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I’ve had my eye on Nearside Checking for some time. It’s a free, FDIC-insured business banking platform with a Mastercard debit card that offers a generous, unlimited 2.2% cash-back rate on all eligible purchases in 2022. There are no fees and no minimum balances. By itself, that’s pretty compelling, but things just got a little more exciting,
Nearside is currently offering a $40 bonus on your first deposit of $200. This is stackable with their normal referral offer which gives each side a $50 bonus after the new account holder spends $100 on the debit card within the first 30 days. By using a referral link, making a $200 deposit and then spending $100 on the debit card in the first 30 days, you’ll end up with $90 (and 2.2% cashback uncapped for the rest of 2022). I signed up today. The application process took about 5 minutes and I was approved within 15 minutes without a hard pull and with a virtual debit card number in hand.


The Deal
- Get $40 welcome bonus on your first $200 deposit when signing-up for a new checking account and making the deposit within 7 days.
- Stack with a referral link to get an additional $50 when spending $100 in the first 30 days on the debit card.
Direct Link to $40 offer WITHOUT $50 referral bonus
Key Terms
- $40 welcome bonus offer may only be redeemed once per user.
- Must download photo ID to be approved for checking account.
- Must link bank in order to transfer funds (nice to see you again, Plaid).
- $200 deposit must be made within 7 days in order to qualify for bonus
- Both your and your referral’s accounts must be open and in good standing to qualify for referral promotion. Statement credits will appear on your and your referral’s statements within ninety (90) days of qualifying spend, provided that we receive information about the qualifying transaction. Statement credit will be reversed if a qualifying transaction is returned or cancelled.
Quick Thoughts
I’ve been wanting to sign-up and write about Nearside ever since they started offering 2.2% uncapped cashback for 2022, this welcome offer makes it a no-brainer in my opinion.
I went through the entire process this morning and it took about 5 minutes to apply. After that, I received an approval e-mail in about 15 minutes and was able to get a virtual card number on the app which I added to my Apple Wallet.
I specifically did not use any of my actual business information when I applied, as I wanted to find out how stringent the business qualifications would be. I used my own Social Security number as a sole proprietor and downloaded my ID, but didn’t link any website or social media identifying the business. When asking for the type of business, I put travel and leisure. There was no hard pull.
Compared to the underwhelming Amex Debit rollout this week, this seems like an easy home-run. Even after the bonus, uncapped 2.2% cashback on debit will keep this card close at hand for the remainder of the year. Will it last beyond that? Who knows. But for the near-term, Nearside is a winner.
