Update 1/18/25: Extended to March 31, 2025. Lowest tier is now $500 (was $400). $900 bonus now only requires a $25,000 bonus instead of $30,000.
Offer at a glance
- Maximum bonus amount:Â $900
- Availability:Â Nationwide (excludes NY & FL and any other state without a branch unless you have an existing relationship)
- Direct deposit required:Â None
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems:Â Mixed data points
- Credit card funding:Â Can fund up to $3,000 with a credit card
- Monthly fees:Â None with paperless statements
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â January 15, 2025
Contents
The Offer
- U.S. Bank is offering a bonus of up to $900 when you open a new business checking account when you use promo code Q1AFL25.Â
- Earn $900 when you open a Platinum Business Checking Account package
- Deposit at least $25,000 in new money within 30 days of account opening
- Maintain at least that balance for 60 days after opening the account
- Earn $400 when you open a Silver Business Checking Account package
- Deposit at least $5,000 in new money within 30 days of account opening (Silver or Business Essentials)
- Maintain at least that balance for 60 days after opening the account
- Earn $900 when you open a Platinum Business Checking Account package
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
- Silver account has no monthly fees to worry about as long as you opt in for paperless statements.
- Platinum account has a $30 monthly fee, this is waived if you
- Â An active U.S. Bank Payment Solutions Merchant Account or
- $25,000 average collected checking balance $75,000 combined average collected business deposits and outstanding business credit balances
Early Account Termination Fee
There is no early account termination fee to worry about
Our Verdict
Previously there was a $800 business checking bonus with the same requirements as the current $900 bonus but it only required a silver account which is much easier to keep fee free. Because of that I think the old $800 bonus is actually better. That being said the new $400 bonus is the exact same requirements as the old $300 bonus with the same account needing to be opened so that is an improvement and worth doing. Given the churn period is now only 12 months I do think the $400 bonus is worth doing and we will add it to our best business bank bonus page.
Hat tip to reader Jack
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
I did this bonus in April 2024. I kept it open so that I could open/fund biz savings accounts, but I’m not sure why I thought that was necessary. No reason not to close the biz checking now and re-set my clock, right? And closing this will have no negative impact on future CC apps, right? I got a Triple Cash a couple of months ago.
close it
Has anyone who completed this last year receive 1099-INT for 2024? Received for personal but not for biz.
Mine showed up a couple of days ago. Since I closed my personal checking, they’ll mail that one to me.
Thanks. I closed biz a/c, so hopefully it will come in mail.
Never applied for a biz checking. How hard/easy is the process for someone who has a “business”? TIA
Not hard at all. Very similar to other banks.
You seem to imply that you need both 25,000 average collected balance AND 75,000 combined average collected business deposit
Please update for for fee waiver to 3 options:
DP: Used BofA Business Advantage Unlimited Cash Rewards to fund on opening. Posted as purchase. Had cash advance limit set at zero.
It seems like Amex cards without Cash Advance function, such a Amex blue business cash credit card, can’t be used to do cc funds?
That is my theory, too. I’m testing it currently and will have a DP in a few days if I get approved.
Failed Amex biz credit card funding DP: Delta Biz Gold
I first enabled cash advance via a rep, and made sure that my CA limit was at least 3k. I was able to view this online (under “View APR”, there is now another line item for Cash Advance). The $1 charge went through, but not the 2900. When I got this notification from USB, I chatted with an Amex rep, who told me that the charge was over my daily CA limit of $100, and that’s why it was declined.
In theory, if I had charged $99 or less, it would have gone through. It wasn’t worth it for me to test further so I used my BoA CCR instead.
lolo
So just to be clear and certain… the churning language only applies to business accounts (not consumer accounts) that were closed in the last 12 months? I’m concerned the Smartly Checking account I closed in June 2024 will disqualify me from the promo.
“Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.”
Your business is the customer, not you. Even for sole props, your business counts as the customer. Your business never had a personal checking account.
I opened before 1/15 previous offer deadline to take $400/ deposit $5000 offer; Offer not dead but changed to $500 ….any change I can ask US BANK to match?
thanks
Can you ask? Of course! Will they do it…? No one knows yet. We don’t have any DPs yet, so be the DP you want to see.
I’m in the same situation. I asked twice — by phone and chat. Both said they can only add a promo and not change it. Phone rep told me to look on the bright side because the promo could have gone down instead of up… except it didn’t! 🙂
Does anyone know if there’s a way to hold the funds in some kind of money market funds / HYSA within USBank [connected to the biz checking account] and still earn the bonus? Or does it need to be low APY cash for the 30 days?
Holding in MM this way seemed to be possible for citi biz checking promos, not sure about USBank.
Can you churn?
Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.