Published on March 7th, 2017 | by William Charles11
[IL, IN, or PA only] MB Financial Bank $350 Business Checking Promotion
Offer at a glance
- Maximum bonus amount: $350
- Availability: Must reside in Illinois, Lake County, Indiana, Philadelphia County, Pennsylvania
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $15, waivable
- Early account termination fee: 6 months, bonus forfeit
- Household limit: None
- Expiration date: None listed
- Open a new business checking account with MB Financial and receive a bonus of $350 when you complete the following requirements:
- Maintain an average balance of $5,000 or more (until the time of payout)
- Do one of the following within 90 days of account opening :
- Complete a minimum of 15 electronic transactions in the account
- Open a business money market or savings account with an average balance of $25,000 or more
The Fine Print
- Account holder must reside in Illinois, Lake County, Indiana, Philadelphia County, Pennsylvania.
- Customer must open and maintain a new MB Financial Bank, N.A. small business checking account and maintain a monthly average balance of $5,000 in the account to earn a credit of up to $350 by having the following activities post to the applicable account within the first 90 calendar days of its opening:
- minimum of 15 electronic transactions within 90 calendar days. These include debit card transactions, ACH’s, bill payments, mobile remote deposits, and wire transfers or
- Open and maintain a new MB Financial Bank, N.A. business money market, statement savings or passbook savings account and maintain a monthly average balance of $25,000 or more for at least 90 calendar days and at the time of payout.
- Having completed either activity 1) or 2) within the first 90 calendar days after opening of the small business checking account will earn $350 contingent on the fact that the small business checking account maintains an average monthly balance of $5,000 at the time of payout.
- Earned amounts will be paid by MB as a credit to the checking account within 60 calendar days of the transaction being verified, following the 90 calendar day period from opening.
- Account must remain open at least six months after the account opening or the credit will be reversed. Minimum balance to open a checking or savings account is $100.
- New money only; funds must not have been on deposit at MB for the past 90 calendar days. Account must be in good standing (open, with a positive balance) to receive payout.
- One new checking related bonus per customer per 12 month period
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Monthly Service Fee $15
This account has a monthly service fee of $15, this is waived if you do any of the following:
- You have 4 or more signature-based debit card transactions per statement cycle, or
- You maintain at least a $5,000 average balance each statement cycle, or
- Your account is linked to other qualified MB accounts that have a combined average balance of $15,000 or greater
Early Account Termination Fee
Account must be kept open for six months otherwise you’ll forfeit the bonus.
They also have a $250 personal checking account bonus. This $350 bonus seems pretty good as long as you can meet the $5,000 requirement as completing 15 debit card transactions shouldn’t be too difficult. After the bonus posts you could just keep the $5,000 in the account until six months is over or switch to doing four debit card transactions monthly.
I will be adding this to our list of the best business checking bonuses, make sure you share your experiences in the comments below.
Hat tip to Maximizing Money
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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