[Expired] SunTrust Business Checking $200 Bonus + $200 Merchant Services Bonus [AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only]

There is now a new offer for $400, you can also view the best business bank bonuses by going here.

Offer was extended and you now get $200 for activating merchant services instead of the previous $100.

Offer at a glance

• Maximum bonus amount: $400
• Availability: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington D.C., and West Virginia only
• Direct deposit required: Yes, $1,000+
• Additional requirements: Yes, see below
• Hard/soft pull: Soft
• Credit card funding: Personal accounts can be funded up to $1,000, presumably business accounts are the same
• Monthly fees:
• Early account termination fee: 20 weeks otherwise bonus is forfeit
• Expiration date: October 15th, 2015 December 30th, 2015

The Offer

Direct link to offer

• Open a SunTrust Business checking account with the promotional code SB15Q4WELCOME and earn up to $400, broken down as follows:
  • Earn $200 when you:
    • Make $1,000 in qualifying deposits or more into the new account within 30 days of opening
    • Register for and activate Online Cash Manager with at least one sign on within 30 days of opening the account
    • Register and enroll in the My SunTrust Offers portal (suntrust.com/myoffers) by December, 30 using Promo Code SB15Q4WELCOME
  • Earn $200 when you Open an active & processing Merchant Services account within 30 days of opening the linked SunTrust business checking account

 

The Fine Print

• Your business checking account must remain open and in good standing with a positive balance during the up to 20 week period in which your reward will be processed
• Your reward will be credited to the checking account between 10 -20 weeks after all qualifications and qualifying events applicable to your situation are verified
• Only one incentive per TIN or EIN is eligible for the promotion
• SunTrust clients who already have a business checking account with SunTrust (as a primary or secondary account holder) are not eligible for this promotion
• SunTrust clients who closed a business checking account within 30 days of the promotion start date are also not eligible for this promotion
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The easiest bank account to keep fee free is the Primary Business Checking, you need a minimum average balance of $1,500. Your account needs to be kept open for 20 weeks (or until you receive the bonus) to avoid any early account termination fee.

Our Verdict

Good bonus with pretty easy to meet requirements, probably not worth opening the merchant services account unless you actually need one. You can find out more about their merchant services here. If I lived within the service area I’d definitely be jumping on this deal, because of that I’ve added it to our best business checking bonuses page.

It can also be seen on our complete list of checking account promotions here. There is also a personal bonus of up to $200 that SunTrust is currently offering, so remember to jump on that if you’re within the service area.

Direct link to offer | Screenshot of offer

Hat tip to Maximizing Money