Truist Bank is offering an exciting bonus for new business checking account holders in 2024. If you’re a small business owner looking to open a new account, you could earn a $400 bonus by meeting certain requirements. This article will guide you through everything you need to know about the Truist business checking bonus, including how to qualify, the different account options available, and how this offer compares to those from other banks.
Key Takeaways
- You can earn a $400 bonus by opening a new Truist business checking account.
- To qualify, you need to deposit at least $1,500 within 30 days of opening the account.
- Make sure to enroll in Truist Online Banking to receive the bonus.
- The offer is available only to new customers and expires on March 31, 2025.
- Truist offers different checking accounts, so choose the one that best fits your business needs.
Understanding the Truist Business Checking Bonus
Eligibility Requirements
To qualify for the Truist Business Checking Bonus, you must meet certain criteria:
- You must be a new customer with no existing Truist business checking accounts.
- Your business needs to be registered in the U.S. and have a physical address in specific states.
- A valid U.S. taxpayer identification number (TIN) or employer identification number (EIN) is required.
Bonus Amount and Conditions
The bonus amount is $400 when you open a new account. Here are the conditions:
- You need to deposit at least $1,500 within 30 days of opening the account.
- The account must remain open and in good standing until the bonus is credited.
| Condition | Requirement |
|---|---|
| Minimum Deposit | $1,500 |
| Account Opening Period | 30 days |
| Bonus Credit Timeframe | Within 4 weeks of meeting conditions |
How to Apply for the Bonus
To apply for the bonus, follow these steps:
- Open a new Simple Business Checking or Dynamic Business Checking account.
- Ensure you use the correct promo code during the application process.
- Make the required deposit within the specified timeframe.
Note: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 to earn the bonus.
Steps to Qualify for the Truist Business Checking Bonus
Opening a New Account
To start, you need to open a new Truist Business Checking account. You can do this online or at a local branch. Make sure to use the promo code sb24q4bizafl during your application. This account requires a minimum opening deposit of $100.
Making Qualifying Deposits
Next, you must deposit at least $2,000 into your account within 30 days of opening it. You can do this in one go or in smaller amounts. Just remember, not all deposits count; for example, refunds from fees don’t qualify.
Enrolling in Online Banking
Finally, you need to enroll in Truist Online Banking within the same 30-day period. This step is crucial to ensure you receive your $400 bonus.
Remember, your account must stay open for at least 6 months to keep the bonus. If you close it early, you might lose the reward!
Comparing Truist Business Checking Accounts
Truist offers a variety of business checking accounts to meet different needs. In 2024, Truist Bank provides three main options: Simple Business Checking, Dynamic Business Checking, and Community Checking. Each account has its own features and benefits.
Simple Business Checking
- No monthly maintenance fee
- Up to 50 transactions per month at no charge
- Cash processing limit of $2,000 per month without fees
Dynamic Business Checking
- 500 monthly transactions allowed without fees
- Cash deposits up to $25,000 monthly at no charge
- A $20 monthly fee unless you maintain an average balance of $5,000
Monthly Fees and How to Avoid Them
| Account Type | Monthly Fee | How to Avoid Fee |
|---|---|---|
| Simple Business Checking | $0 | N/A |
| Dynamic Business Checking | $20 | Maintain $5,000 average balance |
| Community Checking | Varies | Check account terms for specifics |
Truist’s accounts are designed to cater to various business sizes and needs, making it easier for small business owners to choose the right fit.
By comparing these accounts, you can find the one that best suits your business’s financial habits and goals. Each account type has unique features that can help you manage your finances effectively.
Important Dates and Deadlines for the Truist Bonus
Promotion Start and End Dates
- Start Date: The promotion begins on October 1, 2024.
- End Date: You must open your account by October 30, 2024 to qualify for the bonus.
Timeframe for Meeting Requirements
To earn the bonus, you need to:
- Deposit at least $25,000 within 90 days of opening your account.
- Maintain a balance of $25,000 for 90 days after the deposit.
When to Expect Your Bonus
- After meeting the requirements, expect your bonus to be deposited into your account within four weeks. Keep your account open and in good standing during this time.
Remember, the best checking account bonuses for October 2024 require you to act quickly and meet all conditions to secure your bonus!
Common Questions About the Truist Business Checking Bonus
Who is Eligible?
To qualify for the Truist business checking bonus, you must be a new customer. This means you cannot have any existing Truist business checking accounts or have closed one in the last 180 days. Additionally, your business must be registered in the U.S. and located in specific states, including Alabama, Florida, and Georgia.
What Are the Restrictions?
Here are some key restrictions to keep in mind:
- You must open a new account to qualify for the bonus.
- The business must have a valid U.S. taxpayer identification number (TIN) or employer identification number (EIN).
- The bonus offer expires on March 31, 2025.
How to Maintain Eligibility
To keep your eligibility for the bonus, follow these steps:
- Open a new Simple or Dynamic Business Checking account.
- Make qualifying deposits totaling at least $1,500 within 30 days.
- Enroll in Truist Online Banking for Business within the same timeframe.
Remember: If you close your account before receiving the bonus, Truist may deduct the bonus amount from your account.
This bonus offer is a great opportunity for new business owners looking to maximize their banking benefits!
Maximizing the Benefits of Your Truist Business Checking Account
Utilizing Online and Mobile Banking
To get the most out of your Truist business checking account, take advantage of online and mobile banking. This allows you to:
- Check your balance anytime.
- Transfer funds quickly.
- Pay bills easily.
Avoiding Common Fees
Understanding fees can save you money. Here are some tips to avoid them:
- Maintain the required minimum balance.
- Limit transactions to avoid extra charges.
- Use Truist ATMs to avoid withdrawal fees.
Tips for Small Business Owners
As a small business owner, consider these strategies:
- Regularly review your account statements to track spending.
- Set up alerts for low balances or large transactions.
- Use the small business resource center for tips on managing your finances effectively.
Managing your business finances wisely can lead to better growth and success. Stay informed and proactive!
How Truist Business Checking Bonus Compares to Other Banks
Chase Business Checking Offers
- Bonus Amount: $300
- Account Type: Business Checking
- Expires In: 94 days
- Requirements: Minimum balance, optional card spend
U.S. Bank Business Checking Offers
- Bonus Amount: Up to $900
- Account Type: Business Checking
- Expires In: 93 days
- Requirements: Minimum balance, optional bill pay, optional card spend
Axos Business Checking Offers
- Bonus Amount: Up to $400
- Account Type: Business Interest Checking
- Expires In: 17 days
- Requirements: Minimum balance, bill pay, card spend
Truist’s bonus of $400 for new accounts is competitive compared to these offers. It’s relatively easy to qualify for, especially with the requirement of making qualifying deposits totaling $1,500 or more.
Truist Bank provides a straightforward bonus process, making it appealing for small business owners.
In summary, while Truist offers a solid bonus, it’s wise to compare it with other banks to find the best fit for your business needs.
- Consider these factors when comparing offers:
- Bonus amount
- Requirements to qualify
- Timeframe for receiving the bonus
Overall, Truist’s business checking bonus is a strong contender in the current market, especially for those looking to open a new account and meet the straightforward requirements.
Final Thoughts on Truist Business Checking Bonuses for 2024
In conclusion, Truist Bank is offering a great chance for small business owners to earn a $400 bonus by opening a new business checking account. To qualify, you need to deposit at least $1,500 within 30 days and sign up for online banking. This offer is available until March 31, 2025, but make sure to check if your business meets the requirements. Remember, it’s important to read all the details before signing up to avoid any surprises. If you’re looking for a straightforward way to boost your business finances, this could be a perfect opportunity.
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Kuldeep Nirgude is a computer science student with a strong interest in finance and marketing. With a focus on analyzing industry trends, he writes articles that simplify complex concepts and empower readers to make informed decisions. Kuldeep is dedicated to bridging the gap between technology and business, and is committed to staying updated on the latest innovations shaping the economy.