Posted by William Charles on October 12, 2017
Bank Account Bonuses

Published on October 12th, 2017 | by William Charles

8

First Tennessee $300 Business Checking Bonus [FL, TN, NC, SC, TX, VA]

Offer at a glance

  • Maximum bonus amount: $300
  • Availability:  Must open in-branch; Florida, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia have branches [Branch locator]
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown for business accounts
  • Credit card funding:  N/A since you must open in-branch
  • Monthly fees: $25, avoidable
  • Early account termination fee:
  • Household limit: One per company
  • Expiration date: December 31st, 2017

The Offer

Direct link to offer

  • First Tennessee is offering a $300 bonus when you open a new bizessentials standad checking account and complete the following requirements:
    • Open with a minimum deposit of $5,000
    • Complete 5 qualifying payment transactions within 30 days of account opening (checks, debit card purchases, ATM withdrawals, automatic bill payments, and online bill payments initiated through the bank’s Business Banking Online services)

The Fine Print

  • Open your BizEssentials® Standard Checking account by 12/31/17 with a minimum opening deposit of $5,000 AND complete 5 qualifying payment transactions within the first 30 days of account opening to receive the $300 bonus.
  • Qualifying payment transactions include checks, debit card purchases, ATM withdrawals, automatic bill payments, and online bill payments initiated through the bank’s Business Banking Online services, in any combination.
  • Offer is non-transferable.
  • Limit one business checking bonus per company (you can print out a certificate so not sure how this is enforced?)
  • Opening deposit cannot be transferred from existing First Tennessee accounts.
  • Offer and account opening subject to bank approval.
  • Customer agrees to maintain account in good standing for minimum of 6 months.
  • The $300 bonus will be credited to your account within 6 weeks of meeting all requirements and will be reported as income on Form 1099-INT.
  • Sales Representative: Please use Coupon Redemption System. Promo Code BZD300.

Avoiding Fees

According to the fine print only the bizessentials standard checking account is valid for this offer. This account has a $25 monthly fee that is waived with a $10,000 daily balance or $25,000 in combined balances.

Early Account Termination Fee

The fine print states that the account must be kept open and in good standing for 6 months. We can assume that they will take the bonus back if you don’t fulfill this requirement.

Our Verdict

I believe that $300 is the largest business checking bonus they have offered before, previous offers have been for $150. Offer basically requires a deposit of $10,000 and then to maintain that for six months (to keep the account fee free) and 5 debit card transactions, not particularly difficult.   They also have a $300 personal checking bonus worth considering. I will be adding this to our best business checking bonuses.

Big thanks to reader, Vijay who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



8 Responses to First Tennessee $300 Business Checking Bonus [FL, TN, NC, SC, TX, VA]

  1. Tony Serra says:

    This bank’s behavior borders on criminal. Why do you think they have to buy customers at $300 a clip.

  2. Matt says:

    Just want to clarify that Florida is a targeted area. I see in your post for the personal checking account, Florida isn’t listed.

  3. Adam says:

    This would be a decent & easy offer. Sucks you can’t open online. The only branch in my city in TX is a commercial center. That would work for this bonus since this is a business acct. tho dunno if I wanna make the 1.5-2 hr round trip trek over. Even tho I don’t think they’d give anyone grief over a s-prop or “business” – I’d love for more DPs to roll in on how this goes.

    And is it just me or lots & lots of biz bank offers lately?!

  4. Vince says:

    Doc, The fine print seems to indicate that the $300 bonus only applies to the BizEssentials Standard Checking, which requires a $10,000 minimum to waive service fees. Signing up for BizEssentials Basic Checking may not qualify for the $300 bonus.

  5. Humberto de Richmond says:

    The offer states that bizzesential account that qualifies for the promotion is only the “Standard”. That account needs a minimum balance of $10000 to avoid fees.
    I wonder if it can be changed to the bizzesential value after the bonus posts.

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