Dr. of Credit posted about a way to get $250 by opening a Spark Business Account from Capital one. This offer expires April 30, 2015 and it must be opened at a branch location. The total deposits must be $5,000 and you must make one online bill payment within 30 days to receive the bonus. To see if there is a location near you, check out here.
There are 3 types of checking accounts you can open that will qualify for this promotion.
- The Spark Business Cash Back Checking – this has a monthly fee of $15 but can be waived with $2k in average balances
- The Spark Business Interest Checking – this has a monthly fee $19 but can be waived with $10k in average balances
- The Spark Business Unlimited Checking – this has a monthly fee $35 but can be waived with $25k in average balances
Luckily there is a branch nearby me so I am taking this offer and my $5k to open up a Cash Back Checking account.
Here is what you need to bring to open up a Business Checking Account
- Personal information (name, date of birth, Social Security Number, etc.)
- E-mail address and phone number
- U.S. address and owner establishment date (not a P.O. box)
- Legal name of business and type of business
- Business establishment date with signer’s full name
- Tax ID number, ownership structure, number of employees
- Percent of ownership and annual gross revenue
Also in some states, if you have a sole proprietorship, you will need to provide an assumed name or Doing Business As “DBA” certificate. You don’t need an EIN # as you can just use your SSN.
Update 1: I went to my local TX branch and I did need an assumed name certificate so call your branch to see if you need one as well. They are relatively cheap to obtain. The whole process of opening an account took about 30 min.
Update 2: My bonus posted about a month after I made my initial deposit and completed the bill pay
While I’m there, I’ll probably look into getting the Spark Cash Business Credit Card which gives you a $300 bonus after you spend 5k in 3 months and add an “employee card”. It also has 2% cash back on all purchases and has 0 annual fee the first yr and $59 after that. Not too shabby a card.