Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â Nationwide
- Direct deposit required:Â None
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems:Â No
- Credit card funding: No
- Monthly fees:Â None
- Early account termination fee: None listed
- Household limit:Â None listed
- Expiration date:Â November 18, 2022
Contents
The Offer
- Live Oak Bank is offering a $300 bonus when you open a new business checking account and complete the following requirements:
- Deposit at least $2,500 into your new business checking account within 90 days of opening
- Make 15 qualified transactions within 90 days of opening your account.
The Fine Print
- Bonus offer is only available to new small business checking customers. One offer per business. To be eligible for the bonus offer, a new Live Oak Bank small business checking account must be opened and approved by 11:59 p.m. ET on November 18, 2022.
- The customer must also deposit at least $2,500 of new money into the small business checking account within 90 days of opening the account. Funds deposited by ACH, check, transfer, or wire must be drawn from an external financial institution to qualify. Deposits transfers originating from an existing Live Oak Bank Personal or Business account via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
- The customer must also make 15 qualified transactions. Qualifying debit transactions include ATM withdrawals, debit card purchases, ACH payments, and paid checks. Internal transfers, fees, debit card refunds and transaction reversals do not count as qualifying transactions for bonus offer.
- The opening of a new account will be subject to approval. Only one bonus offer per customer will be awarded. Eligibility will be limited based on account ownership. Deposited funds must be collected to be eligible towards bonus offer. The cash bonus will be deposited to your open, eligible account within 45 days of the 90-day activity period ends. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without, notice if fraud or gaming is suspected.
- The bonus offer may be subject to tax reporting.
- Fiduciary accounts (e.g., trusts) not eligible for this offer. Offer cannot be combined with any other checking offer and is limited to one bonus per account and per customer. Offer expires on 11:59 p.m. ET on November, 18, 2022.
- To receive this bonus, the new account must not be closed or restricted at the time of payout. Live Oak Bank employees do not qualify.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The account has no minimums and no monthly fees.
Early Account Termination Fee
There is no EATF.
Our Verdict
Bonus seems good depending on what documents they require and how easy it is to open the account. We will probably add this to the best bank bonuses when we know more.
Hat tip to readers Jarod & Mark E
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
Called to close my account and was told it’ll automatically close if there’s a $0 balance for 45 days, so that’s an option for people who don’t want to bother calling in.
10/12/22 opened account with $100
11/18/22 transferred in $2500
11/16-28/22 15 debit transactions (varying small amazon reload)
As of 2/3/23 no bonus
Opened October 25th, got bonus on January 31st.
10/17: applied and opened
11/01: $2.5k transfer
11/11 – 11/12: various $1+ reloads
01/20/23: bonus posted
Account opened on 10/14/22. Completed requirements via 15 amazon and 6 billpays. Bonus received on 1/20/23.
Ok people….I opened 10/17…stil have not gotten the bonus. I am in the same camp as ieatdogfood. I called LiveOak as I did all legtimate transactions for my business. They just say they go out in batches. So who else is STILL waiting from 10/17?
You’ll get it soon. I opened 10/25 got it on 1/31, maybe you’ll be on the next batch.
DP
10/28/22: Account approved with $100 opening deposit
11/01: Transferred in $2400
12/23-1/13: various small purchases and $1 Cash app reloads
1/31: TIDAL PROMO BONUS $300
Part of the opened 10/17 club and got my bonus today. The $2,500 cleared mid November and I finished the transactions early December. Some of my transactions were “ACH payments” where the other party debited my account and others were (normal, business) debit card transactions
Wow so many F word.
Hopefully yours is coming soon!
DP
10/24: Account opened with $100 opening deposit
10/25: Transferred additional $2500 in
11/1 – 12/13: 16 total qualifying transactions, a mix of $1-3 Amazon reloads and $20-$60 ATM withdrawals. Also ACH transferred out most of the original $2600 in deposits, leaving only about $100 in account.
2/1: $300 bonus posted
DP for P2:
10/24: Account Opened
11/15-11/18: 15 Transactions met (15+ Amazon reloads of $1+)
12/13: $2505 Deposit made
1/27: $300 Bonus Posted
Perhaps another round of payouts is going out

ieatdogfood?
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