June 24, 2019

Business Checking Account Promotions

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View the list of the current top business checking deals and promotions. Earn cash bonuses for opening a new account.

    Chase

    Chase Total Business Checking®

    • Get $200 as a new Chase business checking client, when you open a Chase Total Business Checking® account with qualifying activities
    • Access to 16,000 ATMs and nearly 5,000 Chase branches
    • Chase has business specialists at your local branch to help with your business needs
    • Account Alerts are a great way to stay on top of your account's activity and enhance security
    • Unlimited electronic deposits at no charge, including Chase QuickDeposit℠, ACH and ATM
    Huntington Bank

    Business Checking 100 - $200 Bonus

    Open a Huntington Business Checking 100 account online. Deposit at least $2,000 within 60 days of account opening. Your bonus of $200 will be deposited in your Business Checking 100 account after all requirements are met and your account is open for 90 days. This offer is available to applicants residing in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.

    Expires 12/31/2019
    Huntington Bank

    Unlimited Business Checking - $400 Bonus

    Open a Huntington Unlimited Business Checking account online. Make total deposits of at least $5,000 within 60 days of account opening. Your bonus of $400 will be deposited in your Unlimited Business Checking account after all requirements are met and your account is open for 90 days. This offer is available to applicants residing in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.

    Expires 12/31/2019
    Huntington Bank

    Unlimited Plus Business Checking - $750 Bonus

    Open a Huntington Unlimited Plus Business Checking account online. Make total deposits of at least $20,000 within 60 days of account opening. Your bonus of $750 will be deposited in your Unlimited Plus Business Checking account after all requirements are met and your account is open for 90 days. This offer is available to applicants residing in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.

    Expires 12/31/2019

Small business owners—take notice. Many banks are offering incentives and cash bonuses for opening new business checking accounts.

A business checking account is important to keep your funds separate from your personal banking. It helps organize your accounting and will save you a lot of headache during tax time. LLCs, corporations, and DBAs are required to have a separate business bank account.

What you need to open a business checking account:

  • Taxpayer Identification Number (SSN or EIN)
  • Current business license
  • DBA name registration (for sole proprietors, if applicable)
  • Partnership agreement (for partnerships)
  • Articles of Organization (for LLCs)
  • Articles of Incorporation (for corporations)

Checking Account Promotions for December 2019

    Chase Total Business Checking®

    • Get $200 as a new Chase business checking client, when you open a Chase Total Business Checking® account with qualifying activities
    • Access to 16,000 ATMs and nearly 5,000 Chase branches
    • Chase has business specialists at your local branch to help with your business needs
    • Account Alerts are a great way to stay on top of your account's activity and enhance security
    • Unlimited electronic deposits at no charge, including Chase QuickDeposit℠, ACH and ATM

    Huntington Bank: Business Checking 100 - $200 Bonus

    Open a Huntington Business Checking 100 account online. Deposit at least $2,000 within 60 days of account opening. Your bonus of $200 will be deposited in your Business Checking 100 account after all requirements are met and your account is open for 90 days. This offer is available to applicants residing in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.

    Expires 12/31/2019

    Huntington Bank: Unlimited Business Checking - $400 Bonus

    Open a Huntington Unlimited Business Checking account online. Make total deposits of at least $5,000 within 60 days of account opening. Your bonus of $400 will be deposited in your Unlimited Business Checking account after all requirements are met and your account is open for 90 days. This offer is available to applicants residing in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.

    Expires 12/31/2019

    Huntington Bank: Unlimited Plus Business Checking - $750 Bonus

    Open a Huntington Unlimited Plus Business Checking account online. Make total deposits of at least $20,000 within 60 days of account opening. Your bonus of $750 will be deposited in your Unlimited Plus Business Checking account after all requirements are met and your account is open for 90 days. This offer is available to applicants residing in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.

    Expires 12/31/2019

    BMO Harris Bank: Business Advantage Checking Account - $500 Bonus

    Get promo code by entering your email address in the link. Present promo code in a BMO Harris branch upon opening a new Business Advantage Checking account. Minimum opening deposit required to get bonus is $5,000. Maintain a minimum daily balance of at least $5,000 in the account for 90 days following account opening. Complete at least 10 electronic transactions post to the account within 90 days of account opening. To receive checking bonus, you must have a collected balance of $5,000 or more in the account following the 90 days from account opening.

    Expires 1/31/2020

    Columbia Bank (WA, OR, ID): Business Checking Account - $300 Cash Bonus

    Get your promo code by providing your business email. Use promo code to open a qualifying Columbia Bank business checking account. To get $300 cash bonus, make at least one deposit of $500 or more within 15 calendar days of account opening. Customer must maintain an average daily balance of $500 or more for the first 90 days after account opening.

    Expires 1/31/2020

    BMO Harris Bank: Essential Business Checking Account - $200 Bonus

    Get promo code by entering your email address in the link. Present promo code in a BMO Harris branch upon opening a new Essential Business Checking account. Minimum opening deposit required to get bonus is $1,500. Maintain a minimum daily balance of at least $1,500 in the account for 90 days following account opening. Complete at least 10 electronic transactions post to the account within 90 days of account opening. To receive checking bonus, you must have a collected balance of $1,500 or more in the account following the 90 days from account opening.

    Expires 1/31/2020

    PNC Bank: Business Checking - $200 Bonus

    Open a new PNC Business Checking, PNC Business Checking Plus, or Analysis Business (including Treasury Enterprise Plan) account. Maintain a balance an average cycle balance of $5,000 in your new checking account for each of the first three statement cycles. Make at least 20 qualifying PNC Bank Visa Debit card transactions within the first three statement cycles. $200 bonus will be credited to your new business checking account within 90 days after all conditions have been met.

    Expires 12/31/2019

    Santander Bank: Business Checking Account - $250 Bonus

    Open a new Business Checking or Business Checking Plus account and keep it open for 90 days. Maintain an average daily ledger balance of $3,000 or more for the first 90 days after account opening. To receive $250 cash bonus, you must be a business with revenues up to but not exceeding $3,000,000, your business must not currently have, nor have had, any business checking account with Santander Bank in the last 12 months, and the business checking account must be open and in good standing at the time of fulfillment. You will receive the cash bonus within 30 days of meeting all offer requirements. Your promotion code BIZ25010ND must be entered during new account opening to receive this offer.

    Expires 12/31/2019

    SunTrust Bank: SunTrust Business Checking Account - $200 Bonus

    Earn $200 when you open a new eligible SunTrust business checking account using offer code SB19Q4CHECKING and receive at least $1,500 in qualifying cumulative deposits within 30 days of account opening. Account must stay open for at least 180 days. The accounts eligible for this promotion are Simple Business Checking, Primary Business Checking, and Business Advantage Plus. The business must be registered within the U.S. with the business's physical street address located in AL, AR, GA, FL, MD, MS, NC, SC, TN, VA, and DC.

    Expires 12/31/2019

Why Open a Business Checking Account?

A separate business banking account is required for LLCs, corporations, and DBAs. But even if you don't operate as one of these, here are some advantages of a business banking account:

  • Easier Bookkeeping
    It will get very hard during tax time if you mix your personal and business transactions. A separate business account will provide a very clear trail of your business activities for yourself and the IRS.

  • Professionalism
    Your customers can make checks out to your business instead of to you. You can also pay for business expenses with a business card or checks. And when it's tax time, you can make the tax payment out of your business account.

  • Purchase Power
    A lot of bank business accounts will also give you access to their business credit cards. This gives you more purchasing power if you have startup costs or need to make a large purchase.

  • Banking Relationship
    Having a relationship with a bank could help if you need extra business services. For example, if you need a loan to expand your business in the future, you could receive better rates.

How to Get Business Account Bonuses

You can often find bank promotions for opening a new business checking account. These offers will usually be a cash bonus with a certain minimum deposit. The terms will usually be:

  • Open a new account through a certain offer link.
  • Earn a cash bonus after you complete a qualifying deposit within a certain number of days.
  • Maintain that balance for a certain number of days.
  • Receive your cash bonus after these qualifying activities are complete. The money will be deposited into your account.

We keep a list of the latest business promotions, so keep your eye out on our page. If you see a bonus offer, we will provide the promo code and details. Be aware of when the offer expires and act on it quick.

What To Look for in a Business Account

Picking the right bank for your business is important. Aside from just checking, your bank should be able to provide solutions to help your business grow (such as credit card offers and business loans).

Here are some factors to consider:

Monthly fees and balance requirements
Most traditional banks have a monthly service fee. You'll have to maintain a minimum balance or complete deposit requirements in order to waive the monthly fees. Can you meet that requirement?

Small or large bank
Large national banks are more convenient and may have more options. But small local banks or credit unions offer more personalized service.

If you don't need in-person banking services, you may even want to consider an online bank, which often have less fees and lower requirements.

Number of transactions
How many transactions do you expect each month? Most banks offer a limited amount of free monthly transactions. See if the checking account meets your transaction and deposit needs.

Additional services and benefits
Will you potentially want a loan in the future? Or merchant services and payroll programs? If so, look for a bank that offers these services to small business owners. Having a personal relationship with your bank may help you obtain these services.

Frequently Asked Questions

Can I use my personal bank account for business?
Sole proprietors are not legally required to have a business bank account. So technically, you can conduct both personal and business transactions from your personal account.

However, a separate business account will be helpful to keep expenses separate for tax reasons. LLCs, corporations, and DBAs are required to have a separate business bank account.

Do I have to be an LLC to open a business checking account?
Nope. Sole proprietors can open a business checking account with their SSN or tax ID.

As a sole proprietor, you can operate the business under your own name and don't even need to be registered. This works for self-employed individuals or small home businesses.

How long does it take to open a business checking account?
Many banks let you open a business checking account online, so you can fill out the application in minutes. You may then be required to send in additional supporting documents.

Once the application is approved, your new account could be up and running in as little as 3-5 business days. For the smoothest process, make sure to have all the required documentation ready when you apply.

How much money do I need to open a business checking account?
Each bank will have their own deposit requirements for their business checking accounts. It could be $0 or as low as just $25. More premium accounts may require higher opening deposits.

Watch out for any service fees. Some banks may require that you maintain a certain balance to avoid a monthly service fee.

Can I open a business bank account with bad credit?
Banks check your banking history and credit report when considering you for a new banking product. If you have a history of overdrafts or bank debts, it could be hard for you to get approved for a business bank account—especially as a sole proprietor.

For those with bad credit, forming an LLC could help. This action separates the business from your personal accounts.

There are banks that offer business accounts to those with bad credit. You'll need to ask around if there are options for you. Credit unions are also usually more lenient with their requirements.

Disclaimer: Opinions expressed here are author's alone. Please support CreditDonkey on our mission to help you make savvy decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

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