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Offer at a glance
- Maximum bonus amount: $350
- Availability: Valid Northford and North Haven branch locations only
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Six months
- Household limit: None
- Expiration date: 12/31/21
Contents
The Offer
- Guilford Savings Bank is offering a business checking bonus of up to $600 must use promo code BusinessBundle. Bonus is broken down as follows:
- Get $350 when you open and use any new business checking account and a business preferred savings account and complete 10 business debit card transactions before 12/31/21
- Get $100 for activating Merchant Card Processing Services.
- Get up to $150 off up to any two Cash Management Services.
The Fine Print
- Get up to $600 with the following special offers. 1.$350 Business Checking offer, awarded as a $350 Amazon eGift Card, available when you open any new GSB Business Checking Account (Business Checking, Business Select Checking, or Business Select Plus Checking, AND a Business Preferred Savings Account. Checking Account: Account terms and conditions of account you choose must be met for six (6) months to earn incentive. If opening the Business Checking account, must also complete 10 Business Debit Card Transactions before 12/31/2021 to qualify. Business Preferred Savings Account required, and account terms and conditions must be met for six (6) months to earn incentive.
- Please refer to http://gsb-yourbank.com/business/resources/business-rate-center for rates and tiers currently in effect.
- You must enter promotion code “BusinessBundle” if opening online or mention the promotion to a banker when opening in-branch (valid at our Northford and North Haven branch locations only). Valid for businesses in the following Connecticut towns only: North Haven, Northford, North Branford and Wallingford.
- Must be new GSB business checking account customer.
- GSB business checking customers ineligible for $350 Amazon eGift Card offer.
- Accounts subject to approval.
- Minimum requirements to avoid monthly service fee must be continually met for the account and the account must remain open for 180 days in order to receive the eGift Card.
- Within 30 days after eligibility is met, a bank representative will contact the primary account holder to confirm an accurate email address for Amazon eGift Card delivery.
- Offer is subject to change without notice and may be withdrawn at any time. Limit 1 per business owner. 2. $100 Merchant Services Offer All Merchant Services provided by GSB partner, East Commerce Solutions, Inc. East Commerce Solutions, Inc. will pay business $100.00 within 30 days of opening an active and processing merchant services account. Fees, terms and conditions apply. Offer does not apply to existing customers of East Commerce Solutions, Inc. or one-time events. East Commerce Solutions, Inc., is not an affiliate of Guilford Savings Bank.
- Offer expires 12/31/2021. A GSB Business Checking Account is Required. 3. Get up to $150 in Cash Management Services value with 3 months waived fees on up to ANY TWO of these eligible services: ACH, Remote Deposit, Check Positive Pay, ACH Positive Pay and Remote Wire Services. Cash management services must be active for six (6) months in order for incentive to be issued as a statement credit. 4. 1% Owner-Occupied Mortgage Discount Promotion valid for new commercial mortgages or refinances only and does not apply to refinances of existing GSB debt. The amount reimbursed by the bank at closing will be required to be repaid if loan is prepaid within the first five years. Closing costs covered may not exceed $10,000, and can include: appraisal, environmental reporting & bank attorney fees. Main operating account with GSB is required for the duration of the term of loan. Standard underwriting and loan policy criteria applies.
- 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 account has no monthly fees to worry about.
Early Account Termination Fee
Account needs to be kept open for six months
Our Verdict
Merchant services bonus isn’t worth doing and the cash management services bonus seems to be in the form of a discount rather than a bonus. The business checking bonus is in the form of an Amazon gift card. There was a similar personal checking bonus as well.
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?
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