Offer at a glance
- Maximum bonus amount: 500 dollars
- Availability: The physical address of the business must be located in the state of North Carolina
- Direct deposit required: ANY
- Additional requirements: $10,000 deposit for three full statement cycles
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card financing: Unknown
- Monthly fees: $20, avoidable
- Early account closure fee: Account must be opened with a minimum balance of $1,000+
- Family boundary: ANY
- Expiration date: 30.6.2026
Offers
- M&F Bank offers a $500 business bonus when you open a new Performance Check account and meet the following requirements within 90 days of account opening:
- Deposit $10,000+ within 14 days of account opening
- Maintain at least a $10,000 daily balance for the first 3 full statement cycles after account opening
Fine Press
- Offer Information: Open a new Performance Check account from 1/01/2026 to 6/30/2026, complete the following activities within 90 days of account opening and earn $500.
- Deposit at least $10,000 in new money within 14 days of account opening. Maintain at least a daily balance of $10,000 for the first 3 full statement cycles after account opening.
- Reward Processing: The reward will be deposited into the new checking account within 4 weeks after the eligibility requirements have been met and verified. The new checking account must be open and in good standing with a balance of at least $1,000.00 at the time of M&F verification and until the reward is deposited to claim the reward.
- Promotion applies only once per current account and per business. M&F Bank may report the value of any offered rewards received to the IRS as required by law.
- Any applicable taxes are the responsibility of the recipient.
- Reward Forfeiture: Reward forfeiture will occur if: (1) the checking account is changed to an account type not included in this customer offer prior to proof of eligibility, (2) the checking account is closed before the reward is deposited, or (3) the new checking account has a balance that is less than $1,000 at the time of proof of eligibility.
- Offer Eligibility: You must be a new M&F Bank Business Checking customer. To be considered a new business checking customer, the business cannot have an existing M&F business checking account or have closed an M&F business checking account within 180 days of the promotion start date with the same Employer Identification Number (EIN) or Social Security Number.
- The business account holder must be 18 years of age or older at the time the account is opened. The account holder must be a US citizen.
- The physical address of the business must be located in the state of North Carolina. Existing customers and/or employees of M&F Bank are not eligible for this offer.
- Offer is non-transferable, subject to change and may be terminated at any time. M&F Bank reserves the right at our discretion to withhold a reward payment for businesses that do not qualify.
- All promotional payments will be processed no later than 6/30/2026, at which point this promotion (and any related disbursements) will be considered final and no further disbursements will be made.
- All bank account bonuses are treated as income/interest and as such you must pay tax on them
Avoidance of fees
Monthly fees
Avoid monthly maintenance fees of $20 by maintaining a minimum daily balance of $10,000.
Early account termination fee
The new checking account must be open and in good standing with a balance of at least $1,000.00 at the time of M&F verification and until the reward is deposited to claim the reward. It says it will be deposited within four weeks of account opening.
Our verdict
Realistically you will need to tie up funds for ~4 months to activate the bonus as you need three full statement cycles with $10,000 in there. I can’t find any interest rate on this account, so I’m assuming it’s 0%. You are losing ~$133 in lost interest compared to one account earning 5% APY. It’s still worth doing if you qualify, you’re not sure what kind of business documents they’ll ask for.
Hat tip to the reader snail
Useful posts about bank bonuses:
