Deal has ended, view more bank account bonuses by clicking here.
Update 10/11/20: Looks to be no end date listed now?
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â Must open at one of the branches in CT
- Direct deposit required:Â None
- Additional requirements:Â None
- Hard/soft pull:Â Soft
- ChexSystems: Yes, report of being sensitive
- Credit card funding:Â Up to $500. Can fund with American Express, Discover, Mastercard & Visa.
- Monthly fees:Â Unknown
- Early account termination fee:Â 180 days, bonus forfeit
- Household limit:Â None
- Expiration date:Â September 30th, 2020
Contents
The Offer
- Westfield Bank is offering a bonus of $300 when you open a new business checking account
The Fine Print
- One offer per business available to new business checking account customers only.
- $300 will be deposited into your account when the account is opened
- The bonus will be reported on a 1099-INT in according with IRS rules
- Account must be opened on or before 9/30/20
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Not sure if there are any monthly fees to worry about
Early Account Termination Fee
With other bonuses account has needed to be kept open for 180 days to avoid losing the bonus.
Our Verdict
There is also a $300 personal checking bonus. Should be able to do both at the same time making this deal even better. We will add this to our list of the best checking account 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
William Charles expired
DP: They will let you open over the phone if you cite COVID-19 concerns. Push for digital signatures and they will allow it.
Thanks for the heads up. I still gotta give them a call regarding churnability…
It looks like you need to do DD on the personal account
what docs do they ask for opening sole proprietorship?