You read that right — Republic Bank of Chicago is offering up to $2,000 to businesses that sign up for a new checking account through us because we want to make sure you are set up for the most secure financial future.
Choosing the right business checking account is essential, which is why Republic Bank provides a handful of options so you can find the best fit. That includes our Business Basic Checking, Business Advantage Checking, Commercial Checking, and Quick Coverage Line accounts.
- Business Basic Checking is designed for businesses with fewer than 100 transactions per month. There are no monthly maintenance fees or minimums required.
- Business Advantage Checking is designed for businesses with fewer than 200 transactions per month. There is a $15 maintenance fee that is waived with a $2,500 minimum average collected balance.
- Commercial Checking is designed for businesses with higher transaction volumes and higher balances. Fees are offset by an earnings credit.
- Quick Coverage Lines are designed to complement your business checking account. It has a $5,000 line of credit and covers overdrafts. It provides the peace of mind of extra cash flow when cash is tight.
So, How Do You Receive the Bonus?
As a new customer, once you sign up for one of the checking accounts above, your average daily balance will determine the bonus amount you can receive.
Average daily balance of $10,000 = Bonus of $250
Average daily balance of $25,000 = Bonus of $500
Average daily balance of $50,000 = Bonus of $1,000
Average daily balance of $100,000 = Bonus of $2,000
Ways to Use Your Business Bonus
There are many ways to use a little extra cash when running a business, but it’s important to use a bonus for what you need to keep the engine running smoothly and continue growing the business. Here are a few recommendations for how to use your business bonus:
- Make a dent in the balance of your outstanding debt, especially those with high-interest rates.
- Contribute as much as you can to your retirement account(s).
- Re-assess your investments and consider broadening your portfolio diversity.
- Put it into an existing emergency fund (or create one) for unexpected expenses.
Most importantly, a bonus that sits in a checking account for too long without thought or intention can quickly be spent unnecessarily. There are many ways to use a bonus that will turn it into even more money and financial security.
Have Questions?
At Republic Bank, our business checking accounts include free services such as online and mobile banking, bill payment, eStatements, mobile deposit, a cash-back debit card, direct deposit, and more. For more information or to open an account, speak to one of our bankers by calling 800-526-9127 or visiting our Business Checking Accounts page. Also, be sure to explore our other articles for more financial strategies.
