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US Bank has a promotion for new Business Checking accounts that offers either a $500 or $750 bonus with very simply requirements. This deal is available in states within US Bank’s footprint and requires signing up for online banking and making one or more deposits totaling either $5,000 or $15,000 within 30 dyas, then holding that money in the account until 60 days after account opening. The total of the deposits will determine the bonus amount. $5,000 gets you $500, $15,000 gets you $750.
The Deal
- US Bank is offering a bonus of $500-$750 when you open new business checking account using promo code Q2BUS23 and complete the following requirements within 60 days
- Enroll in online banking or the U.S. Bank Mobile App.
- For the $500 bonus, complete one or more deposits totaling $5,000 or more and maintain the balance for 60 days from account opening
- For the $750 bonus, complete one or more deposits totaling $15,000 or more and maintain the balance for 60 days from account opening
- Expires 6/30/2023
Terms and Conditions
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Promo code Q2BUS23 MUST be used when opening the business checking account.
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Limit of one Business Checking bonus per business.
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Earn your $750 Business Checking bonus by opening a U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account between 04/24/2023 and 06/30/2023. You must make new deposit(s) of at least $15,000 in new money deposits (Direct Deposits, ATM/Branch Deposits, Mobile Check Deposit, ACH or Wires) within 30 days of account opening and thereafter maintain a balance of at least $15,000 until the 60th day after account opening.
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Earn your $500 Business Checking bonus by opening a new U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account between 04/24/2023 and 06/30/2023. You must make new deposit(s) of at least $5,000 in new money deposits (Direct Deposits, ATM/Branch Deposits, Mobile Check Deposit, ACH or Wires) within 30 days of account opening and thereafter maintain a balance of at least $5,000 until the 60th day after account opening.
- An individual signer on the new checking account must be enrolled in U.S. Bank online banking or the U.S. Bank Mobile App using their business profile within 60 days of account opening.
- The new money deposit cannot be funds held by U.S. Bank or its affiliates. The business checking bonus will be deposited into your new U.S. Bank Business Checking account within 45 days of balance verification, as long as the account is open and has a positive balance. Offer may not be combined with any other business checking account bonus offers. Offer is not valid if you or any signer on the new business checking account have an existing U.S. Bank Business Checking account or had a U.S. Bank Business Checking account in the last 24 months.
- Monthly Maintenance Fee Waiver Options: Gold Business Checking: U.S. Bank Payment Solutions Merchant Banking OR $10,000 average collected balance OR $20,000 combined average collected business deposit balances OR $50,000 combined average collected business deposits and outstanding credit balances. Platinum Business Checking: $25,000 average collected balance OR $75,000 combined average collected business deposits and outstanding business credit balances.
Quick Thoughts
This is an easy checking account bonus, as the requirements are very simple: make deposits totalling $5000 or $15,000 within thirty days of account opening, hold the money in the account for 60 days afer account opening and sign-up for online banking. That’s it.
Since you can open an account with as little as $100, you don’t need to deposit the remainder until day 25-30. After 60 days (from account opening), you just need to maintain a positive balance until the bonus gets credited (US Bank gives themselves up to 45 days to do that). So, you shouldn’t have to leave the full amount in the account for longer than 30-35 days.
There’s three different types of business checking, but you can get the bonus by signing up for Silver, which has no maintenance fees. The account is limited to 125 transactions per month and then each transaction gets charged a $.50 fee, but, why would you do more than 125 transactions in a month?
There’s two other levels that have increased transactions levels, but also have maintenance fees that require a relatively significant balance to waive, so there’s really no reason to do one of those instead of the free Silver account.
The bonus is limited to those states that have a US Bank branch (which is a wide net…see locations here). That said, if you happen to live in one of the states that doesn’t have a branch, you can get around this requirement by opening a US Bank brokerage account first and then opening the checking account afterwards. There’s no need to have any activity on the brokerage account.
US Bank seems to be fairly strict on its churning rules so I wouldn’t mess with it if you’ve had an account or received a US Bank bonus within the past two years. If you haven’t, this is easy money.
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Anyone have a bonus post yet – I’m around day 80 and nothing yet
Both mine and P2 showed up today 8/9. P2 opened up on 5/17 and myself on 5/24. Last week when I called they said it can take up to 45 days AFTER the 60 day period so up to 105 days from when you first opened up.
Is it ok to just withdraw all the funds and move them back into my primary bank account? or should I leave $1 in the account? Not sure if having a zero balance or just closing the account will negatively affect my ability to get CC with US Bank in the future or get another checking account SUB in a few years with them when they run a similar promo
mine also posted last night. i also got a business cc so i’m leaving some money in that account to pay that bill. transferred half of it out immediately, though.
I’m a little confused. I live in NY. I don’t think there is a branch here so what steps do I have to take to do this?
Hey did you ever figure it out? I’m also in a state with no branch
“That said, if you happen to live in one of the states that doesn’t have a branch, you can get around this requirement by opening a US Bank brokerage account first and then opening the checking account afterwards. There’s no need to have any activity on the brokerage account.”
Dang. I got declined for some reason.
“We appreciate your interest in a Silver Business Checking Package, but your application was not approved. You’ll receive an email that explains why your application was declined.
If you have any questions, please call us at 800-215-1571”
I wonder why. Any thoughts?
Did you ever receive an explanation?
Folks, be really careful that the 5k/15k despoit requirement cannot from cc based on their T&C:
Earn your $500 Business Checking bonus by opening a new U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account between 04/24/2023 and 06/30/2023. You must make new deposit(s) of at least $5,000 in new money deposits (Direct Deposits, ATM/Branch Deposits, Mobile Check Deposit, ACH or Wires) within 30 days of account opening and thereafter maintain a balance of at least $5,000 until the 60th day after account openin
This is unclear.
Ok. We put $2700 on a card and moved in more via ACH to get to $15000. We’ll see if they give $500 or $750. I’ll try to get back here. The credit card was from B of A (had to call them to do it) not US Bank, so technically it’s ‘money new to US Bank’.
US Bank playing games with me: They put a $2,500 daily ACH limit (on incoming and outgoing money). Also a $5,000 weekly limit. That means since I made the mistake of not funding while opening, it will take me 3 weeks minimum to make the $15K deposit. If I hadn’t noticed the limits soon enough, I would not have gotten the bonus. Called in to increase the transfer limit and they said they can’t do it. By the way, when my money is in there, I also can’t take out more than $5K in a week! And they call this a business checking account!
What about initiating the transaction from the sending bank? From there, just push the whole $15K. Those limits might just apply if the transaction is initiated on the US Bank website. I’ve run into the same thing with them and I just use the other bank.
You forgot to mention you can fund $3000 with a credit card. Almost completely knocked out the spend requirement on my new Citi AA card
Unreal. Tried three times with a recent card and it didn’t go through for P2. B of A Alaska. Cash limit 2850 CL way higher. Stayed under the cash limit. Three strikes and you’re out.
They send a form if that happens. So, we’ve got the form. Form has a provision for CC funding. We plan to wait a few weeks before sending it back. 60-day countdown is on and funding not required for 30 days. Might go for the $750. Also remember: Silver has no min bal requirement. Day 61: out goes the money.
And it didn’t count as cash advance?
No. Lots of DP’s. Amx does work
Hey Tim, we did a US Bank personal account bonus for P1 and P2 last year. You said US Bank is churn-sensitive – Is it too soon for us to do this business bonus?
I just spoke with a US Bank rep to clarify this, as my P2 just received her bonus for the personal Bank Smartly account weeks ago. The rep said that as long as it wasn’t for a business checking account, P2 would be fine.
Also, in case anyone else was wondering, the credit card that you use to fund the account doesn’t have to be in the same name as the account holder. (Most might not have even wondered if that would be an issue. But I just wanted to be sure, so asked.)
In light of all this, we just opened the business account for P2, funding $3K off a card in its SUB period. Super simple and smooth.
What cards do not charge cash advance. Amex said they do.
Sounds good – thanks!
Anywhere that talks more about being able to open after first opening a brokerage account for those not in a state with branches?
Easy to get approved as a SP?
Not eligible if you got ANY US Bank bonus? Or only this one
P2 here is SP – went right through.
Great tip. Just signed up and was able to do initial fund of 3k with Ink card.
What does it come up as for the charge? Thinking of getting a Citi AA card and funding 3K with it.
For Chase IHG Premier and United Gateway, this coded as purchases.
Coded as purchase on my Citi AA Biz card
I’m presuming opening this account (or any checking account to get bonuses) does not impact anything on your credit report that would negatively affect the availability to get future credit cards (personal or business)
Can you fund with a credit card
Yes…Just signed up a few minutes ago….3k thru Ink card.
Yes, you should be able to up to $3K
does that count as a cash advance or a regular charge on the card (assuming earning 1x).
Need more info on this
would vary…but always set your cc to cash advance less than $100 so would not go thru.
Thanks!
I did the 3k CC funding for this account a few weeks ago using IHG Premier and it codes as purchase. I did the same for a $25 funding for the US Bank personal Checking account using United Gateway and that also coded as purchase.
Thanks DMoney. Is CC funding allowed after you open the account ($0) balance say within 30 days or CC funding is only allowed when you open the account
If the CC initial funding fails when you open the account (P2’s here did for some reason), they’ll send you a PDF by email and on there you can give them the CC details. That’s our plan. Plus, because you have 30 days to fund, no rush.
We’re planning to use a B of A CC (Alaska personal). Not sure whether it will code as purchase or CA. I’ll try to remember to add this DP later.