US Bank is running a promotion for new business checking accounts that offers a $400 or $900 bonus with very simple requirements. This deal is available in US Bank states (or US Bank cardholders) and requires you to make one or more deposits totaling either $5,000 or $30,000 within 30 days of account opening, and then deposit those funds into your account. Must remain in the account for up to 60 days after opening. The bonus amount is determined by the total deposit amount. You get $300 on $5,000. $30,000 gives you $800.
It looks like US Bank will once again allow up to $3,000 in credit card funding for new accounts, so use it if you can get it.
transaction
US Bank is offering a bonus of between $400 and $900 when you open a US Bank Business checking account using promo code Q4AFL24 and complete the following requirements within 30 days of opening. To get the $400 bonus, open a Silver or Business Essentials checking account, or make additional deposits totaling at least $5,000 within 30 days and maintain a balance of $900 for 60 days (both from account opening). To earn the dollar bonus, open a Platinum Checking Account, make at least one deposit totaling $30,000 or more within 30 days, and maintain a balance for 60 days – both from account opening until 2024. January 15th
Direct link to promotion
terms of service
If you want to open a US Bank Silver, Platinum, or Business Essentials (Available in Arizona, Nevada, Colorado, New Mexico, Ohio, Indiana, Kentucky, and Tennessee) Business Checking Account, use the promo code Q4AFL24 must be used. Business Checking bonuses are limited to one (1) per business. A minimum deposit of $100 is required to open one of the referenced accounts. Earn a $400 Business Checking bonus when you open a new US Bank Silver Business Checking or Business Essentials (not available in all markets) account between October 1, 2024 and January 15, 2025. You must deposit at least $5,000 in new funds within 30 days of account opening and maintain a balance of at least $5,000 every day thereafter until 60 days after account opening. Earn a $900 Business Checking bonus when you open a new US Bank Platinum Business Checking account between October 1, 2024 and January 15, 2025. You must deposit at least $30,000 in new funds within 30 days of account opening and maintain a balance of at least $30,000 every day thereafter until 60 days after account opening. New money is considered new money to US Bank. Funds must be transferred from a non-U.S. bank and cannot be transferred from another U.S. bank product or U.S. bank affiliate.
simple idea
This is a very simple requirement: make deposits totaling $5,000 or $30,000 within 30 days of account opening, keep the money in the account for 60 days after account opening, and sign up for online banking. is a simple checking account bonus. that’s it.
You can open an account with as little as $100, so you don’t have to deposit the rest until days 25-30. After 60 days (from account opening), you must maintain a positive balance until the bonus is credited (US Bank gives you up to 45 days to do so). Therefore, there is no need to leave the full amount in your account for more than 30-35 days.
There are three different types of business checks. Get a $400 bonus when you sign up for Silver, which has no maintenance fees. This account is limited to 125 trades per month and each trade has a $0.50 fee, so why would you make more than 125 trades per month?
You will need a Platinum checking account to receive the $900 bonus. Previously you could get higher tiers with Silver, but now you have to open an upper tier account, making maintenance costs more of an issue. $30 per month unless you maintain an average minimum balance of $25,000. That’s not a big deal for a month where you keep $30,000 in your account, but you still have the first month (before you deposit the big money) and the last month where you’re waiting for your bonus to be deposited.
Keeping cash means saving ~$100 per month for $30 in maintenance fees…which seems like a bad deal to me. You’d probably be better off withdrawing your money and knowing that you’ll be charged up to $60 in fees, bringing your total bonus closer to $715 ($900 – about $60 in fees and about $125 in interest on the money you pledged per month).
US Bank bonuses are generally limited to states where US Bank has branches (which are widespread…see locations here). If you live in a state without a branch, you could previously avoid this requirement by first opening a U.S. Bank brokerage account and then opening a checking account. Based on previous comments, it appears that US Bank has not closed the loophole, but now allows people with a US Bank credit card to open a checking account even if they are outside of US Bank’s jurisdiction .
US Bank’s cancellation rules are pretty strict, so if you’ve had a US Bank account or received a bonus in the past year, it’s best to stay away from it. If not, this is an easy way to make money.
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