[MA] Pentucket Bank $500 Business Checking Bonus

Offer at a glance

• Maximum bonus amount: $500
• Availability: MA
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: $40, avoidable
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Pentucket Bank is offering a $500 bonus when you open a new business checking account and complete the following requirements:
  • maintains an average balance of at least $10,000 for the first three consecutive statement cycles
  • uses at least one qualifying Treasury Management service

The Fine Print

• A $500 cash bonus will be credited to a new Pentucket Bank Business Select Checking account opened after June 1, 2025, when the account is funded with money not currently on deposit to Pentucket Bank, maintains an average balance of at least $10,000 for the first three consecutive statement cycles, and uses at least one qualifying Treasury Management service.
• If all requirements are met and the account remains open, the bonus will be credited at the end of the fourth statement cycle.
• Limit one bonus per Employer Identification Number (EIN), regardless of the number of accounts opened.
• The bonus is reportable for tax purposes and may be considered taxable income.
• Offer may be withdrawn at any time without notice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Monthly fee of $40 will be charged if $40,000 average daily balance requirements are not met.

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF.

Our Verdict

Don’t think this is worth doing due to the monthly fee that is difficult to avoid, also not sure what treasury services are required.

Hat tip to reader ntn

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