LIVE OAK BUSINESS BANKING
EARN UP TO $300
Open a business savings account and/or a small business checking account by March 31, 2023, with qualifying activities, to receive up to $300 in bonus cash.
$150 Cash Bonus for
Business Savings
Take these steps to qualify1:
1. Open a Live Oak business savings account between 2/15/23 and 3/31/2023.
2. Deposit at least $10,000 into your account by 3/31/2023.
3. Maintain a balance $10,000 or more for 90 days and watch your business savings grow with 4.00% APY3.
Must be a first-time Live Oak business savings customer to be eligible for this bonus offer.
$150 Cash Bonus for
Small Business Checking
Take these steps to qualify2:
1. Open a new Live Oak Bank business checking account between 2/15/2023 and 3/31/2023.
2. Deposit at least $2,000 into your new business checking account within 90 days of opening.
3. Make 20 qualified transactions within 90 days of opening your account.
Must be a first-time Live Oak small business checking customer to be eligible for this bonus offer.
BETTER SAVINGS THAN YOUR BIG BANK
4.00
Annual Percentage Yield3
No monthly fee
Our accounts have no online banking or monthly maintenance fees
FDIC insurance4
Funds deposited are insured up to $250,000
Online account opening
Open your account in minutes and manage it completely online
Human-powered service
Our customer success team is dedicated to providing you personalized support
BANKING FOR THE SELF-EMPLOYED
Our checking account is a good fit for businesses that:
Take payment via Venmo, Square, PayPal or Stripe
Make smaller or limited monthly transactions
The business owner manages the finances
Do not need to make cash deposits
We understand how valuable time is to your business, so here are the main pieces of information you need to open your new business banking accounts:
Social Security Number
External bank account number & routing number
Articles of Organization document
Business EIN
FAQs
You must be a first-time customer of Live Oak's business savings and a first-time customer of Live Oak's business checking to be eligible for both. Then, you will need to take these actions:
Business Savings:
1) Open a Live Oak business savings account between 2/15/23 and 3/31/2023.
2) Deposit at least $10,000 into your account by 3/31/2023.
3) Maintain a balance $10,000 or more for 90 days and watch your business savings grow with 3.50% APY*.
Small Business Checking:
1) Open a new Live Oak Bank business checking account between 2/15/2023 and 3/31/2023.
2) Deposit at least $2,000 into your new business checking account within 90 days of opening.
3) Make 20 qualified transactions within 90 days of opening your account.
Live Oak is currently offering two separate bonuses. You can open either a business savings account or a business checking account, and if you meet the qualifications, you can receive a $150 cash bonus. Or, if you open both accounts and meet all qualifications, you could receive $300 in bonus cash.
You can only qualify for one offer per product. You must be a first-time Live Oak business savings customer to qualify for the business savings bonus and a first-time Live Oak small business checking customer to qualify for the small business checking bonus.
The cash bonus(s) will be deposited to your open, eligible account within 45 days after the 90-day activity period ends.
To qualify for the cash bonus(s), you must add new money to your new Live Oak small business checking account or business savings account – transfers from existing Live Oak accounts do not qualify.
Qualifying debit transactions include ATM withdrawals, debit card purchases, ACH payments, and paid checks. Each transaction must equal at least $20. Internal transfers, fees, debit card refunds and transaction reversals do not count as qualifying transactions for bonus offer.
Qualifying debit transactions include ATM withdrawals, debit card purchases, ACH payments, and paid checks. Each transaction must equal at least $20. Internal transfers, fees, debit card refunds and transaction reversals do not count as qualifying transactions for bonus offer.
Our Customer Success Managers are available Monday through Friday 8:00 a.m – 8:00 p.m. ET. You can reach them by calling 866.518.0286.
1. Important Information about this Business Savings Bonus Offer:
Bonus offer is only available to new business savings customers. One offer per business or per authorized signer. To be eligible for the $150 bonus offer, a new Live Oak Bank business savings account must be opened, approved and funded with at least $10,000 in new money by 11:59 p.m. ET on 3/31/2023.
A balance of $10,000 or more must be maintained for at least 90 days from the date of funding. Funds deposited by ACH, check, transfer, or wire must be drawn from an external financial institution to qualify. Deposits transfers originating from an existing Live Oak Bank Personal or Business account via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
This bonus offer is available to new business savings customers. The opening of a new account will be subject to approval. Only one bonus offer per customer, business or authorized signer, will be awarded. Eligibility will be limited based on account ownership. Deposited funds must be collected to be eligible towards bonus offer. The $150 cash bonus will be deposited to your open, eligible account within 45 days of the 90-day activity period ends. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without, notice if fraud or gaming is suspected.
The bonus payout may be subject to tax reporting. Fiduciary accounts (e.g., trusts) not eligible for this offer. Offer cannot be combined with any other savings offer and is limited to one bonus per account and per authorized signer.
Offer expires on 11:59 p.m. ET on 3/31/2023.
To receive this bonus, the new account must not be closed or restricted at the time of payout. Live Oak Bank employees do not qualify.
2. Important Information about this Small Business Checking Account Bonus Offer:
Bonus offer is only available to new small business checking customers. One offer per business or per authorized signer. To be eligible for the $150 bonus offer, a new Live Oak Bank small business checking account must be opened and approved by 11:59 p.m. ET on 3/31/2023.
The customer must also deposit at least $2,000 of new money into the small business checking account within 90 days of opening the account. Funds deposited by ACH, check, transfer, or wire must be drawn from an external financial institution to qualify. Deposits transfers originating from an existing Live Oak Bank Personal or Business account via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
The customer must also make 20 qualified transactions within 90 days of opening the account. Qualifying debit transactions include ATM withdrawals, debit card purchases, ACH payments, and paid checks. Each transaction must equal at least $20. Internal transfers, fees, debit card refunds and transaction reversals do not count as qualifying transactions for bonus offer.
The opening of a new account will be subject to approval. Only one bonus offer per customer, business or authorized signer, will be awarded. Eligibility will be limited based on account ownership. Deposited funds must be collected to be eligible towards bonus offer. The $150 cash bonus will be deposited to your open, eligible account within 45 days of the 90-day activity period ends. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without, notice if fraud or gaming is suspected.
The bonus payout may be subject to tax reporting.
Fiduciary accounts (e.g., trusts) not eligible for this offer. Offer cannot be combined with any other checking offer and is limited to one bonus per account and per authorized signer.
Offer expires on 11:59 p.m. ET on 3/31/2023.
To receive this bonus, the new account must not be closed or restricted at the time of payout. Live Oak Bank employees do not qualify.
3. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 3/23/2023. No minimum opening balance or deposit required to open. Rates may change at any time without prior notice, before or after the account is opened. No minimum balance to open, but customers must have a balance of $0.01 to earn interest. Fees may reduce earnings.
4. Live Oak Bank is a member of the Federal Deposit Insurance Corporation (FDIC). As a Live Oak Bank customer, your Live Oak Bank deposits are insured by the FDIC up to $250,000 per depositor, for each account ownership category.