Offer at a glance
- Maximum bonus amount:Â $500
- Availability: Accounts are available to residents of the State of Connecticut and residents of Putnam and Westchester county New York only
- Direct deposit required:Â No
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems: Yes, inquiry sensitive
- Credit card funding: $25
- Monthly fees: $10, avoidable
- Early account termination fee:Â Unknown
- Household limit:Â None
- Expiration date:Â August 30, 2025
Contents
The Offer
- Newtown Savings Bank is offering a $500 bonus when you open a new business checking account and complete the following requirements:
- Open a new business checking account with a minimum of $1,500
- Maintain that $1,500 balance for 90 days
The Fine Print
- Offer is available for a new Cornerstone Business Checking account opened from June 16, 2025 through August 30, 2025.
- To be eligible for this offer, the business must not have had an opened Newtown Savings Bank business checking account within a 12-month period.
- To earn the $500 bonus, you must open the account with $1,500 (or more) and maintain the $1,500 balance daily for period of 90 days.
- The bonus will be credited to your Cornerstone Business Checking account by 12/1/2025.
- If your account balance is negative on or prior to 12/1/2025, the bonus will not be paid.
- Estate and political campaign accounts are not eligible for this offer.
- The required minimum balance to waive the $10 monthly maintenance fee for Cornerstone Business Checking is $1,000 minimum daily balance.
- All account applications are subject to approval.
- Your account will not qualify for the bonus unless you provide all required account documentation within 30 days of account opening.
- Maximum $500 bonus per business (per Tax ID Number) and may not be combined with other offers.
- You are responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities if required by applicable law.
- Consult your tax advisor. Offer is subject to change and may be withdrawn at any time.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Cornerstone Business Checking has a $10 monthly fee this is waived with a $1,000 minimum daily balance.
Early Account Termination Fee
Unknown
Our Verdict
Much better than the personal bonus. Worth doing if you live in the area.
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
There is also an apparently stackable $50/$50 referral offer for doing five POS debits of $5+ each. https://www.nsbonline.com/refer-a-friend
Referrer must have an open consumer or business account. Referee must be a resident of Connecticut per terms.
NB: referral is tracked by phone number, so disclosure of your real phone number to the referrer will be necessary.
Do they do check chex for business too
Can anyone see anything on the bank website to support the statement by DoC that accounts are only available to residents of CT and two NYS counties? I can’t find anything.
Going to be in footprint soon and was thinking of trying in branch OOS.
To answer my own question: looking through the comments for prior bonuses for this bank, it looks like DoC’s statement is based on the geofencing for online apps. So no way to know what they’ll do in branch, I guess, without actually trying.