Update 10/24/24: Can stack this with another $150 bonus from bankbonus.com
Update: As the comments point out, not worth it as you need a $70,000 balance to get the $375 bonus. Otherwise it’s only $225.
Offer at a glance
- Maximum bonus amount:Â $375
- Availability:Â Nationwide
- Deposit required: $30,000
- APY: 4% APY
- Hard/soft pull:Â Soft pull
- ChexSystems:Â Yes
- Credit card funding:Â No
- Monthly fees:Â None
- Early account termination fee:Â $50, 180 days
- Household limit:Â None listed
- Expiration date: 12/31/24
Contents
The Offer
- Axos Bank is offering a business savings bonus of up to $375. Earn a $75 monthly bonus when you have an average daily balance of $30,000+ or have an average balance of $75,000 to earn $125. Must use promo code BPS375
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
Account must be kept open for 180 days otherwise a $50 fee will apply.
Our Verdict
Update: As the comments point out, not worth it as you need a $70,000 balance to get the $375 bonus. Otherwise it’s only $225.
If you have exactly $30,000 in the account this works out to be 7% APY with the 4% base rate and the $75 monthly bonus. Worth considering especially with rates falling if you have a large balance that you’d like to tie up for a few months.
Hat tip to Dane
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
This is still available through 1/31.
Does anyone know if you can get a personal and business bonus in the same year? The terms are unclear.
I am currently doing the $150 Bank Bonus promotion (first time with BankBonus.com). The $2K deposit went into my account two days ago and I just got the email confirming that I’ve met all of the requirements for the $150 bonus and my expected payout date is by February 2025.
Is it now safe for me to withdraw the funds out of the account? Was planning on leaving a small balance in there, so it doesn’t get automatically closed.
My 30k deposit cleared on on 10/29/24, received my first $75 bonus on 12/1/24.
I did not get any bonus for October.
After getting 2 more bonus on 1/1/25 and 2/1/25, I should be good to transfer my money out?
I deposited 2k for bankbonus.com and they have to manually review this. Should I push out the funds or just keep them in until I get approved? Perhaps I’m cynical, however, I think they did not give me the $150 right away because they want me to keep the money in Axos Bank.
Keep it there until they confirm the $150 since Axos has a good APY. In this case your cynicism is misplaced, I’ve only had good experiences with BankBonus.
” A statement cycle is a calendar month consisting of at least one day your account was open during that month. $75 will be earned for each statement cycle during which the average daily balance in your Business Premium Savings account is between $30,000 and $74,999.99.”
Does it mean for the account opening month (a partial month), as long as the average daily balance for the days left in that month is above the threshold, the account is eligible for bonus for that month?
last time I used Bank Bonus , I had to email bankbonus.com. Make sure the email address you used to open Axos is the same email that bankbonus.com has. My email was the wrong one and Bank bonus changed my email address and sent the egift card immediately. Plus make sure they have the actual info on the open acct.
I applied through the link on bankbonus.com and have not received the bonus confirmation ten days after opening the account and they aren’t responding to the emails. What is the next action I should take?
Same here
Have you tried contacting
AxosBank ?
I got approved for my account on the 31st, however, I never received any confirmation emails from bankbonus.com. Is anyone else having a similar problem?
I got an email from bankbonus.com confirming my $150 a few days after account funding went through, but they say it can take up to 10 days.
“Within 10 days of funding your account, you will receive an email from BankBonus.com confirming that you have qualified for the bonus. If you DO NOT receive this confirmation, it means our system did not receive confirmation from Axos Bank. You MUST notify [email protected] within 30 days of account funding to initiate a manual review. Failure to do so within this window will forfeit the bonus.”
I applied for this for my P2, but got an email back saying P2 needs to set up a telephone appointment to review the application. Should I ditch it or is it possible to get through this without a legit business. P2 does make money as an author and engineering consultant, but as a sole proprietor using only the SSN.
I successfully opened the account without scheduling a call. Also sole prop/SSN.
did you end up scheduling the appt? I got just hit the same wall as your P2