Update 2/20/25: Bonus is now $500. Requires $3,000 instead of $1,500.
Update 1/5/25: Deal is back, now $225 instead of $300.
Update 9/15/21: Deal is apparently still live, but you need to go in branch and ask for it (obviously don’t mention this site).
And deal is now dead. You can view the most bank account bonuses by clicking here.
Offer now live. Can see this deal being pulled early so sign up quickly if interested. Warning: According to the fine print the bonus doesn’t go live until September 7, 2021.
Offer at a glance
- Maximum bonus amount: $300
- Availability: DE, MD, NJ, PA, DC & VA only. May need to live in one of the counties
- Direct deposit required: None
- Additional requirements: See below
- Hard/soft pull: Soft. Make sure to opt out of overdraft protection
- ChexSystems: Yes.
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: November 30, 2021
Contents
The Offer
- Fulton Bank is offering a bonus of $225 when you open a new business checking bonus.
- Use promo code BCK500
- Deposit at least $3,000 of new money within 30 days of account opening
- Have a $3,000 minimum balance in your account on day 60 after account is opened
- Enroll in Small Business Online Banking within 60 days of account opening
The Fine Print
- To receive $300 cash bonus, your business must not currently have, nor have had, any business checking account with Fulton Bank in the last 12 months, and your business must do all of the following:
- (i) Open a new Business Checking, Business Premium Checking, or Business Interest Checking account between September 7, 2021 and November 30, 2021;
- (ii) Deposit a total of $2,000 or more in new money into your account within 30 days of opening the account. New money is defined as funds not currently on deposit with Fulton Bank by the account holder at time of account opening;
- (iii) Maintain minimum balance of $2,000 or more on day 60 after account opening;
- (iv) Complete a minimum of 10 business debit card purchases (includes in-store and online purchases), each totaling $10 or more, within 60 days after account opening (transactions must be posted to the account within the 60-day timeframe).
- The new business checking account must remain open, and account cannot have a negative balance at the time the bonus is credited.
- Bonus will be credited to the account within four to six weeks after meeting all offer requirements.
- We reserve the right to decline to open an account in our sole and absolute discretion.
- We will report the cash bonus amount to the IRS as interest for the year in which it was received.
- One cash bonus per business entity as identified by Taxpayer Identification Number (TIN).
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Business checking has no monthly fees to worry about.
Early Account Termination Fee
I can find no references to an early account termination fee on their website.
Our Verdict
Looks to be a good easy bonus with easy requirements, worth doing if you’re in an eligible area and you have a business. We will add this to our list of the best business checking bonuses.
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
Anyone having problem registering for the small business online banking? Got the approval email, and used the link in the email to register, but keep getting error message saying cannot verify tax id number.
Yep same issue here
Called and told to wait for tomorrow to register.
Applied as sole prop, I’m definitely in the area and have gotten personal bonuses before. I was able to get to the end and sign all the documents. Hope it goes through, seems easy enough.
Applied as sole prop w/ EIN, went pending. The field for the promo code is towards the end, after you select which products you want. At the end you will get a promo disclosure you have to esign(big fan of this so you have proof it was applied). The very last page was to upload buisness DBA document, it let me skip. When Live Oak forced me to upload something, I uploaded my EIN registration, which seemed to work.
Business cc funding limited to $50, for personal accounts Fidelity 2% card coded as purchase in December.
Already got an email and a call, they need me to upload the EIN registration to approve.
Seems like an SSN won’t quite cut it for this one, you need an EIN(very easy to get!)
How do I get EIN easily?
Just google obtain EIN and you can get one online from the IRS. Be sure to download the form when completed. Takes a couple minutes tops, only basic information is needed for a sole prop. There are many articles out there explaining it as well for this simplest of cases.
Thanks so much for replying here — I had no idea it was so easy to get one. It took less than 5 minutes!
Would I need to select a DBA name or would this still work having an EIN without it?
Has anyone used SSN with sole prop?
Tried today and got the “Additional Information Required” screen
Damn 🙁 so probably no go.
What did the screen ask for?
Yes, 1.5 hours between submission/CC charge and approval, unfortunately it was only for $225.
So you were approved with sole prop and SSN? Are they chex sensitive?
yes, dunno
Went pending, it seems (or the app timed app…). Didn’t see any place to enter the promo code.
I did get an email with a place to check status/continue, but the continue button didn’t work.
Also went pending. There was a clear spot to put the promo code in after you select what products you want to open. And you had to sign the promo disclaimer form.
I never got that far…. Seems I couldn’t get past the page after checking that I read the privacy disclosures.
Just called and tried to match this new promo code and was told this is targeted offer.
Does this mean that this is not a public offer and would work only if targeted?
In addition to the other eligibility criteria set forth below, this promotional offer is only available to businesses that: (1) accessed the landing page via direct communication (digital advertisement) from Fulton Bank
They use this language in their personal checking bonuses as well. I just completed that for myself and P2(still have accounts open) and didn’t have any issues, they paid out fast. Churned them a couple years ago as well, no issues. I think you only might run into issues if you had to open a case with them if your bonus did not post.
I’ll def be trying this one as well as a sole Prop with an EIN, this is about as easy as it gets.
They messed up everyone’s 2024 1099 and put $3 instead of $300, still waiting on the corrected 1099…. ugh(they did own up and claimed they would send out corrected forms)
Why the “ugh” and “still waiting” comments about the corrected 1099, you don’t need it to file
My state(NJ) free eFile requires me to upload/send all my 1099s with it, so I gotta wait for the corrected form in the mail. I can submit federal now yes.
You are mistaken. New Jersey does NOT require that you “upload/send” your 1099s, either as part of the integrated IRS Direct file process or the separate NJ e-file process.
I was going by the NJ-1040 instructions, page 41. Directions for Line 55 state “Enclose forms W-2 and 1099 with your return”
Does that only mean include W-2s and 1099s that had NJ income tax withheld? I’m not subject to backup withholding or anything and never have any state tax withheld from bonuses.
If so thanks for pointing that out and saving me the hassle of scanning in my 1099s that only got mailed!
Do you know if this will work with SSN?
See my above post, seems like you do need an EIN.
Not necessary for approval, but might be a good idea if you have/did the personal checking as well…
pleases explain
Can this be done as a sole prop and using an SSN?
Sad. I just signed up for $225 last month. Oh well. Never know, at this pint I hope to get any bonuses 🙂