US Bank Business Checking $500 Signup Bonus - Step By Step Guide

US Bank is currently offering new business customers a $500 signup bonus after opening a new account and meeting certain requirements. Here’s what you need to do to earn your US Bank Business Checking Bank signup bonus:

Open a US Bank Silver Business Checking Account online with promo code Q1AFL23 by April 23, 2023, using this link.
Complete $3,000 in new money deposits within 60 days of account opening and maintain for 60 days.

This offer is limited to customers in the following states: AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY.

This is a fairly easy bank bonus to earn, especially because the US Bank Silver Business Checking Account comes with no monthly fees or minimum balance requirements. The only requirement is that you need to have a business to be eligible for this account. However, any business, including a sole proprietorship, is eligible.

With that said, in this post, we’ll go through the step-by-step directions you can follow to earn your US Bank Business Checking Account signup bonus.

US Bank Business Checking $500 Signup Bonus – Step-By-Step Directions

Here are the step-by-step directions to earn your $500 US Bank Business Checking signup bonus:

1. Open A US Bank Silver Business Checking Account By 4/23/2023. You’ll first need to open a US Bank Business Checking Account using a signup bonus link. Here’s a link you can use with the promo code Q1AFL23 that will qualify you for the $500 signup bonus (be sure that the promo code is in the application when you apply).

When you go to open your account, you’ll notice three account options – Silver, Gold, and Platinum. Unless you have a particular reason to open the other options, I recommend opening the Silver Business Checking Account because it has no fees to worry about. That’ll make things easier to manage.

Note that this signup bonus is scheduled to end on 4/23/2023, so make sure to open your account before that date. These bonuses can always end at the discretion of the bank, so it’s best to open your account as soon as you’re able to do so, just in case the offer gets pulled early.

2. Complete Deposits Totaling $3,000 Or More Within 60 Days Of Account Opening. Once you’ve opened your account using the signup bonus link and the promo code, your next step is to deposit $3,000 or more into your checking account within 60 days of account opening and maintain that balance for at least 60 days.

What makes this bonus particularly good is that, unlike many other bank bonuses, this one doesn’t require a direct deposit. Instead, you only need to deposit $3,000 into your checking account within 60 days. This is good because you won’t have to change direct deposits from your work or figure out other ways to meet a direct deposit requirement.

The easiest way to meet this requirement is to simply fund your account with $3,000 or more at account opening. Otherwise, link an external account and move $3,000 into your US Bank Business Checking Account.

Importantly, there are no monthly fees to worry about with the Silver Business Checking Account, so you can move the money in and then check later.

3. Your $500 Bonus Will Post Within 45 Days Of Deposit Verification. The terms state that once you open the account and meet the direct deposit requirement, your bonus will post within 45 days of deposit verification. In plain terms, this just means that your bonus should post within 45 days of meeting the requirements above (i.e. depositing $3,000 and maintaining the balance for 60 days).

Note that in my experience, US Bank seems to post bonuses once per month, specifically in the month after you meet the requirements. That means, in practice, you usually don’t need to wait 45 days before seeing your bonus. There are no guarantees, of course, but if this bonus works like past bonuses, I suspect that once you meet the bonus requirements, you’ll see the bonus sometime in the next month.

Other Important Things To Know About This Bonus

There are a few minor notes that are worth knowing. First, US Bank makes clear that the funds need to come from outside of a US Bank account. That means you’ll want to make sure to move the $3,000 from an account that is not affiliated with US Bank.

Second, the terms state that this offer is not valid for anyone who has an existing US Bank Business Checking Account or had a US Bank Business checking account in the last 24 months. That means if you’ve had a US Bank business checking account that was open in the last 2 years, you won’t be eligible and will need to wait until after 24 months have passed.

Importantly, however, if you have a US Bank Personal Checking Account or other US Bank products, those do not prevent you from earning this bonus. US Bank treats personal accounts separately from business accounts, so even if you currently have a US Bank Personal Checking Account, you’ll still be eligible for this bonus since it’s a Business Checking Account.

What To Do With Your US Bank Account After Earning Your Bonus

One question many people have is what to do with the checking account after earning the bonus. If the bank account works for you, then it’s fine to use it. This is especially the case with the US Bank Silver Business Checking Account since it has no fees to worry about.

Some banks do require you to keep a new account open for a certain amount of time to keep the bonus (or they’ll charge an early termination fee). US Bank doesn’t charge any fees, so in theory, you can close your account immediately after earning your bonus, if you want. I don’t recommend doing that because ideally, you want to look like a genuine customer.

Final Thoughts

US Bank is a traditional brick-and-mortar bank that regularly offers a signup bonus for new customers – for both their personal and business checking accounts. The good thing is that the Silver Business Checking account from US Bank comes with no monthly fees or minimum balance requirements, which makes it an easy bank account to manage. Remember that sole proprietors and independent contractors are businesses and are eligible for this account. Even if you simply have an idea for a business, that would make you eligible to open this account.

Bank account bonuses are a great way to generate some extra income and if you’re in a position to do so, you should take advantage of them. For more information, I highly recommend reading my Ultimate Guide to Bank Account Bonuses, which is a great resource that will walk you through the major things you should know about bank account bonuses.

If you have any questions, feel free to leave them in the comments below. Hope this information helps!

More Recommended Ebike/Scooters

Check out these other ebikes/scooters I've had the chance to do a review for:

GEN3 Outcross Bike – The GEN3 Outcross is a solid, affordable fat tire ebike that does a good job of doing what I need it to do. It works great for city riding, giving me a smooth ride in all conditions. It’s works really well as a winter ebike since the fat tires give it good traction over snow and ice. Check out my GEN3 Outcross Review.
Himiway Escape Bike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
Espin Sport Bike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.

More Recommended Investing App Bonuses

For additional investing app bonuses, be sure to check out the ones below:

M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with $100 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
Moomoo (5 free stocks) – Moomoo is a free investing app currently offering 5 free stocks (usually worth around $75-$100) if you open an account using a referral link and deposit $2,000. Read my Moomoo referral bonus guide for more information.
Webull (5 free stocks) – Webull also gives you 5 free stock valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free stocks using Webull.
Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.

More Recommended Bank Account Bonuses

If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.

Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
US Bank Business ($500) – This offer is limited to customers in the following states: AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY. This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
SoFi Money ($275) – SoFi Money is a free checking account from SoFi. They’re currently offering a $25 referral bonus if you open a SoFi account with a referral link and deposit $10. You can also make an additional $250 as well if you complete a direct deposit. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.
Fairwinds Credit Union ($100) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
Upgrade ($50) – Upgrade is a free checking account that’s currently offering a $50 referral bonus if you open an account and complete three debit card transactions. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Importantly, this bonus says that it’s now scheduled to end on April 15, 2023. As long as you get your account opened before April 15th, you should be eligible. Here’s a post I wrote with more details: Upgrade $50 Referral Bonus – Step By Step Directions.
Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link.Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
Digital Federal Credit Union ($20) – Digital Federal Credit Union (DCU) is a free, nationwide credit union that I recommend to readers for two reasons. First, DCU has a $20 referral bonus if you open a free DCU checking account with a referral link. Second, DCU has a saving account that gives you 6.17% interest on your first $1,000. Check out my in-depth post on how to set this account up.
Netspend ($20 + 5% Interest Savings Account) – Netspend is a company that provides 5% interest savings accounts. If you sign up using my referral link, you’ll get a $20 signup bonus once you make your first deposit into your Netspend account of $40 or more. That means you get a 5% interest savings account and a free $20 to start! Make sure to check out my in-depth guide on how to set up these accounts.
Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
Varo ($30) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $30 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.

Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $250 if you complete a direct deposit.
US Bank Business. US Bank is currently offering new business customers a $500 signup bonus after opening a new account and meeting certain requirements.
M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
DCU. Digital Federal Credit Union (DCU) is a free, nationwide credit union that I recommend to readers for two reasons. First, DCU has a $20 referral bonus if you open a free DCU checking account with a referral link. Second, DCU has a savings account that gives you 6.17% interest on your first $1,000.
Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.

Feel free to send Kevin a message here.

Comments

Jon says

March 31, 2023 at 4:11 pm

The link you provided shows an expiration date of 03/31/2023. Is there actually a bonus with a 04/23/2023 expiration?

- Financial Panther says
  
  March 31, 2023 at 5:24 pm
  
  So I just checked on this and was told that US Bank is working on updating the page, but that the offer IS still active until April 23rd.