Offer at a glance
Maximum bonus amount: $700
Availability: TX
Direct deposit required: No
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: None
Monthly fees: $12, avoidable
Early account termination fee: None
Household limit: None
Expiration date: AUGUST 1, 2023
The Offer
Texas Capital Bank is offering a $700 bonus when you open a Select Business Checking Account or Elite Business Checking Account and complete the following requirements:
Fund your account within 30 days with at least $10,000
Complete at least 10 debit card transactions in three statement periods
• Maintained the Small Business Relationship balance tier of $25,000.00 – $49,999.99 in each month of the Maintenance Period:
$10,000.00 – $24,999.99 and earn $500 bonus
$25,000.00 – $49,999.99 and earn $600 bonus
$50,000.00 or greater and earn $700 bonus
The Fine Print
Offer Period: May 1, 2023 – August 1, 2023
Offer Rules:
1. Open a Select Business Checking Account or Elite Business Checking Account within the offer period.
2. Fund your Select Business Checking or Elite Business Checking account with $1,500 of new money to Texas Capital Bank within 30 days from account opening (the “Deposit Period”).
3. Complete 10 posted Debit Card and/or ACH transactions per month during the Maintenance Period on your Select Business Checking or Elite Business Checking account.1
4. Maintain a Small Business Relationship average monthly balance of a qualifying balance tier during the Maintenance Period.
5. Receive your qualifying Welcome Bonus tier
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
There is a $12 monthly fee, this is waived with an average collected balance of $1,500.
Early Account Termination Fee
As far as I know there is no EATF.
Our Verdict
Looks like you basically need to lock up the funds for three months to get the bonus. The $10,000 tier is by far the best return on your money. This works out to be a 20% annualized return. We will add this to our list of the best bank account bonuses.
Useful posts regarding bank bonuses:
A Beginners Guide To Bank Account Bonuses
Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
PSA: Don’t Call The Bank
Introduction To ChexSystems
Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
What Banks & Credit Unions Do/Don’t Pull ChexSystems?
How To Use Our Direct Deposit Page For Bank Bonuses Page
Common Bank Bonus Misconceptions + Why You Should Give Them A Go
How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
Affiliate Links & Bank Bonuses – We Won’t Be Using Them
Complete List Of Ways To Close Bank Accounts At Each Bank
Banks That Allow/Don’t Allow Out Of State Checking Applications
Bank Bonus Posting Times