[IA Only] FSB Bank $500 Business Checking Bonus (Requires Payroll Processing)

Offer at a glance

• Maximum bonus amount: $500
• IA only and restricted to the following Counties: Benton, Buchanan, Cedar, Delaware, Iowa, Johnson, Jones and Linn
• Direct deposit required: None
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Up to $500
• Monthly fees: None
• Household limit: One
• Expiration date: June 30, 2025

The Offer

Direct link to 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

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