Update 4/6/25: extended to 6/30/25. Promo code: Q2DIG25
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: $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 Q1AFL25.
- 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
- Complete 5 qualifying transactions.
- 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
- Complete 5 qualifying transactions.
- 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
My account was opened with the $400 promo on Jan 3rd (the promo did not require 5 transactions).
01/03: $100 opening deposit
1/16: 5000 new money deposit from external account (not US Bank account)
3/10: $5050 withdraw
today is 4/9. Still no bonus.
Anyone opened their account around 1/3 and got their bonuses?
Opened the account with the $900 promo on 1/2 and no bonus yet.
Applied a day after the transactions change and didn’t notice. Wonder if their system didn’t update and will still end up paying out. Fingers crossed for a miracle… looks like this change got a lot of people disqualified for the bonus.
I don’t want to burst your bubble, but it’s unlikely. The promo code changes with each iteration, and the requirements would be tied to the code.
They pulled a lil sneaky for sure. I’ve decided to add to my tracking system by printing out terms, breaking out the highlighter and taping them to my whiteboard. Plenty to churn with USB anyways
been getting mixed messages from us bank via chat on when bonus post
p1, opened 1/21, deposited $5k on 2/4. one rep said by end of march it’ll be deposited, another rep said end of june
p2 is similar dates, still no bonus
Did you complete the 5 qualifying transactions? The requirement was added to the Q1 iteration of the promo, which started on 1/16/2025.
Both CSRs are wrong. Your bonus is due by the 30th of the month following the month you met the requirements. Your 60th day was in March, so your bonus is due by 4/30.
Aside from inconsistent DPs in January, recent DPs show bonuses are posted in batches on the first/second Friday of the month they’re due. I haven’t seen any bonuses this month, so I’d guess they’ll post on 4/11.
yes completed 5 debit card purchases. thanks for the feedback, we shall see =)
>>us bank via chat
hmmm. there’s is a chat function?
I don’t see any in my account.
Any insight or commentary re: two different promo codes (at least) circulating for what appears to be same campaign?
Code Q2DIG25: https://www.usbank.com/splash/business-checking/business-checking-promo.html
Note: the DoC link is similar but has “affiliate” in the web address
The terms are the same for both codes, but the splash page is ever so slightly different. The same two webpages were used for the Q4 2024 iterations.
If I had to guess, the affiliate version was probably advertised somewhere and the URL got passed along to DoC.
When you search Google, you get the vanilla URL. I’ve also received advertisements from USB with the vanilla URL for both iterations.
To avoid MF, it states, “$25,000 average collected checking balance.”
Does this just mean a daily balance of 25k?
Is it possible to downgrade to Silver after 60 days, while waiting for the bonus, in order to avoid the monthly fee?
Silver has been replaced by Business Essentials. Per #2038292 , downgrades are not allowed.
Thanks!
If I keep 25k daily, will that avoid the MF? The wording is throwing me off lol.
The ledger (or current) balance includes all transactions that have posted to the account. The collected balance is the ledger balance minus funds that have not been collected yet (e.g. checks deposited).
The average collected balance is the sum of the collected balances at the end of each business day in the period, divided by the number of days in the period. So basically it’s your average daily balance, excluding uncollected funds.
$25k daily minimum will avoid the fee, but make sure you only count collected funds. Depositing checks or pulling funds into the account for the initial $25k will make it complicated. I’m also unsure when the initial CC funding counts as collected. Internal transfers, pushes into the account, and cash deposits will all be collected the day they post.
Also, don’t forget to account for any days the balance was under $25k. For example, if the month has 30 days, and your balance is $0 for the first 2 days, then you would need $26,786 for the remaining 28 days.
Oh, also internal transfers won’t count as new money for the $25k bonus deposit requirement.
Any data points in payouts? I only see they paid on 3/7
Any recent DPs on funding with AMEX CC?
No news is good news for this one. Still working.
Any recent DPs on funding with AMEX CC?
Quick question: can I use PayPal or chime deposits to receive the bonus from Cap 1 360 checking account?
What are the ramifications of opening a business savings and/or checking account(s)? I’m not sure if I’ll actually use the bank accounts much with the way my business is currently set up but open to changing things if I had to.