Best Bank Account Bonus Promotions in December 2024

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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.

Recommended Bank Bonuses

Bank Account	Intro Bonus	Minimum Deposit	Learn More
SoFi Checking and Savings Open Account Member FDIC Member FDIC	$50-$300Expires January 31, 2026 More Info New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.	N/A	Open Account
U.S. Bank Smartly® Checking Account (Member FDIC) Open Account	Up to $450Expires December 30, 2024 More Info Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 30, 2024. Member FDIC. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.	$25	Open Account
Chase Total Checking® Account Open Account	$300Expires January 22, 2025 More Info New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities	N/A	Open Account
Key Smart Checking® Open Account	$300Expires May 16, 2025 More Info Earn $300 after qualified activities until 05.16.25 with the no-monthly-maintenance-fee Key Smart Checking®. Geographic restrictions apply and account opening is subject to approval. Offer is available in these states: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA	$10	Open Account
Chase Business Complete Checking® Open Account	$300Expires January 16, 2025 More Info Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.	N/A	Open Account

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.

• Checking Bonuses
• Savings Bonuses
• Business Checking Bonuses

Bank Account	Bonus Details	Learn More
Chase Total Checking® Account Open Account	$300Expires January 22, 2025 More Info New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities	Open Account
SoFi Checking and Savings Open Account Member FDIC Member FDIC	$50-$300Expires January 31, 2026 More Info New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.	Open Account
U.S. Bank Smartly® Checking Account (Member FDIC) Open Account	Up to $450Expires December 30, 2024 More Info Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 30, 2024. Member FDIC. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.	Open Account
Key Smart Checking® Open Account	$300Expires May 16, 2025 More Info Earn $300 after qualified activities until 05.16.25 with the no-monthly-maintenance-fee Key Smart Checking®. Geographic restrictions apply and account opening is subject to approval. Offer is available in these states: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA	Open Account
Chase Secure Banking℠ Checking Account Open Account	$100Expires January 22, 2025 More Info New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure BankingSM account with qualifying transactions. Qualifying transactions include debit card purchases, Zelle®, ACH credits, Chase QuickDepositSM or online bill payments. Your bonus will appear in your account within 15 days after completing the qualifying transactions.	Open Account
Chase College Checking℠ Account Open Account	$100Expires January 22, 2025 More Info New Chase College Checking customers can earn a $100 bonus when they complete 10 or more qualifying transactions within 60 days of account opening.	Open Account
Chase Private Client Checking℠ Open Account	Up to $3,000Expires January 22, 2025 More Info Enjoy up to a $3,000 bonus when you open a new Chase Private Client CheckingSM account with qualifying activities. Within 45 days of coupon enrollment, transfer qualifying new money or securities to a combination of eligible checking, savings and/or J.P. Morgan Wealth Management non-retirement accounts (excludes Chase Personal and Business CDs, Chase business checking and savings accounts, J.P. Morgan Self-Directed Investing accounts, J.P. Morgan Personal Advisors accounts, and J.P. Morgan Wealth Management retirement accounts). Your bonus will be determined on day 45. Maintain your new money for 90 days from coupon enrollment and enjoy your bonus. We'll add it to your account within 40 days.	Open Account
Citizens Bank Checking Open Account	Up to $400Expires March 13, 2025 More Info Get $300 when you open your first new personal checking account and make a direct deposit of $500 or more in the first 60 days. Get up to $100 when you use your new debit card: Earn $2 for every debit card purchase you make, up to $100, within 60 days.	Open Account
HSBC Premier Checking Account Open Account	Up to $2,500Expires January 2, 2025 More Info We're here to help you navigate your financial commitments both in the U.S. and abroad. Plus, you could earn a cash bonus of up to $2,500 when you open a new Premier checking account and complete qualifying activities1.	Open Account
M&T Bank Checking Accounts Open Account	$200Expires December 31, 2024 More Info Open a qualifying account and make direct deposits of at least $500 within 90 days of account opening.	Open Account
Huntington Bank Perks Checking and Platinum Perks Checking Open Account	$400-$600Expires February 7, 2025 More Info Earn up to $600 when you open a qualifying account and meet deposit requirements, which vary depending on the account.	Open Account
First Bank (Bloom) Checking and Savings Open Account	$300Expires January 1, 2025 More Info Open a new qualifying account and enroll in online banking. Then, have at least one qualifying direct deposit of $500 or more for three consecutive months.	Open Account
Wells Fargo Everyday Checking Account Open Account	$300Expires January 8, 2025 More Info Open a new qualifying account and deposit at least $25. Then, receive $1,000 or more in qualifying deposits within 90 days of account opening to receive the bonus.	Open Account

Bank Account	Bonus Details	Learn More
SoFi Checking and Savings Open Account Member FDIC Member FDIC	$50-$300Expires January 31, 2026 More Info New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.	Open Account
First Bank (Bloom) Checking and Savings Open Account	$300Expires January 1, 2025 More Info Open a new qualifying account and enroll in online banking. Then, have at least one qualifying direct deposit of $500 or more for three consecutive months.	Open Account
Alliant Credit Union Ultimate Opportunity Savings Account Open Account	$100Expires December 31, 2024 More Info Deposits must total $100 or more for 12 consecutive months and mention “Suze Orman’s The Ultimate Opportunity Savings Account promotion." Once you’ve made your 12 consecutive monthly deposits—and have a balance of $1,200 or more—you will get a $100 bonus into your account.	Open Account
Live Oak Business Savings Account Open Account	$200Expires January 13, 2025 More Info To earn this bonus, maintain a minimum $20,000 deposit amount, held for 60 consecutive days. Offer valid until January 13, 2025.	Open Account

Bank Account	Bonus Details	Learn More
Chase Business Complete Checking® Open Account	$300Expires January 16, 2025 More Info Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.	Open Account
U.S. Bank Silver Business Checking Account Open Account	$400Expires January 15, 2025 More Info Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.	Open Account
Axos Basic Business Checking Account Open Account	Up to $400Expires January 31, 2025 More Info Open a business checking account by January 31 and get up to $400 when you use promo code NEW400 on your application.*	Open Account
Axos Business Interest Checking Open Account	Up to $400Expires January 31, 2025 More Info Start growing your business and get up to $400 when you open a Business Interest Checking account by January 31. Just use promo code NEW400 on your application.**	Open Account
Huntington Business Checking Accounts Open Account	$100-$1,000Expires January 7, 2025 More Info Earn up to $1,000 when you open a qualifying account and deposit the required amount ($2,000-$20,000). Maintain your deposit and account for the required time frames.	Open Account

These bank promotions are updated periodically and are accurate as of December 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

Chase Total Checking is a good starter account with no minimum balance requirements and access to the bank’s huge branch and ATM network. The account does have a monthly fee, but there are a few ways to waive it.

Bonus offer: $300 (Expires January 22, 2025)

Offer requirements: 

• Open a new account through this partner link.
• Set up a direct deposit of your paycheck, pension or government-issued benefits check.
• Receive $500+ in direct deposits in the first 90 days from coupon enrollment.

Payout timeline: Once eligibility requirements have been met, you'll receive your bonus within 15 days, provided your account is in good standing.

Verdict

Chase Total Checking is a pretty standard checking account that, for some reason, carries a monthly fee, but those who can easily waive that fee and are looking for a no-frills account should consider this option. Plus, 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.

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Chase Secure Banking℠: $100 Bonus Offer

Chase Secure Banking is designed for people who are totally new to banking or have had financial struggles in the past. While the $4.95 monthly service fee means that your account won’t be free, it does feature several valuable benefits, including no overdraft fees. Plus, customers get access to Chase’s wide footprint of branches and ATMs.

Bonus offer: $100 (Expires January 22, 2025)

Offer requirements:

• Open a new account through this partner link.
• 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.
• Direct deposit is not a qualifying transaction for this offer.

Payout timeline: Once eligibility requirements have been met, you'll receive your bonus within 15 days, provided your account is in good standing.

Verdict

If you’re in the process of rebuilding your personal finances and credit profile, this second-chance account could be a good fit. Chase Secure Banking doesn’t come with checks and the bank will decline transactions when you don’t have enough funds to cover them—both features are designed to help you manage your spending. It offers flexible qualifications for account opening, but be aware it does charge a monthly fee that can’t be waived.

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Chase Business Complete Checking®: $300 Bonus Offer

Chase Business Complete Checking offers a wide range of features to benefit business owners, including unlimited electronic deposits, check monitoring, same-day deposits with QuickAccept℠ and more. The account also offers a generous bonus opportunity and easy access to branches and ATMs for busy business owners.

Bonus offer: $300 (Expires January 16, 2025)

Offer requirements: 

• Open an account through the above partner link.
• Fund the 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.
• Complete at least five qualifying transactions within the first 90 days of opening your account.
• Qualifying activities include debit card purchases, Chase QuickDeposit, Chase QuickAccept Deposits, ACH credits, Chase Online Bill Pay and wire transfers.

Payout timeline: After you have completed all the above checking requirements, your bonus will be deposited into your new account within 15 days.

Verdict

Business owners who value a strong combination of in-person services and mobile banking tools should consider this account. Access to thousands of ATMs will sweeten the deal for business owners who need to make cash transactions. Keep in mind that this account does carry a sizable monthly fee, but it can be waived.

Related Article

Who Should (and Shouldn’t) Open a Chase Business Complete Checking Account?

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U.S. Bank Smartly® Checking Account

The current U.S. Bank offer requires customers to open a U.S. Bank Smartly® Checking account to earn $450.

Here’s how to earn $450:

Earn up to $450 when you open a new U.S. Bank Smartly^® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 30, 2024. Member FDIC.

• Earn up to $450 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 deposits(s) totaling $2,000 to $4,999.99 to earn $250, $5,000 to $7,999.99 to earn $350 or $8,000 or more to earn $450.

Fund your new acount within 30 days to start qualifying activities. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.

U.S. Bank Business Checking Accounts: Up to $900 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 $900 with one of U.S. Bank's business accounts:

Earn up to $900 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q4AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 15, 2025. Member FDIC. Complete these steps to earn the offer:

• Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.
• Earn your $900 Business Checking bonus by opening a new U.S. Bank Platinum Business Checking account between 10/01/2024 and 1/15/2025. You must make deposit(s) of at least $30,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $30,000 until the 60th day after account opening.

Qualifying U.S. Bank Business Checking Accounts

Account	Intro Bonus	Minimum Opening Deposit	Monthly Fee	Learn More
U.S. Bank Silver Business Checking Account Open Account	$400Expires January 15, 2025 More Info Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.	$100	$0	Open Account
U.S. Bank Platinum Business Checking Account Open Account	$900Expires January 15, 2025 More Info Earn your $900 Business Checking bonus by opening a new U.S. Bank Platinum Business Checking account between 10/01/2024 and 1/15/2025. You must make deposit(s) of at least $30,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $30,000 until the 60th day after account opening.	$100	$30 with option to waive More Info You can waive this account's monthly maintenance fee with one of the following: $25,000 average collected checking balance or $75,000 combined average collected business deposits and outstanding business credit balances.	Open Account

New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.

The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.

Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. This document can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.

Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.

TD Bank Beyond Checking: $300 Bonus Offer

With TD Bank Beyond Checking, you can earn interest at tiered interest rates, get overdraft protection, receive free checks 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. The account does come with a monthly fee, though it’s waivable, and the bank offers a range of other financial products for those looking to do their banking under one roof.

Bonus offer: $300 (Expires October 31, 2024)

Offer requirements:

• Open an eligible account online or in-branch at a brick-and-mortar location.
• Make qualifying direct deposits totaling $2,500 during the first 60 days of account opening.
• 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.

Payout timeline: Your bonus will be deposited into your account no later than 180 days after eligibility requirements are met.

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 bonus could be a good reason to bank with TD.

TD Bank Complete Checking: $200 Bonus Offer (Expired 8/31/24)

TD Bank Complete Checking is a no-frills account that could be good for those just starting out. This is not an interest-bearing account, but you’ll get discounts on your first order of select check styles, overdraft protection and an option for early direct deposit. The account does charge a monthly fee (with options to waive).

Bonus offer: $200 (Expires October 31, 2024)

Offer requirements:

• Open an account online or in-branch at a brick-and-mortar location.
• Receive direct deposits totaling $500 or more within the first 60 days of account opening.
• 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.

Payout timeline: Your bonus will be deposited into your account no later than 180 days after eligibility requirements are met.

Verdict

In an era of fee-free banking, there’s nothing exciting about a standard checking account that charges a monthly maintenance fee. But the requirements to waive the fee are relatively easy to meet, so many customers may find this account is perfect for their needs as they get started with banking and finance. Those who want in-person customer service and the ability to make cash deposits may also want to consider this account.

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5 Best Business Bank Account Bonuses and Promotions (2024)

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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. Its range of business accounts likely means there's a good fit for most business owners, big and small.

Bonus offer: $100-$1,000 (Expires January 7, 2025)

Offer requirements:

• Open an eligible new account online or in-branch.
• To earn $100: Open a Business Checking account, deposit $2,000 within 60 days of account opening and keep your account open for a minimum of 90 days.
• To earn $400: Open an Unlimited Business Checking account, deposit $5,000 within 60 days of account opening and keep your account open for a minimum of 90 days.
• To earn $1,000: Open an Unlimited Plus Business Checking account, 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.
• These offers are only available to residents in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia or Wisconsin.

Payout timeline: Receive your bonus within 14 days of meeting requirements.

Verdict

These accounts offer a range of features to help different types of business owners grow their enterprises. Small business owners and freelancers have a lot to like about Huntington Bank, with mobile banking, in-person service, plus tools and tracking features designed for businesses.  Still, if you’re looking for an interest-bearing business checking account that pays a high-yield, you may be better off looking elsewhere.

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Huntington Bank Perks Checking: $400 Bonus Offer

You can get five free ATM withdrawals per statement cycle with this account, and though it has a monthly maintenance fee, there are ways to waive it. You can earn a very small amount of interest and can use credit monitoring tools with this account, though it doesn’t offer much else in the way of account benefits.

Bonus offer: $400 (Expires February 7, 2025)

Offer requirements:

• Open an eligible account online or in-branch (coupon automatically applied with online application)
• Receive a qualifying direct deposit within 90 days of account opening and keep your account open for 90 days.
• You must be a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia or Wisconsin.

Payout timeline: Your bonus will be deposited in your new account within 14 business days of meeting requirements.

Verdict

Huntington Bank Perks Checking doesn’t offer a ton of features, but it does earn a little bit of interest. This account best suited for those looking to establish a checking account or banking relationship with Huntington anyway and would like to earn a bonus in the process.

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Huntington Bank Platinum Perks Checking: $600 Bonus Offer

Huntington Platinum Perks Checking is the bank's premier consumer checking account, offering the ability to earn interest as well as features like credit and identity theft monitoring. The account charges a $25 fee it can be waived.

Bonus offer: $600 (Expires February 7, 2025)

Offer requirements:

• Open an account online or in-branch (coupon automatically applied with online application).
• Make at least $25,000 in cumulative new money deposits within 90 days from account opening.
• Keep your account open for 90 days.

Payout timeline: Your bonus will be deposited into your new account within 14 business days of meeting requirements.

Verdict

This account has unlimited fee waivers for ATM withdrawals, which might be a draw for some customers, but this account is probably best for those who are in Huntington’s service area and are considering opening other accounts with the bank in the future.

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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: $50 or $300 Bonus Offer

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.

Bonus offer: $50 or $300 (Expires January 31, 2026)

Offer requirements:

• Open a new account through this partner link.
• 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 direct deposits include deposits from your employer, payroll or benefits provider in the form of ACH transfers.

Payout timeline: 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, and if you like the convenience of online banking, SoFi should be at the top of your list. While the bank doesn’t have in-person service, it’s well-liked for its mobile tools, referral program, loan options and other banking products.

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^{SoFi Up to $300 Bonus Tiered Disclosure:}

^{New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.}

^{SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.}

Recommended High-Yield Savings Accounts

Bank Account	APY	Features	Learn More
BrioDirect High-Yield Savings Account Open Account	4.85% More Info *Annual Percentage Yield (APY) is variable and is accurate as of 11/15/2024. Rate is subject to certain terms and conditions. You must deposit at least $5,000 to open your account and maintain $25 to earn the disclosed APY. Rate and APY may change at any time. Fees may reduce earnings.	$5,000 min. deposit No monthly fee	Open Account
Axos ONE® Savings and Checking Bundle Open Account	Up to 4.86% More Info Earn up to 4.86% APY on savings, and 0.51% APY on checking when you meet requirements.	No minimum deposit No monthly fee	Open Account
SoFi Checking and Savings Open Account Member FDIC Member FDIC	0.50% - 4.00% More Info SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.	No minimum deposit No monthly fee	Open Account
CIT Bank Platinum Savings Account Open Account	4.35% More Info Earn 4.35% APY on balances over $5,000. Balances of less than $5,000 earn 0.25% APY. Annual Percentage Yield is accurate as of December 20, 2024. Interest rates for the Platinum Savings account are variable and subject to change at any time without notice.	$100 minimum deposit No monthly fee	Open Account

TD Bank Savings: $200 Bonus Offer (Expired 8/31/24)

Both TD Simple Savings or Signature Savings accounts offer APYs lower than what you’d find with online banks, but you can use TD ATMs fee free with these accounts, which is rare to find with savings accounts. While both accounts have a monthly maintenance fee, there are options to waive them.

Bonus offer: $200 (Expires August 31, 2024)

Offer requirements:

• Open a new account through this link.
• Deposit $10,000 or more in new money within 20 days of account opening.
• Maintain that balance for 90 days from the date you met the deposit requirement.
• Deposits must be money not already held in a personal TD checking or savings account.
• These bonuses are only available in select states.

Payout timeline: Once you've completed the bonus requirements, you'll receive the cash on or before 180 days from account opening.

Verdict

These savings accounts are likely best for people who like TD Bank (and live in its service area) and want a traditional savings account to stash away some funds. But if you’re hoping for a more competitive APY, you’re probably better off with a high-yield savings account from an online bank.

FirstBank (Bloom) Checking & Savings: $300 Bonus Offer

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.

Bonus offer: $300 (Expires January 1, 2025)

Offer requirements:

• Open a Bloom Package or checking account through this link.
• Enroll in online banking.
• 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 direct deposits include payroll, pension, Social Security or other recurring government benefit deposits.

Payout timeline: FirstBank will deposit the bonus within 30 days of the final qualifying deposit.

Verdict 

This offer is only available to residents of Arizona, Colorado and Riverside County, California. But if you live in that area and are looking for a solid online banking experience, this is worth checking out, especially as the bonus is relatively easy to attain for many people who get direct deposit. 

Visit FirstBank (Bloom)

Alliant Credit Union Ultimate Opportunity Savings Account: $100 Bonus Offer

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.

Bonus offer: $100 (Expires December 31, 2024)

Offer requirements:

• Open an account as a new Alliant Credit Union member through this link.
• Deposit at least $100 into the account each month for 12 consecutive months.
• Have a balance of at least $1,200 at the end of the promotional period.
• Qualifying deposits include total deposits of $100 or more each month.

Payout timeline: If you meet all the requirements, Alliant will deposit the bonus within four weeks.

Verdict

If you prefer to manage your finances with a credit union and want to earn a bonus in the process, this account is worth a look. Alliant Credit Union also offers other banking products, like savings accounts and loans, making it a good fit for those who want to establish more services with a credit union. That said, if you’re looking for a higher bonus amount, you may want to consider other options.

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

• Why do banks offer bonuses for opening an account?

  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.

• Are bank bonuses taxable?

  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.

• What is considered a direct deposit?

  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.

• Is a service fee the same as a monthly maintenance fee?

  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.

• Can you earn a bonus for opening a money market 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.

• Do I need a promo code to get a bank bonus?

  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.

• Can you earn two bonuses if you open a joint bank account?

  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.

• Will opening a new bank account affect my credit score?

  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.