Update 10/29/25: Now available in ND due to Bremer Bank acquisition
Offer at a glance
- Maximum bonus amount: $500
- Availability: IL, IN, KY, MI, MN & WI, In Branch Only
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $500, can fund with American Express, Visa & Mastercard
- Monthly fees: None
- Early account termination fee: $25, 180 days
- Household limit: None
- Expiration date: 9/30/2025
Contents
The Offer
- Old National Bank is offering a $500 bonus when you open a new business checking account and complete the following requirements:
- Deposit a total of $7,000 or more within 30 days of account opening
- Maintain a minimum balance of $7,000 for days 31-90 of account opening
- Log in to Small Business Digital Banking within 30 days of account opening
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
Free business checking has no monthly fee to worry about (available in all states apart from Wisconsin). Essential business checking account is required in Wisconsin, not sure if this has a monthly fee or not.
Early Account Termination Fee
There is an early account termination fee of $25 if closed within 180 days.
Our Verdict
Seems much easier than previous business checking bonuses from Old National (here & here). Think it is worth doing but unfortunately needs to be opened in branch. Added to best business checking bonuses.
Hat tip to reader Mike
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
