Offer at a glance
- Maximum bonus amount: $250
- Availability: CA, OR, WA, in branch only. Flier might be required. [Branch locator]
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees:
- Early account termination fee: Unknown
- Expiration date: April 30th, 2017
The Offer
No direct link, must go in branch
- Businesses in CA, OR and WA can receive a $250 business checking bonus when they open a new Union Bank checking account and meet the following requirements:
- Maintain an average monthly balance of at least $1,000 on the account each statement period after account opening
- Performance at least 5 account transactions each statement period after account opening
- Postcard must be presented at time of account opening. With the personal bonus the bonus was also advertised in branch, not sure if this is also the same or not. The fine print just tells the banker to use the MTS code New Business Flier as well.
The Fine Print
- Cannot have been a Union Bank business customer within the past 6 months
- If qualifying requirements are not met or your account is not active and in good sanding as of 90 days after opening, you will not receive the bonus
- Bonus will be deposited within 120 days of account opening
- Limit 1 offer per business
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
I wasn’t able to find a fee schedule, so I’m unsure if any early account termination fee is charged or not. Easiest account to keep fee free is the basics business checking account, this has a $5 fee that is waived if you do any of the following:
- Daily checking balance of $1,000+
- Monthly average checking balance of $3,000+
- Monthly average balance of linked business accounts $5,000+
Our Verdict
If you can do this in branch without a mailer then this could be a potentially good deal depending on the normal factors (e.g soft/hard pull and what requirements they need from your business). For now though there are way too many unknowns so I will not be adding it to our list of the best business checking bonuses.
Big thanks to @esthery from DEMFlyers
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
