Offer at a glance
- Maximum bonus amount: $1,200
- Availability: HI
- Direct deposit required: Yes, $200+
- Additional requirements: No
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $20, avoidable
- Early account termination fee: Unknown, but account has to be open for six months
- Household limit: None listed
- Expiration date: October 31, 2025
Contents
The Offer
- Central Pacific Bank is offering a bonus of up to $1,200 when you open a new business checking account. Bonus you receive depends on the amount you deposit and maintain that balance for at least 90 days.
- $1,200 Bonus Minimum $75K in new money
- $400 Bonus Minimum $25K in new money
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 a $20 monthly fee. Waived with a $10,000 minimum combined balance.
Early Account Termination Fee
Account must be kept open for six months
Our Verdict
Both bonuses work out to be a 6.4% APY return. Don’t think these accounts earn anything, so the offer is just average compared to high yield accounts.
Hat tip to reader Avi
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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 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
