[Expired][VA, MD, NC] Union Bank & Trust $250 Business Checking Bonus

This bonus has expired and is no longer being offered. You can view the best current business checking bonuses here.

Offer at a glance

• Maximum bonus amount: $250
• Availability: VA, MD, NC
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft 
• ChexSystems: Unknown
• Credit card funding: Up to $2,000 on personal accounts, unsure on business
• Monthly fees: None
• Early account termination fee: 180 days, $25
• Business limit: One
• Expiration date: July 31st, 2018

The Offer

Direct link to offer

• Union Bank & Trust is offering a business checking bonus of $250 when you open a new business checking account and complete the following requirements:
  • Maintain an average balance of $2,000 or more during the first 60 days
  • Make any combination of 8 qualifying transactions by debit card at merchant locations, check or online bill payment within the first 60 days

The Fine Print

• To earn a $250 cash bonus, open a new Free Business Checking or any Union business checking account, maintain an average balance of $2,000 or more during the first 60 days and make any combination of 8 qualifying transactions by debit card at merchant locations, check, or online bill payment within the first 60 days.
• Offer expires July 31, 2018.
• Cash bonus is only available to new Union business customers that do not currently have a business checking account with us and have not had one in the last 12 months.
• May not be combined with any other offer.
• Offer may be withdrawn without notice.
• Business opening the checking account must be located within the Bank’s territories of Virginia, Maryland, or North Carolina.
• All accounts are subject to approval. $250 cash bonus will be credited to your checking account within 30 days after all terms of the offer are met.
• Your checking account must be in good standing at time of payment.
• Only one $250 cash bonus per client Taxpayer Identification Number (TIN).
• Cash bonus may be reported to the IRS as taxable income.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The free checking account has no monthly fee to worry about.  According to the fee schedule you’ll be charged an early account termination fee of $25 if the account is closed within 180 days of opening. Not 100% sure if that applies to business accounts as well or not.

Our Verdict

They also have a $100 personal bonus. Requirements seem fairly easy to meet for this business bonus and $250 isn’t bad at all. Isn’t clear what type of business documents they require. As always share your experience and data points in the comments below.

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

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