US Bank Business Checking Bonus
There is a new $900 US Bank business checking bonus offer out that is one of the better ones on the market. It is also $100 higher than it was last time around. There is also an option for a $400 bonus if you can't meet the deposit requirements of the higher offer. My wife and I each did the $500 bonus for this account two years ago on our way to earning $5,000 in bank bonuses. It was fairly straightforward and the bonus posted per the terms. Let's look at the details for this offer and see who is eligible for this nice chunk of change.
Update 10/8/24: There is a new increased offer.
US Bank Business Checking Offer Details
Here are the details for the $900 US Bank business checking bonus:
- Earn your $900 Business Checking bonus by opening a new U.S. Bank Platinum Business Checking account between 10/01/2024 and 1/15/2025.
- You must make deposit(s) of at least $30,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $30,000 until the 60th day after account opening.
- Promo code: Q4AFL24
Here are the details for the $400 US Bank business checking bonus:
- Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025.
- You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.
- Promo code: Q4AFL24
Who Is Eligible For This Offer
US Bank is a little bit of a stickler for their checking account offers. They will deny people that don't live somewhat near one of their branches. They make exceptions for this if you already have an existing relationship with them, like carrying a US Bank credit card. We don't have any US Bank branches in our state but we were both able to get the account because we each had a credit card (or two) with US Bank for several years now.
States With A US Bank Branch
- Arizona
- Arkansas
- California
- Colorado
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Minnesota
- Missouri
- Montana
- Nebraska
- Nevada
- New Mexico
- North Carolina
- North Dakota
- Ohio
- Oregon
- South Dakota
- Tennessee
- Texas
- Utah
- Washington
- Wisconsin
- Wyoming
Offer Terms
Here are some notable terms for the offer:
- New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate.
- Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus.
- The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
- Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
- Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes.
Account Fees & Credit Card Funding
If you open a Silver Business Checking account it doesn't appear to have any fee (this may require enrollment in paperless statements). If you open the U.S. Bank Platinum Business Checking account for the $900 bonus you can get the fee waived the following ways:
- An active U.S. Bank Payment Solutions Merchant Account
- Or $25,000 average collected checking balance
- Or $75,000 combined average collected business deposits and outstanding business credit balances
Doctor of Credit reports you should be able to fund the account with a credit card for up to $3,000. Just be sure to set whatever card you use to have a $100 limit etc. on cash advances. This ensures you won't get hit with huge fees if it codes as a cash advance.
Business Checking Offer Link
$900 US Bank Business Checking Bonus: ToP Thoughts
This is a pretty great business checking bonus and instantly one of the better options on the market. The requirement of the Platinum Business Checking account for the higher offer is a downer. While the high end offer used to be a bit lower it allowed you to grab it on the free bank accounts too. The $30,000 in required deposits will likely be too steep for many. If you do go for that one, the required money will keep the account free though. You would miss out on earning interest income on a 4% savings account though, so it may make more sense to eat the $30 fee when waiting for the bonus to post. The $400 option may be the better one for many.
The hardest part is being eligible for an account since US Bank is only in around half of the states in the US. If you already have a credit card account with them then you should be able to get around those rules. Although Florida and New York may be no go states no matter what you have up your sleeves.
Let us know if you grab the offer over in our ToP Facebook Group!
