Best Business Bank Account Promotions for January 2023

When I started my business, I wasn’t very tactical about picking a bank. I just chose one.

In the years since, I’ve realized there is a big difference among banks. They will compete hard for your business, to the tune of hundreds of dollars, and if all else is equal… you might as well take the cash!

Before we get into the different business bank account promotions, it’s important to understand your business needs first. Each business is different but you will need features in an account that will potentially cost money. You want to compare apples to apples when it comes to these accounts because the bonus money is a very small piece.

For example, if you have a cash-heavy business that will require you to make large cash deposits – different accounts charge different amounts. A bank account that will take $20,000 in cash deposits each statement cycle for free will be cheaper than one that takes $10,000 and charges you fees on any amount over it. If you don’t deal with a lot of cash but have many transactions, that’s a consideration.

Be sure to compare the other factors first, before thinking about the money. It’s silly to take a $200 promotion only to pay it back in fees over the next six months or a year.

With that caveat out of the way, let’s see these business checking account promotions!

These are promotions for businesses. If you are not a business, we list the best promotional offers for personal checking account here.

Table of Contents
  1. Chase Business Complete CheckingSM — $300
  2. U.S. Bank Business Checking – $400
  3. Axos Basic Business — $200
  4. Truist Business Checking – $200
  5. PNC Business Checking – $200 or $500
  6. American Express Business Checking – 60,000 Membership Rewards Points
  7. Citi® Small Business Checking Account – up to $2,000
  8. Bank of America Business Advantage Banking – up to $500
  9. Truist Business Checking – $200
  10. M&T Bank – up to $600
  11. Live Oak Business Checking – $300 [EXPIRED]
  12. Fulton Bank Small Business Checking — $300
  13. BMO Harris Business Checking Offers
    1. Essential Business Checking — up to $400
    2. Business Advantage Checking — $500
  14. Expired Offers

Chase Business Complete CheckingSM — $300

If new Chase checking customers open a Chase Business Complete CheckingSM and satisfy some qualifying activities, Chase will give you $300 when you:

  • Deposit $2,000 in NEW money within 30 business days of account opening,
  • Maintain a $2,000 balance for 60 days,
  • Complete five qualifying transactions within 90 days – debit card purchases, Chase QuickDepositSM, ACH (credits), and wires (credits and debits)

There is a Monthly Service Fee that you can get waived if you meet any of the following criteria each statement period:

  • $2,000 minimum daily balance
  • $2,000 in net purchases on your Chase Ink® Business Card(s)
  • $2,000 in deposits from Chase QuickAccept℠ or other eligible Chase Payment Solutions transactions
  • Link a Chase Private Client Checking℠ account
  • Provide qualifying proof of military status

Get $300 with a Chase Business Complete Checking account

U.S. Bank Business Checking – $400

If you run a business where you need to accept payments, U.S. Bank has a $400 bonus offer when you open a Silver, Gold, or Platinum Business Checking Account with the U.S. Bank promo code AF49ZCB and:

  • Within 30 days, deposit $3,000 in new money and maintain that for 60 days.
  • Enroll in the U.S. bank Mobile App or U.S. Bank Online Banking within 60 days of opening your account.
  • Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.

Once you satisfy those conditions, you get $400.

Available in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY.

Member FDIC.

Learn more about this offer

(Offer expires 1/30/2023)

Axos Basic Business — $200

Axos Bank has a $200 welcome bonus offer.

Just open an account and use the promo code NEWBIZ200 and have an average daily balance of $2,500 in the first three months after account opening.

There are no monthly maintenance fees, no minimum balance requirements, and no minimum opening deposit. You get your first set of 50 checks free and you can deposit up to 60 items per month for Remote Deposit Anywhere. Also, unlimited item processing ((debits, credits, or deposited items).

Learn more about Axos Basic Business

Truist Business Checking – $200

Truist Bank has a $200 checking bonus when you open a new SunTrust Business Checking Account.

Open a Simple Business Checking, Primary Business Checking or SunTrust Business Advantage Plus account online or inside a branch with the promo code SB22NEW2BIZ6 then – make cumulative qualifying deposits of $1,500+ into your new account within 30 days of account opening AND Enroll and Sign In to Truist Online Banking for Business within 30 days of account opening.

Check the terms of each account type for the features that meet your business needs. For example, the Business Advantage Plus requires a $20,000 minimum daily collected balance and includes 500 transactions and $10,000 cash processing included.

The business must have a physical address in AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.

Learn more about this offer

(Offer expires 2/28/2023)

PNC Business Checking – $200 or $500

Open a PNC Business Checking or Business Checking Plus account and you can get a $200 cash reward. You only need $100 to open an account and:

  • Maintain a minimum average cycle balance of $5,000 for each of the first three statement cycles,
  • Make at least 20 total qualifying PNC Bank Visa Debit Card transactions within the first three statement cycles.

There is a $10 monthly maintenance fee that you can avoid if you have $500 average monthly collected balance, use a linked PNC business credit card to make $500 in purchases, or maintain a PNC Merchant Services account and process at least $500 in qualifying monthly processing deposits. It’s pretty easy.

If you have higher needs, the Treasury Enterprise Plan and Analysis Business Checking accounts will give you a $500 cash reward but they both require a minimum balance of $30,000 for the first three statement cycles.

Learn more about this offer

(Offer expires 12/31/2022)

American Express Business Checking – 60,000 Membership Rewards Points

American Express is offering a bonus on their American Express Business Checking account when you:

  • Deposit $5,000 within 20 days of opening your account, AND
  • Maintain an average account balance of $5,000 for 60 days, AND
  • Make 10 or more qualifying transactions  within 60 days of opening your account.

Qualifying transactions include mobile deposits, and electronic/online transactions including ACH, Wire, and Bill Payments.

This account also offers 1.3% APY on balances up to $500,000 and has no monthly maintenance fees.

Learn more about this offer
(Offer expires 1/3/2023)

Citi® Small Business Checking Account – up to $2,000

I received a mailer recently that shared a promotion for a new small business checking account offer from Citi®. Open a CitiBusiness (Analyzed), Streamlined, or Flexible Checking Account and deposit money within 30 calendar days following the open. The bonus is based on how much in new-to-Citi funds you deposit:

  • Deposit $5,000 to $14,999 – get $200 bonus
  • Deposit $15,000 to $24,999 – get $500 bonus
  • Deposit $25,000 to $49,999 – get $700 bonus
  • Deposit $50,000 to $99,999 – get $1,000 bonus
  • Deposit $100,000 to $199,999 – get $1,500 bonus
  • Deposit $200,000 or more – get $2,000 bonus

Maintain that balance level for 60 consecutive days and you will get the bonus. Only those customers that haven’t had a Citi® business checking account within the last 180 days will qualify. Bonus will be issued a 1099-INT.

There is no offer code, just go to the branch and ask them about it or call 877-528-0990.

Learn more about this offer

(Offer expires 1/4/2023)

Bank of America Business Advantage Banking – up to $500

Bank of America will give you a large cash bonus when you make large qualifying deposits within 30 days of opening the checking account. These must be funds that is not currently or previously been held at an account at Bank of America or Merrill.

You get $100 when you make $1,000 in qualifying deposits within 60 days of opening the account and maintaining that average balance during the maintenance period of 90 days.

You get $200 when you make $3,000 in qualifying deposits within 60 days of opening the account and maintaining that average balance during the maintenance period of 90 days.

You can get an additional $300 when you apply and get approved for an eligible Bank of America® small business credit card and spend $3,000 in New Net Purchases within the first 90 days of account opening – so this second part is really a credit card bonus.

Learn more about this offer

(Offer expires 12/31/2022)

Truist Business Checking – $200

Truist Bank has a $200 checking bonus when you open a new SunTrust Business Checking Account.

Open a Simple Business Checking, Primary Business Checking or SunTrust Business Advantage Plus account online or inside a branch with the promo code SB22NEW2BIZ6 then – make cumulative qualifying deposits of $1,500+ into your new account within 30 days of account opening AND Enroll and Sign In to Truist Online Banking for Business within 30 days of account opening.

Check the terms of each account type for the features that meet your business needs. For example, the Business Advantage Plus requires a $20,000 minimum daily collected balance and includes 500 transactions and $10,000 cash processing included.

Learn more about this offer

(Offer expires 2/28/2023)

M&T Bank – up to $600

M&T Bank Logo

M&T Bank has a bonus offer that is worth up to $600.

M&T Bank will give you $300 when you open a Tailored Business Checking account and have an average ledger balance of at least $5,000 for the 3rd full calendar month after you open the account. That’s the only requirement and your bonus is credited within 45 days of the end of that month.

You can get up to an additional $300 if you open an M&T Merchant Services account and process $20 in merchant transactions within a calendar month no later than 9/30/2021 to get the first $200. If the merchant processes at least $4,000 in merchant transactions within a calendar month (also by 9/30/2021), they get an additional $100 for a total of $300.

Learn more about this offer

(Offer expires 3/1/2022)

Live Oak Business Checking – $300 [EXPIRED]

Live Oak Bank has a $300 bonus on their business checking account when you:

  • Deposit at least $2,500 into your new business checking account within 90 days of opening it,
  • Make 15 qualified transactions within 90 days of opening your account.

This offer expires 11/18/2022 and only available to first-time Live Oak small business checking customers.

Learn more about Live Oak Business Checking

(Offer expires 11/18/2022)

Fulton Bank Small Business Checking — $300

The link below has been taken offline but word is you can still get this offer if you go into a branch and ask.

Fulton Bank is a regional bank that is available to residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, and Washington D.C – they have a small business checking product that sports a $300 bonus with a few requirements to reach the bonus:

  • Deposit at least $2,000 in new money into the account within 30 days of opening,
  • Have a minimum $2,000 balance in your account on day 60 after the account is opened,
  • Complete at least 10 business debit card purchases within 60 days of account opening with a minimum of $10 per transaction

If you are a sole proprietor, you can open the account online. If you aren’t, you need to request a coupon and open at a financial center (presumably to check your documents).

The basic business checking account has no monthly maintenance fee, no minimum daily balance, and allowed 200 processed items before you pay.

Learn more about this offer

(Offer expires 11/30/2021)

BMO Harris Business Checking Offers

Essential Business Checking — up to $400

BMO Harris has a promotion where you can get up to $400 when you open a new Essential Business Checking account. Then, deposit at least $1,500 within 30 days of account opening to start the process. Once your balance is above $1,500, you must keep it above that amount for the next 90 days. Finally, you need at least 10 electronic transactions (ACH credits or debits, online bill payments, mobile deposits, wire transfers or debit card POS purchase transactions) to post to the account within 90 days of opening the account. Once you satisfy those conditions, the bonus money is yours.

No direct deposit requirement, as this is a business checking account. Available to residents of AZ, FL, IL, IN, KS, MO, MN and WI.

Learn more about this offer

(Offer expires 4/29/2022)

Business Advantage Checking — $500

There is a promotion where you can get $500 when you open a new Business Advantage Checking account. Then, deposit at least $5,000 within 30 days of account opening to start the process. Once your balance is above $5,000, you must keep it above that amount for the next 90 days. Finally, you need at least 10 electronic transactions (ACH credits or debits, online bill payments, mobile deposits, wire transfers or debit card POS purchase transactions) to post to the account within 90 days of opening the account. Once you satisfy those conditions, the bonus money is yours.

No direct deposit requirement, as this is a business checking account. Available to residents of AZ, FL, IL, IN, KS, MO, MN and WI.

Learn more about this offer

(Offer expires 1/31/2022)

Expired Offers

These offers have expired but we keep them on the list so you know what their last offer was.

BB&T Business Checking Account – $200

BB&T, which is now known as Truist Bank after a merger with SunTrust, is still offering a $200 cash bonus on a Business Value 200, Business Value 500, or Commercial Suite Checking account.

To get the bonus, you just need to maintain a balance of $1,500 or more at 30 days from account opening. No other requirements are listed.

The mailer lists a promotion code – BCDFZ – but when you click through the link it’s automatically populated in the “Optional promotional code” field.

Bank of America – $200

Bank of America Logo

Get $200 if you open a Business Fundamentals Checking or a Business Advantage Checking. Each has a monthly maintenance fee but can be avoided fairly easily.

On the Business Fundamentals Checking account, the $15/month fee can be avoided if you do one of the following:

  • Spend $250 in net new purchases on a business debit or credit card, or,
  • Maintain an average monthly balance of $5,000 or more, or,
  • Maintain a minimum daily balance of $3,000, or,
  • Maintain a combined average monthly balance of $15,000 or more in linked Bank of America accounts.

For the Business Advantage Checking account, the $29.95/mo fee can be avoided if you do one of the following:

  • Spend $2500 in net new purchases on a business debit or credit card, or,
  • Maintain an average monthly balance of $15,000 or more, or,
  • Maintain a combined average monthly balance of $35,000 or more in linked Bank of America accounts, or,
  • Actively use BoA Merchant Services and/or Payroll Services.

M&T Tailored Business Checking Account — up to $300

M&T Bank offers up to $300 when you open an M&T Tailored Business Checking accountafter you follow a few simple qualifications. You get $300 deposited into your checking account once your Average Ledge Balance is at least $5,000 for the third full calendar month after you open the account. (one key restriction, if you have a personal account at M&T Bank then you aren’t eligible)

Wells Fargo – $200

Wells Fargo Business Choice and Platinum Business Checking are offering a $300 bonus if you open an account by the deadline. You will need to submit your information to get an email with a bonus offer code. Take the code to a branch to open one of those accounts and make a deposit ($25), then you just need to:

  • Deposit $1,000+ into that new account by Day 10, and,
  • Have a $1,000 minimum balance in your account on Day 60, and
  • Make 5+ qualifying transactions by Day 60.

Each account has fees you can avoid by meeting certain (fairly easy) requirements. Check the terms for full details.

First Horizon BizEssentials — up to $450

First Horizon has a two-tiered offer of $300 cash for opening a BizEssentials Checking Account plus another $150 Visa gift card when you open a BizEssentials Savings account.

The BizEssentials Checking account offers 250 free transactions a month and the $15 monthly service charge is waived if you have a $5,000 daily balance. The savings account has no monthly fee and there’s an automatic sweep feature that can help you earn a bit of interest.

(Offer expired 3/31/2021)

We will keep this list updated on a regular basis with the best offers out there.

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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