Offer at a glance
- Maximum bonus amount: $50,000
- Availability: Nationwide
- Direct deposit required: No
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, extremely sensitive according to some datapoints but others say not sensitive so YMMV
- Credit card funding: Can fund up to
$5,000$500 with a credit card - Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: October 31, 2025
The Offer
Direct link to offer
- SkyOne is offering a business bonus of up to $50,000. You receive a 1% bonus on qualified deposits when you maintain that balance for 90 days. Must deposit a minimum of $100,000.
The Fine Print
- The Business Banking Bonus Offer is available to new and existing business members of SkyOne Federal credit Union who meet the eligibility criteria described below.
- This Offer is valid through October 31, 2025, unless modified or cancelled at the discretion of SkyOne without prior notice.
- Eligibility for New Business Accounts:
- Open a new eligible business checking or savings account with SkyOne during the promotional period.
- Maintain an average balance of $100,000 or more in the new account during the first 90 calendar days from the account opening date.
- Eligibility for Existing Business Accounts:
- Maintain an average balance of $100,000 or more above your average daily balance for the preceding 90 calendar days (baseline period), measured from the first day of the promotional period or enrollment date, whichever is later.
- The increased balance must be maintained for 90 consecutive calendar days.
- Bonus Payment: Eligible accounts will receive a bonus equal to 1% of the qualifying average balance (maximum of the qualifying balance threshold met) during the 90-day qualification
period. - Bonus available on up to $5 Million per business account.
- Bonus for existing members is paid only on the amount above the 90 day average balance and not on existing balances.
- The bonus will be deposited into the eligible business account within 60 calendar days after all requirements have been met.
- Bonus payments are considered interest and may be reported on IRS Form 1099-INT or other applicable tax forms. The business is responsible for any applicable taxes.
- Additional Terms: Average balance is calculated by adding the daily end-of-day balance for the qualification period and dividing by the number of days in the period
Accounts must remain open and in good standing through the date the bonus is paid to receive the bonus. - This Offer is non-transferable and cannot be combined with other promotions unless otherwise stated.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has n monthly fees
Early Account Termination Fee
Our Verdict
High yield savings account offers 3% APY, that is your best option. This bonus works out to be an additional 4% annualized for 7% APY total. Good deal if you need to tie up large amounts for 90 days.
Hat tip to reader ShawntheShawn
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
