Update 1/15/23: Extended until 12/31/23.
Update 10/14/22: Extended until December 31, 2022.
Update 8/29/22: Deal is back and valid until September 30, 2022.
Terms state ‘Offer valid for recipient only’, so might be targeted
Offer at a glance
- Maximum bonus amount:Â $400/$600
- Availability:Â FL
- Direct deposit required:Â None
- Additional requirements:Â Maintain a minimum average balance of $1,500 at 90 days
- Hard/soft pull:Â Soft
- Credit card funding: Unknown, possibly up to $1,000
- Monthly fees:Â None
- Early account termination fee:Â $30 if closed within 90 days
- Household limit:Â None listed
- Expiration date:Â June 30, 2022
Contents
The Offer
- Seacoast Bank is offering a $400/$600 business checking bonus. Bonuses are as follows:
$400 when you open your first Business Checking account and deposit $5,000 and maintain that average balance for 90 days and complete 15 debit card purchases.- $600 when you open your first Business Checking account and deposit $10,000 and maintain that average balance for 90 days and complete 15 debit card purchases.
The Fine Print
- Earn up to $600 for a new Seacoast Business Checking account meeting all requirements outlined below and ful filling the Small Business Visa Debit Card Offer as noted below. Limitedtime offer available April 1, 2022 through June 30, 2022.
- Offer may be withdrawn at any time
- Offer valid for recipient only.
- Limited to one bonus per business relationship.
- Business must have a current and active registration with the Florida Department of State
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Free Business Checking
Free Business Checking has no monthly service fee and no minimum daily balance requirement. You get 150 items per month, after which an additional item fee of $0.35 per item. There is a $3 monthly check image enclosure fee, unless you opt for e-statements or choose to not have check images included in your monthly printed statements.
Early Account Termination Fee
According to the fee schedule there is an early account termination fee of $30 if the account is closed within 90 days of opening.
Our Verdict
Bigger bonus than the regular $300 bonus, but requires a bigger deposit and this option might be targeted as well. If it turns out to be open to everybody, we will add this to our list of the best bank account bonuses.
Hat tip to reader snailrock
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
Just moved to Florida in May and registered my business with the state and all in July (business was registered with California previously and 4 years in biz). Found this here and thought I’d see about moving my account over, but on the phone the first thing they mentioned was the direct mailer. Explained about just moving and newly registered in state, so prolly ineligible to get mailers (home is a new build) and she looked more into whether mailer was needed — unfortunately it seems it is.
Maybe I’ll get a mailer now I’m fully registered in FL and try them out later, but they do seem to require a mailer.
good through 9/30 https://www.seacoastbank.com/better-business-offers
William Charles
Extended until 7/22
Chuck
William Charles
Link: https://www.seacoastbank.com/switchtoday
I’ve been in person, and can confirm that if you don’t have a Florida ID, or possibly proof of a Florida address, you will not be allowed to open an account. They’re nice, but also firm about this.
All Seacoast promos have been targeted since 2015/2016 when they closed a bunch of out of area accounts and still mailed checks.
I have been asked if I was targeted or have a mailer 100% of the time with this bank, including personal and biz accts.
Thanks for the info
My last accounts were opened end of 2019 and they didn’t ask about a mailer or being targeted, FWIW. That said, I haven’t tried for another promo since and am wary about trying again for this reason.
I can confirm this based on my experience with opening both personal and business checking accounts. I am within their footprint.
Update: Nevermind, didn’t see it was for business, did personal last year.
Not targeted, walked into a branch last year and did the promo after discussing with banker