Deal has ended, view more bank account bonuses by clicking here.
Update 7/23/23: Deal is back and valid until 7/31/23.
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â Nationwide
- Direct deposit required:Â None
- Additional requirements:Â None
- Hard/soft pull:Â Soft
- ChexSystems:Â Unknown
- Credit card funding:Â $500, Visa or Mastercard only (you can also fund a savings account with another $500, but cannot be opened at the same time as checking otherwise limited to $500 across both accounts)
- Monthly fees:Â None
- Early account termination fee:Â EATF
- Household limit:Â None listed
- Expiration date:Â July 22, 2023
Contents
The Offer
- Amalgamated Bank is offering a $150-$300 business checking bonus when you open a new business checking account and complete the following requirements:
- $150 when you open a Amalgamated Business Checking and maintain $2,500.00 every month for 3 consecutive months following one full calendar month after account opening.
- $300 when you open a Amalgamated Business Checking Plus and maintain $15,000.00 every month for 3 consecutive months following one full calendar month after account opening
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
Business checking has no monthly fees to worry about, business plus has a $25 fee that is waived with a minimum balance of $15,000.
Early Account Termination Fee
Unsure if there is any EATF.
Our Verdict
$300 bonus isn’t really worth doing as if you put the $15,000 into a 5% earning account you’d earn $187.5 anyway. The $150 bonus is worth doing. This is the first business bonus we’ve seen from Amalgamated.
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
