U.S. Bank $400/$900 Business Checking Bonus

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

The Offer

Direct link to 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

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:
    William Charles
  • On October 2, 2024, 14:00
Tags: credit card fundingdirect deposit not requirednationwide bank bonusessoft pull

View Comments (22)

  • Beware! Used 3k card funding for this USB offer using Chase cc. Promptly got all my Chase accounts shutdown last week. Oh well, another day in paradise.

  • Heads up, if you get a call from a random number asking about identity verification(mine came from Idaho), it's legit, US Bank seems to use a third party company or something to verify new accounts for them if any identity questions arise. They've asked me before for me to send over my DL(via fax or snail mail....), and also when I opened a CD for P2 to keep her in US Bank's system for future bonuses.

  • Surprised that I went into application review after submitting though I did submit as a Single Member LLC with a EIN this time. Perhaps Sole-Proprietors may have an easier chance of approval. Love that the $3,000 credit card funding is still valid with US Bank! The $400 bonus is definitely the better play.

  • I know someone will surely know the answer to this
    How much INT am I going to lose out on if I go for the platinum instead of keeping 30K for 60 days in a HYSA given that rates have fallen to let's say r = 4.5% ?

  • How is the churn period decided for usbank?

    2023-04-24 Opened usbank business checking 
    2023-07-18 Received $750 bonus 
    2024-08-16 Closed usbank business checking 

    Am I supposed to wait until 2025-09 ?

    • Answering my own question,

      Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

  • Wow, denied. Not sure why. P2 has not opened an account in awhile. Just got an email saying they need more information, anyone have this happen before? What might they want?

    • usually it's just identity verification. with us bank once i literally just had to call and have them send a security code text. there's a possibility they want more concrete biz documents but more often than not, identity verification. i'd suggest calling

  • I've had problems in the past transferring money from personal to business accounts. Would rather not go into the bank with $5,000 cash. Does anyone know what personal accounts allow this? Also, does credit card funding count as new money?

    • I've had no issues pushing funds from Fidelity CMA. SoFi works as well.

      Prior DPs say that they were told the CC funding does count, but I don't chance it and assume it doesn't. Pull the $3k out a couple days after it posts, then leave the account nearly empty till close to the 30 day mark.

    • Amex business checking works pretty well as a medium between personal and business checking. Fast transfer times, high limits, and a bonus for accounts too

    • I've legit walked into major banks before with tens of thousands in cash and the bankers didn't bat an eye. Just look the part and you'll be fine.

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