Business Checking Bonuses: Who Can Open One, and What You Need to Bring
Updated Oct 22, 2026 · 7 min read
Business checking bonuses can be among the larger bank bonuses, and you need a real business to get one. That business can be small. At some banks, a sole proprietor, meaning just you operating under your own name, can open an account with a Social Security number instead of an EIN. But each bank has its own paperwork, and some bonuses add their own rules, like a business that's less than a year old.
This guide covers what banks say they need, the limits that follow you as the owner, and the current offers. The free Bank Bonus Calculator shows what any of them is worth after fees and taxes.
Do you need a real business?
Yes. A business account is meant for business activity, and the application asks about your business. Chase's own guidance says that a sole proprietorship with no employees "typically doesn't require" an EIN, and that if you haven't filed for one, "you may still be able to open a business bank account with your personal Social Security number." That describes people who actually run a business, even a side business, such as freelancing, consulting, reselling or a small service.
Don't open a business account just to collect a bonus if you don't have a business. If you're not sure whether what you do counts as one, ask a tax professional or the bank before you apply.
What the banks say they need
These come from each bank's own pages. They're general guidance, and banks change them, so confirm with the bank before you go.
| Bank | What its page says |
|---|---|
| Chase | Ideally an EIN, but a sole proprietor may open with a personal Social Security number. If the business uses a name other than your own, you'll need documents showing the other name (a DBA). State-level documents or licenses may be needed if you have them. |
| Wells Fargo | One primary ID and one secondary ID for each owner. If the business name doesn't include the owner's legal last name, you need a document such as a fictitious name certificate, a certificate of assumed name, a business license or a trade name registration. The page doesn't spell out the tax ID, so ask a banker. If there's more than one owner, the bank prefers they all be present when you open the account. |
| Axos | Its pages differ. One says a sole proprietorship or single-owner LLC can use an SSN in place of an EIN. The Basic Business Checking page lists an EIN, plus your SSN if you're a sole proprietor. Confirm which applies to you before you apply. It can be opened online, and there's no minimum deposit. |
| Associated Bank | Opening online is limited to Iowa, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Ohio and Wisconsin. $100 minimum opening deposit. |
If your business has a name that isn't your own, expect to be asked for a document that shows it: a DBA, "assumed name" or "fictitious name" filing, depending on your state. Wells Fargo, for example, asks for no extra document when the business name includes the owner's legal last name.
The current offers
Business checking bonuses are tiered: a bigger balance earns more. The ones in the SuperChurn catalog, each checked against the bank's own terms:
| Bank | Bonus | What it takes | Ends |
|---|---|---|---|
| Wells Fargo Initiate Business Checking | up to $825 | $25,000 by day 30, kept through day 60 ($2,500 earns $400, $10,000 earns $550), plus 5 qualifying transactions | Nov 10 |
| Associated Bank Business Choice | $750 | $20,000 in new money within 30 days, kept above $20,000 on days 31 to 90 | Oct 31 |
| Chase Business Complete Checking | up to $500 | $10,000 in new money within 30 days, kept 60 days ($2,000 earns $400), plus 5 qualifying transactions within 90 days | Jan 21, 2027 |
| Axos Basic Business Checking | $200 | $50 for each of up to four of the first five statement months with an average balance of $3,000 | Jan 31, 2027 |
Notes on the table:
- None of them needs a direct deposit. They pay for a balance and some transactions, much like the savings and brokerage offers in the guide to bonuses that don't need a direct deposit.
- The lower tiers pay a much higher percentage. Chase's $2,000 tier pays $400, which is 20%. Wells Fargo's $2,500 tier pays $400, which is 16%. If you don't have a large balance, check the smaller tiers first.
- Associated Bank is regional and the account must stay open 12 months, or the bonus may be deducted.
- Axos is for new businesses only. The promotion is for businesses established less than one calendar year before the application, and Axos says it "may be verified via the Secretary of State or Business Formation documents." That could be a problem for a sole proprietor with no state filing, so ask before you apply. Axos's account must also stay open 180 days, or an early closure fee of up to $200 may apply.
- Dates and tiers change. Each offer page shows when it was last checked.
Business checking bonuses right now
Checked against each bank’s or issuer’s own terms. Some Apply links may earn us a commission, which never changes which offers we show. Advertiser disclosure
Wells Fargo
- Requirement
- Maintain $25,000 for 30 days · +1 more
- Fee
- $15 monthly fee
- Expiration
- Apply by Nov 10, 2026
Chase
- Requirement
- Maintain $10,000 for 60 days · +1 more
- Fee
- $15 monthly fee
- Expiration
- Apply by Jan 21, 2027
Limits that follow the owner, not just the business
Many business offers limit how often the same person, not only the same business, can get a bonus. From the offers above:
- Chase: "Signers can get one business checking offer every two years," and the offer isn't for existing Chase business checking customers.
- Wells Fargo: one business checking bonus per business and per owner in 24 months, and no bonus if you own a Wells Fargo business checking account or closed one in the last 90 days.
- Associated Bank: no bonus if you got a business checking bonus in the last 24 months and have or had an Associated business checking account in the last 12 months.
- Huntington: its business checking offer said owners may be limited to one cash bonus per rolling 24 months across business and personal accounts, so a personal bonus there could affect a business one.
The Huntington Unlimited Business Checking page shows that wording. Each offer page lists these rules in "Who can get this bonus," quoted from the bank's terms.
A few things to plan for
- Fees. Wells Fargo's account has a $15 monthly fee and Chase's has a $15 fee with several ways to waive it, such as a $2,000 minimum daily balance. Count the fees against the bonus.
- The balance. The big tiers tie up a lot of cash. The guide to bonuses that don't need a direct deposit shows how to weigh that against what the money would earn elsewhere.
- Taxes. Bank bonuses are generally taxable, and a business account can add questions about how it's reported. See whether bank bonuses are taxable, and ask a tax professional how to report a bonus paid to a business account.
- Closing. Check each offer's closing rule before you close the account. The guide to when you can close a bank account after the bonus explains what to look for.
- Credit cards are separate. Business checking has nothing to do with Chase 5/24, which counts personal credit cards. See whether Chase business cards count toward 5/24 for the card side.
FAQ
Can a sole proprietor get a business checking bonus? It depends on the bank and the bonus. Chase says a sole proprietor may be able to open with a personal Social Security number, and one Axos page says a sole proprietorship or single-owner LLC can use an SSN. The bonus itself can add rules, such as Axos's business-age requirement. Confirm with the bank before you apply.
Do I need an LLC? Chase's and Axos's pages say a sole proprietor can open an account, so an LLC isn't required there. An LLC is a separate choice with its own legal and tax effects, so talk to a professional before forming one for any reason.
Do I need an EIN? It depends on the bank. Chase says a sole proprietorship with no employees typically doesn't require one. Axos's pages differ on whether it's required, and Wells Fargo's page doesn't say, so ask.
Can I get both a personal and a business bonus from the same bank? It depends. Chase lists a business checking limit of one offer every two years, separate from its personal checking limit. Huntington's business offer said its limit runs across business and personal accounts. Check each offer's terms.
Does business checking count toward 5/24? No. Only personal credit cards count.
Can I open one online? Sometimes. Axos says you can open Basic Business Checking entirely online, Chase says you can open online or at a branch, and Wells Fargo's page mentions applying online. Wells Fargo prefers every owner to be present at a branch, and if one can't be, notarized forms are required. Associated's online opening is limited to nine states.
Sources
- Chase, "How to Open a Business Bank Account": https://www.chase.com/business/knowledge-center/start/what-do-you-need-to-open-a-business-account
- Wells Fargo, "How to Open A Business Bank Account: What You Need": https://www.wellsfargo.com/biz/required-documents/
- Axos Bank, Basic Business Checking: https://www.axosbank.com/business/business-checking-accounts/basic-business-checking
- Axos Bank, Banking for New Businesses: https://www.axosbank.com/business/solutions/new-business
- Offer terms for each linked account, as shown on its SuperChurn page (checked against the bank's own terms, September 25 to October 5, 2026).
SuperChurn isn't owned by or endorsed by any bank. This is general information, not legal, tax or financial advice. Requirements and offers change, so confirm them with the bank before you open an account.
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