[GA, NC, SC, VA, FL, AL, In Branch] South State Bank $400 Business Checking Bonus

Offer at a glance

  • Maximum bonus amount: $400
  • Availability: GA, NC, SC, VA, FL, AL
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: Up to $250
  • Monthly fees: None
  • Early account termination fee: $25, 90 days
  • Household limit: None
  • Expiration date: None

The Offer

Direct link to offer

  • SouthState Bank is offering a $400 bonus when you open a new business checking account and complete the following requirements:
    • Use promo code SB400
    • Complete one of the following:
      • Make a minimum of 15 debit card purchases/payments, OR
      • Have cumulative ACH credits of at least $5,000.

The Fine Print

  • Promotional offer applies to new business checking accounts (excluding IOTA/IOLTA and Association Checking) opened during the promotional period with the promo code SB400. To open an account at a branch location, a $50 minimum deposit is required. Location and business type restrictions may apply and offer not available to employees of SouthState Bank, N.A. or its subsidiaries. Offer is limited to one per business, cannot be combined with any other business checking or deposit offer, or reproduced, purchased, sold, transferred or traded. SouthState reserves the right to modify or discontinue the offer at any time without notice.
    • Eligibility & Qualifications: To receive the $400 bonus, you must meet the following criteria:
      At account opening, the business cannot have another SouthState business/commercial checking account, or have had a SouthState business/commercial checking account in the past 12 months.
    • Within 90 calendar days of either the date the account is opened or the next business day if opened on a non-business day, you must have:
      • – 15 or more posted and cleared debit card purchases/payments from the account; OR
      • – Cumulative ACH credits of at least $5,000. (Note: Internal account transfers, mobile deposits, debit card deposits, and deposits made at a banking location or ATM do not qualify as an ACH Credit for purposes of this promotion.
  • Your account must be open with no changes to the product type (i.e. Small Business Checking, Business Gold Checking, Community Checking, Commercial Checking, etc.) at the time of payment.
  • Promotional Bonus Payment: If you meet all of the Eligibility and Qualifications above, we will post the $400 bonus to your account within 2 business days of the completion of the 90 calendar day qualifying period. The bonus will be reported to the appropriate taxing authorities, as required by law or regulation.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Small business checking account has no monthly fees.

Early Account Termination Fee

$25 if closed within 90 days.

Our Verdict

There is also a $200 personal checking bonus as well that doesn’t require a direct deposit. Definitely worth doing but not sure what business documents are required.

Hat tip to reader Gadget

Useful posts regarding bank bonuses:
    William Charles
  • On January 30, 2024, 12:00
Tags: al bank bonusescredit card fundingdirect deposit not requiredfl bank bonusesga bank bonusesnc bank bonusessc bank bonusessoft pullva bank bonuses

View Comments (67)

  • Got denied in branch due to Chex. Banker printed out my report showing 45 banks opened, and said the bank views me as a "liability" thus no go. Can't win em all I suppose

    • Update to my comment above, I went to another branch, and was able to open it with no issues. My mistake was calling last week to set up and appt, the branch manager was the one who set up my appt, and was also the same one who opened my personal acc last year. She was the one who brought the stack of chex reports to the first banker this morning. Maybe she remembered me & did some research before I came in who knows. The second branch never asked about my Chex, she was also able to attach the promo with no issues.

  • My $400 bonus was deposited yesterday. Waited full 90 days. By for the easiest bonus for this amount of money I've done. Only the Wells Fargo business one from years ago compares but I missed out on it. 15 debit card purchases. I did $1 Amazon reloads.

    • Mine did too. See my thread below for details on data point.

      Very easy but I agree the WFC $1500 bonus was an insane deal 2 years ago. Don't think I'll ever see something quite like it (one can hope!)

      • Opened account February 1st did debit card purchases in the month. May 2nd received bonus.

  • Just got a letter in the mail saying SouthState had a data breach on 2/7/24, and it included social security numbers. Unfortunately, it's affected all my family members. Watch out with this bank. They're only offering one year of credit protection and didn't even say sorry. It feels like they're trying to brush it off like it's not a big deal, but I think it's very serious.

    • You don't think there are lists of SSNs available that include pretty much everyone already? An SSN is not a secure piece of data.

      • I also got the letter @guest_1835670 @guest_1825289, it also stated that the ssn AND account numbers were compromised. Account numbers are supposed to be very secure pieces of data.

        Actually got three letters in one day, one for me and two for old residents that moved out a few years ago. Must've never changed their address with the bank.

  • Opened today at my local branch in Florida. It was pretty easy and only took about 30 minutes. I do have an LLC and an EIN number so can't add anything for you sole props. Funded with $50 cash and they printed me a debit card on the spot.

  • No luck opening in branch from out of state. Banker okay with sole prop but says it must be registered in state and have local mailing address.

  • Tried to apply in branch and "the system was down" per the business rep. I emailed my EIN form (sole prop) and 3 months of statements from my AMEX business checking and the rep said I could come in and sign the application later that week.

    A week later and I finally get an email saying I am not eligible for this account because my business is online (eBay and online sales).

    • Update: I probed some more about opening with another business type and was told that I am no longer able to open a personal or business account in the future with South state.

      I've churned the personal checking twice in the past.

  • I just received my call as well. They said I'll need a DBA document, valid Driver's License, and SSN (EIN preferred) to open the account. I mentioned sole proprietor. Correct me if I'm wrong, you don't register with the Sec of State in Georgia for sole proprietor so you can't get a DBA.

  • I went in branch today (in Georgia) to try to open the account. Unable to do so even as sole prop b/c they require business documents.

    • I was able to do it as a sole proprietorship with a recent bank statement. YMMV but I called to confirm before going in and it was painless when I went in with my sole prop.

      • I went to one southstate bank and they wouldn’t let me open as a sole prop without DBA. Even though I had local city Business Tax Receipt. I went to a different branch and they let me open. So it’s YMMV and just based on if banker knows enough or calls the back office who knows more (not just manager on site.)

    • Same for me. Went into a branch and was told they need 'business documents' to open this account. They were nice when I explained there is no such thing for a sole prop but just shrugged their shoulders.

      • Would a recent bank statement mentioning the sole proprietorship DBA name work? If you have another business bank account, that is…

        • No. They said they could only do it with "business documents". I brought a business bank statement but it didn't matter. They also said they require it to be opened with EIN and the letter from the IRS issuing the EIN.

      • I have no documents. Only other bank I've run into this issue with is Synovus, who won't open for sole prop at all.

Leave a Comment