Warning: Grasshopper opened and then closed accounts due to fraud during the latest deal with Finder.
Offer at a glance
- Maximum bonus amount: $300
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Doesn’t pull
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Bonus forfeit, 150 days
- Household limit: None
- Expiration date: July 31st, 2026
Contents
The Offer
- Grasshopper Bank is offering a $300 bonus when you open a new Innovator Business Checking account with promo code NI300 and complete the following requirements:
- Fund your Innovator Business Checking account with $10,000 or more within 30 days of account opening
- Maintain an average daily balance of $10,000 or greater during the Maintenance Period
The Fine Print
- 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 no monthly fees to worry about.
Early Account Termination Fee
Grasshopper Bank also reserves the right to reverse the bonus if a New Client closes their Innovator Business Checking Account within 150 days of opening it is the verbiage that normally appears on these offers but not sure it appears this time.
Our Verdict
Works out to be an effective APY of 20%, unfortunately I think the chances you get approved are low (or should I say you might get approved and then denied) based on the last promotion with Finder. Grasshopper is claiming high levels of fraud in that instance but I don’t see how that’s possible. Think this is an easy skip because of that and won’t be adding it to our best bank bonus page.
Hat tip to reader Frey
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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 Calculate And Share Your ChexSystems Datapoints
- 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
