[Expired] [NY] Hudson Valley Federal Credit Union $250 Business Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $250
• Availability: In branch. Branches are in NY by the looks of it [Branch locations]
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: $20, 90 days
• Household limit: None
• Expiration date: None listed, but merchant services requirement must be completed by 12/30/23

The Offer

Direct link to offer

• Hudson Valley Credit Union is offering a bonus of $250 when you open a new business checking account and complete the following requirements:
  • Deposit a total of $2,500 or more into the new checking account within 30 days of account opening and maintain that balance for 60 days from the account opening date
  • Enroll in Merchant Services and use your new merchant account to process at least $100 in transactions by December 30, 2023

The Fine Print

• Checking offer is available to new and existing business members. Only one offer per business member.
• To receive the business checking offer: 1) Open: Visit a branch and open a new primary HVCU Value Business Checking or HVCU Enhanced Business Checking account. Members with an existing business checking account are not eligible to receive the promotional offer. Accounts are subject to approval.
• 2) Deposit a total of $2,500 or more into the new checking account within 30 days of account opening and maintain that balance for 60 days from the account opening date.
• 3) Enroll in Merchant Services and use your new merchant account to process at least $100 in transactions by December 30, 2023.
• After you have completed all the above checking requirements, we will deposit the $250 incentive offer into your new business checking account within 15 days.
• To receive this offer, your account must be open and in good standing (not over-the-limit or past due).
• Offer is good for one-time use.
• Employees of HVCU are not eligible.
• HVCU reserves the right to withdraw this offer at any time without notice. May be subject to IRS reporting. Consult a tax professional as to reporting requirements, as this offer is not intended to provide tax advice or guidance.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The beyond free checking account has no monthly fees to worry about.

Early Account Termination Fee

According to the fee schedule there is an early account termination fee of $20 if closed within 90 days of account opening.

Our Verdict

Not really worth considering due to the merchant services requirement (more on that here). Because of that we won’t add this to our list of the best business checking account bonuses.

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