Regions $550 Business Checking Bonus [Targeted & AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX]

Offer at a glance

• Maximum bonus amount: $550
• Availability:  AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX. Note that opening online doesn’t seem to work in some areas, according to some, you need to live within 50 miles of a branch. [Branch locator]. You also need to have received the mailer.
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: Up to $1,000 (and another $1,000 when you open a free savings account). American Express not accepted.
• Monthly fees:  $5-$10, avoidable
• Early account termination fee:  $25, 180 days
• Household limit: None
• Expiration date: Unknown

The Offer

Targeted offer, sent out via snail mail

• Regions Bank is offering some people a bonus of up to $550 when they open a business checking account. Bonus is broken down as follows:
  • Open a new Regions Business Checking account with a Business Visa Checkcard by May 31st, 2018
  • Make at least five transactions with the new check card that post to your account within 30 days
  • $400 bonus will post within 120 days of completing these steps
• Earn an additional $150 when you complete any TWO of the following:
  • Enroll in Regions Online Banking
  • Have an ending posting balance of $50,000 or more in your new checking account on June 29th, 2018
  • Open a Regions Business Money Market account with an ending posting balance of $25,000 or more on June 29th, 2018
  • Sign up for Regions merchant services provided by Elavon by June 29th
  • $150 bonus will post within 120 days of meeting the requirements.

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

LifeGreen Business Simple Checking – $5 Monthly Fee

The monthly fee on this account is waived with

• At least $500 in Regions Business CheckCard and/or Business Credit Card purchases

LifeGreen Business Checking – $10 Monthly Fee

The monthly fee is waived if you do any of the following:

• $2,500 average monthly statement balance
• At least $1,000 in Regions Business CheckCard and/or Business Credit Card Purchases
• At least one Regions Merchant Serivces transaction credited to this account

Our Verdict

$400 bonus is very easy to do. The $150 is a bit more tricky, best option is online banking and then either $25,000 in money market or $50,000 in checking. Might as well do the $25,000 into money market as you should be able to fund another $1,000 with a credit card. Remember the $25,000 only has to be in there on June 29th so the play would be to transfer in just before then and then transfer out afterwards to avoid the loss of too much interest. Shame it’s targeted otherwise it would be going on the list of the best business checking bonuses.

Big thanks to reader, Josh J who let us know. Learn how to find bonuses and contribute to the site here.

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• Introduction To ChexSystems
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