When I first launched my business, I didn’t give much thought to selecting a bank. I just went with one that seemed fine. Over time, I’ve come to understand that not all banks are created equal. They will go out of their way to get your business, sometimes offering significant incentives. So, if everything else aligns, why not go for the extra cash?
However, before diving into the offers from various business bank accounts, it’s essential to gauge your business requirements. Every business has unique needs. It’s crucial to compare the features and potential costs of accounts. For instance, if your business deals largely in cash, you must be cautious of deposit limits and fees. One account that lets you deposit up to $20,000 cash for free each month might be a better deal than another that allows only $10,000 and imposes charges beyond that.
Always prioritize other account features over promotions. Avoid situations where you accept a $200 bonus only to pay it back in fees within a few months.
That said, let’s dive into some business bank account promotions:
Note: The promotions mentioned here are specifically for businesses. If you’re an individual, we have a separate list for personal checking account promotions.
- Chase Business Complete Checking — $300
- New customers can get $300 by opening an account and completing certain actions.
- To earn the bonus, deposit $2,000 within 30 business days, maintain this balance for 60 days, and execute five specific transactions within 90 days.
- The account does have a Monthly Service Fee, but there are multiple ways to waive it.
- U.S. Bank Business Checking – up to $750
- U.S. Bank is offering up to $750 bonus for businesses that use the promo code AFL23.
- Different bonuses are available based on the deposit amounts and conditions.
- Live Oak Business Savings Account – $300
- Earn $300 with Live Oak Bank when you open a business checking and savings account under certain conditions.
- Axos Basic Business — $200
- Get a $200 welcome bonus with Axos Bank by using the promo code NEWSBC and maintaining certain average daily balances.
- Truist Business Checking – $400
- Truist Bank offers a $400 bonus when you open a specific business checking account and make qualifying deposits.
- PNC Business Checking – $200 or $500
- PNC offers varying rewards based on the type of business account and conditions met.
- American Express Business Checking – 30,000 Membership Rewards Points
- Earn rewards by opening an American Express Business Checking account and meeting specific conditions.
- Citi® Small Business Checking Account – up to $2,000
- Citi has a tiered bonus system based on deposit amounts.
- Bank of America Business Advantage Banking – up to $500 [EXPIRED]
- Bank of America offers bonuses based on qualifying deposits and other conditions.
- M&T Bank – up to $600
- M&T Bank has bonuses that can be earned through specific account actions.
- Live Oak Business Checking – $300 [EXPIRED]
- Live Oak Bank has a promotional offer for first-time business checking customers.
- Fulton Bank Small Business Checking — $300
- Fulton Bank’s bonus requires specific deposit amounts and debit card transactions.
- BMO Harris Business Checking Offers
- BMO Harris provides promotions for their Essential Business Checking and Business Advantage Checking, with conditions based on deposit amounts and transaction types.
Make sure to carefully review each bank’s terms and conditions to ensure the best fit for your business.
