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Walter T.
Walter T. (@guest_373588)
March 20, 2017 15:41

Datapoints for reference for future promotions:

10/18/2016 – Opened account in-branch with a banker – funded with check for $5,100 from business checking at another bank
10/25/16 through 11/4/16 – made a variety of purchases using debit card – requirement was 5 transactions, but I used it 8 times for good measure.
12/27/16 – $400 bonus posts to account
3/20/16 – Closed account in branch with a banker. No fees imposed. Check issued in my business name for the full account balance at the time of closure.

Carl
Carl (@guest_347510)
February 1, 2017 22:58

Just for future reference if this offer pops up again: I live more than 50 miles from the nearest branch, and I called to verify it would still apply to me. I was told yes. Full $400 bonus posted a few days ago! That being said, this offer does apply to my entire state, so it could have something to do with that.

Dan
Dan (@guest_321536)
November 30, 2016 08:44

The offer itself doesn’t seem to mention that you need to live within a 50 mile radius of a bank. I was travelling in Illinois last week and opened a business checking account (I live 1000 miles away from the nearest 5/3 bank); the rep said I should have no problem getting the bonus.

Also, at the top of this post you mention “additional requirements” of 3x bill pays, but the terms don’t mention that at all.

Dan
Dan (@guest_343644)
January 25, 2017 07:19

Just a followup that I received the bonus and I live in AZ (wayyyyy more than 50 miles away from the closest branch)

Don L
Don L(@don-l)
October 18, 2016 14:52

Don’t have to go in branch per the banking specialist at number listed on the advertisement. You can send signed documentation back.

I was running errands so chose in branch assuming faster, but regretted decision after getting a super talker. Not only sold banks products, but also his side gig 🙂

There was a mention of business customers being gold, can’t recall %s but a very disproportionate amount of bank revenue per deposits? (or something?) So perhaps more of a focus of marketing efforts going forward.

Ken
Ken (@guest_307389)
October 18, 2016 12:56

do I need a TIN or a EIN?

Also cash deposits each month – would that count money orders?

carl wilson
carl wilson (@guest_305972)
October 12, 2016 21:22

Hey Doc,

I just opened an ecommerce business. Its an SCorp and I have an EIN. but the state of Illinois hasnt gotten me my articles of incorporation yet.

Will I be able to open a Business checking account with just an EIN and a letter from the IRS with my business name/address?

Sara
Sara (@guest_303611)
October 5, 2016 10:14

I just did the business checking offer and the personal offer. They limit one of each person 12 month period. Also my business is a sole prop so I don’t have a separate TIN. I was able to use my social for both accounts without a.problem.

MilesCollector
MilesCollector (@guest_303596)
October 5, 2016 09:14

This offer is not available in GA. I called the 5/3 branch near me and they told me that the offer has already expired. According to fine print this is what it says

“Valid only to accounts opened within the following regions: Cincinnati, Chicago, Northeast Ohio, Central Ohio, Eastern Michigan, North Carolina, North Florida, and South Florida. B”.

So, the title is misleading. Just wanted to let you know.

HAIYAN LI
HAIYAN LI (@guest_303306)
October 4, 2016 11:03

I have made a phone call to the banker and I was told that I should register a business first.
Is that right ? There should be a company ?

John
John (@guest_303525)
October 4, 2016 23:40

Kevin Rose made the following comment above:

“My banker that called me today (knowing I just opened a personal account) asked if I had a different tax number for the business. Assuming you open it with different TIN then you aren’t the same customer.”

The banker seemed to expect that Kevin might be using his SSN (what he used for his personal account) as the same number as he’d use for his business account. If the banker is used to to that, doesn’t that mean that for some bankers you don’t have to go through the hoops of registering the business separately?

Does this vary by state?

Lily
Lily (@guest_303262)
October 4, 2016 09:04

So just within one of those states isn’t enough, have to be within 50 miles. No luck for me. 🙁