Citizens Bank is offering a tiered business checking account bonus of up to $1,500, including a $750 bonus for those who deposit and maintain $30,000 in a new Business Advisor Checking® or Clearly Better Business Checking® account. This promotion is available by invitation (YMMV) to targeted residents in Connecticut (CT), Delaware (DE), Massachusetts (MA), Michigan (MI), New Hampshire (NH), New Jersey (NJ), New York (NY), Ohio (OH), Pennsylvania (PA), Rhode Island (RI), Vermont (VT), Virginia (VA), Washington D.C. (D.C.), Maryland (MD), and Florida (FL). Eligible customers must open their account between May 10 and May 16, 2025, deposit and maintain the required balance through August 31, 2025, and complete five qualifying transactions within 60 days of account opening. The offer expires on May 16, 2025.
Direct Link to OFFER
Citizens Bank $750 Business Checking Bonus
Offer Details
- Maximum
Bonus Amount: Up to $1,500
- Eligible
Locations: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD,
FL
- Direct
Deposit Required: No
- Additional
Requirements: Qualifying balance deposit and transaction activity
(details below)
- Credit
Inquiry: Soft pull only
- ChexSystems
Review: Mixed outcomes reported
- Credit
Card Funding: Not available
- Monthly
Maintenance Fees:
- $0
for Clearly Better Business Checking®
- $25
for Business Advisor Checking® (can be waived)
- Early
Account Closure Fee: None
- Offer
Expiration Date: May 16, 2025
Eligible Account Types
- Business
Advisor Checking® and Clearly Better Business Checking® are the
two accounts eligible for this bonus program.
Bonus Tiers
- $300
bonus for a $5,000 deposit
- $500
bonus for a $15,000 deposit
- $750
bonus for a $30,000 deposit
- $1,500
bonus for a $100,000 deposit
All funds must be maintained until August 31, 2025.
Direct Deposit Requirement
- No
direct deposit is required to qualify for any tier of the bonus,
making this offer accessible to small businesses without payroll setups.
Eligibility and Requirements
Invitation-Only Offer
- This
promotion is targeted and non‐transferable; only customers who
receive the mailer at their address can participate.
Credit and Systems Checks
- Citizens
Bank performs a soft pull on ChexSystems, and outcomes may vary;
some applicants may face mixed data points in ChexSystems reviews.
Qualifying Transactions
- Applicants
must complete five qualifying debit, ACH, or other transactions
(exclusions apply) within the first 60 days of account opening to earn the
bonus.
Account Features and Fees
Monthly Maintenance Fees
- Clearly
Better Business Checking®: $0 monthly fee
- Business
Advisor Checking®: $25 monthly fee, which is waived with either
a $10,000 average daily balance or $35,000 monthly combined balance.
Early Account Termination
- There
is no early account termination fee, though closing the account
before bonus fulfillment may forfeit the bonus eligibility.
Tax Treatment
- Bank
bonuses are considered taxable income/interest, and customers
should plan to report the bonus to the IRS.
Analysis and Verdict
Bonus Yield
- When
annualized, the returns approximate:
- $300
bonus → ~24% APY
- $500
bonus → ~13.3% APY
- $750
bonus → ~10% APY
- $1,500
bonus → ~6% APY
Larger bonus tiers require more capital and thus yield lower percentage returns.
Market Context
- Bank
promotions like this are part of a broader industry trend to attract new
business customers amid competitive deposit pricing and interest rate
pressures, as banks vie for deposit growth.
Conclusion and Next Steps
Businesses in the eligible states holding off on a new checking account might consider this limited‐time bonus before it expires on May 16, 2025. Compare this offer with other current bonuses from national and regional banks to choose the best fit for your cash management needs. Discuss with your financial advisor or banker to ensure you meet all requirements and understand the tax implications before enrolling.