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Offer at a glance
- Maximum bonus amount: $700
- Availability: TX
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $12, avoidable
- Early account termination fee: None
- Household limit: None
- Expiration date: March 31, 2025.
Contents
The Offer
- Texas Capital Bank is offering a $600 checking bonus when you open a new Elite Business Checking and complete the following requirements by June 30, 2025 (receive $200 for each statement cycle up to three):
- Maintain a minimum daily posted balance of $5,000 for each participating statement period.
- Complete 10 monthly debit transactions of a combined minimum total amount of $1,500 each participating statement period.
The Fine Print
- Qualifying participants will receive a $200 cash reward each month from November 2024 through June 2025 with continued qualifying activity. The cash reward will be paid to your Elite Business Checking account at the close of each statement period after all qualifying activities are met.
- If one or more of the qualifying activities are not met within a statement period, the cash reward will not be paid for that statement period
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
There is a $12 monthly fee, this is waived with an average collected balance of $1,500.
Early Account Termination Fee
As far as I know there is no EATF.
Our Verdict
Has been higher in the past, but this time doesn’t have a deposit requirement.
Hat tip to Doc_Liker
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
tried to open the account in plano branch but stupid staff advised that DBA is a must after they pull my chex report. Please note that chex is must as well, I have to unfreeze it in order for their system to proceed. I drop the application since I do not have DBA.
“Contact the Banker” didn’t trigger anyone to call me. Hence, called on my own to my local branch and scheduled an appointment for 1/17. P1 single member LLC with EIN, P2 SP with EIN. Applied with Chex frozen and 3 bureaus unfrozen. The banker said it will take couple of days for backoffice to review and approve. The banker called back today and said we both got approved and shared the account numbers and said will email the instructions on how to enroll in to online banking.
AFAIK, this can be opened only In Branch and they also won’t approve immediately. They’ll collect all the details and send it to their back office for review and it takes up to 2-3 business days to get approved.
Has anyone had any luck after filling out the ‘Contact Our Experts’ form?
does cash app transactions work for this?
Generic question related to business account bonuses –
can we apply to same offer with multiple business entities that have different EIN number and still earn the bonus for all the business’s.
The terms don’t specify any limitations, but you’re better off asking the bank. You can’t open an account without talking to a banker anyways.
How do you actually apply for the account? I clicked on the link but there is no “apply” button, is this something we need to go into the branch?
I’ve provided my information to “Talk to the Banker” and initially got an email stating someone will reach out but haven’t heard back yet…Let’s see. Maybe, I’ll call my local branch to check on this.
Maybe I am missing something, but it seems that if you are going to do $4,500 in spend, you would do better with a (nontaxable) credit card SUB.
“Qualifying debit transaction(s) are inclusive of checks, automated clearing house (ACH) and Point of Sale (POS) posted transactions.”
So spend the $4.5k on your CC for the SUB, then pay your CC from the account.
so simply doing push/pull ach transfer count ?
Per the terms, yes
OK, then it’s a pretty good bonus.
Another way you can do is – Do 1 or more ACH Credit txns from an external account totaling $1500 / mo and do 10 ACH Debit txns totaling $1500 by pushing the money from Texas Capital Bank to the external bank from where the funds came from.
Well, yeah, but this doesn’t overlap with the credit card SUB RM was talking about.
does cash app transacations work?. churn period?