Earn $500 Bonus with Santander Bank Business Checking Account

Earn $500 Bonus with Santander Bank Business Checking Account

Santander Bank has a new bonus that can earn you $500. While this bonus is limited to select states only, we thought it was worth posting because it has easy requirements. However, this is a business checking account bonus, and you need to visit a branch to open the account.  Let’s see the details.

The Offer

In order to earn this $500 bonus you first need to set up an appointment and visit your local branch. Then you need to:

• Open a new Santander Business Checking or new Santander Business Checking Plus account by 12/31/2024.
• Use promo code BUS500Q324GEN
• Maintain an average daily balance of $5000 or more for the first 90 days to receive a $500 cash bonus.

It’s worth noting that the average daily balance calculation begins on the day of account opening. So even though the full amount does not need to be deposited on day one of account opening, the more days that pass, higher subsequent deposits are needed to meet the average daily balance requirement.

You will receive a cash bonus in your new Santander business checking account within 30 days of meeting all offer requirements. Santander will report the cash bonus to the IRS as interest income for the year in which it is received.

The offer is only available in CT, DE, FL, MA, NH, NJ, NY, PA, RI. It is limited to one cash bonus per business entity as identified by Taxpayer Identification Number (TIN). You also must not currently have nor have had any business checking account with Santander Bank in the last 12 months.

Conclusion

If you are in one of the eligible states, then this is a good offer that doesn’t require a direct deposit.

I usually prefer opening bank accounts online, but I plan to visit a branch for his one. You just need to deposit $5,000 and keep that daily average for 90 days to earn a $500 bonus. That’s a good deal if you a have branch nearby.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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