[AR, AL, FL, GA, KY, MS, NC, SC, TN, VA] First Horizon Bank $300 Business Checking

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Update 2/20/21: Deal is back and valid until March 31, 2021.

First Horizon is the new name for Capital Bank & First Tennessee.

Offer at a glance

  • Maximum bonus amount: $450
  • Availability: AR, AL, FL, GA, KY, MS, NC, SC, TN, VA
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Up to $300
  • Monthly fees: $15, avoidable
  • Early account termination fee: Six months, bonus forfeit
  • Household limit: One per business
  • Expiration date: June 30th, 2020 September 30th, 2020 3/31/2021

The Offer

Direct link to offer

  • First Horizon Bank is offering a $300 business checking bonus and a $150 business savings bonus.
    • Open a BizEssentials checking account at basic level or higher and complete the following requirements to receive a bonus of $300:
      • Make an opening deposit of $5,000+
      • Complete 5 qualifying transactions within 30 days of account opening
    • Open a BizEssentials saving account and get a $150 Visa gift card when you deposit a minimum of $2,500 at account opening

The Fine Print

Checking bonus:

  • Open your BizEssentials® Checking account at the Basic level or higher by 6/30/2020 with a minimum opening deposit of $5,000 AND complete 5 qualifying payment transactions within the first 30 days of account opening to receive the $300 bonus.
  • Qualifying payment transactions include checks, debit card purchases, ATM withdrawals, automatic bill payments, and online bill payments initiated through the bank’s Business Banking Online services, in any combination. Offer is non-transferable.
  • Limit one business checking bonus per company.
  • Opening deposit must be funds from a financial institution other than First Horizon Bank or its affiliates.
  • Transfers from any type of account at Bank or its affiliates do not qualify.
  • Offer and account opening subject to bank approval.
  • Customer agrees to maintain account in good standing for minimum of 6 months.
  • The $300 bonus will be credited to your account within 6 weeks of meeting all requirements and will be reported as income on Form 1099-INT.

Savings bonus:

  • Bonus gift card will be mailed to customer 4–6 weeks after account funding, and will be reported as income on Form 1099-INT.
  • Limit one gift card bonus per company.
  • Customer agrees to maintain account in good standing for a minimum of six months.
  • Minimum opening deposit is $2,500.
  • Opening deposit must be funds from a financial institution other than First Horizon Bank or its affiliates.
  • Transfers from any type of account at Bank or its affiliates do not qualify.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

BizEssentials checking basic has a $15 monthly fee, this can be waived with an average daily collected balance of $5,000+. Saving account has no monthly fee to worry about.

Early Account Termination Fee

Account must be kept open for six months otherwise the bonus will be forfeit

Our Verdict

This is the same bonus they used to have when they operated under the different names, it’s slightly better as the checking account only needs to be at the basic tier so it’s easier to keep fee free. Looks like you might only be able to open this account in branch currently so wouldn’t recommend it due to COVID-19. If anybody is able to open online or via the phone and get the bonus let us know in the comments. I’ll still add it to the best checking account bonus page for future reference.

Useful posts regarding bank bonuses:

Post history:

  • Update 10/11/20: Deal has been extended until 12/31/20.





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