Posted by William Charles on June 30, 2019
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Published on June 30th, 2019 | by William Charles


[Expired] [FL, MA, NJ, NY, VT] Trustco Bank $200 Business Checking Bonus – No Requirements

Deal has expired, view more bank account bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: FL, MA, NJ, NY, VT, must open in branch [Branch locator]
  • Direct deposit required: None
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: $10, waivable
  • Early account termination fee: $26 if closed within three months + you forfeit bonus
  • Household limit: None listed
  • Expiration date: July 31st, 2019 September 14th, 2019

The Offer

Direct link to offer

  • Trustco Bank is offering a bonus of $200 when you open a new business checking account. No requirements for the bonus.

The Fine Print

  • Promotional offer valid from 6/3/19 until 7/31/19.
  • To receive the $200, you must open a new Home Town Business Checking Account.
  • Minimum of $50 to open a Home Town Business Checking Account.
  • Bonuses will be paid within 30 of account opening.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $5 monthly fee, waived with a minimum balance of $500+ or if reoccurring direct deposit of your merchant services

Early Account Termination Fee

If the account is closed within three months you have to pay a $26 fee, you also forfeit the bonus (this is the EATF for the personal account, not sure if it’s the same for the business account)

Our Verdict

There is also a personal $100 checking/$50 savings bonus. This business checking bonus is much better as there are no requirements. It’s not clear what type of business documents are required. We will be adding this to our list of the best checking account bonuses.

Hat tip to IS250

Useful posts regarding bank bonuses:

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Eric Dame
Eric Dame

$2,500.00 minimum balance required to avoid monthly charge of $10.00. (In the fine print)

Still a money maker.


Could not open an account as a sole proprietor with my SSN/EIN. Needed business documents and so forth. YMMV.


Went into branch in florida they wanted me to sign up for sunbiz? Not even sure if it’s worth it at this point as I don’t understand what sunbiz is or implies


William Charles Extended until 9/14


I contacted my Albany, New York state branch office for what was required:

Photo ID of all business owner(s)
Business License
Certificate of Assumed Name (there’s a few of these, depending upon how the business is setup, so there’s a Certificate of Assumed Partnership, etc., at least the way the guy was reading the info off over the phone)

Note that in Albany County, it sounds like a DBA will cover the latter ( as NY state law has a certificate of “assumed business name” which is the DBA).

Only certain business types are required in Albany, NY to get a business license:

Next week I’ll try with just Sole Proprietor and SSN/DBA and see what happens


OK, just finished opening the account. As a Sole Propieter, SSN only, all I needed was the DBA document which I already had (easy to get in Albany County anyway). They had a little card stating that they use Chex Systems for all new accounts, so the info above might want to be updated. Hopefully bonus will post within 60 days. Also note that I have multiple personal accounts with this bank (mortgage, checking, savings, etc.) so not sure if that has any bearing.

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