Deal is no longer being offered according to people going in branch. View the best current checking bonuses by clicking here.
Update 8/8/19: Deal has been extended, new promo code is BIZSUMBONUSMMDD4Offer2019. Unsure what the expiration date now is. Hat tip to reader Dith
Offer at a glance
- Maximum bonus amount:Â $400
- Availability:Â In branch only
- Direct deposit required:Â None
- Additional requirements:Â Make $5,000 in deposits
- Hard/soft pull:Â Soft
- ChexSystems:Mixed data points
- Credit card funding: Can fund up to $50 with a credit card online, but I assume no card funding in branch
- Monthly fees:Â None
- Early account termination fee:Â None
- Household limit: None listed
- Expiration date:Â Unknown
Contents
The Offer
No direct link, being offered in branch only
- U.S. Bank is offering a bonus of $400 when you open a new business checking account and complete the following requirements:
- Mention promo code BIZSUMBONUSMMDD4Offer2019
- Complete $5,000 in new money deposits within 30 days of account opening
The Fine Print
- New money deposit cannot be funds held by U.S. bank or affiliates
- Offer not valid if you or any signer on the account have an existing U.S. Bank Business checking account, had a U.S. Bank business checking account in the last 12 months, or received other U.S. Bank Business checking offers within the past 24 months
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Silver business checking account has no monthly fees to worry about.
Early Account Termination Fee
There is no early account termination fee to worry about
Our Verdict
We don’t usually see business offers that are publicly accessible and this bonus is easy to meet the requirements for and keep fee free. Because of that I will be adding this to our best checking bonus page.
Hat tip to reader Rod S
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
Hopefully they bring this back this summer
Dp – bonus posted today after driving the evasive banker nuts. Very poor experience this time (mutual), but it was fun.
How to file a CFPB complaint properly? Anyone w experience? Thanks
You can search CFPB complaint database and filter by US Bancorp. I’m getting ready to file a complaint myself since it’s been well past the 60+45 days, and I’ve been getting the runaround from my banker.
Same here , very strange that this particular bank (the most ethical bank) tries to not honor their own offer. I planned to move my business assets to USBank, but I have second thoughts due to the bank’s poor response to my queries.
As a matter of fact i did. Here is a nice summary of what they gave me:
Our records show we received your application for the U.S. Bank Silver Business Checking account on August 12, 2019, with promotion code BIZSUM1. Our records further reflect an electronic deposit in the amount of $5,000 was made on August 27. After reviewing your account, we have confirmed the conditions of the promotion were not met. Please consider, the promotional period ended on August 7 and the account was opened August 12. The promo code was erroneously added to the account and the initial response you received stating the account was ineligible to receive the promo bonus was correct. As such, we respectfully decline to provide the promotional credit due to the account being opened after the promotional period ending.
In case this comes around again, this was seriously the worst process ever. I am pretty happy with most of my U.S. Bank customer experience except for this bonus. Spent countless hours having to chase down customer service reps, getting the runaround from corporate, got the bonus about a month after it should have been paid. It sounds like people had vastly different experiences depending where they opened the account. Anyway this one is not recommended.
Absolutely agree with you. Still haven’t gotten my bonus and this is absolutely insane. Never would have done this.
Bank rep. Investigating my bonus replied that I have opened Silver Business account but savings account was not opened. They are escalating to branch which I have visited already.
Apparently my banker didn’t put the promo code in when i signed up for the account, so i filed a cfpb complaint so i can get my bonus asap.
DP – BONUS Posted couple days after filing cfpb complaint.
I also did the same thing, hoping to hear a response from them soon. This whole thing has been a mess.
So I just figured out US Bank opened the wrong type of money market account for myself and three others I know. They opened a Preferred money market instead of Platinum. We’ve also been getting $10/month fee instead of $15/month.
Long story short, they’re working up the chain to try to fix it, but the reason we don’t have our bonuses is that they are incompetent and can’t follow the terms of their own promotion.
I am not very happy with US Bank right now. I feel like there is a huge disconnection between the in-branch reps and the sales/marketing team. I was told by the branch the following:
“After speaking with our group sales back office team, the business account is not eligible for the promotion because it was open two weeks after the promotion ended. Apparently, they leave these promotional codes in the system while they are still being paid out but the new ones will not be honored. You did receive credit for the personal account for $300 on 9/11/2019 but we unfortunately won’t be able to get the business account paid because it was outside of the promotional period.
I have attached the flyer just to show the outline of the promo and again, I am told these promotions are never extended.
Thank you for your patience with this process and I’m sorry this is likely not the new you wanted. Please reach out to me with any questions.”
Does anyone have the flier with the extended promo code? That would be really helpful. Thanks!
Hey, I do
https://imgur.com/a/JWLsgfu
Don’t think this is gonna be much use.
I just got a call from my banker and they said I did not meet the requirements because I deposited the $5k into the MM account instead of the checking account. The language of the offer is a little ambiguous. It says to make a deposit, but not specifically which account.
I give up waiting. I just CFPB’d them
Did you contact your in-branch banker? What did they find out?
Just heard back from the banker. He entered the right promo code but entered it under the money market account instead of the checking account 🙄🙄🙄 he said I should be getting my promo within a week and refunded the monthly fees for the money market account
Damn you got lucky. My banker left the company
wtf?!…. that’s horrible timing… I’m sure you can still CFPB them and you will get your bonus
Did you get your bonus, @sonia?
60+45 days per terms, still no bonus for me.
Well to be fair, the bank branch got closed down and everyone left that was working there.