It’s a great time to shop for a new checking account for your small business. Since Q4 is generally a slow period for new accounts, many banks scouting for new business accounts with giant bonuses. We were surprised to see $900 offered by US Bank* when they contacted us last week. But it turns out that’s not even the highest bonus out there. Five banks have bonuses of $1,000 or more, but only Huntington ($30,000) requires less than $100,000 to earn the bonus.

And even if you don’t have a 5-figure checking balance, you can still earn as much as $500 for a relatively modest balance of $2000 to $5000.

Choosing the best bank offer:

While it’s tempting to go with the highest dollar amount, those bonuses are just a one-time treat. Much more important is choosing a bank that meets your banking, payment and credit needs. And most businesses will want to choose one bank with branches in your area and a second one that offers the most convenient mobile and online banking. For more information on making a good choice see our previous post.

Caveats:

  • Most banks require you to maintain this level of minimum deposit for at least 60 to 90 days to earn the bonus.
  • We tried to only include offers available to businesses anywhere in the United States. However, you may find undisclosed geographic limitations when you apply.

New Account Offers by National Banks

Company Offer Product Min Deposit Min Time Expires Fine print
Flushing Bank $2,500 Checking $250,000 90 days
Citibank $2,000 Checking $200,000 45 days 7 Jan 25 Varies by zip
Citibank $1,500 Checking $100,000 45 days 7 Jan 25 Varies by zip
M&T Bank $1,500 Checking $100,000 90 days 31 Dec 25
Huntington Bank $1,000 Checking: Unlimited Plus $20,000 60 days 7 Jan 25
PNC Bank $1,000 Treasury Management $100,000 90 days
Flushing Bank $1,000 Checking $100,000 90 days
US Bank $900 Checking: Platinum $30,000 90 days 15 Jan 25
Horizon Bank $800 Checking $25,000 90 days Min 20 trans
Citibank $750 Checking $20,000 45 days 7 Jan 25 Varies by zip
Associated Bank $750 Checking: Choice $20,000 60 days 30 Jun 25
BMO $750 Checking $25,000 60 days 1 Feb 25
M&T Bank $750 Checking $30,000 90 days 31 Dec 25
TD Bank $500 Checking $2,500 60 days 30 Nov 24 Min 25 trans
Central Bank $500 Checking $3,000 1 day (1) 31 Jan 25
M&T Bank $500 Checking $15,000 90 days 31 Dec 25
PNC Bank $500 Treasury Management $30,000 90 days
Flushing Bank $500 Checking $50,000 90 days
PNC Bank $400 Checking $2,000 90 days 31 Dec 24
Min 20 trans
Huntington Bank $400 Checking: Unlimited $5,000 30 days 7 Jan 25
Associated Bank $400 Checking: Balanced $5,000 60 days 30 Jun 25
US Bank $400 Checking: Silver $5,000 90 days 15 Jan 25
Horizon Bank $400 Checking $5,000 90 days Min 20 trans
Axos Bank $400 Checking $50,000 120 days 2 Jan 24
Min 10 trans
BMO $350 Checking $4,000 60 days 1 Feb 25
Guaranty Bank $300 Checking Varies 1 day 8 Dec 24
Must stay open 30 days
Chase $300 Checking $2,000 30 days 16 Jan 25
Min 5 trans
Bluevine $300 Checking $6,000 None 31 Dec 24
Must spend $2k/mo with debit card
Citibank $300 Checking $5,000 45 days 7 Jan 25
Varies by zip
Lilli $300 Checking $5,000 60 days 31 Dec 24
Min 5 trans
American Express $300 Checking $5,000 60 days None
Min 5 trans; Reward is 30,000 points
M&T Bank $300 Checking $5,000 90 days 31 Dec 25
Axos Bank $300 Checking $25,000 120 days 2 Jan 24
Min 10 trans
Mercury $250 Checking $10,000 None None
Bank of America $200 Checking $5,000 60 days 31 Dec 24
Flushing Bank $150 Checking $10,000 90 days
Huntington Bank $100 Checking 100 $2,000 30 days 7 Jan 25
Associated Bank $100 Checking: Access $2,000 60 days 30 Jun 25

Source: FintechLabs, 6 Nov 2024
Note: 1. Must have $3k on deposit on day 90

*Disclosures: We may earn revenues from listed banks