Offer at a glance
- Maximum bonus amount: $100
- Availability:Must live in one of the following Michigan counties for online sign up: Oakland, Wayne, Macomb, Washtenaw, Livingston, and Monroe. Note according to this comment you might need to go in branch to complete your application.
- Direct deposit required: No
- Additional requirements: Maintain balance of $1,500+ for 90 days
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- Level One bank is offering a bonus of $100 when you open a new business checking account and complete the following requirements:
- Maintain an average monthly balance of $1,500+ for the first 90 days
The Fine Print
- Offer is effective 3/4/2019 and subject to change or cancellation at any time.
- Not available to existing business checking clients or those whose accounts have closed within 90 days or closed with a negative balance.
- Not available to public funds or IOLTA checking clients.
- Offer is not eligible if you are a signer on an existing Level One business checking account.
- If multiple accounts are opened with the same signer, only one account will be eligible for the offer.
- Must present offer at time of account opening; can be printed or shown on mobile device.
- Bonus is considered taxable income and will be reported to the IRS on your 1099-INT form.
- To get $100: Open a new business checking account and maintain average monthly balances of $1,500 for the first 90 days.
- We will deposit $100 into your checking account after it has been opened 91 days.
- Minimum deposit of $100 is required to open a business checking account.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Small business checking account has no monthly fee to worry about
Early Account Termination Fee
I wasn’t able to see any early account termination fee in their fee schedule.
Our Verdict
They also offer a $100 personal checking bonus. Not worth currently considering as the account must be opened in branch.
Hat tip to reader EW
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- PSA: Don’t Call The Bank
- Introduction To ChexSystems
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- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
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