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Offer at a glance
- Maximum bonus amount: $300
- Availability: AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY In branch only [Branch locator, click locations in the top left]
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Yes (inquiry sensitive)
- Credit card funding: $500 max, Visa/MC only
- Monthly fees: $10, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: October 31st, 2019
- Bank of the West is offering a bonus of $300 when you open a new business checking account and complete the following requirements:
- Have a minimum balance of $3,000 in the account on the last business day of each of the two full calendar months immediately following the month the account was opened
- Conduct 10 qualifying transactions, these must post to the account by the last business day of the second full full calendar month immediately following the month the account was opened
The Fine Print
- To receive the $300 business checking bonus: 1) Open a single new Classic Business Checking account or Choice Business Checking account with a minimum opening deposit of $100 in new money to Bank of the West between 08/31/19 and 10/31/19 AND 2) have a minimum balance of $3,000.00 in the account on the last business day of each of the two full calendar months immediately following the month in which the account was opened (business days include Monday through Friday, and exclude holidays), AND 3) conduct 10 qualifying transactions, all of which must post to the account by the last business day of the second full calendar month immediately following the month in which the account was opened.
- Qualifying transactions include most deposits (ATM, wire, mobile, teller/in-branch, ACH, direct deposit, and Electronic Deposit Services), most withdrawals (debit card, bill pay, wire, and ACH), and exclude any transfers between Bank of the West accounts or any Bank of the West credits or debits. A
- count must be in open status to be eligible to receive any bonus.
- Bonus will be credited to your open business checking account by 01/31/20.
- Offer end date and availability subject to change without prior notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
The easiest account to keep fee free is the classic business checking. This has a $10 monthly fee. This is waived if you do either of the following:
- a minimum daily balance of at least $3,000 in this account OR
- a combined average monthly balance of $6,000 in linked combined money market, savings or CD balances
Early Account Termination Fee
I’m not sure if there is any early account termination fee or not
They previously offered a bonus of up to $1,250, but that required merchant services, point of sale equipment and the business credit card. You can currently get a $450 bonus on the business credit card and this time the $300 checking bonus doesn’t require merchant services, making this bonus actually worth doing. Unfortunately you need to open this in branch, so I’m not sure what business documents they require. If you go for this bonus then please share your experiences in the comments below. I will be adding this to our list of the best business checking bonuses.
Hat tip to reader skolkjer
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