Snag a $400 Bonus for Your Business at Cadence Bank

Hey there, small business owners and side hustlers. If you're in the market for a new business bank account and happen to live in one of a handful of southern and midwestern states, Cadence Bank has a pretty straightforward cash incentive worth a look. It's not the most complicated bonus out there, but like any bank offer, the devil is in the details. Let's break down whether this $400 is a good fit for your company's cash flow.

What You Need to Do to Get the Cash

This isn't a 'set it and forget it' kind of deal. You'll need to be proactive from the start, as the clock starts ticking as soon as you open the account. First, you have to visit a physical branch—online applications won't cut it for this promotion. Once you're approved for either the Business My Way or Business Checking Plus account, the real work begins.

You have a 30-day window to move at least $5,000 into the new account. That's just the first step. For the next three full statement cycles (roughly 90 days), that $5,000 needs to stay put as your average daily balance. If it dips below that on too many days, you could jeopardize the bonus.

Simultaneously, you need to use the account actively. A total of 15 'qualifying transactions' must post during that same 90-day period. The good news is the definition is broad: debit card purchases, bill payments, mobile check deposits, ACH transfers (in or out), and even wire transfers count. Making 15 of these over three months is very manageable for most active businesses.

The Fine Print You Can't Afford to Miss

Bank bonuses are wonderful until a small oversight costs you the money. Here are the crucial details to keep on your radar.

• **In-Person Only:** No exceptions. You must walk into a branch to open the account for this offer.
• **Balance is Key:** It's an *average daily collected* balance. One big withdrawal that leaves you at $100 for a week could tank your average. Plan your business cash flow carefully during these three months.
• **Eligibility Check:** You (or your business) cannot have been the primary owner of a Cadence business checking account that was closed within the last 12 months. This is a standard rule to prevent people from cycling accounts for bonuses.
• **Taxable Income:** Remember, that $400 will be reported to the IRS. The bank will send you a 1099 form, so plan to include it as income when you file your taxes.
• **Patience Required:** Don't expect the money the day you make your 15th transaction. The bank states it can take up to 90 days *after* you complete all steps for the bonus to land in your account.

Is This Account Worth Keeping After the Bonus?

A $400 bonus is great, but you don't want to be stuck with a high-fee account afterward. The good news is both eligible accounts have clear paths to avoid the monthly service charge.

For the Business My Way account ($10 monthly fee), you can waive it by keeping a mere $500 as a minimum daily balance or by making five debit card purchases each month. That's incredibly easy for most.

The Business Checking Plus account ($20 monthly fee) requires a $5,000 minimum daily balance or 10 debit card purchases monthly. If you're planning to keep the $5,000 in there anyway for operational reasons, the fee is a non-issue. If not, committing to 10 card swipes per month is the alternative.

Think about your business's banking patterns. If the ongoing requirements align with how you already operate, this could be a sensible long-term home for your funds. If not, there's no rule against closing the account after you get the bonus and the required time has passed—just check if there's an early closure fee first (the offer materials don't list one, but always verify).

Bottom Line

• A solid $400 offer with clear, achievable requirements for businesses with at least $5k to park for 90 days.
• The mandatory branch visit is the biggest hurdle; ensure you're in an eligible state and near a location.
• The monthly fees are easily avoidable, making it a potentially good long-term account, not just a bonus churn.
• Meticulously track your average balance and 15 transactions—don't leave it to chance.

Common Questions