US Bank Business Checking Overview
Open a Business Checking account with US Bank now and earn up to a $800 account opening bonus. The deadline is January 15, 2025.
Here are the details:
- Current bonus: $900, $400
- Availability: Nationwide (if there is no local branch, you need to establish a relationship with US Bank first)
- Direct deposit requirement: None
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Mixed data points
- Credit card funding: Up to $3,000
- Monthly fee: None (paperless statements required)
- Early account closure fee: None
- Expiration date: January 15, 2025
The requirements for the two bonuses are pretty similar. One option requires depositing $30,000 within 30 days and maintaining that balance for 60 days; the other requires depositing $5,000 within 30 days and maintaining that balance for 60 days. Just choose based on how much cash you have available.
The fees and features for the different types of business checking accounts are as follows:
Application Requirements
Opening a business checking account is a little more complicated than opening a personal account, but if your application is not selected for further review, it can still be instantly approved just like a personal account. You will need the following information to apply:
- Your SSN, personal address and phone number: Personal information is still required when applying for a business account, for identity verification purposes.
- Your business’s Taxpayer Identification Number (EIN, SSN, ITIN): If you have formal business information, of course you should enter your EIN. You can also apply as a sole proprietorship using your SSN.
- Name, email address and phone number for any additional owners with 25% or more ownership in the company: This depends on your ownership structure. If you are applying with your SSN, then this usually does not apply.
If you are unlucky, you may be asked to provide additional documentation, or they may call to ask about your business. If you are applying with your SSN as a sole proprietorship, you can explain what kind of business you plan to run, such as reselling used items or providing consulting services. That is usually enough to satisfy them.
