TD Bank's $500 Business Checking Bonus: A Solid Deal for Small Business Owners

If you run a small business and are looking to pad your cash reserves a bit, TD Bank is currently offering a $500 cash back bonus for opening a new business checking account. It's a straightforward promotion that rewards you for moving your banking relationship over, and it runs through July 31, 2025. Let's break down what you need to do to snag that bonus and what to watch out for.

How to Qualify for the $500 Bonus

The requirements are actually pretty manageable, especially if you already run a decent amount of activity through your business account. Here's the two-step process:

First, you need to deposit at least $2,500 within the first 25 days after opening your account. That money has to stay put—you need to maintain a minimum daily balance of $2,500 for an additional 90 days after that initial 25-day window. So in total, you're looking at keeping that $2,500 in the account for about 115 days.

Second, you need to complete 25 qualifying transactions during your first three statement cycles. The good news is that a lot of everyday business banking activities count: ACH transfers, bill payments, debit card swipes, Zelle payments, checks, wire transfers, and even remote deposits. If you're actively using your account, hitting 25 transactions in three months should be no sweat.

Which Account Should You Choose?

TD offers four business checking accounts that qualify for this bonus. The simplest option is the Business Simple Checking, which has a low $10 monthly fee with no minimum balance required to waive it—perfect if you don't want to tie up a lot of cash. On the other end, the Business Premier Checking has a $30 monthly fee, but it's waived for the first three months and can be avoided by maintaining $40,000 in combined balances or having a TD Merchant Solutions account or business loan.

For most small businesses, the Business Convenience Checking Plus hits a sweet spot: its $25 monthly fee is waived if you keep a combined $2,500 daily balance across your business checking and a personal TD checking account. That's a pretty low bar if you're already parking the $2,500 for the bonus anyway.

Fine Print You Can't Ignore

This offer is only for new TD Bank business checking customers. If you currently have a TD business checking account, or if you've closed one in the last 12 months, you're out of luck. Also, if you've ever received a TD business checking bonus before, you won't qualify—this is a one-time deal per taxpayer ID.

The bonus will be reported to the IRS as interest income, so expect a 1099-MISC or similar form. And if you close your account within six months of opening it, TD will deduct the bonus amount from your closing balance.

One more thing: TD employees and Canadian cross-border banking customers are not eligible.

Is It Worth the Effort?

For a $500 payout, the requirements are reasonable. You need to deposit $2,500 and keep it there for a few months, plus run 25 transactions through the account. If you're already planning to open a business checking account, this is free money. Even if you have to shift some banking activity over temporarily, it's a solid return for a few months of attention.

Just be mindful of the monthly fees—pick an account that you can easily waive, and set a reminder to close or convert the account after the six-month mark if you don't plan to keep it long-term.

Bottom Line

• Deposit $2,500 within 25 days and keep it there for 90 more days to meet the balance requirement.
• Complete 25 qualifying transactions (ACH, debit card, bill pay, etc.) in your first three statement cycles.
• Choose an account with a waivable monthly fee to avoid unnecessary costs.
• Offer ends July 31, 2025—don't wait too long to apply.
• Plan to keep the account open for at least 6 months to avoid losing the bonus.

Common Questions