Posted by William Charles on January 10, 2017
Bank Account Bonuses

Published on January 10th, 2017 | by William Charles


SunTrust Business Checking $400 Sign Up Bonus [AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only]

Offer at a glance

The Offer

Direct link to offer

  • SunTrust are offering up to $400 when you open a new business checking account and complete a deposit requirement. The bonus you receive depends on the account you open:
    • Receive $200 when you open a primary business checking account with $1,500 in qualifying deposits
    • Receive $300 when you open a total business banking checking account with $5,000 in qualifying deposits
    • Receive $400 when you open a SunTrust Business Advantage Plus Checking account with $20,000 in qualifying deposits


The Fine Print

  • To be eligible to participate in the promotion: You must be a new business checking client. Existing business checking clients are not eligible. To be considered a new business checking client, the business cannot have an existing SunTrust business checking account with the same TIN (Taxpayer Identification Number) or EIN (Employer Identification Number)
  • The business client cannot have closed a business checking account within 180 days of the promotion start date (on or after July 13, 2016). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. Employee-designated accounts are not eligible for this promotion. The business must be registered within the U.S. with the account’s mailing address in Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia or the District of Columbia.
  • Make cumulative qualifying deposits, as detailed above. Qualifying deposits exclude debit card (credit) transactions, and NSF fee refunds. Deposits can be made on a one-time basis or cumulative over the 60 days.
  • After meeting the qualification requirements, the cash reward will be deposited into the new business checking account in up to 8 weeks after all qualifications are met
  • If the NEW business checking account is closed by the client or SunTrust within 180 days after opening, SunTrust reserves the right to deduct the reward amount from the account at the time of closing. Must also be open at time of closing

Avoiding Fees

Bonus is forfeit if the account is closed within 180 days, account must also be open at the time of posting as well.

The monthly maintenance fees are waived on all three accounts for the first two months and then you’re charged the following fees:

  • Primary Business Checking – $200 Bonus – $12 monthly fee: waived with an average balance of $1,500
  • Total Business Banking – $300 Bonus – $20 monthly fee: waived with an average balance of $5,000 or more is maintained or $10,000 minimum balance when combined with a Money Market Account
  • SunTrust Business Advantage Plus – $400 Bonus – $25 monthly fee: waived with an daily collected balance combined with two other SunTrust Business Advantage Plus accounts is equal to $20,000 or more

Our Verdict

They’ve offered the same bonus previously but it also required activating online cash manager. This bonus does not require that. You’re going to need to keep the account open for at least six months (remember though the first two months are free). If you have the funds you’re better off putting them into the account to avoid the monthly fee than putting them into a 1% savings account, but anything over that and you’ll probably be better off just paying the fee.

This is actually a pretty good bonus and it’s nice that it’s accessible for people with different amount of funds. If I had a business in the eligible area I’d sign up for this bonus. Because of that I’m adding it to our list of the best business checking bonuses.

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What does “The business must be registered within the U.S. with the account’s mailing address in …” mean? I work as a property manager for a friend, but in reality my friend pays me $50/month and all I have to do is be available if something happens at my friend’s property i.e. if the toilet breaks I’m supposed to be the point man to get a new one installed asap. I’m pretty sure this would be OK in terms of it being a legit business, but I don’t know where to “register within the U.S.” (?).

I’m in Florida. If anyone can point me in the right direction, would be much appreciated.


@Ben it means you need to have a tax id and be listed in a business directory ST refers to.


Why are these state specific if they can be opened on the web? If we have a 2nd address, or family, is there a way to still get the bonus if we use that address?


I was wondering the same thing, I have tons of family and friends back in FL. But my business is registered in CO only.


Can you open this without an actual business?


It doesn’t say exactly what are “qualifying deposits” other than not debit card transactions or NSF fee refunds. Does that mean that any ACH from any external bank account will qualify?


Just a note: for Early account termination fee you mention “20 weeks otherwise bonus is forfeit” in topmost description but in body of post you (and on website itself it) mention(s) clawback if closed within 180 days.

On another note, anybody know whether you can downgrade from Business Advantage Plus to Primary Business Checking within that 180 day window and still keep the bonus? Thx.


So my account was just closed. No reason given other than citing the line in their disclosures that they can terminate your account at any time for any reason.

My best guess is I tried funding the account with a cc that failed because the cash advance limit was set to $0 and it tried to go through as a CA, but I really have no idea since they refuse to give me a reason.


Opened about 1/20, Completed 5k ACH transfer from Adventure Credit about 3/1 (used to be Option 1), received $300 on 4/21. Received $20 maintenance fee at the end of march.

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