[Expired] U.S. Bank $800 Business Checking Bonus

There is now a $900 bonus.

Update 9/3/24: Bonus is back, now requires $30,000 (previously $25,000).

Update 4/28/24: Terms now state:

This offer is only valid for new business checking customers, existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

Previously it was 24 months. Hat tip to Mark E

Update 4/24/24: Extended to August 30, 2024

Update 2/1/24: Extended until  April 23, 2024.

Update 1/9/24: Extended until January 31, 2024

Update 1/7/24: extended to 1/31

Offer at a glance

  • Maximum bonus amount: $800
  • 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: 1/8/2024

The Offer

Direct link to offer

  • U.S. Bank is offering a bonus of up to $800 when you open a new Silver, Gold or Platinum Business Checking account and complete the following requirements:
    • Use promo code Q3AFL24
    • Enroll In the U.S. Bank Mobile App or U.S. Bank Online Banking within 60 days of account opening.
    • Bonus:
      • Earn $300 when you deposit $5,000
      • Earn $800 when you deposit $30,000

 

The Fine Print

  • Promo code Q3AFL23 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.
  • Bonus Options
    • Earn your $350 Business Checking bonus by opening a new U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account between 9/05/2023 and 1/8/2024. You must make new deposit(s) of at least $5,000 in new money deposits within 30 days of account opening and thereafter maintain a balance of at least $5,000 until the 60th day after account opening. The new money cannot be from an account at U.S. Bank or its Affiliates. or
    • Earn your $800 Business Checking bonus by opening a U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account between 9/05/2023 and 1/8/2024. You must make new deposit(s) of at least $25,000 in new money deposits within 30 days of account opening and thereafter maintain a balance of at least $25,000 until the 60th day after account opening. The new money cannot be from an account at U.S. Bank or its Affiliates.
  • The business checking bonus will be deposited into your new U.S. Bank Silver, Gold, or Platinum Business Checking account within 30 days following the last calendar day of the month you complete all the offer requirements, as long as the account is open and has a positive available 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 12 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

Early Account Termination Fee

Our Verdict

Sadly not as good as the recent $750 bonus as that only required $15,000 in deposits, whereas this is $25,000 in deposits. You need to maintain the funds for 60 days so this is significant (really only need to maintain it for 31 days, just needs to be deposited by day 30 and maintained through day 61), especially considering high interest rates currently. Because of this we won’t add this to our list of the best bank account bonuses. It might be worth considering this bonus now as we haven’t seen that $750 bonus for more than a year and the churn period is now only 12 months.

Useful posts regarding bank bonuses:
    William Charles
  • On September 3, 2024, 09:00

View Comments (1463)

  • Has anyone who completed this last year receive 1099-INT for 2024? Received for personal but not yet for biz.

  • I completed this bonus after opening my account during the final week that this particular offer was available (it expired 8/30). I wasn't instantly approved, but I'm glad that I got approved in the end, because the last time I completed a USB biz checking offer was in 2019. That offer was in-branch only, so it was nice to be able to apply for this one online this time.

    I tried applying online for USB biz checking accounts previously, but was denied every time. I believe this might be the highest single bank bonus that I have ever received, so it was totally worth it for a $25k deposit. I wanted to get in before the deposit requirement was raised to $30k instead of $25k and I did.

    8/13/24 - Applied online with promo code Q2AFL24 as sole prop with SSN, app went pending
    8/23/24 - Uploaded state ID card and SS card with emailed link after phone call and denial letter received in mail
    8/25/24 - Notified by email that silver biz checking account application was approved, could view account in existing online banking account login
    8/26/24 - Applied and approved for B of A Unlimited biz credit card with $500/$5k bonus offer
    9/3/24 - $3k CC funding through emailed dashboard link posted as purchase (they give you 30 days from approval to make your CC funding if your app goes pending and is approved)
    9/17/24 - $22,205 Fidelity Bloom checking deposit posted
    11/8/24 - $800 adjusted interest (bonus)

    So yes, the CC funding did count as part of the $25k deposit needed for the $800 bonus. No fees were ever charged on my account and unfortunately, this account doesn't pay out any interest other than the bonus if you're eligible. I also created an online business login and could see my account there as well. I don't think I needed it for this bonus, I just enrolled so that I could see the balance on my new USB biz card.

    I have not closed the account yet, but I will once I withdraw all the funds from the account (which I have been slowly doing over time). I did not make any withdrawals from the account until I received the bonus. I hope to be able to close via live chat. I'm glad that this bonus is churnable once every 12 months instead of 24. No biz documents were required for me to open this account (I'm in footprint in CA).

  • I only got 300 instead of 800 after leaving 30k

    I called and they told me its because i only had a SILVER business instead of a PLATINUM business. The SILVER wouldve been fine if i wanted the 300 according to then. The 800 required the PLATINUN. The descriptions above here state that i only needed the SILVER but did the terms change and this post didnt specify that? Im annoyed that i parked 30k in there and only got 300.

    Does anyone have any info on this? My code was Q3AFL24 so the same ones above.

    What do i do now?

    • You provide them the terms that show that Platinum checking was not required for the Q3AFL24 promo.

      Sounds like a case of the rep trying to justify what the system did. Are you sure you met the terms on all counts? It's possible they are pointing to the wrong excuse, but they might have another excuse they missed. @guest_1974929

  • is it seriously not possible to close the business checking account over the phone or did i just get 2 crappy agents in a row? im being told i need to go in branch to close the business account. seems ridiculous. also feels slightly shady that i called the official US Bank # in my online portal and then had to go through an overly cumbersome verification loop only to be connected to agents who could barely speak english (i have nothing against offshore employment, but the way the agent was talking almost made me feel like i was speaking to a scammer lol..)

    have you guys been able to close over the phone or do we really have to go in person to close this?

  • Want to clarify what is the shortest possible period I need to maintain my balance for the bonus. The offer reads: "Deposit at least $30,000 in new money within 30 days of account opening and maintain at least that balance2 for 60 days after opening the account."

    It seems it is NOT necessary to maintain the balance for the entire 60 days. If so, how long does that have to be? Advice much appreciated.

  • 9/27 account opened, $3000 cc funding
    10/1 chase ACH push $10000
    10/8 chase ACH push $20001
    12/12 $800 bonus posted

  • I did the $800 bonus with $30k promo:
    9/24 Account application submitted
    9/26 Account opened
    10/22-23 Moved over $30,000.01in two separate transfers
    11/15 hit with $30 service charge. I immediately internally transferred money to cover that back in but due to it being a weekend, that didn't post until 11/18. I also called customer service about the fee, they said it was because my account average wasn't over $25k back in October. She did a courtesy refund of the fee which posted 11/19. I was concerned that since this dropped me down below $30k for a couple days it could jeopardize my bonus, but I sat tight...

    11/26 Pulled money down to $100 (to cover any fees)
    12/12 $800 bonus posted!

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