Most products on this page are from partners who may compensate us. This may influence which products we write about and where and how they appear on the page. However, opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain.

Many banks offer a cash bonus when you open a new checking account or high-yield savings account to compete for your business and attract new customers. To qualify for these one-time bank promotions, you'll often need to set up direct deposit and keep the account open for a few months, or meet other requirements. Here's a look at the best bank account bonuses available right now and the requirements you need to meet to earn them.

Best Bank Account Bonuses

Bank bonuses are a relatively risk-free way to earn money with your unused cash. However, earning bank bonuses for opening personal checking accounts and savings accounts does take effort, especially when you're working with multiple banks.

Bank Account Details
Chase logo

Chase Total Checking®

(Nationwide)

  • Bonus Offer: $300
  • Minimum Deposit: $500
  • Direct Deposit: Yes
  • Expiration Date: 4/17/24
Chase logo

Chase Secure Banking℠

(Nationwide)

  • Bonus Offer: $100
  • Minimum Deposit: $0
  • Direct Deposit: No
  • Expiration Date: 4/17/24
Chase logo

Chase College CheckingSM

(Nationwide)

  • Bonus Offer: $100
  • Minimum Deposit: $0
  • Direct Deposit: No
  • Expiration Date: 4/17/24
Chase Private Client logo

Chase Private Client Checking℠

(Nationwide)

  • Bonus Offer: $1,000-$3,000
  • Minimum Deposit: $150,000 – $500,000
  • Direct Deposit: No
  • Expiration Date: 4/17/24

SoFi Checking and Savings

(Nationwide)

  • Bonus Offer: $50-$300
  • Minimum Deposit: $1,000-$5,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
US Bank

U.S. Bank Smartly® Checking and Standard Savings (Member FDIC)

(Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm)

  • Bonus Offer: Up to $800
  • Minimum Deposit: $3,000
  • Direct Deposit: Yes
  • Expiration Date: 03/12/24

HSBC Premier Checking

  • Bonus Offer: Up to $4,000
  • Minimum Deposit: $100,000
  • Direct Deposit: Yes
  • Expiration Date: 3/27/24

Citizens Bank Checking

(CT, DE, D.C., FL, MA, MI, NH, NJ, MD, NY, OH, PA, RI, VT and VA)

  • Bonus Offer: Up to $400
  • Minimum Deposit: $500
  • Direct Deposit: Yes
  • Expiration Date: 4/11/24
Axos personal loans

Axos Rewards Checking

(Nationwide)

  • Bonus Offer: Up to $300
  • Minimum Deposit: $7,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
PNC Bank logo

PNC Bank Virtual Wallet

(Open to all U.S. residents; offers vary by zip code)

  • Bonus Offer: $100-$400
  • Minimum Deposit: $500-$5,000
  • Direct Deposit: Yes
  • Expiration Date: 4/30/24

TD Bank Beyond and Convenience Checking Accounts

(CT, DE, DC, FL, ME, MD, MA,
NH, NJ, NY, NC, PA, RI, SC, VT & VA)

  • Bonus Offer: $200-$300
  • Minimum Deposit: $500-$2,500
  • Direct Deposit: Yes
  • Expiration Date: 3/31/24
BMO Harris logo

BMO Smart Advantage, Smart Money and Relationship Checking  Accounts

(FL, IL, WI, MN, IN, AZ, KS, MO)

  • Bonus Offer: $250-$400
  • Minimum Deposit: $4,000-$7,500
  • Direct Deposit: Yes
  • Expiration Date: 5/03/24
M&T Bank logo

M&T Bank Checking Accounts

(CT, DE, FL, ME, MD, MA, NH, NJ, NY, PA, RI, VT, VA, DC, WV)

  • Bonus Offer: $200
  • Minimum Deposit: $500
  • Direct Deposit: Yes
  • Expiration Date: 5/31/24
Huntington Bank logo

Huntington Bank Perks Checking and Platinum Perks Checking Accounts

(OH, MI, IN, PA, KY, WV, IL) (CO, IL, IN, KY, MI, MN, OH, PA, SD, WV, WI)

  • Bonus Offer: $400-$600
  • Minimum Deposit: $1,000-$25,000
  • Direct Deposit: Yes
  • Expiration Date: 6/7/24
FirstBank logo

First Bank (Bloom) Checking and Savings

(AZ, CA, CO)

  • Bonus Offer: $300
  • Minimum Deposit: $1,500
  • Direct Deposit: Yes
  • Expiration Date: 4/1/24
Bank of America logo

Bank of America Checking Accounts

(Nationwide)

  • Bonus Offer: $200
  • Minimum Deposit: $2,000
  • Direct Deposit: Yes
  • Expiration Date: 5/31/24
Wells Fargo logo

Wells Fargo Everyday Checking Account

(Nationwide)

  • Bonus Offer: $300
  • Minimum Deposit: $1,000
  • Direct Deposit: Yes
  • Expiration Date: 4/1/24
Stanford Federal Credit Union logo

Stanford Federal Credit Union Checking Account

(CA)

  • Bonus Offer: $250
  • Minimum Deposit: $7,500
  • Direct Deposit: Yes
  • Does Not Expire
Bank Account Details
bank logo

TD Bank Savings

(CT, DE, DC, FL, ME, MD, MA,
NH, NJ, NY, NC, PA, RI, SC, VT & VA)

  • Bank Bonus: $200
  • Minimum Deposit: $10,000
  • Direct Deposit: No
  • Expiration Date: 3/31/24

SoFi Checking and Savings

(Nationwide)

  • Bonus Offer: $50-$300
  • Minimum Deposit: $1,000-$5,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
FirstBank logo

First Bank (Bloom) Checking and Savings

(AZ, CA and CO)

  • Bank Bonus: $300
  • Minimum Deposit: $1,500
  • Direct Deposit: Yes
  • Expiration Date: 4/1/24

Alliant Credit Union Ultimate Opportunity Savings Account

(Nationwide)

  • Bank Bonus: $100
  • Minimum Deposit: $1,200
  • Direct Deposit: No
  • Expiration Date: 12/31/24
Bank Account Details
chase business logo effective october 2021

Chase Business Complete Checking®

(Nationwide)

  • Bank Bonus: $400
  • Minimum Deposit: $2,000
  • Direct Deposit: No
  • Expiration Date: 4/18/24
U.S. Bank logo

U.S. Bank Business Checking (Member FDIC)

(Nationwide)

  • Bank Bonus: $350-$800
  • Minimum Deposit: $5,000-$25,000
  • Direct Deposit: No
  • Expiration Date: 4/23/24
Axos personal loans

Axos Business Checking Accounts

(Nationwide)

  • Bank Bonus: Up to $400
  • Minimum Deposit: $25,000
  • Direct Deposit: No
  • Expiration Date: 6/30/24
Huntington Bank logo

Huntington Business Checking Accounts 

(CO, IL, IN, KY, MI, MN, OH, PA, SD, WV, WI)

 

  • Bank Bonus: $100-$1,000
  • Minimum Deposit: $2,000-$20,000
  • Direct Deposit: No
  • Expiration Date: 4/30/24
PNC Bank logo

PNC Bank Business Checking Accounts

(Open to all U.S. residents)

  • Bank Bonus: $200-$1,000
  • Minimum Deposit: $5,000-$100,000
  • Direct Deposit: No
  • Expiration Date: 3/31/24


These bank promotions are updated periodically and are accurate as of March 2024.

Best Checking Account Bonus Offers

If you're unsure where to begin your search for new bank bonuses, we recommend you consider the following accounts. Each of these featured accounts offers something special to customers, be it an unusually high bonus, easy-to-complete requirements or long-term ongoing value.

Chase Total Checking®: $300 Bonus Offer

Bank account bonuses aren’t rare, but some of them require you to jump through a lot of hoops. For example, you may be required to make a certain number of debit card purchases, set up and use a bill pay feature, or deposit a significant amount of money and keep it there for several consecutive months.

However, with the Chase Total Checking bonus, all you have to do is open an account and recieve direct deposits totalling $500 or more within 90 days to earn the $200 bonus. Read our full review of Chase Total Checking.

  • Offer expiration: April 17, 2024
  • How much you get: $300
  • How to qualify: Open a new account and set up a direct deposit of your paycheck, pension or government-issued benefits check. Then, receive $500+ in direct deposits in the first 90 days from coupon enrollment.
  • How to get the offer: Open a new account through this partner link, set up a direct deposit and receive at least $500 in direct deposits within 90 days of account opening
  • When you get it: Once eligibility requirements have been met, you'll receive your $300 bonus within 15 days, provided your account is in good standing

Verdict

While Chase Total Checking is a standard, no-frills account that, for some reason, carries a monthly fee, the upside is that Chase is a quality bank. It has a sound reputation for providing excellent customer service, and many people will likely find an ATM or branch within 10 miles of their homes. The bonus is generous, and if you prioritize in-person services—this could be the account for you.

Visit Chase


Chase Secure Banking℠: $100 Bonus Offer

Right now, new Chase Secure Banking customers can enjoy a $100 bonus when they open a new checking account with qualifying activities.

While the $4.95 monthly service fee means that your account won’t be free, it does feature several valuable benefits, including zero fees on most everyday transactions. Read our full review of Chase Secure Banking.

  • Offer expiration: April 17, 2024
  • How much you get: $100
  • How to qualify: Open a new account and complete qualifying transactions
  • Qualifying transactions: Complete at least 10 qualifying transactions within the first 60 days of coupon enrollment (account opening). Qualifying activities include debit card purchases, online bill payments, Zelle transactions, remote deposits (aka Chase QuickDeposits) and ACH credits. (Note: Direct deposit is not a qualifying transaction for this sign-up bonus offer.)
  • How to get the offer: Open a new account through this partner link
  • When you get it: Once eligibility requirements have been met, you'll receive your $100 bonus within 15 days, provided your account is in good standing

Verdict

You won’t frequently find a bank bonus for a second-chance account, which is what Chase Secure Banking is essentially designed to be. If you’re in the process of rebuilding your  personal finances and credit profile, then this account offers flexible qualifications for account opening. So an extra $100 to get you started could be a lucrative opportunity—just be sure you have the liquid finances to waive the monthly fee.

Visit Chase


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Chase Business Complete Checking®: $400 Bonus Offer

Chase Business Complete Checking is the bank's flagship business checking account, and it offers all of the benefits you'd expect from one of the largest banks in the U.S.

Qualifying for its bonus isn’t difficult, but there are a series of qualifying activities you’ll need to complete to be eligible. Our full review details everything you need to know about Chase Business Complete Checking.

  • Offer expiration: April 18, 2024
  • How much you get: $400
  • How to qualify: Open and fund a new account with at least $2,000 within the first 30 days from account opening, maintain at least a $2,000 balance for 60 days, and complete at least five qualifying transactions within the first 90 days of opening your account.
  • Qualifying transactions: Qualifying activities include debit card purchases, Chase QuickDeposit, Chase QuickAccept Deposits, ACH credits, Chase Online Bill Pay and wire transfers
  • How to get the offer: Open an account through this partner link
  • When you get it: After you have completed all the above checking requirements, your bonus will be deposited into your new account within 15 days

Verdict

Chase Business Complete Checking stands out with its generous bonus for new customers and its nationwide network of ATMs and branches. Keep in mind that this account does carry a sizable monthly fee, which can be waived. Still, for those who don’t require in-branch services, you may find more affordable options that also pay a higher rate of interest.

Recommended Bank Bonuses

Bank Account Intro Bonus Minimum Deposit Learn More

SoFi Checking and Savings

$50-$300Expires June 30, 2024 More Info

New customers can earn a $300 bonus for opening a new SoFi Checking and Savings account and receiving a total of $5,000+ in qualifying direct deposits within the specified evaluation period; receive $1,000 - $4,999 in qualifying direct deposits to earn a $50 bonus.

N/A
U.S. Bank logo

U.S. Bank Smartly® Checking Account (Member FDIC)

Up to $800Expires March 12, 2024 More Info

Earn up to $800 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through March 12, 2024. Member FDIC. Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

$25
Chase logo

Chase Total Checking® Account

$300Expires April 17, 2024 More Info

New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities

N/A

Chase Business Complete Checking®

$400Expires April 18, 2024 More Info

Earn $400 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.

N/A

U.S. Bank Smartly® Checking and Standard Savings Accounts: Up to $800 Bonus Offer

The current U.S. Bank offer requires customers to open both a Smartly® Checking account and Standard Savings account to earn $800.

Here’s how to earn $800:

Earn up to $800 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through March 12, 2024. Member FDIC.

Earn up to $500 with a new Bank Smartly® Checking account. Complete the following within 90 days of account opening:
•Enroll in online banking or the U.S. Bank Mobile App
•Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500

Earn up to $300 with a new Standard Savings account.

  • Make new money deposit(s) totaling $25,000 or more by March 31, 2024
  • Maintain that balance until June 30, 2024

Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

U.S. Bank Business Checking Accounts: Up to $800 Offer

If you're a small business owner, you may also be interested in U.S. Bank's current business checking offer. Here's how you can earn up to $800 with on of U.S. Bank's business accounts:

Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q1AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through April 23, 2024. Member FDIC. Complete these steps to earn the offer:

  • Earn your $350- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
  • Earn your $800 - Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.

BMO Checking Accounts: $250-$400 Bonus Offer

  • Offer expiration: May 3, 2024
  • How much you get: $250-$400
    • BMO Smart Advantage Checking: Earn $250 with qualifying direct deposits
    • BMO Smart Money Checking: Earn $250 with qualifying direct deposits
    • BMO Relationship Checking: Earn $400 with qualifying direct deposits
  • Qualifying transactions:
    • BMO Smart Advantage Checking: Make $4,000 in qualifying direct deposits within 90 days of account opening.
    • BMO Smart Money Checking: Make $4,000 in qualifying direct deposits within 90 days of account opening.
    • BMO Relationship Checking: Make $7,500 in qualifying direct deposits within 90 days of account opening.
  • How to get the offer: Open a new account through this link
  • When you get it: Once eligibility requirements have been met, you'll receive your  bonus approximately 100 days after account opening.

Verdict

BMO checking accounts offer useful perks like no monthly fee, fee-free ATM transactions and more, depending on the account you select. And with these three checking account options, you’re likely to find one that fits your needs. Plus, these new account offers can be easily met by many customers looking for a place to send their regular direct deposits. Offering many banking products and a large presence across the country, BMO Bank is worth a look.

TD Bank Beyond Checking: $300 Bonus Offer

With a TD Bank Beyond Checking account, you’ll pay a $25 monthly maintenance fee unless you set up $5,000 in monthly direct deposits, have a minimum $2,500 daily balance or have a combined $25,000 balance across eligible TD accounts.

You can earn interest at tiered interest rates, get overdraft protection, receive free checks and bank statements and be eligible for rate discounts on home equity or personal loans. TD fees are waived at any ATM and non-TD fees are reimbursed when you keep at least a $2,500 daily balance.

Read our full review of TD Bank.

  • Offer expiration: March 31, 2024
  • How much you get: $300
  • How to qualify: Open an eligible checking account and make a qualifying direct deposits totaling $2,500 during the first 60 days of account opening
  • Qualifying transactions: Make a total of $2,500 in qualifying direct deposits in the first 60 days
  • How to get the offer: Open an account online or in-branch at a brick-and-mortar location
  • When you get it: You're $300 bonus will be deposited into your account no later than 180 days after eligibility requirements are met

This offer is available to residents of the following states: CT, DE, DC, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT and VA.

Verdict

While this checking account won’t impress you with a competitive APY, it does offer a few rare features, including annual overdraft fee reimbursements and a free outgoing wire transfer per statement cycle. If you meet the criteria to waive the hefty monthly fee, its $300 bonus could be a good reason to bank with TD.


TD Bank Convenience Checking: $200 Bonus Offer

TD Bank Convenience Checking has a monthly maintenance fee of $15, unless you maintain a minimum daily balance of $100 or you’re 17 to 23 years old. This is not an interest-bearing account, but online statements are free. You’ll get discounts on your first order of select check styles, overdraft protection and rate discounts on home equity or personal loans.

  • Offer expiration: March 31, 2024
  • How much you get: $200
  • How to qualify: Open an account and receive direct deposits totaling $500 or more within the first 60 days of account opening
  • Qualifying transactions: Receive direct deposits totaling $500 or more in the first 60 days
  • How to get the offer: Open an account online or in-branch at a brick-and-mortar location
  • When you get it: You're $200 bonus will be deposited into your account no later than 180 days after eligibility requirements are met

This offer is available to residents of the following states: CT, DE, DC, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT and VA.

Verdict

In an era of fee-free banking, there’s nothing exciting about a standard checking account that charges a monthly maintenance fee, especially when you can get the same account online for free. But for those who need brick-and-mortar locations, in-person customer service and the ability to make cash deposits, TD Bank Convenience Checking could be what you’re looking for. And, with a $200 bonus, becoming a new customer is slightly more enticing.


PNC Bank Business Checking: $200 Bonus Offer

New PNC business customers can earn a $200 bonus after opening a Business Checking account and meet eligibility requirements.

The new account won’t be eligible for the offer if any signer has signing authority on an existing PNC Bank business checking account or has closed an account within the past 90 days. They also wouldn’t qualify if they had been paid a promotional premium in the past 12 months. There will be a soft pull of your credit to see if you can open an account. This offer is open to all U.S. residents.

  • Offer expiration: March 31, 2024
  • How much you get: $200
  • How to qualify: Open and fund an account with $100 or more and then maintain a minimum average ledger balance of $5,000 for each of the first three statement cycles. Plus, you'll need to make at least 20 total qualifying PNC Bank Visa Debit Card transactions within the first three statement cycles
  • Qualifying transactions: Maintain an average ledger balance of $5,000 for three statement cycles and use your debit card 20 times—also within the first three statement cycles
  • How to get the offer: Open an account online or in-branch (coupon automatically applied with online application)
  • When you get it: Once conditions have been met, your $200 bonus will be deposited into your account within in 90 days

Verdict

This is PNC Bank's basic business checking account, and it’s best for smaller businesses that don’t exceed 150 transactions per month and those who prefer in-person banking. Since the monthly fee is nominal and easily waived, opening the account for the bonus will be agreeable for many. 

Visit PNC Bank


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PNC Bank Treasury Enterprise Plan: Up to $1,000 Bonus Offer

New PNC business customers who open a Treasury Enterprise Plan and can earn a $500 promo. The Treasury Enterprise Plan has a $50 monthly account maintenance fee, unless you maintain $30,000 average combined monthly balance in the Master and all additional beneficiary business checking accounts.

  • Offer expiration: March 31, 2024
  • How much you get: $500
  • How to qualify: Open and fund an account with $100 or more and then maintain a minimum average ledger balance of $30,000 for each of the first three statement cycles
  • Qualifying transactions: Maintain an average ledger balance of $30,000 for three statement cycles
  • How to get the offer: Open an account online or in-branch (promo coupon automatically applied with online application)
  • When you get it: Once conditions have been met, your bonus will be deposited into your account within in 90 days

Verdict

Treasury Business Checking is a niche product for businesses that need to link multiple checking accounts and only pay for the services they use. For the right enterprise, this can mean big savings overall, especially with the ability to offset these various fees with earning credits. If this is the specialty solution you're looking for, then a new account bonus will probably be appealing.

Visit PNC Bank


Huntington Bank Business Checking Accounts: $100-$1,000 Bonus Offers

Whether you're a newly minted LLC or a well-established local business, Huntington Bank’s lineup of business checking accounts has you in mind. Plus, for a limited time, Huntington Bank is offering new customers a chance to earn a welcome bonus. Keep in mind that this promotion is only available to residents in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia or Wisconsin.

  • Offer expiration: April 30, 2024
  • How much you get: $100-$1,000
  • How to qualify:
  • Open an eligible business checking account and deposit new money consistent with the account’s bonus requirement and required time frames.
    • Business Checking 100: Deposit $2,000 within 60 days of account opening and keep your account open for a minimum of 90 days.
    • Unlimited Business Checking: Deposit $5,000 within 60 days of account opening and keep your account open for a minimum of 90 days.
    • Unlimited Plus Business Checking: Deposit $20,000 within 30 days of accounting opening and maintain that daily balance for 60 days after meeting the deposit requirement. The account also needs to stay open for at least 90 days.
  • Eligible Huntington business accounts:
    • Business Checking 100: Deposit $2,000 to earn a $100 bonus
    • Unlimited Business Checking: Deposit $5,000 to earn a $400 bonus 
    • Unlimited Plus Business Checking: Deposit $20,000 to earn a $1,000 bonus
  • How to get the offer: Open a new account online or in-branch
  • When you get it: Receive your bonus within 14 days of meeting requirements

Verdict

While each of these accounts offers a suite of features to help you grow your business, small business owners and freelancers have a lot to like about Huntington Bank. It offers both mobile and online banking, as well as in-person customer service at your local branch. Still, if you’re looking for an interest-bearing business checking account that pays a high-yield, you may be better off looking elsewhere.

Visit Huntington Bank


Huntington Bank Perks Checking: $400 Bonus Offer

You can earn a $400 cash bonus for opening a Huntington Perks Checking account and receiving a qualifying direct deposit within 90 days of account opening. The funds must be new money, so deposits cannot be made from a previous savings or checking account with Huntington Bank.

The bank requires that you provide your Social Security number and a government-issued ID when applying for a personal checking account.

The bank will also do a soft pull of your credit. You must be 18 years or older, a U.S. citizen, a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia or Wisconsin, and open an individual or joint account. Read our full review of Huntington Perks Checking.

  • Offer expiration: June 7, 2024
  • How much you get: $400
  • How to qualify: Open a new account and receive a qualifying direct deposit within 90 days of account opening and keep your account open for 90 days
  • How to get the offer: Either open an account online or in-branch (coupon automatically applied with online application)
  • When you get it: Your bonus will be deposited in your new account within 14 business days of meeting requirements

Verdict

The most intriguing aspect of this account is its ample bonus offer. Other than that, there’s little difference between this account and the fee-free Asterisk-Free Checking. Even so, it has a bonus and Asterisk-Free Checking doesn't, so you could consider starting with Huntington Perks for the promotional period and then downgrading to the bank’s free checking account.

Visit Huntington Bank

Huntington Bank Platinum Perks Checking: $600 Bonus Offer

Huntington Platinum Perks Checking is the bank's premier consumer checking account, and, for a limited time, new customers can earn a generous $600 bonus for opening a new account and meeting eligibility requirements.

The account is interest bearing and charges a $25 fee that can be waived when you maintain at least $25,000 in combined balances across any eligible deposit accounts with Huntington National Bank.

  • Offer expiration: June 7, 2024
  • How much you get: $600
  • How to qualify: Open a new account and make at least $25,000 in cumulative new money deposits within 90 days from account opening and keep your account open for 90 days
  • How to get the offer: Either open an account online or in-branch (coupon automatically applied with online application)
  • When you get it: Your bonus will be deposited into your new account within 14 business days of meeting requirements

Verdict

Similar to the Huntington Perks account, this account is nothing to get too excited about. It’s marketed as an interest-bearing account, but the APY is embarrassingly modest, and the monthly fee is more costly than it has reason to be. Opening the Huntington Platinum Perks for the promotional period and then downgrading to the bank’s free account is probably the prudent move.

Visit Huntington Bank


Best Savings Account Bonus Offers

While not quite as common as checking account bonus offers, you can usually find several savings accounts with bonus promotions for new accounts. Typically, a savings account with a bonus will not be a high-yield savings account, as these tend to draw in new customers with high interest rates. However, some accounts, such as SoFi Checking And Savings, manage to offer a high yield of return on deposits and a strong sign-up bonus.

The best savings account bonus offers typically require a minimum amount of qualifying deposits, and yield cash bonuses of $200 or more.

SoFi Checking and Savings

When you open this hybrid checking-savings account, you can get between $50 and $300, depending on how much you receive in direct deposits. The account also offers no account fees, an impressively high yield on your balance, no-fee overdraft coverage and up to 15% cash back when you use your debit card to shop at local businesses.

  • Offer expiration: June 30, 2024 
  • Bank sign-up bonus: $50 or $300
  • How to qualify: Open an account and receive at least $1,000 in direct deposits within 25 days of your first qualifying direct deposit. You'll receive $50 for $1,000 to $4,999 in direct deposits or $300 for $5,000 or more in deposits.
  • Qualifying transactions: Qualifying direct deposits include deposits from your employer, payroll or benefits provider in the form of ACH transfers
  • How to get the offer: Open a new account through this partner link
  • When you get it: Once the evaluation period has ended, SoFi will determine your eligibility and deposit the earned bonus into your account within seven business days

Verdict

SoFi's bonus is relatively easy to earn if you receive regular direct deposits, but you'll need to work with your payroll manager or benefits provider to switch bank accounts. If you end up moving all of your direct deposits over to the new account, though, you may need to be ready to switch bill payments and other recurring charges, which requires more legwork than most savings bonuses.

Visit SoFi

Recommended High-Yield Savings Accounts

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UFB Direct logo

UFB Direct Secure Savings Account

5.25% More Info

UFB Direct breaks balances into five tiers, but, currently, there is only one interest rate.

No minimum deposit
No monthly fee

SoFi Checking and Savings

0.50% - 4.60% More Info

Customers earn 4.60% APY on savings balances when they set up recurring monthly direct deposit of their paycheck or benefits provider via ACH deposit. Alternatively, deposit at least $5,000 each month to earn 4.60% APY on your savings balance. Checking balances earn 0.50% APY

No minimum deposit
No monthly fee

CIT Bank logo

CIT Bank Platinum Savings Account

5.05% More Info

Earn 5.05% APY on balances over $5,000. Balances of less than $5,000 earn 0.25% APY. Annual Percentage Yield is accurate as of July 27, 2023. Interest rates for the Platinum Savings account are variable and subject to change at any time without notice.

$100 minimum deposit
No monthly fee

CIT Bank logo

CIT Bank Savings Connect Account

4.65% More Info

Annual Percentage Yield is accurate as of July 27, 2023. Interest rates for the Savings Connect account are variable and subject to change at any time without notice.

$100 minimum deposit
No monthly fee

TD Bank Savings

Open a TD Simple Savings or Signature Savings account and meet the balance requirement, and you can earn a cool $200. Both accounts charge a monthly maintenance fee—$5 and $15, respectively—but you can get that fee waived if you meet certain requirements.

  • Offer expiration: March 31, 2024
  • Bank sign-up bonus: $200
  • How to qualify: Deposit $10,000 or more in new money within 20 days of account opening, then maintain that balance for 90 days from the date you met the deposit requirement
  • Qualifying transactions: Deposits must be money not already held in a personal TD checking or savings account
  • How to get the offer: Open a new account through this link
  • When you get it: Once you've completed the bonus requirements, you'll receive the cash on or before 180 days from account opening

Verdict

The bonus is easy to earn, but only if you have $10,000 or more in cash lying around that you don't need for a few months. Also, unless you can easily meet the requirements to avoid a monthly fee, this may not be a good account for long-term usage. Also, keep in mind that this bonus is only available in some states, so check the list before you apply.


FirstBank (Bloom) Checking & Savings

You can earn a solid $300 when you set up a Bloom Package with checking and savings—or even just a checking account—enroll in online banking and set up a modest direct deposit on your account. Online banking is free, but you will have to pay a $10 annual fee for the account's debit card unless you're 25 years old or younger.

  • Offer expiration: April 1, 2024
  • Bank sign-up bonus: $300
  • How to qualify: Open a Bloom Package or checking account, enroll in online banking and receive at least one qualifying direct deposit of $500 or more into your checking account for three consecutive months. The first deposit must be made within 60 days from account opening
  • Qualifying transactions: Qualifying direct deposits include payroll, pension, Social Security or other recurring government benefit deposits
  • How to get the offer: Open a new account through this link
  • When you get it: FirstBank will deposit the bonus within 30 days of the final qualifying deposit

Verdict 

The bonus is easier to get than the SoFi Checking & Savings bonus, but the account is only available to residents of Arizona, Colorado and Riverside County, California, making it unattainable for most U.S. consumers. 

Visit FirstBank (Bloom)


Alliant Credit Union Ultimate Opportunity Savings Account

It takes a year to earn this $100 bonus, but if you want to make the switch to Alliant Credit Union for the long haul, it won't take a lot to earn it. The account also has no monthly fee if you opt for e-statements and no overdraft fees.

  • Offer expiration: December 31, 2024
  • Bank sign-up bonus: $100
  • How to qualify: Open an account as a new Alliant Credit Union member, deposit at least $100 into the account each month for 12 consecutive months and have a balance of at least $1,200 at the end of the promotional period
  • Qualifying transactions: Qualifying deposits include total deposits of $100 or more each month
  • How to get the offer: Open an account through this link
  • When you get it: If you meet all the requirements, Alliant will deposit the bonus within four weeks

Verdict

You'll need to jump through some extra hoops to join the credit union, and the bonus isn't as sizable as the others on our list. But if you want to switch to Alliant anyway, this bonus can serve as icing on the cake. 

Visit Alliant Credit Union


How to Find Bank Bonuses

Finding bank bonuses is easier than ever these days as banks compete for your business. Here are some ways you can find high-quality bank bonuses:

  • Get a referral from friends and family: Ask your trusted friends and family if they’ve heard of a good deal at a bank they recommend. Additionally, some banks offer referral codes that reward you and your referring friend when you sign up for a new account and meet the requirements.
  • Check your mail: You might also get an offer the old-fashioned way—through the mail—for a bank account bonus, or you could receive a targeted email from a bank. 
  • Look to industry experts and forums: In addition to the bonuses covered in this article, Slickdeals provides information on other bank account bonuses. You can search for bonuses that are available nationally or in your area, and read details to help you decide if a bonus is a good fit for you.
  • Ask the banks: If there’s a particular bank or account you’re interested in, it never hurts to ask a customer service representative if they have any bonuses available. It might not always result in an offer, but it’s worth a try.
  • Make sure it's worth your while: Assess any offer you find before you sign up. Some accounts require you to spend or deposit a certain amount to earn the bonus, which can take a few months. On the flip side, some simply require you to set up direct deposit, which usually only takes a few minutes. Since you can often log in to your payroll account and do that on your own, the direct deposit bonuses can be one of the easiest to earn.

How to Qualify for a Bank Account Bonus

Many banks and credit unions offer introductory cash bonuses to incentivize people to sign up for a new personal checking account, money market, spending account or savings account. Depending on the financial institution, we've seen bank account bonuses ranging from $50 to $1,000.

These new customer bonuses are often offered through limited-time promotions—both for checking accounts and savings accounts—and the requirements to earn one can vary.

Here are some common eligibility actions banks require to earn a bank bonus money:

  • Make a certain amount of debit card purchases within a defined promotional period
  • Sign up for direct deposit and meet a minimum deposit requirement
  • Deposit a minimum amount of cash and hold it there for a set time frame
  • Make a minimum number of bill payments from your account within a set period
  • Initiate a set number of qualifying deposits or qualifying transfers, typically within a 3- to 12-month period
  • Haven't received a bonus from the bank in the last year or two
  • Don't already have the same type of account open with the bank
  • Have your account open and in good standing at the time of the bonus payment (and often for a period of time after)

Because there are so many ways to earn a bank account bonus, you can pick and choose the accounts that you can earn one with easily. Just pay attention to whether the bank is FDIC insured, as that is an indicator of how safe the bank is in the event of a bank failure.

How to Avoid Monthly Fees on a Bank Account

Although many bank accounts charge monthly fees, they often have options to waive them. Check the details of any account you’re considering, but here are some common ways you might be able to use to avoid a monthly fee on a bank account:

  • Maintain a required minimum balance: One of the most common ways to waive a fee is to keep your balance at the minimum required by the bank. Minimums can be relatively low, especially for checking accounts, but they can be high for some accounts, so it’s worth researching before you commit.
  • Set up direct deposit: A lot of checking accounts waive fees if you get a certain amount of money direct deposited each month. The amount can vary depending on the account, but if you have a regular paycheck from your employer or government benefits, this can often be an easy way to waive a fee.
  • Meet monthly transaction requirements: In some cases, monthly fees can be waived by using your debit card a certain amount each month. Check if your account has a requirement for monthly transactions—if you can meet it through your typical spending, you might be able to waive a fee.
  • Go paperless: Some banks waive fees if you sign up for paperless statements. Check the fees schedule with any potential account to see what fees you’re in for—and if they can be waived for these activities.
  • Open more than one account: Some banks waive fees if you meet an aggregate balance minimum across all your accounts with the bank. If you have a range of financial needs one bank can meet, consider opening multiple accounts (that meet waiver requirements) to save on fees.
  • See if you qualify another way: Certain demographics can qualify for a fee waiver. For example, some accounts waive fees for college kids or seniors.
  • Find an account with no monthly fee: Many online banks have no monthly fee to worry about in the first place. If you find one that fits your needs, this could be the best bet. Just be sure to check if the account has any other fees for things like overdrafts or wire transfers before you sign up.

Monthly fees aren’t common with credit unions, but they’re pretty standard with major banks. As you compare checking account bonuses and savings account offers, don't forget to look at the product’s fee structure and make an effort to avoid the fee if possible.

How to Organize Multiple Bank Bonuses

At one point, I was juggling six or seven bank accounts. That's not necessarily a bad thing, but it can make it challenging to keep track of where you are in the process of earning each bonus. Also, I ended up with a couple of overdraft charges because I wasn't paying enough attention and accidentally made transfers from the wrong accounts.

To fix this problem, I created a spreadsheet to keep track of each bonus, including:

  • The bank or credit union
  • Amount of the bonus
  • Account opening date
  • Terms of the bonus
  • Monthly fees and how to avoid them
  • Early termination charge, if applicable
  • Dates I earned and received the bonus
  • Account closing date

With this spreadsheet, I was able to safely track each account. I also used a budgeting software called You Need a Budget to make sure I always knew the balances of each account, along with deposits and withdrawals.

Bottom Line

Bank account bonuses can be a great way to earn a little extra cash on the side. Over the years, I've used mine mostly to supplement my travel rewards when I go on vacation—I can get award flights, hotel stays and car rentals with credit cards, but not groceries or other travel activities.

If you're thinking of trying to earn bank account bonuses, though, use these tips to help you pick the right ones and maximize how much you earn from them.

FAQs

  • Banks offer sign-up bonuses to motivate new customers to open a deposit account. Since many checking and savings accounts offer indistinguishable perks and similar fees, financial institutions use limited-time promotions to persuade people to become clients.

  • Yes, bank account bonuses are taxable as interest-bearing income. So remember to watch out for 1099-INT forms when you get ready to file your tax return.

  • A direct deposit is an automated electronic deposit of funds directly into a checking or savings account, rather than through a physical check, fund transfer or cash deposit. Direct deposits are the most secure way to deliver electronic funds.

  • No, a service fee is a fee charged to customers for something specific, such as a bank charging a service fee for using an ATM that's not part of its network or a vendor charging a maintenance fee for making a payment with a credit card. Monthly maintenance fees are recurring fees banks charge to hold a checking account or savings account.

  • Yes, new money market customers have been known to earn bonus money for opening new accounts. However, a bank must first offer a sign-up bonus to new money market customers in order to earn one.

  • Whether or not you need a promotional code to earn a bank bonus depends on an individual bank's bonus requirements. Some banks do not require a code, while others do. Sometimes these codes will be referred to as a coupon. As an example, M&T Bank may require a promotional code to be applied at the time of account opening to qualify for a bonus. On the other hand, Regions Bank requires a coupon code and SoFi Money requires no code at all.

  • No, banks will only award a bonus to the primary owner of an account, not one for each joint owner. A primary owner is the main user or record holder of an account. While both joint owners are responsible for account management, the primary owner is indicated on the signature block of the account terms and conditions.

  • No, opening a new bank account will not affect your credit in most cases. That's because there’s usually no hard inquiry on your credit report like you get when you apply for a credit card (a hard inquiry does ding your credit slightly). Instead, banks usually only require a soft pull on your credit report—which has no impact on your credit score.

    However, bank accounts do get reported to ChexSystems, and if your ChexSystems report shows too many recent accounts opened in a certain number of consecutive calendar months, you may get denied.

RT

Ryan Tronier

Ryan Tronier is a personal finance expert and writer. His work has been published on NBC, ABC, USATODAY, The Mortgage Reports, Yahoo Finance, MSN, and more. Ryan is the former managing editor of the finance website Sapling, as well as the former personal finance editor at Slickdeals. Find him online at ryantronier.com.