Santander Bank has an amazing business checking bonus available, but it’s sadly a targeted one. Only the business to which the corresponding letter or email is addressed is eligible for this offer. You have to open it in branch it look like, but for $500 it’s well worth it.

If you were targeted, then the requirements are pretty simple. This is what you need to do:

• Open a new Santander Business Checking or new Santander Business Checking Plus account on or between 2/15/16 and 4/30/16
• Make cumulative deposits of $2,000 or more within the first 90 days of account opening
• Complete 9 or more qualified transactions within the first 90 days after account opening

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
• Make three debit card purchases with your Santander Business Debit MasterCard, or
• Receive one or more Santander Merchant Services payments deposited into the account, or
• Receive $50 or more in Account Analysis service fees

Eligibility

• Must have been targeted
• 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

Offer Details

• Apply here
• Account Type: Business Checking (best option)
• Availability: Nationwide but Targeted
• Expiration Date: April 30, 2016
• Inquiry Type: Soft pull
• Credit Card Funding: Unknown
• Direct Deposit Requirement: No
• Other requirements: Cumulative deposits of $2,000 & 9 transactions in 90 days
• Monthly Fee: 15 (waived with 3 debit card purchases)
• Closing Account Fee: Unknown

This is a great bonus and if you were targeted then you must go for it. Open the Business Checking account, deposit $2,000 and make 9 transactions such as bill pay. That fulfills the requirements and keeps the account fee free for the first month. Then make three debit card purchases monthly to avoid paying the $15 monthly fee. It looks like there’s no getting around the targeted part, since it’s clearly stated in the terms, but if anyone is successful, let me know.

HT: DoC