[NY] Sterling National Bank $500 Business Checking Bonus

Offer at a glance

• Maximum bonus amount: $500
• Availability: NY only
• Direct deposit required: None
• Additional requirements: Deposit $250,000+
• Hard/soft pull: Soft pull
• ChexSystems: Yes, not sensitive
• Credit card funding: Unknown
• Monthly fees: Avoidable
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Sterling National Bank is $500 when you open a new business checking account. You receive a $100 bonus per statement cycle that Elite Level requirements are met. Those requirements are:
  • $250,000 balance across all eligible accounts

The Fine Print

• Up to $500 as a sign-on bonus earned in increments of $100 per statement cycle if Elite Level requirements are met for the statement cycle.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

There is no monthly fee as long as you have the $250,000 deposit that is required for the bonus anyway.

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is an early account termination fee or not.

Our Verdict

Bonus not really worth considering due to the $250,000 deposit requirement. Because of this we won’t add this to our list of the best checking bonus. There is a $1,000 personal checking bonus as well.

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