[LA, NY, SC, TX, TN, AR, MS, AL, GA, KY, FL, NC & VA] First Horizon Bank $400/$800 Business Checking Bonus

Note: Terms state ‘Offer is only available to the addressee of the offer, is non-transferable, may not be combined with other offers’. You also have to request a code by filling in your information so should be able to get this bonus even if not targeted but YMMV.

Offer at a glance

• Maximum bonus amount: $800
• Availability: Offer is only available to residents of LA, NY, SC, TX, TN, AR, MS, AL, GA, KY, FL, NC and parts of VA
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, sensitive
• Credit card funding: Up to $50
• Monthly fees: None
• Early account termination fee: Six months, bonus forfeit
• Household limit: None
• Expiration date: 06/30/2024

The Offer

Direct link to offer

• First Horizon Bank is offering a bonus of $400 or $800 when you open a new business checking account.
  • $800 bonus:
    • Deposit $25,000 into the new BizEssentials Checking account within 15 days of the account opening.
    • Maintain at least a $25,000 collected daily balance for the first 3 full statement cycles.
    • Conduct 20 qualifying transactions within the first 3 full statement cycles.
  • $400 bonus:
    • Deposit $5,000 into the new BizEssentials Checking account within 15 days of the account opening.
    • Maintain at least a $5,000 collected daily balance for the first 3 full statement cycles.
    • Conduct 20 qualifying transactions within the first 3 full statement cycles.

The Fine Print

• Offer is only available to the addressee of the offer, is non-transferable, may not be combined with other offers, and is only available for new clients that have not had an account at First Horizon within the last 12 months. Opening deposit must be funds from a financial institution other than First Horizon Bank or its affiliates. Limit one bonus per company.

   

• To qualify for the $400 bonus, open a new BizEssentials Checking, BizEssentials Plus Checking, or BizEssentials Interest Checking account by 06/30/2024, deposit at least $5,000 within fifteen (15) days of account opening and maintain an average daily collected balance of $5,000 for the first three (3) full statement cycles and conduct a minimum of twenty (20) qualifying client-initiated transactions within the first three full statement cycles in the eligible First Horizon Bank checking account.

   

• To qualify for the $800 bonus, open a new BizEssentials Checking, BizEssentials Plus Checking, or BizEssentials Interest Checking account by 06/30/2024, deposit at least $25,000 within fifteen (15) days of account opening and maintain an average daily collected balance of $25,000 for the first three (3) full statement cycles and conduct a minimum of twenty (20) qualifying client-initiated transactions within the first three full statement cycles in the eligible First Horizon Bank checking account.

   

• BizEssentials Checking, BizEssentials Plus Checking, or BizEssentials Interest Checking accounts require a $100 minimum opening deposit. A qualifying client-initiated transaction may include deposits, checks paid, ACH items, and signature and PIN-based purchases made with a First Horizon Debit Card. The cash bonus will be deposited into your account within 10 business days after qualifying activities are met. Bonus will only be paid to open accounts with a positive balance. Other terms and conditions of your account are disclosed in your depositor agreement Bonus will be reported as interest earned on IRS form 1099-INT and recipient is responsible for any applicable taxes. Offer and account opening subject to bank approval.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

BizEssentials Checking account has no monthly fees to worry about.

Early Account Termination Fee

Previous terms say account need to be kept open for six months, but I don’t see that in the terms this time.

Our Verdict

Need to lock up funds for ~90 days, this works out to be an annualized return of:

• $400 bonus: 32%
• $800 bonus: 12.8%

Both offers are great. Best previous offer was for $300 but that had no hold period, still think this is a better bonus for most people. There is also a personal checking bonus for $450 that is worth doing. We will add this to the list of the best bank account bonuses.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times