Deal has ended, view more bank account bonuses by clicking here. There is a $800 bonus here.
Update 6/30/23: Extended until August 31, 2023
Offer at a glance
- Maximum bonus amount: $750
- 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:June 30, 2023
Contents
The Offer
- U.S. Bank is offering a bonus of up to $750 when you open a new Silver, Gold or Platinum Business Checking account and complete the following requirements:
- Use promo code Q2BUS23
- Enroll In the U.S. Bank Mobile App or U.S. Bank Online Banking within 60 days of account opening.
- Bonus:
- Earn $500 when you deposit $5,000
- Earn $750 when you deposit $15,000
The Fine Print
- Promo code Q2BUS23 MUST be used when opening the business checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open a U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account.
- Earn your $500 Business Checking bonus by opening a new U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account between 04/24/2023 and 06/30/2023. You must make new deposit(s) of at least $5,000 in new money deposits (Direct Deposits, ATM/Branch Deposits, Mobile Check Deposit, ACH or Wires) within 30 days of account opening and thereafter maintain a balance of at least $5,000 until the 60th day after account opening.
- Earn your $750 Business Checking bonus by opening a U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account between 04/24/2023 and 06/30/2023. You must make new deposit(s) of at least $15,000 in new money deposits (Direct Deposits, ATM/Branch Deposits, Mobile Check Deposit, ACH or Wires) within 30 days of account opening and thereafter maintain a balance of at least $15,000 until the 60th day after account opening.
- An individual signer on the new checking account must be enrolled in U.S. Bank online banking or the U.S. Bank Mobile App using their business profile within 60 days of account opening.
- The new money deposit cannot be funds held by U.S. Bank or its affiliates. The business checking bonus will be deposited into your new U.S. Bank Business Checking account within 45 days of balance verification, as long as the account is open and has a positive balance. Offer may not be combined with any other business checking account bonus offers. Offer is not valid if you or any signer on the new business checking account have an existing U.S. Bank Business Checking account or had a U.S. Bank Business Checking account in the last 24 months.
- 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.
Early Account Termination Fee
There is no early account termination fee to worry about
Our Verdict
Requires a bigger deposit than the $500 bonus, it’s for an extra $250. You do need to maintain the funds for 60 days but the opportunity cost of putting the extra $12,000 in is only ~$100 when comparing to a 5% account so this bigger bonus is worth doing if you have the spare funds and we will add this to the best bank bonuses.
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 used this link : https://www.usbank.com/affiliate/business-checking/online-banking-bonus-a.html?cjdata=MXxOfDB8WXww&ecid=AF_55055&AID=15414290&PID=2737553&cjevent=a554a4b4ab4811ee81a500230a82b821&referral=commissionjunction
and promo code: Q1AFL24
Fine print reqs $800 for $25k deposited within 30 days of opening held until the 60th day of account opening – so If am understanding correctly you only need to hold the funds for 30 days. This is effectively 38.4% APY for 30 days (3.2% x 12)
https://www.doctorofcredit.com/u-s-bank-800-business-checking-bonus/
I think its hold for 60 days after the 30 days of opening. Can anyone chime in?
I would send a secure message to the bank asking to clarify so if they play games later you can file a complaint
Applied online with their promo code: “Q1AFL24” for the $800 bonus. Declined. Last churned >24 months ago so I would be eligible. Put Sole prop and gave my DBA. Not sure why decline – they chex senstive? Even for a business account?
Scratch that. Called in and they requested DBA and I sent and they approved.
What a ride (previous DPs and dates are earlier in this post):
2023/11/06: Called the national US Bank customer service line. They said I never entered the promo code.
2023/11/07: Called the national line again, got a different rep. This one said I had met all the requirements, and that they would “submit an exception”. They said I would see the bonus within 1-2 weeks.
2023/12/20: Still no bonus.
2023/12/21: Called in to the closest branch. They said that if I could verify that I had entered the promo code, they would escalate the issue. I emailed them my screenshot of the promo code field with the promo code I had used (“2HBonus”) in the field.
2023/12/22: The branch rep got back to me, said the issue had been escalated.
2023/01/06: Still no bonus. Emailed the same branch rep, they said “Since it is an expired promotion, it is taking some time to get results”.
2024/01/29: Filed a CFPB complaint. Included all of the resources I had (screenshots of the promo code, terms, email correspondance, etc.).
2024/01/30: Received a call from the same branch, different rep. They said that since I didn’t create a business login within the allotted time, I didn’t qualify for the bonus.
2024/02/06: “Adjusted Interest” posts ($750).
2024/02/12: Received an email from the CFPB, “The company has responded that it is still working on your issue”.
I had all but given up on this bonus, but logged in just now to see the $750 deposit at last. What a surprise.
I will be donating a portion of this bonus to the WayBack Machine, since a screenshot of the “2HBonus” terms posted there came in handy. I will also be improving my own efforts of taking screenshots, etc. Thank you as always, Doc.
This institution is absolutely pathetic. I was going through my 1099’s in prep for tax season and noticed an “analysis service charge” that was recently assessed against my remaining balance (I prefer to have at least two close-by B&M options available). A quick Google search yielded that this is quite the common practice by these shysters and it is “a fee based on your business banking transactions and activities from the previous month.” Do you know what business banking transaction I made in the past month? A single cash deposit, in-person, at a branch. Needless to say, I have closed the account out less than 24 hours later. I’m so glad I took them for this $750 bonus and gave them absolutely no wiggle room to use my money other than what they could have per the bare minimum requirements.
Filed a CFPB complaint. Heard back from US Bank, the letter stating that the account must have been opened before July 1 (offer expired 6/30/23 per their letter). Filing another complaint that the offer was extended
Don’t back down. I had to make several calls, emails, and finally tweet them about it (after being told twice that I wasn’t getting the bonus!) before they relented. I also said I would write corporate, the BBB and the Attorney General about my displeasure. They’re pulling one over on us!
Received a response from US Bank for the second complaint I filed with the CFPB, they’re saying that there was no extension had you had to open the account on or before 6/30/23.
Anyone have a screen shot they can send with the offer details that has the extension?
so you ended up getting it, bridget? i never got mine but i plan to call them tomorrow.
Also wondering if anyone has screenshot as Bus23 mentioned. I could not provide an evidence to fight with customer service 🙁 They kept looping that it has expired
I’ve been battling them on and off for the past several months to no avail. After discovering that archive of the promotion, I’ll start anew. Hope it helps.
A good lesson that it’s always a good idea to take screenshots.
What promo code did you all use? Q2BUS23 did expire 6/30 as Lynn is experiencing. On that day a new offer (2HBonus) with identical terms became available, but technically it is a different offer rather than an extension of the expired one.
I applied in early July 2023 and used “2HBonus”. Account was opened and approved on July 15th. So right around when the offer/code changed, for better or worse.
Frazz, thank you, this is great! No luck with CFPB (US Bank made no mention of the extension), going to file a complaint to the regulator.
Then I guess I will have no luck :'(
Cause I used “Q2BUS23” to open an account in August after seeing this DOC post showing it got extended to Aug 31st.
Looks like there is no screenshot of US Bank website saying Q2BUS23 got extended, I feel like I literally have no luck with getting the reward…(sad)
I have the landing page with that offer code, but it says good through june 30, 2023. I opened the acct sometime in may 2023.
I finally got it on 2023/02/06. I had all but given up on it. I ended up filing a CFPB complaint in late January. The bank called me the next day saying that I created a business login too late. Logged in just now randomly and the $750 is there.
8/14 – Opened account and ultimately fulfilled all funding criteria
12/15 – Called US bank rep to ask where my bonus was. He agreed with the above and typed up a lengthy request to send upstairs. He noted that terms did require setting up online or app access to the business account. But I said the business account automatically generated within my existing online personal banking profile. He agreed with me, but said that might have had a bearing on nonpayment (to date).
DP for the newer $800 for $25k deposit (also posted on other page):
Opened 9/12/23 – $3k CC funding with CIP (coded as purchase)
Transfer $25k 10/6/23 (kept $25k in entire time)
Withdraw $2,990 11/3/23 from initial $3k funding (remaining balance $25,010)
$800 Bonus Post 12/7/23
I saw the code Q2BUS23 got extended to Aug 31st so I opened an account in August, transferred 5K, kept for 60 days. Called customer service and he verified I am all good.
Today (Dec 6th) I called customer service to ask for the bonus, he said this code is for Q2 only, which means you need to open account by the end on June, so you are not qualified for the bonus.
I feel like I got scammed.
FYI.
Oh yeah you need to call right back. The same thing happened to me just now. A (clearly outsourced to another country) rep gave me the runaround for 10 minutes, telling me it expired in June and I wasn’t eligible. I told her that was incorrect and that I’d like to speak with a supervisor. She said “no no let me see if I can find you a similar offer…” and put me on hold. She came back and said “I’m still looking” so I asked for a supervisor again and she said “they won’t be able to help you any more than I can” and I insisted. She hung up on me. I called back and got a very competent rep who reviewed my account, told me I met all the requirements, and that she’d reach out to the business department to find out what happened and when that bonus would hit. Took about 2 minutes.
Call back. Your rep was wrong.
Update: after leaving feedback on their follow up to my calls, a client rep called and said the second US bank rep was incorrect and I would not be getting my bonus because…the funds needed to be new to US bank. Which mine were. So I told her that – and she said “oh, you’re right.” Would have taken her 10 seconds to see that before she called me, so it now seems that they are looking for any excuse to not pay. She said she would follow up with me next week when she “gets more information.”
Not resting til I get this bonus people!
8/21/23 opened +$100
9/8 +$15k
10/25 -$15k, kept positive balance
11/28 no bonus as of yet, chatted with live agent got this response
“After the initial 60 days have lapsed it can take an additional 60 days for deposit verification and enrollment to be completed. The latest date you will see the bonus deposit if all requirements have been meet is December 19th, 2023.”
Opened account 8/29/23, deposited 15k by 9/20. Still no bonus, and it looks like most people with a similar timeframe received their bonus 11/8. How much longer should I wait before I call them?
Did you ever get it? I’m still waiting on mine and have a similar timeline as yourself.
Nope. I think they have 45 days technically so I’m going to wait to call after day 45. I know I signed up with the code because I called them to verify. I’ll keep you posted.