 name(s) and Social Security number(s) registered on the account.
• Offer may be extended, modified, or discontinued at any time.
• The value of the reward may be reported on IRS Form 1099 and may be considered taxable income to you.
• Consult your tax advisor regarding your specific situation.

Truist is offering $200 cash back for new account openings with qualifying actions from Oct. 31, 2022, to Feb. 28, 2023. 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 through Feb. 28, 2023, using promo code SB22NEW2BIZ6.
• Step 3: Make cumulative qualifying deposits of $1,500 or more into your new account within 30 days of account opening.
• Step 4: Enroll and sign in to Truist Online Banking for Business 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 May 5, 2022), 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 United States with the business’s physical street address located in Washington, D.C. or one of the following states: Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, or West Virginia, 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 SB22NEW2BIZ6.
• 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 Internal Revenue Service, 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 greater than or equal to 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, or
• 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.

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.

Citibank 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. 5, 2023, and July 12, 2023.
• Step 2: Fund your account within 30 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.

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 of New York.

This new Small Business Checking Account Offer (the “Offer”) refers to the limited-time offer (described below) made only to (1) noncustomers of Citibank Retail Business Banking, and (2) 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. The Offer is subject to the Terms and Conditions below:

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 Offer requirements.

Important requirement: Your new Citibank business checking account must be open and in good standing at the time any Cash Bonus that may be earned as part of the Offer is to be 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. Any Cash Bonus will be deposited directly to your new Citibank business checking account. To be eligible for the bonus, US persons must furnish a valid IRS Form W-9 (Request for TIN 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 Beneficial Owner for United States Tax Withholding and Reporting (Entities)). Accounts subject to backup withholding are ineligible.

New Small Business Checking Account Offer: To qualify for the Cash Bonus that corresponds to one of the Qualifying Balance Levels set forth in the table below, (1) from Jan. 5, 2023, through July 12, 2023, open a CitiBusiness® (Analyzed), Streamlined, or Flexible Checking Account; (2) within the 30 calendar day period immediately following account opening, make one or more deposits¹ in New-to-Citibank Funds² to your new business checking account, or your new business checking account and a CitiBusiness® Insured Money Market Account (“IMMA”) that in the aggregate meet one of the Qualifying Balance Levels³; and (3) maintain one of the Qualifying Balance Levels in such account(s) for 60 consecutive calendar days after the Qualifying Balance Level is met during the initial 30 calendar day funding period. 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 IMMA(s), that meets the foregoing requirements.

¹Funds 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 30-day period.

²“New-to-Citibank Funds” are 1) funds deposited from external accounts or payees other than Citibank, N.A. and 2) 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.

³The Qualifying Balance Level may be maintained in the new business checking account and any new or existing IMMA(s) provided the Tax ID Number 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 U.S. 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 Offer expires July 12, 2023, is not transferable and cannot be combined with any other Retail Business Banking checking offer. Speak to your Citibank Business Specialist for details. Limit of one Cash Bonus per customer per Offer. Each independently operated business client with its own unique Tax ID Number is a separate customer. This Offer may be modified or withdrawn at any time prior to your opening the related checking account without notice.

M&T Bank is offering a $500 cash back bonus for new customers who open an M&T Tailored Checking account and perform qualifying activities.

To earn the $500 cash back bonus:

• Step 1: Open a new M&T Tailored Business Checking account between Jan. 1, 2023, and March 31, 2023.
• Step 2: Have at least $5,000 in the average ledger balance in the third full calendar month after the account is opened.

If the account meets those requirements, the bonus will be credited to the account 45 days after the end of the third full calendar month.

• We will credit $500 bonus (the “Checking Bonus”) to a new M&T Tailored Business Checking account opened between 1/1/2023 and 3/31/2023 if the Average Ledger Balance in the account is at least $5,000 in the third full calendar month after the account was opened.
• 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.

Axos Bank is offering bonuses for signing up for a new account and meeting minimum balance requirements. The bonus amount depends on when your business was incorporated and is subject to specific eligibility requirements.

• If your business was incorporated after June 1, 2020, you can get a $200 cash back bonus by using the promo code NEWBIZ200.
• If your business was incorporated before June 1, 2020, you can get a $100 cash back bonus by using the promo code NEWAXOSBIZ.
• Application must be submitted before 11:59 p.m. on March 31, 2023, to qualify.
• In the first two months after account opening, the average daily balance of the account must be at least $2,500 to qualify for the bonus.

• Bonus will be deposited into your new account within five business days of your statement cycle date.
• Account must remain open for 180 days or an early closure fee of $50 may apply.
• Must be new funds to receive bonus credit.
• Terms and conditions 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.

NOTE: “New funds” is defined as funds that did not originate from another Axos Bank brand account