Santander Bank, Earn $500 Bonus with New Business Checking (Select States)

April 26, 2024

Santander Bank, Earn $500 Bonus with New Business Checking

Santander Bank has a new business checking account bonus available. You can earn a bonus of $500, but you need to open the account at your local branch. Branches are in CT, DE, FL, MA, NH, NJ, NY, PA and RI. Check out the details of this Santander Bank bonus below.

How to Earn This Bonus

Here’s how it works:

Set up an appointment
Open a new Santander Business Checking or new Santander Business Checking Plus account by 7/30/2024.
Use promo code BUS500Q124SEA
Maintain an average daily balance of $2,500 or more for the first 90 days to receive a $500 cash bonus.

The average daily balance calculation begins on the day of account opening, unless the account is opened on a weekend or holiday, in which case the calculation begins on the first business day after account opening. The average daily balance is the sum of the current balance at the end of each day for 90 days, divided by 90. The full amount does not need to be deposited on day one of account opening in order to be eligible for the cash offer; however, the more days that pass, higher subsequent deposits are needed to meet the average daily balance requirement.

The Santander business checking account must be open and in good standing to receive the cash bonus at the time of bonus payment which would occur within 30 days of meeting all offer requirements. You will receive a cash bonus in your new Santander business checking account within 30 days of meeting all offer requirements. Santander will report the cash bonus to the IRS as interest income for the year in which it is received.

Are You Eligible?

Here are the eligibility details for this bonus:

Offer available in CT, DE, FL, MA, NH, NJ, NY, PA, RI
Limited to one cash bonus per business entity as identified by Taxpayer Identification Number (TIN).
Must not currently have nor have had any business checking account with Santander Bank in the last 12 months.

Account Fees

The best option is the Business Checking account which comes with a $15 monthly fee. You can waive the fee with these 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

The Santander business checking account must be open and in good standing to receive the $500 cash bonus at the time of bonus payment.

Guru’s Wrap-Up

This is one of the better bonuses we have seen from Santander Bank for a business checking account. You will earn a $500 bonus if you keep an average balance of at least $2,500 over the first 90 days.

One downside is that you can only open the account at a branch and branches are only located in select states. That also means that you can’t fund the opening deposit with a credit card.

Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. You can also access bonuses available in your state by visiting dannydealguru.com/tag/NY-bank-bonus/. Just replace NY with your state.

And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

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