4 Best Small-Business Bank Account Promotions & Bonuses of May 2023

Most of the best bank account promotions on the market right now cater exclusively to consumers. Indeed, many of the United States’ best online banks seem to favor personal account holders rather than business owners.

But not all banks shortchange small-business owners. If you’re a small-business owner, solopreneur, or freelancer, you just need to know where to look to find potentially lucrative credit union and bank account bonuses and referral opportunities.

Best Small-Business Bank Account Promotions & Bonuses

These are the best small-business bank promotions this month. Unless otherwise noted, all are available to businesses of all sizes, including sole proprietors and freelancers without formal incorporation. All are FDIC-insured as well.

However, small-business checking and savings accounts impose minimum balance requirements, monthly maintenance fees, and other requirements or restrictions that can impact their appeal. Always read the fine print before you apply.

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A very attractive offer awaits Chase-curious entrepreneurs, including sole proprietors new to Chase Business Complete Banking: $300 for new Chase Business Complete Checking customers who open an account online or in-person and complete qualifying activities. This offer is valid through August 3, 2023.

To qualify for this opportunity, do the following:

Open a new Chase Business Complete Checking account by the stated offer end date.
Deposit at least $2,000 in new money into the account within 30 days of offer enrollment.
Maintain that balance for at least 60 days from offer enrollment.
Complete at least five qualifying transactions, including electronic deposits and debit card purchases, within 90 days of offer enrollment.

After you complete all qualifying activities, you should receive the bonus in your account within 15 business days.

Chase has ATMs and branches in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MI, NV, NJ, NY, OH, OK, OR, TX, UT, WA, WV, WI. This offer is available online nationwide, except for residents of AK, HI, and Puerto Rico.

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To earn up to $750 when you open a new U.S. Bank business checking account, choose from one of three eligible accounts and open it by June 30, 2023 using promo code Q2AFL23:

Silver Business Checking Package
Gold Business Checking Package
Platinum Business Checking Package

Then, complete the following qualifying activities to earn a $500 bonus:

Within 60 days of account opening, enroll in online banking or the U.S. Bank Mobile App.
Within 30 days of account opening, complete at least $5,000 in new money deposits and maintain the balance until the 60th day after account opening.

Or, complete the following qualifying activities to earn a $750 bonus:

Make a deposit of at least $15,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.
Enroll in U.S. Bank business online banking or the mobile app within 60 days of account opening.

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Open a new Axos Bank Basic Business Checking account by the offer end date to earn a welcome bonus worth up to $200. Here’s how it works:

If you’re a new business incorporated after June 1, 2020, enter the promo code “NEWBIZ200” when you apply for your new Axos Bank Basic Business Checking account. This code earns you a bonus worth $200 with no additional work required.
If you incorporated before June 1, 2020, use the promo code “NEWAXOSBIZ” instead. This gets you a bonus worth $100.

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PNC Bank Business Checking — Up to $500 Cash Bonus

Earn a bonus worth $200 with a new qualifying Business Checking or Business Checking Plus account, or $500 with a new qualifying Treasury Enterprise Plan or Analysis Business Checking account.

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June 30, 2023

Requirements

Qualifying deposits and/or transaction minimums

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Open an eligible new PNC Bank business checking account (Business Checking or Business Checking Plus) by June 30, 2023, for the opportunity to earn a cash bonus worth up to $500. Here’s how the bonus offer works:

Open an eligible account by June 30, 2023.
Maintain an average cycle balance (account balance) of $5,000 or more for each of the first three statement cycles.
Complete at least 20 total qualifying debit card transactions within the first three statement cycles.

Once you’ve completed the qualifying activities, you’ll receive a $200 cash bonus in your account within 90 days.

Alternatively, open a new Treasury Enterprise Plan or Analysis Business Checking account by June 30, 2023, for the opportunity to earn a $500 bonus. All you need to do is maintain a minimum average balance of $30,000 throughout the first three statement cycles.

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Final Word

Most of the banks mentioned here do not cater to small-business owners exclusively.

They also offer consumer accounts — in some cases, generous and expansive lineups that include free checking accounts, rewards checking accounts, CDs with above-average rates, money market accounts, and high-yield savings accounts that might just keep your emergency fund on pace with inflation.

Others offer cash-back credit cards, among other types of rewards-laden spending aids for individuals.

That matters. After all, every business owner is a person too — one with personal money management needs. That means every business owner needs a personal checking account, among other key personal banking relationships.

If you’d like that relationship to involve the same bank you choose for your business banking needs, perhaps one of these promotions will seal the deal.

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