[Expired] [NM, CO, TX, IA, IL] Bank & Trust $350 Business Checking Bonus

Deal has expired and is no longer available

Update 6/17/19: Reposting as the deal is available in more states. Hat tip to reader Alex G

Offer at a glance

• Maximum bonus amount: $350
• Availability: New Mexico
• Direct deposit required: No
• Additional requirements: $10,000 balance on 90th day
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: Up to $2,000. No American Express
• Monthly fees: $5, avoidable
• Early account termination fee: $25 + bonus forfeit, 90 days
• Household limit: None listed
• Expiration date: June 28th, 2019

The Offer

New Mexico Bank & Trust (NM) | Citywide Banks (CO) | First Bank & Trust (TX) | Dubuque Bank & Trust (IA) | Illinois Bank & Trust (IL)

• New Mexico Bank & Trust is offering a bonus of $350 when you open a new business checking account. To receive the bonus you must have a total balance of at least $10,000 at 60 calendar days after account opening.

The Fine Print

• $350 bonus offer is not available to existing New Mexico Bank & Trust business checking account customers or those who had accounts opened on or before March 31, 2019.
• Offer available when opening a new business checking account at New Mexico Bank & Trust during the promotional period.
• Online account opening is available to select business entity types at nmb-t.com.
• The promotional bonus period is 4/1/2019-6/28/2019. If the account is closed by the customer or bank within 90 business days after opening, we may deduct bonuses earned and received at closing and a $25 account closing fee may be assessed.
• Closing the account will negate any unearned bonuses.
• All bonus dollars will be paid to the newly opened business checking account.
• If multiple checking accounts are opened during the promotional bonus period under the same business checking relationship name, the bonuses will be paid to the account that was opened first. Limit one bonus per new business checking account relationship.
• Customer must open a new Business Checking account and have total balance of at least $10,000 at 60 calendar days after account opening to receive $350 bonus.
• Bonuses will be paid within 90 business days after the promotional bonus.
• Geographic restrictions may apply. Account opening is subject to approval. IOLTA and IBRETA accounts are excluded from this promotion.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Business checking is the easiest to keep fee free, it has a $5 monthly fee that is waived with a $1,500 average daily balance.

Early Account Termination Fee

If the account is closed within 90 days of account opening they will deduct the bonus and a $25 early account termination fee is charged.

Our Verdict

Bank & Trust also has a personal bonus for $200-$350. The business version is only available at the New Mexico version, where as the personal is valid in more states. Deal itself is fairly good especially when it looks like you only need the $10,000 balance on the 90th day, so most of the time you could just have $1,500 in the account to keep it fee free. Because of how easy the bonus requirements are we will add this to our list of the best checking bonuses.

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