Santander Bank is offering a $300 bonus for new Business Checking Accounts. To receive a $300 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 in the last 12 months, and your business must do all of the following:
- Open a new Business Checking or new Business Checking Plus account between 7/1/16 and 9/30/16
- Keep it open for 90 days
- Make cumulative deposits of $10,000 or more within the first 90 days of account opening
The business checking account must be open and not have a negative balance to receive the $300 cash bonus at the time of fulfillment. You will receive a $300 cash bonus in your new Santander checking account within 30 days of meeting all offer requirements.
The $300 bonus will be reported to the IRS as interest for the year in which it is received. You can only receive one $300 cash bonus per business entity as identified by Taxpayer Identification Number (TIN). This offer cannot be combined with any other cash offers.
It looks like this offer can’t be completed online. You have to fill out a contact form and you’ll be contacted within 2 business days to complete the account opening process. I’m not sure if it requires a branch visit.
The best option is the Business Checking account which comes with a $15 monthly fee. It can be waived with one of the following options:
- $5,000 average daily checking account balance, or
- $10,000 combined business deposit balances, or
- Receive one or more Santander Merchant Services payments deposited into the account, or
- Pay $50 or more in Account Analysis service fees
So after completing the requirement of $10,000 in total deposits, you can leave $5,000 in the account to waive the fee.
- Business with revenues up to but not exceeding $3,000,000
- Must not currently have nor have had any business checking account with Santander Bank in the last 12 months
- Apply here
- Account Type: Business Checking (best option)
- Availability: Nationwide
- Expiration Date: September 30, 2016
- Inquiry Type: Soft pull
- Credit Card Funding: Unknown
- Direct Deposit Requirement: No
- Other requirements: Cumulative deposits of $10,000 in 90 days
- Monthly Fee: 15 (waiveable)
- Closing Account Fee: Unknown
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