This bonus has expired, but plenty of other great checking bonuses. Click here to view the best ones still active.
Offer at a glance
- Maximum bonus amount: $350
- Availability: Must open in branch, most locations are in Pennsylvania. I think there is one in Ohio. [Branch locations]
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $100 online, unsure if possible in branch
- Monthly fees: None
- Early account termination fee: Unsure but account must be kept open until February 15th, 2018
- Household limit: None listed
- Expiration date: November 30th, 2017
The Offer
- S&T Bank is offering a bonus of up to $350 when you open a new basic business account. Bonus is broken down as follows:
- $200 bonus: Open a new basic business checking account with a balance of $5,000 by November 30th, 2017
- $50 bonus: Add an S&T business debit card by December 20th, 2017
- $50 bonus: Enroll in Business Online Banking by December 20th, 2017 and remain active until February 10th, 2018
- $50 bonus: Open Remote Deposit Capture service by December 20th, 2017 and remain active until February 10th, 2018
The Fine Print
- To qualify for the $200 incentive, a new Basic Business Checking account must be opened with a $5,000 balance between November 1 and November 30, 2017. Business checking account must remain open with a positive balance in order for you to receive incentive, which will be credited to the eligible account by February 15, 2018.
- New account will not be eligible for offer if any signer has signing authority on an existing S&T Bank Business checking account or has closed an account within the past 90 days, or has been paid a promotional premium in the past 12 months. If multiple accounts are opened with the same signers, only one account will be eligible for the incentive.
- To qualify for the additional $50 rewards, business must apply, receive and activate an S&T Bank business debit card that is associated with the new Basic Business checking account by December 20, 2017
- When business enrolls new business checking account in Business Online Banking by December 20 and remains active until February 10, 2018, $50 incentive will be added to your incentive amount on February 15, 2018
- To receive additional $50 incentive offer for Remote Deposit Capture, business must open Remote Deposit Capture service by December 20, 2017 and remain active until February 10 to receive $50 incentive by February 15, 2018
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Account must be kept open until February 15th, 2018. This is when the bonus will post. The basic business account is a free checking account (up to 500 items per month). I’m unsure if there are any fees for remote deposit capture.
Our Verdict
Seems like a great deal if you live near a branch. None of the requirements are particularly hard to meet apart from the original deposit of $5,000. It looks like you can remove that initial deposit and still get the bonus as long as you maintain a positive balance (confirmed here). I’ll definitely be adding this to the best business checking bonuses. Please share your experiences going after this bonus in the comments below.
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
DP
11/29 – opened in branch w/ $5K
2/15 – $300 bonus paid ($200 opening + $50 debit card + $50 *free* business online banking [not the cost-per-month one!])
felt like forever, but the payoff? sooooooo worth it!
closing as soon as i get the best way to do that – SM, chat, phone? any ideas out there, folks?
Just realized today is the day they should have paid the bonus. Haven’t got anything yet though. Anyone else received the bonus?
Called today, rep said bonus would be credited by marketing dept by end on the day todayJoin the discussion
Still got nothing though, and today is 17th.
Opened account successfully with no documentation yesterday at a branch nearly 50 miles from me after being turned away by two closer branches before. Banker told me I’ll only get $250 since the $50 for online banking will require registration in the paid business online banking.
registered for the offer just under the deadline today.
no need for any documentation. they didn’t ask any questions about yearly net/gross/expenses, etc. i’m a sole proprietorship with my first/last name in the title. they used my SS#. easy-peasy.
my branch rep said she’s giving me the $50 credit for signing up for the “small business” online banking, which is the free version. Jeremy, i know you said your rep said we needed the “business” online banking with the $15/mo fee.
i guess we’ll see if i get that part of the bonus on 2/15 or not…
so it’s either $250 or $300.
I just opened one of these accounts in branch in PA this morning. It was pretty simple. No surprises. A few points of clarification. The person at my branch said $5k was required to open the account but that I could pull it out as soon as the next day. The bonus will be paid in mid-February and only requires that the account be at a positive balance. I plan to take out all but about $100 next week. Also, the remote deposit capture is a device that one rents from the bank and there is a fee for the service and for renting the unit so unless you need one, I would think of this as a $300 bonus rather than a $350 one. The person who opened my account ordered my debit card and signed me up for online banking during the account opening process. Pretty easy.
They are also currently offering free checks so they ordered a set for me. I typically decline ordering checks as I try to do everything electronically but I went ahead here since it was free.
Thanks, added that to the post.
If you don’t mind, what business documents did they ask for? I don’t have a proper business, but sometimes tutor students. Can I claim I’m a sole proprietor with no business docs and no DBA name? I’m curious to know what they’re asking for. Have opened Wells Fargo and Huntington seamlessly so far.
They did not ask me for any documentation. I do some computer consulting on the side. I was put down as a sole proprietorship. They did ask for a business name which I believe will appear on the debit card but I have a name I have used for 30 years so I used that, Easy as pie.
Went to my nearest branch today. Was told a business account will need an EIN and the business to be registered with the state. No go.
Second nearest branch is 40 miles away. I initially thought about driving, but then called before doing so. Was told to go to the nearest branch, where I already was turned away. 300 dollars down the drain 🙁
I had a similar experience to akaak. The only difference was I was told that there are two different types of online banking. A free consumer version that you can also see business accounts from and a business online banking. The business online banking is $15 a month. The terms of the bonus state you have to enroll in business online banking by 12/20 and remain active until 02/10/2018. The banker that I had also confirmed that the $15/month business online banking is the only one that will trigger the $50 online banking bonus. I figure this bonus is worth an easy $250 instead of $350 since the remote capture and business online banking has fees which almost outweigh the benefit.
Doc has already somewhat addressed this. I think he is of the belief that bonus are mostly equal throughout the country but people finding them and sharing them is not.
Yeah, some states are probably better than others but I’ve found the biggest difference is that some states have hardcore readers actively looking for bonuses. We used to post a lot of California bonuses for example, the reason was that was where I was living and I was looking for them hard. Now people from California complain because there isn’t many.
Doc, you should do an article about which state is the best in terms of getting these bonuses.
List it from best to worst. I want to know which state I should move to.
I live in PA and it seems like we are eligible for a lot of offers posted here.
Yeah. I noticed that
Lol
Live less than a mile from one of their branches, but my $5000 is tied up in CapOne and Huntington bonuses. Can do it on the 30th with $5000 when paycheck hits. Does an expiration of Nov 30 mean I can do it on 30th morning? If I deposit a check that day, the account opening may not be completed that day itself. What if I open on 30th with $5000 cash?
Morning of the 30th should be fine
Thanks William.
must locations are in Pennsylvania
You mean “most” right?
Yup, fixed.