Farmers State Bank is offering new business customers a bonus of up to $1,000 when opening a qualifying business checking account and meeting deposit and transaction requirements during the first 90 days.
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Bonus Details
Bonus Amount: Up to $1,000
Account Type: Business Checking
Availability: Eastern Iowa
Maximum Bonus: $1,000
Bonus Tiers
Farmers State Bank offers three bonus levels based on your opening deposit and account activity.
Tier 1 – $300 Bonus
To earn the $300 bonus, you must:
- Open a new business checking account
- Deposit at least $5,000 in new money at account opening
- Maintain an average daily balance of at least $5,000 for 90 days
- Complete at least 10 transactions per month during the first 90 days
Tier 2 – $600 Bonus
To earn the $600 bonus, you must:
- Open a new business checking account
- Deposit at least $20,000 in new money at account opening
- Maintain an average daily balance of at least $20,000 for 90 days
- Complete at least 10 transactions per month during the first 90 days
Tier 3 – $1,000 Bonus
To earn the maximum $1,000 bonus, you must:
- Open a new business checking account
- Deposit at least $35,000 in new money at account opening
- Maintain an average daily balance of at least $35,000 for 90 days
- Complete at least 15 transactions per month during the first 90 days
Tier 3 customers also receive six months of ACH services or Positive Pay at no charge.
TRENDING DEAL:
What Counts as New Money?
“New money” refers to funds not currently on deposit with Farmers State Bank.
Funds withdrawn from Farmers State Bank and redeposited are not considered new money unless they have been outside the bank for at least 60 days.
Bonus Payment
Once all requirements are satisfied, the applicable bonus will be deposited into your account within 30 days.
Your account must remain open and in good standing when the bonus is credited.
Eligible Business Checking Accounts
Farmers State Bank offers several business checking options, including:
- Basic Business Checking
- Business Checking
- Business Checking Plus
- Commercial Checking
- Community Checking
All accounts are subject to approval.
Additional Business Banking Features
Business checking customers receive access to:
- Instant-issue contactless debit cards
- Business online banking and bill pay
- Custom account alerts
- Local customer support
- Seven branch locations across Linn and Johnson Counties
Eligibility
To qualify for the promotion:
- You must open a new business checking relationship with Farmers State Bank.
- Existing business checking customers are not eligible.
- One bonus is permitted per business.
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Bottom Line
The Farmers State Bank Business Checking Bonus offers one of the larger regional business banking promotions currently available, with bonuses ranging from $300 to $1,000. Businesses that can maintain larger balances for 90 days may find the Tier 3 bonus particularly attractive, effectively earning $1,000 plus six months of complimentary ACH or Positive Pay services.
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