[fl, Ma, Nj, Ny, Vt, In Branch?] Trustco Bank $350 Business Checking Bonus

Update 5/9/26: New $350 bonus, requires opening in branch and a $10,000 deposit but significantly bigger than the previous $150 and $200 offers. Hat tip to reader snailrock

Update 3/12/22: Deal is back, this time is $150 instead of $200.

Offer at a glance

• Maximum bonus amount: $150
• Availability: FL, MA, NJ, NY, VT, must open in branch [Branch locator]
• Direct deposit required: None
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: $10, waivable
• Early account termination fee: $26 if closed within three months + you forfeit bonus
• Household limit: None listed
• Expiration date: July 31st, 2019 September 14th, 2019 4/30/2022

The Offer

Direct link to offer

• Trustco Bank is offering a bonus of $350 when you open a new business checking account. You must complete the following requirements:
  • Deposit a minimum of $10,000 not currently on deposit at Trustco Bank
  • Qualify by completing 15 debit card purchases within the first 3 months and maintain a balance of $10,000 within the first 3 months

The Fine Print

• Promotional offer valid from 6/3/19 until 7/31/19.
• To receive the $200, you must open a new Home Town Business Checking Account.
• Minimum of $50 to open a Home Town Business Checking Account.
• Bonuses will be paid within 30 of account opening.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $5 monthly fee, waived with a minimum balance of $500+ or if reoccurring direct deposit of your merchant services

Early Account Termination Fee

If the account is closed within three months you have to pay a $26 fee, you also forfeit the bonus (this is the EATF for the personal account, not sure if it’s the same for the business account)

Our Verdict

There is also a personal $100 checking/$50 savings bonus. This business checking bonus is much better as there are no requirements. It’s not clear what type of business documents are required. We will be adding this to our list of the best checking account bonuses.

Hat tip to IS250

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