Offer at a glance
- Maximum bonus amount: $900
- Availability: Nationwide (excludes NY & FL and any other state without a branch unless you have an existing relationship)
- Direct deposit required: None
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Mixed data points
- Credit card funding: Can fund up to $3,000 with a credit card
- Monthly fees: None with paperless statements
- Early account termination fee: None
- Household limit: None
- Expiration date: 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 Q4AFL24.
- Earn $900 when you open a Platinum Business Checking Account package
- Deposit at least $30,000 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
- 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
So when I was setting up my Triple Cash Rewards cc it asked me if I wanted to open a biz checking account. Looked like the same terms but with a different code. I guess because it was linked to a current business card holder?
It also asked if I wanted to open other business accounts – a money market, savings or checking. Anyone else run into this?
Could they all be funded with $3k on a cc?
Why would it offer me the option to open another biz checking account?
Are there ever any promos for opening up these accounts?
What’s the upsides/downsides to opening up additional accounts, other than maybe cc funding and maybe credit hits?
There are at least two current promo codes that I know of. Q4AFL24 is the affiliate code, and Q4DIY24 is the “regular” code. Both terms are the same. I was “targeted” with the latter via email, but it doesn’t have targeted terms.
Yes.
Yes, but IIRC it’s $3k max per application so you would have to apply separately.
Why wouldn’t it?
You can easily answer your own question here by searching DoC for “U.S. Bank Business”.
Not really any other pros. As far as cons, the savings/MM have monthly fees that can only be waived with minimum balances and they have low interest rates. AFAIK they don’t have ETFs, but you may not want to close before 6 months because they do report to EWS (at least for sole props).
How much time do I have for credit card funding after I opened the account?
30 days.
Need some help to figure out when I can withdraw funds from the account
10/11/24: Applied
10/16/24: Account Opened with $3K credit card funding
11/07/24: Deposited additional $28K
No bonus yet. When can I withdraw funds and still expect to get the bonus
60 days from account opening date of 10/16/2024 is 12/15/2024, then you can withdraw, if I read the terms correctly.
Question:
Previously opened an US Bank Business account under sole prop with social.
(account still open, less than 12 mo ago)
If I apply with an LLC with EIN this time, is it possible to churn?
TIA
#1930170 timeline
Tyrone Danger
#1969995 similar
plz help, TIA
Applied and approved on 12/19. I plan to fund the 30k on 1/15. Do I need to leave the 30k in there for an additional 60 days from 1/15? Or the 30k just need to be there from 1/15 to 2/19?
“You must make deposit(s) of at least $30,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $30,000 until the 60th day after account opening”
I’d say 2/19 but could be wrong since the word thereafter
most dp shows indeed is “60th day after account opening”
Oct 9 open usbank business checking/saving
Oct 28 fidelity pushed 30K to checking, pushed 5K to saving
Dec 17, not received bonus yet
They have until the end of January to pay you.
How quickly will they post the credit? I have more than $5000 in the account since 10/11. Still waiting for the bonus..
From the terms:
The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
I believe others have mentioned double dipping with a SSN and EIN before, but I have another successful data point to contribute.
05/21/2024: Account opened (SSN, sole prop), $3k funded with Chase Sapphire Preferred
08/XX/2024: I don’t have the date in my spreadsheet, but the bonus posted.
10/15/2024: Account closed
09/20/24: Account opened (EIN, sole prop), $3k funded with Chase Ink Unlimited. Still opened as a sole prop, but they wanted some more information such as a business lease. I just submitted a document stating I am a sole proprietor and operate from my home.
10/10/24: Deposited $5000 in new cash
12/09/24: Withdrew $5000
12/12/24: Bonus posted, “Adjusted Interest”
Similar timeline (deposited 10/8/24 two days before you)- No bonus yet
Did you open the second account as an “current US Bank customer”? or did you apply with all new email phone numbers as a non current customer?
yeah I have the same question.
So I think I messed this up. Opened account 10/17, finished transferring 30,001 on 11/14, but…
On 12/13/24, I was assessed a $30 service charge, which brought the balance to $29,971. I pushed another $50 in on 12/14, but I don’t expect it to save me.
PSA: push in 30,050 or you might lose $900!
Don’t despair, I had pretty much the same thing happen a few months ago and still got the bonus. It was a $800 bonus for $25k at that time. I wired in the exact amount needed and it never occurred to me that I would get charged a fee for the incoming wire transfer.
That’s good to hear, Samuel. I called in to complain about the $30 fee and got it reversed, but it will take a couple of business days for it to be turned around. (It turns out, the reason I got charged is because US Bank uses calendar months for statement cycles on business accounts– a fact that I didn’t know bc I’m signed up for paper statements and any attempt to access an electronic statement via the website just returns a 400 Bad Request error– so my average collected balance for my second statement cycle was below the required $25k average).
I’ll obviously keep records and argue, should they deny the bonus when it comes due– but I realize it could go either way at this point.
I also got hit with the $30 fee. I opened account on 10/10, and on 12/13 I withdrew 30000 and only kept $10 there. I forgot the $30 fee. I immediately added money by zelle on 12/14, but it shows 12/16 since today is weekend. So the negative balance between 12/13 – 12/16 will probably mess up my promotion too.
Lesson learned to write down the requirements; otherwise after a few months it is easy to forget
I thought I had met the requirements, since there was more than needed in the account to avoid the fee. What I hadn’t counted on is that US Bank apparently determines statement cycles on business checking accounts by calendar month, which rendered incorrect my average daily collected balance accounting.
I opened platinum business account on 10/10 and deposited $30k before 11/30. On 12/23 I withdrew $30K and left $20 there. Today I found I was charged a $30 fee. Now my balance is -10. I called and was told this is because I opened the platinum account not the silver account. Any suggestions in this case? Shall I move some money in to wait for the $900 bonus? Will the negative balance void my promotion?