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:Â
- 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 DirectionsÂ
Here are the step-by-step directions to earn your $500 US Bank Business Checking signup bonus:Â
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).Â
When you go to open your account, you’ll notice three account options –Â 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.Â
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).Â
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.Â
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.Â
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.Â
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 BonusÂ
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.Â
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.Â
Final ThoughtsÂ
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.Â
If you have any questions, feel free to leave them in the comments below. Hope this information helps!
The link you provided shows an expiration date of 03/31/2023. Is there actually a bonus with a 04/23/2023 expiration?
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.