[MA, NH] Fidelity Bank $500 Business Checking Bonus

Offer at a glance

• Maximum bonus amount: $500
• Availability: MA, NH
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Yes
• Credit card funding: Up to $500
• Monthly fees: None
• Early account termination fee: $500, 6 months
• Household limit: None
• Expiration date: November 23, 2024

The Offer

Direct link to offer

• Fidelity Bank is offering a $500 bonus when you open a new BusinessWorx  checking account and complete the following requirements:
  • Have a minimum of $10,000 in total deposits
  • Conduct 10 debits and 10 credits OR enroll in Merchant Services (provided by First Data Merchant Services LLC) within 60 days of account opening

The Fine Print

• Open any Fidelity Bank BusinessWorx Checking account between September 9 and November 23, 2024 to be eligible.
• To earn the $500 bonus you must have a minimum of $10,000 in total deposits AND conduct 10 debits and 10 credits OR enroll in Merchant Services (provided by First Data Merchant Services LLC) within 60 days of account opening.
• Bonus(es) to be deposited into your account during the subsequent statement cycle after meeting the eligible criteria above.
• The value of these bonuses may constitute taxable income and will be reported on IRS Form 1099 (or other appropriate form). Above offers valid only for new Fidelity Bank business checking account clients.
• Current Fidelity Bank business clients with an existing Fidelity Bank business checking account who enroll in Merchant Services between September 9 and November 23, 2024 will earn a $500 bonus.
• All account applications are subject to approval. Limit one eligible account per tax ID/EIN number.
• Eligible accounts include BusinessWorx Basic, BusinessWorx Plus, and BusinessWorx Complete.
• Minimum opening deposit for eligible accounts is $100.
• BusinessWorx Basic account has no monthly maintenance fee.
• Account must be open, active, and in good standing to receive the bonus. Accounts closed within 6 months of receiving bonus will incur a $500 early account termination fee.
• Merchant Services and Clover hardware and software provided through First Data Merchant Services LLC.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Basic account has no monthly fees to worry about.

Early Account Termination Fee

Account must be kept open for six months, otherwise bonus is forfeit.

Our Verdict

Doesn’t appear to be any hold length for the $10,000 deposit, also it says depositing $10,000 total works so cumulative deposits (and withdrawing) should work? Not sure what business documents are required but a good bonus for a lot of readers.

Hat tip to reader Peek

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