Farmers Insurance Federal Credit Union offers up to $1,500 business checking bonus
Farmers Insurance Federal Credit Union, a financial cooperative serving members, is offering a new business checking bonus up to $1,500 for business accounts, according to Doctor of Credit. To qualify for a given tier, the business must deposit the applicable minimum amount into the new business checking account within 30 days of account opening.
Deposits may be made in increments during the deposit period if needed to reach the threshold, provided each increment independently qualifies as new money not currently on deposit with the credit union. The business must maintain the required minimum average daily balance for its tier in the account from day 31 through day 90 after account opening.
In addition, the business must complete any combination of five qualifying transactions that post to the account within 90 days of account opening, including debit card purchases, ACH transfers, wires, bill pay, and mobile deposits. Businesses must also enroll in online banking and e-statements within 90 days of account opening.
Bonuses are paid up to 45 days after the end of the 90-day qualification period into the business membership savings account, with a limit of one promotional incentive per tax identification number. Basic business checking carries a $10 monthly fee, which is waived with a $5,000 average daily balance.
Review the terms and check whether your business meets the membership and location requirements before applying for the account.
