[Expired] [CA only] Bank & Trust $250 Business Checking Bonus

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Offer at a glance

• Maximum bonus amount: $250
• Availability: California
• Direct deposit required: No
• Additional requirements: $10,000 balance on 90th day
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: Up to $2,000. No American Express
• Monthly fees: $5, avoidable
• Early account termination fee: $25 + bonus forfeit, 90 days
• Household limit: None listed
• Expiration date: September 30th, 2019

The Offer

California Bank & Trust (CA only)

• California Bank & Trust is offering a bonus of $250 when you open a new business checking account. To receive the bonus you:
  • Must maintain a balance of $10,000+ for the first 90 days
  • Complete at least 10 of the following types of transactions: debit card purchase, ACH credit, wire transfer (credit or debit), or online bill payment

The Fine Print

• Offer available to Business Growth or Business Connect checking accounts opened between July 15 – September 30, 2019.
• Minimum opening deposit of $50 required.
• To receive the business checking bonus, the account must be a Business Growth or Business Connect checking account, maintain an average balance of $10,000 for 90 days from the account opening, and perform ten (10) of any of the following transaction types within the first 90 days: debit card purchase, ACH credit, wire transfer (credit or debit), or online bill payment.
• There may be a fee associated with these transactions.
• Applicable bonus will be deposited into open checking account within 60 days of completion of qualifications and is limited to one (1) bonus payment per customer tax-id number.
• All tax liabilities, if any, associated with the benefits are the responsibility of the recipient, and the recipient may receive an IRS tax reporting statement that includes the approximate retail value of the benefits.
• If tax documentation including a valid W-9 or W-8 is not completed, the prize may be forfeited.
• Offer is not available to existing CB&T business checking customers, public agencies, Political Action Committees, fiduciary accounts or campaign accounts.

Avoiding Fees

Monthly Fees

Business checking is the easiest to keep fee free, it has a $5 monthly fee that is waived with a $1,500 average daily balance.

Early Account Termination Fee

If the account is closed within 90 days of account opening they will deduct the bonus and a $25 early account termination fee is charged.

Our Verdict

Last month we saw some of the other Bank & Trust banks offer a bonus of $350 with less requirements, unfortunately the California version wasn’t included. That being said I’d wait until it a better bonus comes along as usually all the different variations have the same/similar bonuses. Because of that I won’t be adding this to the list of the best checking bonuses.

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