[FL, NC and SC] Capital Bank $300 Business Checking + $150 Savings Bonus + $50 Referral Bonus

Offer at a glance

Maximum bonus amount: $300 for checking, $150 for savings
Availability: FL, NC and SC
Direct deposit required: No
Additional requirements: See below
Hard/soft pull:Soft
ChexSystems:Yes, mixed dp on being sensitive
Credit card funding:Up to $50
Monthly fees: $25, avoidable
Early account termination fee: Bonus forfeit, six months
Household limit: One per company
Expiration date: 10/31/19

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

Capital Bank 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)
They are also offering a $150 Visa gift card when opening a BizEssentials Savings account and completing the following requirements:
- Maintain account in good standing for six months
- Open with at least $2,500. Opening deposit cannot be transfered from existing First Tennessee accounts

The Fine Print

Open your BizEssentials® Checking account at the Basic level or higher by 10/31/2019 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.
Opening deposit must be funds from a financial institution other than First Tennessee Bank National Association (“Bank”), which operates as First Tennessee Bank and Capital Bank, or its affiliates. Transfers from any type of account at Bank or its affiliates do not qualify.
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.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly 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. The BizEssentials saving account does not have any monthly fees to worry about. The basic checking also qualifies and the monthly fee is waived with a $5,000 minimum deposit.

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.