Offer at a glance
- Maximum bonus amount:Â $500
- IA only and restricted to the following Counties: Benton, Buchanan, Cedar, Delaware, Iowa, Johnson, Jones and Linn
- Direct deposit required: None
- Additional requirements:Â See below
- Hard/soft pull:Â Unknown
- ChexSystems:Â Unknown
- Credit card funding:Â Up to $500
- Monthly fees:Â None
- Household limit:Â One
- Expiration date:Â June 30, 2025
Contents
The Offer
- FSB Bank is offering a $500 bonus when you open a new business checking account and complete the following requirements:
- Open with a $5,000 deposit
- Maintain an average daily balance of $10,000 between days 60 and 90 after opening
- Make 15+ transactions per month and enroll in payroll processing within 90 days
The Fine Print
- To qualify for the $500 incentive, you must: Open a new business checking account and deposit $5,000.00 at account opening.
- Within the first 90 days of account opening, you must:
- Maintain an average daily balance of $10,000.00 between days 60-90 of account opening,
- complete 15 transactions/month,
- and sign up for payroll processing.
- Accounts may be subject to account analysis and additional fees may apply to payroll processing and ATM Deposits.
- Accounts subject to approval. Must be 18 to apply. Additional terms and conditions and fees may apply. Offer valid through June 30, 2025
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Basic checking account has a $8 monthly fee. This is waived with a $500 monthly account balance.
Early Account Termination Fee
Premature Account Closure of $15 if closed within 6 months after opening
Our Verdict
Not sure how difficult it is to sign up for payroll processing. But there is a $250 personal checking bonus as well.
Hat tip to ShawntheShawn
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
