S&T Bank Business Checking Bonus
S&T Bank has a new bonus of up to $600 for business checking accounts. This offer is available in PA and OH only. Half the bonus is pretty easy to obtain, while the other half requires signing up for a payment processing account through Elavon. Let’s see how this S&T Bank Business Checking bonus works and whether it makes sense for you.
To qualify for the $300 incentive:
- Open a new Basic Business Checking account and fund with $1,000 within the first 5 business days of account opening.
- Business checking account must have a daily balance of $1,000 or more until November 1, 2021, to receive incentive.
- Business must also apply, receive and activate an S&T Bank business debit card that is associated with the new Basic Business Checking account by November 1, 2021.
- Account will receive $300 incentive on November 10, 2021. Account must remain open until November 10, 2021, to receive incentive.
To qualify for the additional $300 incentive
- A new S&T payment processing account through Elavon must be opened between July 1, 2021 and September 30, 2021, and have accepted customer payments, settled and funded by Elavon.
- If the S&T payment processing account remains open through November 10, 2021, the $300 incentive will be credited to the S&T Basic Business checking account on November 10, 2021.
Incentives will show as “Cash Incentive” on your monthly statement. The value of the incentives may be reported on Internal Revenue Service (IRS) Form 1099 and may be considered taxable income to you. Please consult your tax advisor regarding your specific situation.
- The offer is available in PA and OH only.
- New account will not be eligible for offer if any signer has signing authority on an existing S&T Bank business checking account or has closed an account within the past 90 days or has been paid a promotional premium in the past 12 months.
- If you open multiple accounts with the same signers, only one account will be eligible for the incentive.
- Estate accounts are not eligible for this promotion.
- Limit one $300 incentive per merchant, regardless of the number of business locations. Business is subject to underwriting and approval by Elavon.
- Offer only available to merchants inside the United States.
The Basic Business Checking account has no monthly fees.
Elavon charges 2.65% plus 19 cents per transaction fee on all “card present” transactions. I’m not sure if there are any other fees when signing up.
A great business checking bonus for those in PA and OH. You just need to open the account with $1,000 and keep it in the account for one to two months to get the first half of the bonus. The Basic Business Checking account has no monthly fees. For the second half of the bonus you need to create a S&T payment processing account through Elavon and complete at least one transaction. You won’t pay much in fees for a small transaction, but I’m not sure if there are any setup fees.
- OFFER PAGE
- Account Type: Basic Business Banking
- Availability: PA, OH
- Inquiry Type: Soft pull
- Credit Card Funding: No
- Direct Deposit Requirement: No
- Other requirements: $1,000 balance, set up a payment processing account through Elavon
- Monthly Fee: No
- Closing Account Fee: Unknown
- Expiration Date: 9/30/21