Opening a business requires several different processes, from registering with the state and federal tax agencies to setting up a physical shop (if that’s how you plan to do business in this ecommerce-dominant age).
In many cases, business owners find it easiest to open a checking account specifically for business expenses and profits, as it helps to keep the money separate from any personal funds.
Taking advantage of business checking account promotions can quickly boost your business with several benefits.
Plus, you’re able to mark one more to-do off your list so that you can focus on other, more important things ahead. With the right business checking account, the promotions you receive in opening one simply complement the stellar service you receive on a daily basis.
Are you ready to find out what some of the best business checking account promotions are if you open a new account today? Let’s get started with a list of features you should look for.
Top Business Checking Account Features
The best business checking account features are similar to those of personal checking accounts. However, these perks can be even more critical for a business to run, since you’re typically counting every penny.
Most business checking accounts come with specific fees and limitations. For example, they may require an opening deposit. This can largely depend on what type of bank they are, such as a national, regional, or local bank. You’ll also gain access to ATMs and other included tools, though you may be subject to certain limitations.
Many business checking accounts include the ability to open a savings account as well. High-yield savings accounts are the most sought-after, as they make the most of your business savings as you work.
Some of the best business checking accounts are those that will grow with your business so that you can continue to offer more services with the support of your financial institution. As your small business grows, you can integrate new services with your business checking account to keep the ball rolling.
Best Business Checking Account Promotions
With these characteristics in mind, it’ll help you with choosing a business banking account. Let’s take a look at which business checking account promotions you can take advantage of if you’re looking to open a new account for your business needs.
Axos Basic Business – up to $200 bonus 🏆
Use the code NEWBIZ200 to earn up to $200 by opening a business checking account with Axos. The Axos Basic Business account requires an average daily balance of $2,500 or more to qualify for the $200 bonus, which must be held for at least 90 days after opening the account.
Axos offers no maintenance fees, no minimum balance, and no opening deposit required on their checking accounts. You’ll also get a free set of 50 checks. Businesses who bank with Axos can deposit up to 60 items per month with Remote Deposit Anywhere. Plus, you have unlimited processing capabilities for credits, debits, and deposits.
Editor’s Pick
Axos Basic Business Checking
4.0
AXOS is an online bank that focuses on simple business banking online. It’s free, and you get no monthly maintenance fees, a low minimum deposit requirement, and unlimited domestic ATM fee reimbursements.
NorthOne – $20 Bonus
NorthOne is one of the best banks for freelancers to start their business banking. It’s a standout bank that takes just $50 to open an account. The bank has a low monthly maintenance fee of only $10 but doesn’t have any monthly balance requirements or minimum deposits.
Interest-bearing accounts are not available, but you enjoy unlimited fee-free transactions and a ton of online tools to help you manage your business banking. You also don’t need a branch to operate your account with NorthOne banks because mobile banking and mobile check deposit are available.
Get $20 welcome bonus
NorthOne Business Banking
5.0
NorthOne offers a variety of online and digital tools to manage your business banking. Open an account in as little as 3 minutes. Join now with no commitments, no minimum balance, cancel anytime.
Chase Business Complete Banking℠ – $300 in rewards
Chase Business Complete Banking℠ takes care of the basics, so you can focus on growing your business.
Open a new Chase Business Complete Banking account to receive $300 in rewards.
Complete 5 transactions within a 90 day period, maintain a $2,000 balance within the first 60 days, and fund the account within 30 days with a minimum of $2,000 to receive this reward.
Opportunity to earn $300 sign-up bonus
Chase Business Complete Banking℠
4.9
Chase Business Complete Banking℠ takes care of the basics, so you can focus on growing your business. This digital-friendly Chase business checking account is ideal for small-business owners who want branch access.
U.S. Bank Silver Business Checking Package – $400 bonus
Earn a $400 bonus when you open a new, eligible U.S. Bank business checking account online with promo code AF49ZCB and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 9, 2023. Member FDIC.
Complete these steps to earn the offer:
- Enroll in online banking or U.S. Bank Mobile App within 60 days of account opening.
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days.
- Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.
Applicant must reside in 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 to be eligible for checking account.
U.S. Bank Gold Business Checking Package – $400 bonus
Earn a $400 bonus when you open a new, eligible U.S. Bank business checking account online with promo code AF49ZCB and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 9, 2023. Member FDIC. Complete these steps to earn the offer:
- Enroll in online banking or U.S. Bank Mobile App within 60 days of account opening.
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days.
- Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.
Applicant must reside in 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 to be eligible for checking account.
U.S. Bank Platinum Business Checking Package – $400 bonus
Earn a $400 bonus when you open a new, eligible U.S. Bank business checking account online with promo code AF49ZCB and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 9, 2023. Member FDIC. Complete these steps to earn the offer:
- Enroll in online banking or U.S. Bank Mobile App within 60 days of account opening.
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days.
- Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.
Applicant must reside in 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 to be eligible for checking account.
Live Oak Bank Small Business Checking Account – $300 bonus
Live Oak Bank is designed with simplicity for newly-formed businesses, solopreneurs, gig-workers, freelancers, and side-hustlers. For a limited time you can receive a $300 cash bonus when you open a new Live Oak Bank small business checking account by November 18, 2022, with qualifying activities.
You can qualify for the $300 bonus in three steps:
1) Open a new small business checking account between 10/3/22 and 11/18/22.
2) Deposit at least $2,500 into your new small business checking account within 90 days of opening. Please note, the $2,500 deposited into your new account must be new money to Live Oak Bank and can not be an internal transfer between Live Oak Bank accounts.
3) Make 15 qualifying transactions within 90 days of opening your small business checking account.
Must be a first-time Live Oak small business checking customer to be eligible for this bonus offer.
Citi Small Business Checking Account – up to $2,000
Opening a business checking account with Citi can earn you up to $2,000. You’ll need to make a qualifying deposit within 30 days of opening the account and maintain that balance for the next 60 days. Promotion bonuses are issued via 1099-INT.
Deposits of s$5,000 to $14,999 will earn you a $200 bonus. You can get a $1,000 bonus if you deposit $50,000 to $99,999 into your new Citi Small Business Checking Account. However, in order to receive the full $2,000 promotion balance, you will need to deposit $200,000 or more into your business checking account.
Huntington Business Checking – up to $750 bonus
There are three accounts you can choose from when opening a business checking account with Huntington. Depending on which type of account you open, you’ll earn a corresponding reward.
- Business Checking 100: You can earn $100 for depositing $2,000 into your new business checking account. You’ll have to make this deposit within 60 days of opening the account, and keep that account open for 90 days. If you close your account within 180 days of opening it, you will be charged an early account closing fee. Bonuses are deposited within your new checking account 14 days after you meet the requirements.
- Unlimited Business Checking: If you deposit $5,000 or more into your new business checking account, you will receive a bonus of $400. All the same requirements of the $100 bonus apply.
- Unlimited Plus Business Checking: To receive the full $750 promotional balance, you’ll have to deposit at least $20,000 into your account. You can waive the $40 per month maintenance fee by keeping $50,000 in combined deposits.
These business checking account promotions from Huntington end on November 7th. Be sure to take advantage of them before that date to receive your bonus.
M&T Bank – up to $600 bonus
There are two steps to earning a promotion with M&T Bank when you open a new business checking account. First, you’ll need to open a Tailored Business Checking Account. This will earn you $300 as long as you have an average balance of $5,000 or more for the third full calendar month after you open the business checking account. Your bonus will then be credited to your account within 45 days of completing these requirements.
Additionally, you can earn another $300 for opening a M&T Merchant Services Account. You’ll need to process $20 in merchant transactions within a month of opening your account to receive the $300. Plus, you can earn $100 more if you process at least $4,000 worth in that month.
Bank of America Business Advantage Banking – $500 promotion
To qualify for a $500 bonus from Bank of America, you can open a Bank of America Business Advantage Banking account. This business checking account, in addition to the Business Advantage Fundamentals Banking and Business Advantage Relationship Banking accounts, are all eligible for the $500 promotion.
If you deposit $20,000 or more within 15 days of opening your account, you’ll get $500 back. You must, however, maintain that balance (on average) for the next 60 days. While Bank of America does charge monthly fees on their accounts, they do offer ways to waive those fees if you meet certain requirements.
PNC Business Checking – up to $500 in promotions
Both PNC Business Checking and PNC Business Checking plus accounts are eligible to earn up to $500 in promotions for opening a new business checking account. You’ll need $100 to open the account, but you must maintain a balance of $5,000 or more within the first 3 statement cycles to qualify. Plus, a total of 20 transactions with your Visa debit card are required within that same time period as well.
As long as you have a minimum balance of $500, you won’t be charged the $10 monthly maintenance fee. You can also use the linked PNC Visa business credit card to make $500 in purchases or maintain a PNC Merchant Services account with $500 processed in deposits to waive this monthly fee as well.
PNC also offers the Treasury Enterprise Plan and Analysis Business Checking accounts. These accounts require a minimum balance of $30,000 within the first 3 statement cycles but offer a $500 reward.
BMO Harris Business Checking Offers – Up to $500 in rewards
The business checking account promotions for BMO Harris are only available to residents in Arizona, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota, and Wisconsin. The Essential Business Checking Account and Business Advantage Checking Account are both eligible for up to $500 in rewards, which can really help add to your business’s bottom line.
To earn up to $400 with the Essential Business Checking account, you’ll need to deposit at least $1,500 within 30 days of opening your account. This balance should be maintained for at least 90 days to earn this deposit, which also requires you to make 10 transactions in those 90 days as well. There is no direct deposit required, however.
Business Advantage Checking accounts can earn up to $500 in rewards by depositing $5,000 within a month and keeping it there for 90 days. Again, you’ll have to complete at least 10 transactions in that timeframe as well to achieve your bonus.
U.S. Bank Business Checking – up to $500 cash bonus
You can open a Silver, Gold, or Platinum Business Checking Account to earn $500 with U.S. Bank. Use the promo code Q1BUS22 and fund the account with at least $100 to start. You’ll need to deposit at least $5,000 within the first month of ownership and maintain that same balance for 60 days after that.
Truist Business Checking – $200 bonus
You can earn a $200 bonus for opening a business checking account with Truist by using hte code SB22NEW2BIZ4. This particular bank requires that you deposit at least $1,500 into your new account within 30 days of opening it, as well as enroll and sign in to Truist Online Banking for Business.
There are no minimum balances or ACH fees associated with your Truist Business Checking account. You won’t pay a monthly fee, but you will get a personalized debit card. Businesses have access to both online and mobile banking with Truist, which operates in Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Washington, D.C.
American Express Business Checking – up to $300 bonus [EXPIRED]
There are no monthly maintenance fees for a business checking account with American Express. This well-known financial institution offers new customers up to $300 and 1.1% APY on balances of $500,000 or more.
To earn the $300 bonus, you will need to deposit a minimum of $5,000 into the business checking account within 10 days. You should maintain that account balance for 60 days after that and make 10 transactions within those 60 days to complete your qualifications.
Fulton Bank Small Business Checking – $300 in bonuses [EXPIRED]
Fulton Bank is a regional bank available to residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, and Washington D.C that offers new customers the chance at $300 in bonuses.
To earn this bonus, you’ll need to open a business checking account with a minimum deposit of $2,000 within the first 30 days. Your account cannot fall below this amount in the first 60 days after it’s been opened.
You will also have to completed at least 10 transactions within that 60-day time period, with a minimum of $10 per transaction. Fulton Bank offers their business customers accounts with no monthly maintenance fees, no minimum daily balances, and 200 allowed processed items before you get charged.
You can open an account online if you’re a sole proprietor. You can also request a coupon to be eligible for the promotion to take to your local Fulton Bank branch to sign up.
FAQs
The majority of major banking institutions offer some sort of business checking account perk. For example, American Express rewards businesses with up to $300.
Every single bank on our list will pay you to open a business checking account. The amount varies from one institution to the next, but you can certainly earn a reward with any of them.
Banks such as Axos have no monthly maintenance fees for their business checking accounts. However, some banks will charge a monthly account, unless you fulfill a certain number of requirements. Check with each financial institution to see how you can waive monthly maintenance fees, if there are any.
Bank on Your Business’s Future
Getting a bonus for opening a new business checking account might not be everything you need to start your business, but it certainly helps. If you’re looking to make the most of opening a new business checking account, any of the banks on our list are great candidates. Check out which ones offer the best perks for you and set your new business up for success. This is only the first step of many on the path toward great things to come.
If you’re a fan of these types of promotions, consider checking out the best bank account bonuses for your personal accounts and score some free money.