Bank Of The West, $300 Business Checking Bonus (Select States)

Bank Of The West business bonus

Bank Of The West, $300 Business Checking Bonus

Bank of the West is offering a new bonus of $300 when you open a business checking account and complete the requirements. This Bank Of The West business bonus is available in select states only.

Offer

To receive the $300 business checking bonus

  • Open a single new Classic Business Checking account or Choice Business Checking account with a minimum opening deposit of $100 in new money to Bank of the West between August 31, 2019 and October 31, 2019 AND
  • Have a minimum balance of $3,000.00 in the account on the last business day of each of the two full calendar months immediately following the month in which the account was opened (business days include Monday through Friday, and exclude holidays), AND
  • Conduct 10 qualifying transactions, all of which must post to the account by the last business day of the second full calendar month immediately following the month in which the account was opened.

Qualifying transactions include most deposits (ATM, wire, mobile, teller/in-branch, ACH, direct deposit, and Electronic Deposit Services), most withdrawals (debit card, bill pay, wire, and ACH), and exclude any transfers between Bank of the West accounts or any Bank of the West credits or debits. Bank will classify the cash bonus as interest paid to the business checking account. Any applicable taxes associated with this offer are the responsibility of the account holder. To the extent required by law, the Bank will report total value of the offer to the IRS on Form 1099 for tax year 2020.

Other important terms:

  • Account must be in open status to be eligible to receive any bonus.
  • Bonus will be credited to your open business checking account by January 31, 2020.

Fees

Classic Business Checking has a $10 monthly service charge that will be rebated if you maintain:

  • A minimum daily balance of at least $3,000 OR
  • An average monthly combined balance of $6,000 in linked business money market, savings or CD accounts

Choice Business Checking has a $20 monthly service charge that will be rebated if you maintain:

  • A minimum daily balance of at least $6,000
  • An average monthly combined balance of $15,000 in linked business money market, savings or CD accounts OR
  • Using at least three of the following relationship services: Merchant Services, Business credit card, Electronic Deposit Service, Payroll Services

There’s also an early closing fee of $25 if account is closed within 3 months.

Eligibility

  • The offer is only available to residents of AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY.
  • Offer is not available for existing Bank customers with an open business checking account as of August 30, 2019.
  • If the business or other businesses located at the same address received or may receive any other business checking bonus from the Bank between January 1, 2018 and January 30, 2020, then no business at that address is eligible.
  • Limit of one business checking bonus per business and per mailing address.

Guru’s Wrap-Up

A good bonus for business checking accounts. You need to keep a $3K balance for two months and make 10 qualifying transactions to get $300. This Bank Of The West business bonus is definitely worth it if you are in one of the eligible states.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.


Offer Details

  • Promo Page
  • Account Type: Any Deposit Checking
  • Availability: AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY
  • Expiration Date: 10/31/2019
  • Inquiry Type: Soft pull
  • Credit Card Funding: No
  • Direct Deposit Requirement: No
  • Other requirements: $3K balance for two months and 10 transcations
  • Monthly Fee: $10-$20 (waiveable, see above)
  • Closing Account Fee: $25

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