Deal has expired, view the best current business checking bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes, not sensitive
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: $50, 180 days
- Household limit: None
- Expiration date: February 28th, 2020
Contents
The Offer
- Axos Bank is offering a bonus of $100 when you open a new business checking account and complete the following requirements:
- Use promo code 100MBA
- In the third month after account opening the average daily balance must be at least $5,000
The Fine Print
- In the third month after account opening, the average daily balance of the account must be at least $5,000 in order to qualify for the $100 bonus.
- Offer valid through 02/28/2020.
- Bonus will be deposited into your new account within 5 business days of your statement cycle date.
- Bonus may be taxable and reported on IRS Form 1099-MISC.
- Consult your tax advisor.
- Bank reserves the right to limit each customer to one new account-related gift incentive per calendar year.
- Account must remain open for 180 days or an early closure fee of $50 may apply.
- NOTE: “New Funds” is defined as funds that did not originate from another Axos Bank account.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
Account must be kept open for 180 days otherwise a fee of $50 applies
Our Verdict
Seems like another relatively easy bonus, basically just need the $5,000 in there for a month. We do need to know if it’s a hard/soft pull, list of documents required are here (unfortunately can’t just use SSN). As always share your experiences in the comment.
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
