Old National Bank Business Checking: Up to $800 Cash Bonus in Select States

If you run a small business in the Midwest, here's a deal that might be worth a trip to the bank. Old National Bank is offering cash bonuses for new business checking accounts, and the requirements are pretty straightforward. No direct deposit needed, no monthly fees on certain accounts, and you can even fund with a credit card. Let's break down how to get your hands on up to $800.

Two Bonus Tiers, One Simple Process

Old National is making it easy to earn a bonus without a ton of hoops. You've got two options depending on how much cash you can park.

For the $400 bonus, you need to deposit at least $4,000 within the first 30 days, keep that balance from day 31 through day 90, and log into Small Business Digital Banking within the first month. That's it.

If you can swing $20,000, the bonus jumps to $800. Same rules: deposit within 30 days, maintain the balance for days 31–90, and log in online. No direct deposit, no debit card transactions, no nonsense.

Where You Can Get This and What to Watch For

This offer is available in Illinois, Indiana, Kentucky, Michigan, Minnesota, Wisconsin, and now North Dakota (thanks to the Bremer Bank acquisition). But there's a catch — you have to open the account in person at a branch. No online applications here.

Also, keep the 36-month cooling-off rule in mind. If you've had a business deposit account with Old National in the past three years, or if you or any business owner was an authorized signer on one, you're not eligible. Same goes if you've already snagged a bonus from them in that window.

One more thing: Wisconsin customers will need the Essential Business Checking account instead of the Free Business Checking. I haven't seen confirmation on whether that one has a monthly fee, so ask at the branch before you sign up.

• Open in branch only — no online option
• 36-month cooldown since last business account or bonus
• Free Business Checking has no monthly fee (not available in WI)
• Early closure within 180 days costs $25

A Few Practical Tips to Make It Smooth

Since this is a business account, have your EIN or Social Security number ready, plus any business formation documents. The branch visit might take 30–45 minutes, so plan accordingly.

If you want to use a credit card for the initial funding (up to $500), you can use American Express, Visa, or Mastercard. Just be aware that some cards may treat this as a cash advance, so check with your issuer first.

And remember, the bonus is taxable income. You'll get a 1099-INT or similar form at tax time, so set aside some of that cash for Uncle Sam.

Bottom Line

• Earn $400 with a $4,000 deposit or $800 with $20,000 — no direct deposit needed
• In-branch only in IL, IN, KY, MI, MN, WI, ND; expires June 30, 2026
• No monthly fee on Free Business Checking (except WI), but $25 early closure fee within 180 days
• Soft credit pull, and you can fund up to $500 via credit card

Common Questions