[Accounts Closed] Nearside Small Business Checking 50 Bonus + 2.2% Cashback

Update 11/23/22: Nearside is closing down. More details can be found here.

Update 4/24/22: The $64 Swagbucks deal is dead, but you can still get $50 referral bonus + $40 deposit bonus (4/30/22: $40 deposit might be dead).

Update 4/19/22: Nearside has added the ability to add funds via debit cards for a 1% fee (Transfer Funds > Instant Deposit). Limit of $200 per transaction and $500 per seven day period.  Apparently this was always an option and only the 1% fee is new. Hat tip to WeMustStopKony

Update 3/29/22: Nearside is now showing up  on Swagbucks Revenue Universe at $64.80. That’s better than the $50 referral link. (Maybe there’s some way to stack it together.) This also stacks with the $40 bonus when you deposit $200 in your initial deposit. Total $104 bonus.

Update 1/13/22: Nearside has gotten rid of the 1-5% at select merchants and is instead offering 2.2% back on all purchases. Nearside says this will be through 2022, but can’t see it lasting that long.

Update 1/2/22: Looks like the extra 20% is available to all new account holders. Hat tip to ShawntheShawn

Update: Some people are being offered an extra 20% back on your first deposit of up to $200 ($40 maximum bonus).

 

Offer at a glance

• Maximum bonus amount: $50
• Availability: Nationwide
• Direct deposit required: No
• Additional requirements: Spend $100 on the debit card within 30 days of account opening
• Hard/soft pull: Soft pull
• ChexSystems: None
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None

The Offer

No direct link to offer, requires referral. Share your referrals here. Referral link doesn’t mention the $50, but this article does.

• Nearside is offering a referral bonus of $50 when you open a new small business checking account and complete the following requirements:
  • Spend $100 on your Nearside debit card within 30 days of account opening
• Account also earns 1% cash back on all purchases and up to 5% at select merchants Account also earns 2.2% cash back on all purchases

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

I wasn’t able to find the fee schedule so unsure if there is any EATF.

Our Verdict

Nearside used to be called Hatch but recently rebranded. They just raised another $58 million in VC. The bonus is so so, but the 1%-6% back on purchases seems interesting. Some interesting options: 1% back at Amazon & Walmart and 2% back at Best Buy.

Hat tip to reader Arthur P (their referral link)

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
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• Bank Bonus Posting Times