[NC only] North State Bank $450 Business Checking Bonus

Offer at a glance

• Maximum bonus amount: $450
• Availability: Doesn’t seem to be anyway to open online and all branches are in NC [Branch locator]
• Direct deposit required: Optional
• Additional requirements: 50 transactions
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: $16
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Receive a sign up bonus of $450 when you open a new North State Bank performance business checking account and complete the following between 90 to 180 days following the account opening date:
  • Complete 50 or more transactions in a statement cycle. Transaction include:
    • debit cards transactions, ACH debits and credits, and deposits and payments made through Online Banking

The Fine Print

• Bonus is paid after the following requirement is met during one of the statement cycles between 90 to 180 days following the account opening date: 50 or more transactions in a statement cycle, including: debit cards transactions, ACH debits and credits, and deposits and payments made through Online Banking.
• Account Opening Bonus subject to change without notice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

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

Performance Business Checking – $16

This account has a $16 monthly maintenance fee that is waived if you do either of the following:

• Maintain $3,000 monthly average balance
• Maintain $40,000 average combined loan balances

Our Verdict

Obviously a massive bonus, shame it’s in branch only. Will be interesting to see what sort of business documents they require and what the opening process is like (including if it’s a hard/soft pull on your personal report). Keep in mind you need to complete the requirements between 90 and 180 days and within one statement cycle (e.g you can’t meet the requirements in the first 90 days) bit of an annoying rule but still very manageable considering debit card transactions are accepted. Will probably be adding this to our best business checking bonus list once we find out more.

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?
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• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications