Offer at a glance
- Maximum bonus amount: $500
- Availability: Nationwide
- Direct deposit required: No
- Additional requirements: No
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- Mercury is a ‘banking stack for startups’ and is offering a bonus of $500 when you spend $10,000+ via the Mercury debit card.
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
This account has no monthly fees to worry about
Early Account Termination Fee
I’m unsure if there is any early account termination fee or not
Our Verdict
I suspect approvals will be difficult to come by as this is targeted towards startups. Deal itself is good if you have a lot of natural debit card spend.
Hat tip to mothman69
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
Smooth application with LLC, uploaded Articles of Inc and CP-whatever, approved next day. Went with the offer here, with $300 bonus for $2k spend. Very nice interface, looks to have a good suite of features, and instant virtual card.
Wondering if this could be used to make DDs? Anyone work that angle?
This offer can be churned. I applied with the same single-member LLC both times. All debit card spending was done with the virtual debit card.
4/19/2022 – first account opened
4/26/2022 – $2500 Point card funding
5/2/2022 – $2500 Point card funding
5/4/2022 – $2500 Point card funding
5/6/2022 – $200 Cash App load
5/6/2022 – $2300 Point card funding
5/11/2022 – $500 bonus posted
2/23/2023 – first account closed
3/11/2024 – second account opened
3/18/2024 – $2500 Cash App load
3/19/2024 – $2599 Cash App load
3/21/2024 – 2x $2500 Cash App loads
3/22/2024 – $500 bonus posted
I guess it’s safe to say you can wait 12 months since previous closure to churn.
Good DP, thank you. I closed my first account 12 months ago, I will do the churn.
I found out that the $250 bonus for depositing $10k stacks with a $300 bonus for spending $2k on their debit/credit card, making it a $550 bonus total.
No, stop asking.
No problem. And – I have never asked before.
Hi team,
I applied following link. hOwever, rep from Mercury states that promotion is not linked to my new account and I must have an account with Twist. May anyone help me here?
by the way do they pull chex system report?
Do they approave sole props with a social?
https://www.doctorofcredit.com/mercury-banking-for-startups-spend-10000-on-debit-card-get-500-bonus/#comment-1419878
Do you have Paypal bill pay business or personal?
How do you manufacture that high spending, $10k?
There’s also another offer for a $300 bonus after spending only $2000 on the debit card. So you’re getting 15% on your spend with that offer instead of 5% for this one.
Link for that offer is here: https://mercury.com/partner/fitsmallbusinessstartup?utm_source&irclickid=xXKwTK39KxyPRAfx6UV3b26PUkFT-rTJ1UluyM0&irgwc=1
Can you “create” spending/manufacture?
DP P1
8/29 – applied, pending review, then approved by email same day; single member LLC
9/8 – 9/15 – pushed/pulled in funds then made several PPBP payments and Citi CC payments by phone using Mercury virtual debit card
9/18 (next biz day) – $500 “Cash bonus for TWiST deal.”
What are PPBP payments?