Deal has ended, view more bank account bonuses by clicking here.
The Offer
- U.S. Bank is offering a $500 bonus when you open a new U.S. Bank Payment Solutions Merchant Account by 10/28/2022 and accept and settle a payment transaction within 60 days of the open date of your Payment Solutions account (must accept and settle at least $50)
The Fine Print
- Promotional offer is available for establishment of a new payment processing account including certain Elavon compatible equipment rented to new and existing U.S. Bank customers not currently using Elavon for merchant processing services.
- To qualify for the $500 statement credit offer, you must open a new U.S. Bank Payment Solutions Merchant Account by 10/28/2022 and accept and settle a payment transaction within 60 days of the open date of your Payment Solutions account.
- The one-time statement credit of $500 will be credited by the January 2023 billing cycle. Merchant accounts (MIDs) must be activated and actively processing payment transactions for a minimum of one week and be in open status at the time of the incentive credit.
- Accounts must process and settle at least $50 in payment transactions in a single day to be considered an activation.
- Everyday funding requires funding to a U.S. Bank business checking account. U.S. Bank and/or Elavon reserves the right in its sole discretion to modify, suspend or terminate the promotion at any time. Restrictions may apply.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Our Verdict
Before thinking about this bonus I’d recommend reading this linked post about what merchant services are and why you might want to avoid doing these types of bonuses. There is a $400 business checking bonus that would be worth doing first.
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
