When I started my business, I wasn’t very tactical about picking a bank. I just chose one.
In the years since, I’ve realized there is a big difference among banks. They will compete hard for your business, to the tune of hundreds of dollars, and if all else is equal… you might as well take the cash!
Before we get into the different business bank account promotions, it’s important to understand your business needs first. Each business is different but you will need features in an account that will potentially cost money. You want to compare apples to apples when it comes to these accounts because the bonus money is a very small piece.
For example, if you have a cash-heavy business that will require you to make large cash deposits – different accounts charge different amounts. A bank account that will take $20,000 in cash deposits each statement cycle for free will be cheaper than one that takes $10,000 and charges you fees on any amount over it. If you don’t deal with a lot of cash but have many transactions, that’s a consideration.
Be sure to compare the other factors first, before thinking about the money. It’s silly to take a $200 promotion only to pay it back in fees over the next six months or a year.
With that caveat out of the way, let’s see these business checking account promotions!
These are promotions for businesses. If you do not have a business, we list the best promotional offers for personal checking account here.
Table of Contents
- Chase Business Complete Banking® — $300
- BMO Business Checking — up to $1,000
- U.S. Bank Business Checking – up to $800
- Axos Basic Business — $400
- Truist Business Checking – $400
- PNC Business Checking – $200 or $500
- American Express Business Checking – 30,000 Membership Rewards Points
- Citi® Small Business Checking Account – up to $2,000
- Bank of America Business Banking – $200
- M&T Bank – up to $1,500
- Live Oak Business Savings Account – $300
- Expired Offers
Chase Business Complete Banking® — $300
If new Chase checking customers open a Chase Business Complete Banking® and satisfy some qualifying activities, Chase will give you $300 when you open a new account.
To earn $300:
- Deposit $2,000 in NEW money within 30 business days of account opening,
- Maintain a $2,000 balance for 60 days,
- Complete five qualifying transactions within 90 days – debit card purchases, Chase QuickDepositSM, ACH (credits), and wires (credits and debits)
There is a Monthly Service Fee that you can get waived if you meet any of the following criteria each statement period:
- $2,000 minimum daily balance
- $2,000 in net purchases on your Chase Ink® Business Card(s)
- $2,000 in deposits from Chase QuickAccept® or other eligible Chase Payment Solutions transactions
- Link a Chase Private Client Checking℠ account
- Provide qualifying proof of military status
Check out our full review of Chase Business Complete Banking.
(Offer expires 4/18/204)
BMO Business Checking — up to $1,000
Open any BMO Business Checking and receive a bonus of up to $1,000 with qualifying activities.
You’ll earn $300 if you have 10 electronic transactions post to the account within the first 90 days and have an average collected balance of between $4,000 and $9,999 for 90 days.
You can earn $500 if you have 10 electronic transactions in the first 90 days and have an average collected balance of between $10,000 and $29,999 for 90 days.
You can earn $1,000 if you have 10 electronic transactions in the first 90 days and have an average collected balance of over $30,000 for 90 days.
BMO has four business checking accounts:
- BMO Simple Business Checking: Each month you’ll get 100 free transactions and up to $2,000 in cash deposits. There is a monthly fee of $10 per month unless you have an average collected balance of at least $100 per month.
- BMO Premium Business Checking: Each month you’ll get 200 free transactions and up to $5,000 in cash deposits. There is a monthly fee of $15 per month unless you have an average collected balance of at least $1,500 per month.
- BMO Elite Business Checking: Each month you’ll get 500 free transactions and up to $20,000 in cash deposits. There is a monthly fee of $25 per month unless you have an average collected balance of at least $10,000 per month or have a combined monthly business balance of $25,000.
- BMO Digital Business Checking: You’ll unlimited free ACH and incoming wire transactions and up to $1,000 in cash deposits. There is a monthly fee of $10 per month unless you have an average collected balance of at least $500 per month.
(Offer expires 4/30/2024)
U.S. Bank Business Checking – up to $800
If you run a business where you need to accept payments, U.S. Bank has a up to $800 bonus offer when you open a Silver, Gold, or Platinum Business Checking Account with the U.S. Bank promo code Q1AFL24 and:
- To get $350, Make a deposit of at least $5,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.
- To get $800, Make a deposit of at least $25,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.
Available in the United States.
Member FDIC.
(Offer expires 4/23/2024)
Axos Basic Business — $400
Axos Bank has a $400 welcome bonus offer on their business checking account.
Just open an account and use the promo code NEW400 and have an average daily balance greater than $50,000 in the first three months after account opening to get $100 each.
There are no monthly maintenance fees, no minimum balance requirements, and no minimum opening deposit. You get your first set of 50 checks free and you can deposit up to 60 items per month for Remote Deposit Anywhere. Also, unlimited item processing ((debits, credits, or deposited items).
Learn more about Axos Basic Business
(Offer expires 6/30/2024)
Truist Business Checking – $400
Truist Bank has a $400 checking bonus when you open a new Truist Business Checking Account.
Open a Simple Business Checking or Dynamic Business Checking account online or inside a branch with the promo code SB24Q2CHECKING then – make qualifying deposits of $1,500+ into your new account within 30 days of account opening.
Check the terms of each account type for the features that meet your business needs. For example, the Truist Simple Business Checking has no monthly maintenance fee and includes 50 transactions and $2,000 cash processing included.
The business must have a physical address in AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
(Offer expires 6/27/2024)
PNC Business Checking – $200 or $500
Open a PNC Business Checking or Business Checking Plus account and you can get a $200 cash reward. You only need $100 to open an account and:
- Maintain a minimum average cycle balance of $5,000 for each of the first three statement cycles,
- Make at least 20 total qualifying PNC Bank Visa Debit Card transactions within the first three statement cycles.
There is a $10 monthly maintenance fee that you can avoid if you have $500 average monthly collected balance, use a linked PNC business credit card to make $500 in purchases, or maintain a PNC Merchant Services account and process at least $500 in qualifying monthly processing deposits. It’s pretty easy.
If you have higher needs, the Treasury Enterprise Plan and Analysis Business Checking accounts will give you a $500 cash reward but they both require a minimum balance of $30,000 for the first three statement cycles.
(Offer expires 6/30/2024)
American Express Business Checking – 30,000 Membership Rewards Points
American Express is offering a bonus on their American Express Business Checking account when you:
- Deposit $5,000 within 30 days of opening your account, AND
- Maintain an average account balance of $5,000 for 60 days, AND
- Make 5 or more qualifying transactions within 60 days of opening your account.
Qualifying transactions include mobile deposits, and electronic/online transactions including ACH, Wire, and Bill Payments.
This account also offers 1.30% APY on balances up to $500,000 and has no monthly maintenance fees.
Citi® Small Business Checking Account – up to $2,000
I received a mailer recently that shared a promotion for a new small business checking account offer from Citi®. Open a CitiBusiness (Analyzed), Streamlined, or Flexible Checking Account and deposit money within 30 calendar days following the open.
The bonus is based on how much in new-to-Citi funds you deposit:
- Deposit $5,000 to $19,999 – get $300 bonus
- Deposit $20,000 to $99,999 – get $750 bonus
- Deposit $100,000 to $199,999 – get $1,500 bonus
- Deposit $200,000 or more – get $2,000 bonus
Maintain that balance level for 60 consecutive days and you will get the bonus. Only those customers that haven’t had a Citi® business checking account within the last 180 days will qualify. Bonus will be issued a 1099-INT.
There is no offer code, just go to the branch and ask them about it or call 877-528-0990. Not available in all locations.
(Offer expires 7/8/2024)
Bank of America Business Banking – $200
Bank of America will give you a large cash bonus when you make large qualifying deposits within 30 days of opening the checking account and then maintaining the average balance during a 60-ish day maintenance period. These must be funds that are not currently or previously been held at an account at Bank of America or Merrill.
The $200 bonus offer is simple –
- To get $350, Make a deposit of at least $5,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.
- To get $800, Make a deposit of at least $25,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.
You can open either a Business Advantage Fundamentals™ Banking or Business Advantage Relationship Banking account for this bonus. Both have a monthly fee that can be avoided.
(Offer expires 6/30/2024)
M&T Bank – up to $1,500
M&T Bank has a bonus offer that is worth up to $1,500.
M&T Bank will give you up to $1,500 when you open a Tailored Business Checking account and have an average ledger balance of at least $100,000 for the 3rd full calendar month after you open the account. If you won’t have that much money, you can still earn a bonus.
If you have between $5,000 and $14,999, you can earn $300. If your balance is between $15,000 and $99,999, you can earn $500.
That’s the only requirement, and your bonus is credited within 45 days of the end of that month.
(Offer expires 6/28/2024)
Live Oak Business Savings Account – $300
Live Oak Bank has a bonus of $300 when you open up a business savings account.
Please see full terms and disclaimers: Earn Up to $300 by Opening Business Savings & Checking | Live Oak Bank
To get $300 for the business savings account:
- Open an account between 4/1/2024 and 4/30/2024,
- Deposit at least $50,000 into your savings account within 15 days of opening the account and no later than 4/30/24. The funds must come from an external bank account, not from funds currently with Live Oak Bank
- Maintain a balance of $50,000 or more for 90 consecutive days
This account has no monthly fees and a competitive interest rate.
(Offer expired 4/30/2024)
Expired Offers
These offers have expired but we keep them on the list so you know what their last offer was.
BB&T Business Checking Account – $200
BB&T, which is now known as Truist Bank after a merger with SunTrust, is still offering a $200 cash bonus on a Business Value 200, Business Value 500, or Commercial Suite Checking account.
To get the bonus, you just need to maintain a balance of $1,500 or more at 30 days from account opening. No other requirements are listed.
The mailer lists a promotion code – BCDFZ – but when you click through the link it’s automatically populated in the “Optional promotional code” field.
M&T Tailored Business Checking Account — up to $300
M&T Bank offers up to $300 when you open an M&T Tailored Business Checking accountafter you follow a few simple qualifications. You get $300 deposited into your checking account once your Average Ledge Balance is at least $5,000 for the third full calendar month after you open the account. (one key restriction, if you have a personal account at M&T Bank then you aren’t eligible)
Wells Fargo – $200
Wells Fargo Business Choice and Platinum Business Checking are offering a $300 bonus if you open an account by the deadline. You will need to submit your information to get an email with a bonus offer code. Take the code to a branch to open one of those accounts and make a deposit ($25), then you just need to:
- Deposit $1,000+ into that new account by Day 10, and,
- Have a $1,000 minimum balance in your account on Day 60, and
- Make 5+ qualifying transactions by Day 60.
Each account has fees you can avoid by meeting certain (fairly easy) requirements. Check the terms for full details.
First Horizon BizEssentials — up to $450
First Horizon has a two-tiered offer of $300 cash for opening a BizEssentials Checking Account plus another $150 Visa gift card when you open a BizEssentials Savings account.
The BizEssentials Checking account offers 250 free transactions a month and the $15 monthly service charge is waived if you have a $5,000 daily balance. The savings account has no monthly fee and there’s an automatic sweep feature that can help you earn a bit of interest.
(Offer expired 3/31/2021)
We will keep this list updated on a regular basis with the best offers out there.
