Broadway Bank's Texas-Sized Bonuses: $300 for Personal, $400 for Business

If you're in Texas and have been thinking about switching banks or opening a new business account, Broadway Bank has put some serious cash on the table to get your attention. Right now, they're running two separate promotions that could put hundreds of dollars in your pocket just for banking with them. Let's break down what's actually required and whether these offers are worth the effort.

The $300 Personal Checking Playbook

This one's straightforward if you meet the geographic requirement and can handle a few specific tasks. You'll need to open what Broadway calls a 'Free Checking' account, which thankfully lives up to its name with no monthly maintenance fee.

Here's the game plan: once your account is open, you have 90 days to complete two main requirements.

• Set up at least two qualifying direct deposits that total $2,000 or more
• Make 15 separate debit card purchases (ATM withdrawals don't count)

What Counts as a 'Qualifying' Direct Deposit?

This is where people often trip up. Broadway is pretty specific: the money needs to come from your employer, payroll provider, or benefits provider via ACH. They're looking for deposits clearly marked with salary or payroll indicators.

What won't work? Pretty much everything else: peer-to-peer transfers (like Venmo or PayPal), check deposits, bank transfers between your own accounts, loan proceeds, or wire transfers. If your gig work payments come through platforms like DoorDash or Uber, those likely won't qualify either. It's worth checking with your HR department to confirm how your pay is processed.

The Business Bonus: More Money, More Moving Parts

For Texas-based businesses, the offer is structured differently. You can earn either $300 or $400 depending on how much you keep in the account. You'll need to open one of three specific business checking accounts: Advantage, Preferred, or Essentials.

The requirements here involve a combination of initial funding, transaction volume, and maintaining a balance.

• Deposit at least $2,000 in 'new money' (not already at Broadway) within your first 30 days
• Complete 10 qualifying transactions within 90 days (debit card purchases, checks, or ACH transactions count)
• Maintain a specific average balance over the next 90 days: $2,000-$24,999 for $300, or $25,000+ for $400

Watch Out for These Fine Print Details

Both promotions have some important restrictions that could make or break your eligibility. First, you absolutely must use the promo code when opening the account—CKPR for personal, BCPR for business. Forget this step and you're out of luck.

Existing customers aren't automatically excluded, but there are rules. For the personal offer, you can't have been a primary signer on a Broadway checking account in the past 12 months. Business customers face a similar 12-month lookback period.

Also note that if you close either account within 90 days of opening, you'll get hit with a $15 early termination fee. The bonus itself should land in your account within 30 days after you complete all requirements, and yes, the bank will report it to the IRS if necessary.

Is This Worth Your Time?

For Texas residents, these are competitive offers. The $300 personal bonus is solid, though the 15 debit card transactions requirement means you'll need to actually use this as a spending account, not just a direct deposit landing spot.

The business bonus is more nuanced. If you naturally maintain $25,000 in business operating cash, grabbing the extra $100 makes sense. But if keeping that much tied up would strain your cash flow, the $300 tier is still worthwhile. Just remember that business accounts may have monthly fees ($4 to $22 depending on the account type), though these can often be waived by meeting balance requirements.

One final thought: Broadway is a regional bank with branches primarily in Texas. If you travel frequently or move out of state, consider whether you're comfortable with a bank that has limited geographic reach. For Texans who plan to stay put, that's less of a concern.

Bottom Line

• Both offers require Texas residency and specific promo codes (CKPR for personal, BCPR for business).
• The personal bonus hinges on employer direct deposits—gig economy payments likely won't qualify.
• Business bonus tiers reward higher balances; don't overextend your cash flow just for an extra $100.
• Accounts must stay open at least 90 days to avoid a $15 early closure fee and receive the bonus.

Common Questions