$750 Bonus With a New US Bank Business Checking Account
US Bank has a new bonus of $750 for business checking accounts. This offer is different from most bank bonuses that we post on the site. Instead of deposits, or direct deposits, it requires you to open a Payment Solutions Merchant Account and process a payment. Let’s look at the details.
To earn the $750 bonus, you must:
- Open a new Gold Business Checking Package and a new Payment Solutions Merchant Account, and
- Accept and settle a Payment Solutions transaction within 30 days of the open date of your Payment Solutions Account.
The bonus will be deposited into your new U.S. Bank Gold Business Checking account within 45 days of settlement verification, as long as the account is open and has a positive balance.
- Offer is available in states with US Bank branches. In NY and FL you must have an existing relationship to open a checking account.
- Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes.
- Offer is not valid if you or any signer on the new accounts have an existing US Bank business checking account, had a US Bank business checking account in the last 12 months, or if you have an existing US Bank Payment Solutions relationship.
- The account has a $20 monthly fee that is waived with:
- U.S. Bank Payment Solutions Merchant Account
- $10,000 average collected checking balance or $25,000 average collected checking balance on interest-bearing option
- $20,000 in combined average collected deposit balances or $50,000 in combined average collected balance on interest-bearing option
- $50,000 combined average collected business deposits and outstanding business credit balances
- $75,000 in combined business deposit and outstanding business credit
This is a great bonus for a bank account. But it does have a requirement to open a new Payment Solutions Merchant account along with your new Gold Business Checking Package. I can’t find any fees for the Payment Solutions account so you probably just pay the transaction fees for the payments you process. It also helps you waive the monthly fee on the Gold Business Checking Package.
The bonus should be available for most readers. You must be in a state that has US Bank branches. In NY and FL you must also have an existing relationship.
HT: Doctor of Credit