Deal has expired, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount:Â $1,200
- Availability:Â In branch only [Branch locations]. Branches are all in Illinois
- Direct deposit required:Â No
- Additional requirements:Â Maintain a deposit of $10,000
- Hard/soft pull:Soft pull
- ChexSystems:Â Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â None
- Expiration date:Â December 31st, 2019
Contents
The Offer
- Byline Bank is offering a bonus of $1,200 when you open a new business checking account with them and complete the following requirements:
- Deposit at least $2,500 at account opening
- Maintain an average monthly ledger balance of $10,000 per statement cycle for six consecutive cycles ($200 bonus per cycle)
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
Makers checking has no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so not sure if there is an early account termination fee.
Our Verdict
Great return on your money. We don’t know if this is a hard or soft pull and what business documents are required but if you live near a branch and have $10,000 spare then a 12% return over a six month period is fantastic and worth doing. There is also a personal bonus for up to $450.
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
