Best Business Bank Account Promotions and Bonuses of 2024

Business bank account promotions are typically one-time cash bonuses you can receive when you open a new business checking account or business savings account.

You need to complete certain qualifying activities to access one of these cash bonuses — such as maintaining a minimum account balance, depositing a minimum amount of new funds or performing specific types of transactions — usually within 30 to 90 days of opening your account.

Here are the top promotions for business bank accounts.

U.S. Bank business checking bonus: $400 or $800

• Eligible accounts: U.S. Bank Silver Business Checking, Gold Business Checking, Gold Business Checking with Interest and Platinum Business Checking accounts.

• How to qualify: Open an eligible U.S. Bank business checking account online using promo code Q2AFL24 ($100 minimum opening deposit applies) and complete the following steps:

  • Deposit new money — $5,000 to earn a $400 bonus; $25,000 to earn a $800 bonus — within 30 days.

  • Maintain that balance through 60 days from account opening. 

• Who can qualify: This bonus offer is available to new customers who have not been the owner or signer on a U.S. Bank business checking account for at least 24 months.

• When you’ll receive the bonus: Once eligibility is verified, your bonus will be deposited into your account within 45 days, provided your account is open and has a positive balance.

• How to open an account: This bonus only applies to accounts opened online.

• Account highlights: U.S. Bank offers three primary business checking accounts, including a free option via its Silver Business Checking account. This account includes up to 125 transactions and up to $2,500 in cash deposits per statement cycle.

Interested in opening a U.S. Bank business checking account? Consider pairing it with a Platinum Business Money Market Account from the bank to earn an interest rate bump on your savings: Earn a base rate of 0.05% to 1.15%, depending on your balance. Qualifying accounts earn a bonus APY of 4.34% from the account opening date. Terms and limits apply. Check out this account and other high-yield savings accounts.

Chase business checking bonus: $300

• Eligible accounts: Chase Business Complete Banking®.

• How to qualify: Open a new Chase Business Complete Banking® account by 07/22/2024, and complete the following activities:

  • Deposit a total of $2,000 or more in new money within 30 days of opening the account and maintain that balance for at least 60 days.

  • Complete five qualifying transactions within 90 days of opening the account. Qualifying transactions include debit card purchases, Chase QuickAccept℠ deposits, Chase QuickDeposit℠, ACH credits and wires (credits and debits).

• Who can qualify: New Chase business checking customers (you cannot be a signer on an existing Chase business checking account). This promotion isn’t available to local, state, or federal government entities or agencies, not-for-profit organizations, political action committees, anyone with campaign accounts, anyone whose accounts have been closed within 90 days, or whose accounts closed with a negative balance within the past three years.

• When you’ll receive the bonus: Chase will deposit the bonus into your account within 15 days of you satisfying the bonus requirements.

• How to open an account: You can open an account online (terms apply) or request an offer code from Chase, which you can show at a local branch to open an account.

• Location availability: Chase has locations in 48 states, plus Washington, D.C. It doesn’t have branch locations in Alaska or Hawaii.

• Business banking highlights: Chase business checking is a great option for small-business owners looking for essential banking features from a brick-and-mortar institution. In particular, the Business Complete Checking account offers unlimited electronic transactions, multiple ways to waive the $15 monthly fee and pay-as-you-go credit card processing with Chase QuickAccept℠.

Axos business checking bonus: Up to $400

• Eligible accounts: Axos Basic Business Checking or Business Interest Checking.

• How to qualify: Open a qualifying Axos business checking account and complete the requirements noted below. The bonus is paid out in $75 or $100 increments for each statement cycle that you meet the minimum balance and other requirements, with a maximum of four payouts over five statement cycles.

  • Complete 10 point-of-sale transactions per month with your Axos business debit card. Transactions must be at least $3.

  • Set up bill pay and connect it to your Axos Basic Business Checking or Business Interest Checking.

  • Maintain an average daily balance of $25,000 to $49,999 for a $75 payout or at least $50,000 for a $100 payout. You can earn a total of four bonus payouts over five statement cycles.

• Who can qualify: New Axos business checking customers who have not been primary accountholders on an Axos business account (checking or savings) in the past 12 months. You are only eligible for one Axos promotional offer per year.

• When you’ll receive the bonus: The bonuses are deposited within 10 business days of the end of the statement cycle if you meet all of the qualifying requirements.

• How to open an account: Open your Axos business checking account online using the promo code “NEW400.”

• Location availability: Nationwide.

• Business banking highlights: Axos offers a free business checking account and an interest-earning option, plus multiple business savings accounts. This online bank doesn’t charge any ATM fees and offers unlimited domestic ATM fee reimbursements for fees charged by other banks.

Bank of America business checking bonus: $200

• Eligible accounts: Bank of America® Business Advantage Banking accounts. These include Bank of America® Business Advantage Fundamentals™ Banking and Business Advantage Relationship Banking.

• How to qualify: Open an eligible account and take the following steps:

  • Make New Money deposits of $5,000 or more within 30 days of opening a new eligible Bank of America® Business Advantage checking account. New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.

  • Maintain an average balance of $5,000 or more for the next 60 days during the Maintenance Period. The Maintenance Period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.

• Who can qualify: New eligible business checking customers who apply for a Bank of America business checking account online. You are not eligible if you were the owner or signer on a Bank of America Business Advantage account within the past 12 months.

• When you’ll receive the bonus: Your bonus will be deposited within 60 days after the maintenance period ends (90 days after account opening), assuming you meet the deposit and average balance requirements. Your account must be open when the bonus is paid.

• Location availability: Bank of America business checking accounts are available to business owners in all 50 states and Washington, D.C. The bank has thousands of branches and ATMs.

• Business banking highlights: Bank of America business checking accounts boast a high cash deposit allowance, especially for a brick-and-mortar bank, and offer unlimited fee-free electronic transactions. There is a monthly service fee — $16 for Business Advantage Fundamentals — but it can be waived fairly easily.

PNC Business Checking bonus: $200

• Eligible accounts: PNC Business Checking and Business Checking Plus.

• How to qualify: Open a new qualifying Business Checking or Business Checking Plus account by 06/30/2024. Maintain a minimum average ledger balance of $5,000 for each of the first three statement cycles; and make at least 20 total qualifying PNC Bank Visa® Debit Card transactions within the first three statement cycles.

• Who can qualify: To earn this bonus, your business must have an annual revenue of less than $5 million. In addition, your new account won’t be eligible if any signer has signing authority on an existing PNC business checking account, has closed an account within the past 90 days, or has been paid a promotional premium in the past 12 months. If multiple accounts are opened with the same authorized signers, only one account will be eligible for the bonus offer.

• When you’ll receive the bonus: After you’ve met all the necessary criteria, the cash bonus will be credited to your account within 90 days.

• How to open an account: Request an offer coupon on the PNC website and visit a branch to open a business checking account. You can start your application online or over the phone before bringing the coupon to a branch location to complete the process.

• Location availability: PNC’s business checking accounts are limited to states with branch locations. PNC has branches in 28 states across the Northeast, Midwest and South, plus Washington, D.C.

• Business banking highlights: With two main business checking account options, PNC offers traditional banking from a brick-and-mortar bank. Most notably, PNC business checking includes access to debit card rewards, online add-ons and additional perks for new customers.

Huntington business checking bonus: $100, $400 or $1,000

• Eligible accounts: Business Checking 100; Unlimited Business; Unlimited Plus Business Checking; Non Profit Interest Checking.

• How to qualify: Bonus amount depends on the account type opened, as well as new money deposited. The deposit requirements for each promotion include:

  • For the $100 bonus: Make a cumulative new money deposit of at least $2,000 within 60 days after opening an eligible account.

  • For the $400 bonus: Make a cumulative new money deposit of at least $5,000 within 60 days after opening an eligible account.

  • For the $1,000 bonus: Make a cumulative new money deposit of at least $20,000 within 30 days after opening an eligible account, then maintain a daily balance of $20,000 for 60 days after you’ve met the cumulative opening deposit requirement.

• Who can qualify: You must be a new Huntington business checking customer to qualify. You aren’t eligible if you have closed an account within the past six months. Public fund or government banking dollars and brokers are also not eligible for this offer. In addition, business owners with multiple businesses can be limited to one account-related incentive per rolling 12-month period.

• When you’ll receive the bonus: Your account must be open for 90 days before you can receive the promotional offer. After that time, the bonus will be deposited into your account within 14 days provided you’ve met the requirements.

• How to open an account: Apply online using the promotional offers page on the Huntington Bank website or request a coupon and visit a branch to open an account.

• Location availability: This Huntington business checking account promotion is only available to business owners in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia and Wisconsin.

• Business banking highlights: Huntington offers a free business checking account, as well as two “Unlimited” accounts with unlimited fee-free transactions. All accounts have a generous overdraft grace period that covers overdrafts up to $50 with no fee.

American Express® Business Checking bonus: 30,000 Membership Rewards points

• Eligible accounts: American Express® Business Checking.

• How to qualify: Open a new American Express® Business Checking and meet each of the following requirements:

  • Deposit a total of $5,000 or more within 30 days of account opening. Eligible deposits are any deposits except those using the Redeem for Deposits feature, deposits from interest payments, and deposits from any other American Express® Business Checking accounts.

  • Once you meet the deposit requirement, you must maintain an average balance of $5,000 for the next 60 days.

  • Complete at least five transactions within 60 days of account opening. Qualifying transactions include mobile deposits, check deposits by mail and electronic transactions including ACH transfers, wire transfers and bill payments. Business debit card transactions and deposits using the Redeem for Deposits feature are not qualifying transactions.

• Who can qualify: Business owners opening their first American Express® Business Checking account. You will also need a linked Membership Rewards Program Account to receive the points.

• When you’ll receive the bonus: Membership Rewards points will be credited to your linked account within 8-12 weeks upon completion of the qualifying activities.

• How to open an account: American Express is an online-only financial institution. You can open a business checking account on its website.

• Location availability: Nationwide.

• Business banking highlights: American Express® Business Checking is one of our top business checking accounts, as it has no monthly fee, unlimited transactions and accrues interest: Earn 1.30% APY (annual percentage yield) on balances up to $500,000 as of 02/07/2024. Also, unlike most online accounts, American Express offers 24/7 customer service. The account doesn’t accept cash deposits, though.

Live Oak Bank Business Savings bonus: $300

• Eligible accounts: Live Oak Bank Business Savings.

• How to qualify: Open a new Live Oak Bank Business Savings and meet each of the following requirements:

  • Three steps to qualify: 1) Open a new Live Oak Bank business savings account between 5/13/24 and 6/13/24. 2) Deposit at least $30,000 or more into your new account by 6/13/24. In addition to this funding qualification, existing customers must maintain a total balance in all existing Live Oak Business Savings accounts that is greater than or equal to the total balance as of 5/13/24. 3) Maintain a balance of at least $30,000 for 90 consecutive days from the date of funding.

• Who can qualify: New and existing Live Oak customers are eligible for the $300 promotion if they open a new Live Oak Bank Business Savings account. Limit to one promo payout per business entity.

• When you’ll receive the bonus: The bonus is paid out within 45 days of meeting all qualifying requirements.

• How to open an account: Live Oak is an online-only financial institution. You can open a business savings account on its website.

• Location availability: Nationwide.

• Business banking highlights: Live Oak Bank Business Savings is one of the best business savings accounts available, earning 4.00% APY with no monthly fee or minimum balance required to earn interest. You can also access up to $10 million in FDIC insurance via the bank’s Insured Cash Sweep program.

Relay Business Checking bonus: $100

Receive a $100 bonus for depositing $10,000+ in your Relay account within 30 days of account opening.

• Eligible accounts: Relay Business Checking.

• How to qualify: Open a new Relay Business Checking account via NerdWallet and complete the following requirements:

  • Deposit at least $10,000 within 30 days of account opening.

  • Maintain an average daily balance of at least $5,000 until the bonus is deposited into your account.

• Who can qualify: New Relay customers are eligible for the promotion if they open a new account and meet the above requirements. Limit to one promo payout per business entity.

• When you’ll receive the bonus: The bonus is paid out within 10 business days of meeting all eligibility requirements.

• How to open an account: Relay is an online-online financial institution. You can open a business checking account on it’s website. Note: This offer is exclusive to NerdWallet readers and you must sign up via a link on NerdWallet’s site to qualify.

• Location availability: Nationwide.

• Business banking highlights: Relay Business Checking is a top-rated free business checking account. Standout features include fee-free cash deposits via compatible AllPoint ATMs and direct integration with QuickBooks Online and Xero, as well as business tools like PayPal, Stripe, Square and Venmo. Relay also offers a business savings account that earns up to 1%-3% APY, depending on your balance.

Choosing a new business bank account

A bonus can be a great way to earn a little extra cash for your business. But incentives should be just one factor you consider when opening a new business checking or savings account.  

You’ll want to determine whether an account is a fit for your small business on a long-term basis. To compare business checking accounts, look into fees, transaction limits and other features and restrictions.