[PA Only] Penn Community Bank $300 Business Checking

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Offer at a glance

  • Maximum bonus amount: $350
  • Availability: All locations in PA [Branch Locator]
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Yes
  • Credit card funding: Up to $500 per account, Mastercard & Discover accepted
  • Monthly fees: $12, avoidable
  • Early account termination fee:
  • Household limit: None listed, but one per TIN
  • Expiration date: October 31, 2021

The Offer

Direct link to offer

  • Penn Community Bank is offering a $300 bonus when you open a new Advantage Business Checking and complete the following requirements:
    • Maintain an average daily balance of $2500 or more for days 31-90 after account opening

The Fine Print

  • The up to $400 new account cash bonus offer is available for opening a new Advantage Business Checking account, as long as customer meets standard account eligibility requirements.
  • The program promotional code must be presented at account opening.
  • To receive the $300 new Advantage Business Checking cash bonus, the account must be opened within promotional period of June 20 – October 31, 2021 with $25 or more and maintain a daily balance of $2500 or more for days 31-90 after account opening.
  • Bonus balance requirement is for new account cash bonus eligibility only; standard account balance requirements to avoid a monthly service fee will still apply.
  • To earn an additional $100 cash bonus, checking bonus offer requirements must be met, and within the first 90 days of checking account opening must open under same business TIN as checking a new PennEdge loan or line of credit.
  • New account bonus(es) will be deposited to the checking account within 45 days after meeting offer requirements.
  • New account bonus offer available to new business checking customers only.
  • Must not have closed a checking account within the preceding twelve (12) months or have received a prior new checking account incentive.
  • Limit one bonus offer per business
  • TIN. If multiple accounts are opened with the same TIN, only one account will be eligible for the bonus. Account must be open, active and in good standing at time of incentive fulfillment to receive bonus(es).
  • If account is closed within six (6) months from date of opening, early termination fee may apply, and amount of new account bonus received will be debited from final account balance.
  • All bonuses are subject to 1099 reporting. Offer subject to change without notice.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Advantage business checking has a $12 monthly fee. This is waived:

  • $7500 daily checking balance or $15,000 combined daily deposit account balance

Early Account Termination Fee

There is an early closing fee if the fee is closed within 6 months.

Our Verdict

Better than the previous $300 business checking/savings bonus. The main issue is keeping the account fee free, that requires a $7,500 daily balance. If you can meet that requirement and have a business it is worth doing. We will add this to the best bank account bonuses.

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