If you want a simple way to boost your savings, open new checking accounts and earn a $200 checking account bonus offer.
They are usually easy to obtain and a great way to earn a little extra money to open a new account.
We’ve rounded up the requirements and the features you’ll enjoy by taking advantage of these checking account bonuses.
Top Banks Offering $200 Checking Account Bonuses
Earning a $200 checking account bonus with any of the banks below is pretty easy:
1. TD Bank 
TD Bank is offering a $200 welcome bonus for opening a personal checking account and using direct deposit within the first 2 months.
On top of that, you can maximize this promo by also opening a new personal savings account — stacking an extra $200 on top of this offer for a total of $400.
This is the smaller of 2 personal checking welcome offers that TD is currently running, with the other requiring a $2,500 direct deposit for a $300 bonus.
While this isn’t available nationwide, it is available in these states: CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, VT
To Earn the $200 Checking Account Bonus:
- Open a TD Convenience Checking℠ account using the link below
- Within 60 days, have a total of $500 in direct deposits.
Bonus will be paid on or before 180 days after account opening.
Get Your $200 Bonus with TD Bank
2. PNC 
PNC offers a $200 checking account bonus with its Virtual Wallet with Performance Spend account. The account provides fee-free access to 60,000+ ATMs, two free non-PNC ATM fee reimbursements, digital budgeting and saving tools, and two layers of overdraft protection.
The Virtual Wallet combines a checking, savings, and what they call a ‘growth’ account. This high-level savings account offers a higher interest rate than the other accounts, with the hope that you’ll leave funds for long-term goals.
To Earn the $200 Checking Account Bonus:
- Open a new Virtual Wallet with a Performance Spend account online or in person (click Request a Coupon before doing it in person)
- Set up monthly direct deposits of at least $2,000 in your Spend account
PNC will deposit the $200 bonus within 60 to 90 days of satisfying the requirements.
3. Chase Total Checking® 
Chase Bank is one of the largest banks in the country, providing you with access to many benefits, not to mention a quick $200 $300 checking account bonus if you open a Chase Total Checking® account with qualifying activities.
Chase customers can access more than 4,700 branches, 15,000+ ATMs, and a robust Chase mobile app. Chase Total Checking® includes Overdraft Assist℠ , which doesn’t charge an overdraft fee if you overdraft for $50 or less, and zero liability protection to protect you from unauthorized debit card transactions.
To Earn the $200 $300 Checking Account Bonus:
- Open a new Chase Total Checking® account online or enter your email address to have the promo code emailed to you to open an account in a branch
- Set up direct deposit totaling $500 or more within 90 days of enrollment
Get Your $300 Bonus with Chase
4. Keybank 
Keybank pays a $200 checking account bonus on its most popular checking accounts, Key Smart® and Key Select.
Key Smart® checking account is simple, with no monthly maintenance fees. It also doesn’t have minimum balance requirements.
It’s not an interest-bearing account, but it includes all the top-notch digital features Keybank offers, such as no overdraft fees if you overdraft $20 or less, customized account alerts, and 40,000 fee-free ATMs.
Key Select pays interest and has a monthly maintenance fee that you can waive with direct deposits of at least $5,000 or a combined balance across all KeyBank accounts of $15,000.
Key Select includes all the same features as the above account, but you also earn a $100 annual bonus every year with qualifying direct deposits.
To Earn the $200 Checking Account Bonus:
- Open a Key Smart Checking® or Key Select Checking℠ account online with at least $10 for Key Smart Checking® or $50 for Key Select Checking℠ and using the promo code ONAF0923
- Within 60 days, make 1 direct deposit of at least $500.
You’ll receive your bonus within 90 days of meeting the qualifying requirements.
5. Bank of America 
If you get direct deposit from your employer, you can earn a $200 checking account bonus from Bank of America. You can open any of the three checking accounts offered, including SafeBalance®, Advantage Plus, and Advantage Relationship.
The accounts require a minimum opening balance of $25 to $100, and all offer ways to waive the monthly fees. You can set up overdraft protection on Advantage Plus and Advantage Relationship and take advantage of automatic transfers and Zelle.
To Earn the $200 Checking Account Bonus:
- Open a new checking account and meet the minimum opening deposit requirement
- Set up direct deposit for at least $2,000 within 90 days
You get the advantage of working with one of the country’s largest banks, with access to 3,900 branches and 15,000 ATMs.
Get Your $200 Bonus with Bank of America
Summary of Banks Offering $200 Bonuses
| Bank | Account | Bonus | Min. Opening Deposit | Monthly Fee | Fee Avoidable |
| TD | Priority | $200 | $0 | $15 | Yes |
| PNC | Virtual Wallet | $200 | $0 | $7 – $25 | Yes |
| Chase | Total Checking | $0 | $12 | Yes | |
| KeyBank | Key Smart or Select | $200 | $10 or $50 | $0 | – |
| Bank of America |
|
$200 | $25 – $100 | $4.95 – $25 | Yes |
How To Get More Than $200 From Banks
A $200 checking account bonus is small when talking bank account bonuses. You can get much more than $200 if you have a lot of money to deposit. Many banks offer $300 – $500 and sometimes more.
The key is to have a large amount to deposit and to be able to maintain the balance for at least 90 days, as that’s what many banks require to earn larger bonuses.
Here are a couple of options for earning more than $200 checking account bonuses, but still pretty easy qualifications:
| Bank | Bonus | Expires | Requirements | |
|---|---|---|---|---|
 PNC Virtual Wallet® |
up to $400 | July 1, 2024 |
|
Learn More |
 TD Bank Beyond Checking |
$300 | January 1, 2025 |
|
Learn More |
 U.S. Bank U.S. Bank Smartly® Checking |
up to $700 | June 27, 2024 |
|
Learn More |
 SoFi SoFi Checking and Savings |
up to $300 | June 30, 2024 |
|
Learn More |
 Discover Discover® Cashback Checking |
up to $360 | Limited Time |
|
Learn More |
About $200 Checking Account Bonuses
You might wonder, what is a $200 checking account bonus? It’s simple. It’s free money banks pay new account holders. All you have to do is follow the instructions, and you’ll earn the bonus.
Most banks have requirements like receiving a certain amount of direct deposits or carrying a specific balance for a certain time. Their goal is to get you to like their bank account and keep it long-term.
Why Do Banks Offer Incentives for Opening Checking Accounts?
Banks want more business like any other company. A bank bonus is the equivalent of a promo code at a retailer.
You get free money for opening an account and meeting their requirements. Banks can try to upsell customers on other products once they become customers, so the free money they offer helps them build a bigger business.
How Are Checking Account Bonuses Paid Out?
Most banks pay checking account bonuses via direct deposit. After you meet the requirements, you’ll see the deposit in your bank account. Most banks have a 30 to 60-day window to pay you the bonus. If you don’t see your bonus within the promised time, contact the bank to find out why.
How To Qualify for a $200 Checking Account Bonus
Qualifying for a $200 checking account bonus is simple. Here’s how:
- Determine the requirements: Find out what you must do to get the bonus and ensure you can do it. For example, if you must set up direct deposit, get with your employer to change your direct deposit information quickly
- Open the account: Open the account online or in person, and be sure to mention the bank bonus promo. If there is a promo code, ensure you get it online before going to the bank to earn the bonus
- Fund your account: Deposit the funds into your account to meet the opening balance requirements and any other requirements, such as an average daily balance or a certain amount of direct deposits
- Take care of any other requirements: Read the fine print to ensure you don’t need to handle any other details, such as linking a savings account
- Earn your bonus: After meeting the requirements, you’ll receive your bonus in your account via direct deposit
How To Compare Offers
It’s a good idea to see what a few banks offer before accepting a $200 checking account bonus. Look beyond the bonus and see what the bank offers and what’s required to waive the monthly maintenance fee.
For example, if you earn a $200 bonus, but the bank account costs $25 a month, you don’t come out ahead if you keep the bank account for a long time.
Look for the most affordable bank account with the highest interest rates and, of course, a bonus.
Tips When Signing Up for New Accounts
Before signing up for new bank accounts, ensure you know the following:
- How to waive the monthly maintenance fee
- The minimum daily balance requirement
- Other fees the bank charges
- Interest rates paid
- How to access your funds
Don’t open a bank account just to get the bonus if you can’t easily access your funds or if it will cost you money every time you do because there isn’t a fee-free ATM in your area.
Also, don’t open a new account that will cost too much in fees, depleting the $200 bonus.
The first bank bonus I received was a $200 offer through Chase Bank that made sense for my family. Instead of spending it, I opened up a Chase First Banking account for my daughter and used the bonus cash for chores so we could teach her about managing money.Matt Bundrick Bank Bonus Expert
Frequently Asked Questions
A $200 checking account bonus is a nice way to bump up your savings a little. Here are some common questions about these bonuses.
How Long Do I Need To Keep the Account Open To Receive the Bonus?
Every bank differs, but expect to leave the funds in the account for 30 to 90 days. If the account earns interest, it’s not a big deal to leave it. If you open a basic checking account, you may want to move it to another account that earns interest after earning your bonus.
Can I Open Multiple Accounts To Earn Multiple Bonuses?
You probably can’t open multiple accounts at the same bank to earn bonuses. Still, there’s no rule stating you can’t get bonuses from different banks if you have the money to spread around to get access to as many bonuses as possible!
Do I Need To Maintain a Minimum Balance in the Checking Account To Be Eligible for the $200 Bonus?
Every bank has different rules, so read the fine print to see how long you must maintain the balance to earn the bonus. Usually, after earning the bonus, you don’t need to maintain the balance; however, if the bank charges a monthly maintenance fee, you may need to keep a balance.
Are These $200 Checking Account Bonus Offers Available Nationwide, or Are They Limited To Specific Regions or States?
Many of the $200 checking account bonus offers we listed are nationwide, but some are region-specific. Always read the fine print to ensure you qualify for the bonus.
Is There a Deadline To Open an Account and Qualify for the Bonus?
Every bank offer has an expiration date. Be sure to read the dates, know how long you have to fund an account and meet the requirements to earn the bonus.
How Soon Will I Receive the $200 Bonus After Meeting the Requirements?
Banks usually pay the bonus within 30 to 60 days of meeting the requirements. But that’s not set in stone; each bank sets its own requirements, so read the fine print to find out for sure.
Does Opening a Checking Account Affect My Credit Score?
Opening a checking account doesn’t affect your credit score. Your credit score would be affected only if you don’t pay your bank fees and they go to collections. Most collection agencies report accounts to the credit bureaus, which could hurt your credit score.
Should I Open a Bank Account Just for the Bonus?
It’s perfectly fine to open a bank account just for the bonus! Just make sure you don’t need the funds immediately so you can meet the requirements to earn the bonus.
How Are Bank Account Bonuses Taxed?
$200 in earnings doesn’t sound like a lot, but it’s income, and you must pay taxes on it. Banks will likely issue a 1099-INT that states how much you earned. You must report it in your taxable income and pay the applicable taxes.
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