Offer at a glance
- Maximum bonus amount: $500
- Availability: NH, FL, MA, RI, CT, DE, NY, NJ, or PA, In Branch
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Up to $500 (not sure if possible in branch and if it is, likely to be a cash advance)
- Monthly fees: $15, avoidable
- Early account termination fee: $25, 90 days
- Household limit: None
- Expiration date: 7/30/24.
The Offer
- Santander Bank is offering a bonus of $500 when you open a new checking account and complete the following requirements:
- Use promo code BUS500Q124SEA
- Maintain an average daily balance of $2,500
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Business checking has a $15 monthly fee.
- Maintain $5,000 average daily balance in the checking account OR
- Maintain $10,000 in combined business deposit account balances with same ownership5 OR
- Have 3 or more purchases using a Santander® Business Debit Mastercard® post into your account OR
- Receive one or more Santander Merchant Services payments in your account3 OR
- Incur $50 or more in cash management service fees4.
Early Account Termination Fee
$25 if closed within 90 days
Our Verdict
Better than the previous $550 bonus as it’s easier to trigger the bonus. Downside to this is that it needs to be opened in branch. Still very much worth doing if you have a business and live in an eligible state so we will add this to our list of the best checking bonuses.
Useful posts regarding bank bonuses:
William Charles
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