You’re probably familiar with the usual ways to earn money from your bank accounts, such as interest on your deposits, referral bonuses, and cashback rewards for spending.
These are all things you should be taking advantage of. But there’s also free money waiting for you in the form of bank bonuses, and all you have to do is open a new checking or savings bank account.
Best Bank Offers and Promotions
Looking for a new bank account? These great accounts will sweeten the deal by giving you cash:
- J.P. Morgan: up to $700 bonus
- Chase: $300 bonus
- BMO: $300 bonus
- TD Bank: $200 bonus
- Axos: up to $375 bonus
- SoFi: up to $300 bonus
- Barclays: $200 bonus
- Live Oak: $200 bonus
- E*TRADE Bank: up to $6000 bonus
- KeyBank: $300 bonus
1. J.P. Morgan Wealth Management
Available nationwide with the ability to open online, J.P. Morgan Wealth Management is offering up to a $700 welcome bonus when you open a new Self-Directed Investing account with qualifying minimum funding.
This is tiered bonus, meaning that the more you deposit, the more you may be eligible to earn. New for this iteration, J.P. Morgan has introduced a lower tier at $5,000, down from the previous $25,000 entry point and raised the max bonus amount!
Here are all 4 tiers of this investing bonus:
| New Money Added | Bonus Amount |
|---|---|
| $5,000-$24,999 | $50 |
| $25,000-$99,999 | $150 |
| $100,000-$249,999 | $325 |
| $250,000+ | $700 |
This is the highest offer that we've seen to-date from J.P. Morgan.
Self-Directed Investing - up to $700 bonus
Expires: January 23, 2025
The Self-Directed Investing signup offer requires you to deposit and maintain a minimum balance in order to earn the $700 bonus. Full requirements to receive this bonus are:
- Open a J.P. Morgan Self-Directed Investing account using the link below.
- Within 45 days, fund your account with qualifying new money; $5,000 - $24,999 = $50 bonus; $25,000 - $99,999 = $150 bonus; $100,000 - $249,999 = $325 bonus, $250,000 = $700 bonus.
- Your bonus amount will be determined on day 45.
- Maintain your new funds for 90 days (losses due to trading or market fluctuation will not be taken into account).
- Bonus will be received within 15 days.
- INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Apply now to earn the $700 bonus from J.P. Morgan
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2. Chase Bank
Chase Bank is offering business owners a $300 bonus to open a new Chase Business Complete Checking® account.
The requirements are pretty easy to meet: deposit new money at least $2,000 and maintain it for 2 months, and complete just 5 qualifying transactions in the next 3 months. Several activities count as "qualifying transactions", including purchases on your debit card, deposits into the account, setting up a bill payment, and more. See the fine print for the full list, but needless to say, meeting that requirement should be painless.
What's especially awesome about this bonus compared to other business checking account offers is that Chase recently launched the ability for customers to open an account online. Compared to the vast majority of business checking accounts which require you to visit your local branch, opening an account at Chase is significantly more convenient.
If you prefer live help, however, you can still enroll in this offer by entering your email address on the bonus landing page to have an offer code sent to you. Just be sure to take that code with you when you visit a branch.
Chase Business Complete Checking® - $300 bonus
Expires: January 16, 2025
The Chase Business Complete Checking® signup offer requires you to deposit and maintain a minimum balance, and optionally, make purchases using the account's card in order to earn the $300 bonus. Full requirements to receive this bonus are:
- Obtain a Chase business coupon using the link below and open a new Chase Business Complete Checking® account.
- Within 30 days, deposit at least $2,000 in new money into the account.
- Maintain that balance for at least 60 days from offer enrollment.
- Within 90 days of account opening, complete 5 qualifying transactions: debit card purchases, Chase QuickAccept℠ deposits, Chase QuickDeposit℠, ACH credits, wires (credits and debits), and/or bill pay.
- Bonus will be credited to your account within 15 days of meeting the requirements.
Apply now to earn the $300 bonus from Chase
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3. BMO
BMO is giving you 3 months to accumulate $4,000 in direct deposits to earn a $300 cash bonus for opening a new BMO Smart Advantage Checking Account or BMO Smart Money Checking Account.
This offer is available nationally if you open online, or in-branch if you live in a state within their brick-and-mortar footprint. What's even better? They're also offering a $5/month kicker on their Savings Builder account every month you save $200 or more, for the first year..
This reward has increased compared to the bonus they offered earlier this year, with the same requirements.
Smart Advantage Checking Account - $300 bonus
Expires: February 3, 2025
The Smart Advantage Checking Account signup offer requires you to set up eligible direct deposits in order to earn the $300 bonus. Full requirements to receive this bonus are:
- Open a new BMO Smart Advantage Checking Account or BMO Smart Money Checking Account using the link below.
- Within 90 days, have a total of $4,000 in direct deposits.
- If qualifications are met, bonus is paid approximately 100 days after account opening.
- *Conditions apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC
Learn more about the $300 bonus from BMO
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4. 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. What's more, 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 highest we've seen this offer so now might be a great time to jump on it if you've been on the fence.
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 open to a healthy list of states, and is no longer targeted to select customers.
If you're eligible, we definitely recommend claiming this easy bonus. Offer is available in these states: CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, VT
Complete Checking - $200 bonus
Expires: April 30, 2025
The Complete Checking signup offer requires you to set up eligible direct deposits in order to earn the $200 bonus. Full requirements to receive this bonus are:
- Open a TD Complete 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.
Apply now to earn the $200 bonus from TD Bank
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5. Axos Bank
Available nationwide with the ability to open online, Axos is offering a $375 welcome bonus when you open a new Business Premium Savings account and maintain a minimum balance. This is the highest offer we've seen yet so now might be a good time to jump on it!
What's more? This is ON TOP of the 4.01% APY! We challenge you to find any other business savings account offering that kind of APY.
Wanna get a checking account instead? They're also running this up to $400 promotion on their Business Interest Checking account.
Business Premium Savings - up to $375 bonus
Expires: December 31, 2024
The Business Premium Savings signup offer requires you to deposit and maintain a minimum balance in order to earn the $375 bonus. Full requirements to receive this bonus are:
- Open a new Business Premium Savings account with promo code BPS375.
- Within 30 days, fund the account.
- During the first 4 statement cycles maintain a minimum balance as follows: $75 will be earned for each statement cycle during which the average daily balance in your Business Premium Savings account is between $30,000 and 74,999.99. $125 will be earned for each statement cycle during which the average daily balance in your Business Premium Savings account is a minimum of $75,000 or greater.
- You can earn a maximum of 3 payouts during the 4 statement cycles.
- Bonus(es) will be deposited into your new account within 10 business days following the end of the statement cycle in which the balance requirement was met.
Apply now to earn the $375 bonus from Axos
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6. SoFi
SoFi is offering new and existing SoFi Checking & Savings customers up to a $300 bonus. You'll need to set up direct deposit, but you'll have until the promo ends to complete one.
From there, you'll have 25 calendar days (or until the end of the promotion, whichever happens first) to accumulate direct deposits towards the total that will be used to determine your bonus. This is still setup as a tiered bonus, the more you direct deposit, the more you'll earn.
SoFi Checking and Savings - up to $300 bonus
Expires: December 31, 2024
The SoFi Checking and Savings signup offer requires you to set up eligible direct deposits in order to earn the $300 bonus. Full requirements to receive this bonus are:
- Open a new SoFi Checking and Savings account using the link below.
- Before the promotion ends, and within 25 calendar days of your first direct deposit, complete direct deposits to determine your bonus as follows: $1,000 - $4,999 in total direct deposits, earn $50; $5,000+ in total direct deposits, earn $300.
- Bonus will be credited within 7 business days of the end of the Direct Deposit Bonus Period.
Apply now to earn the $300 bonus from SoFi
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7. Barclays Bank
Available nationwide, Barclays is offering a $200 bonus to new customers when you open a new Tiered Saving account and deposit $25,000. To qualify for this offer, you must be a new Barclays Savings customer (current and previous Barclays customers with a Savings account or CD are not eligible). Terms Apply.
Barclays Tiered Savings - $200 bonus
Expires: January 6, 2025
The Barclays Tiered Savings signup offer requires you to deposit and maintain a minimum balance in order to earn the $200 bonus. Full requirements to receive this bonus are:
- Must be a new Barclays banking customer and open a Tiered Savings account.
- Within 30 days, deposit at least $25,000 in new funds.
- For 120 consecutive days maintain at least a $25,000 balance.
- After the $25,000 balance is maintained for 120 consecutive days, the $200 bonus will be added directly to the account within 60 days.
Apply now to earn the $200 bonus from Barclays
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8. Live Oak Bank
Available nationwide, Live Oak is offering a $200 welcome bonus when you open a new business savings account and maintain a minimum deposit. The bonus amount is lower than when it was previously offered, but the deposit requirements are lower as well. With that said, it's still a solid offer and easy to earn if you have the available cash. Keep in mind this bonus is in addition to their ultra-competitive high interest rates.
What's more? This bonus is also available to existing customers and you'll need to meet certain conditions which can be found on the Live Oak Website.
Editor's Note: I am an actual customer of Live Oak and have an active Live Oak small business savings account
Live Oak business savings - $200 bonus
Expires: January 13, 2025
The Live Oak business savings signup offer requires you to deposit and maintain a minimum balance in order to earn the $200 bonus. Full requirements to receive this bonus are:
- Open a new Live Oak Bank business savings account.
- By 01/13/2025, deposit at least $20,000 into your new business savings account.
- For the next 60 days, maintain a balance $20,000 or more and watch your business savings grow with 3.80% APY
- Bonus will be deposited to your open, eligible account within 45 days of the 60-day activity period ending.
Apply now to earn the $200 bonus from Live Oak
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9. E*TRADE Bank
Payouts have increased again! E*Trade is now offering new investors up to $6,000 in bonus cash when you open and fund a new investing account. You'll only need $1,000 to earn the first tier bonus ($100)!
They've shuffled all the previous tiers and reinstated the tiers for those with 7+ figures to invest. If you're wanting to earn the full $6,000, you need at least $2M in investable assets.
This offer is available to both new and existing customers; however, different rules may apply, so be sure to check the disclosures at the link below.
Brokerage Account - up to $6000 bonus
Expires: January 31, 2025
The Brokerage Account signup offer requires you to deposit and maintain a minimum balance in order to earn the $6000 bonus. Full requirements to receive this bonus are:
- Open a new eligible E*TRADE brokerage or retirement account using the link below with promocode REWARD24.
- During the first 60 days, fund your new account with new money as follows: $1,000 - $4,999, earn $100; $5,000 - $19,999, earn $150; $20,000-$99,999 earn $300; $100,000-$199,999 earn $600; $200,000-$499,999 earn $800; $500,000 - $999,999, earn $1,000; $1,000,000 - $1,499,999, earn $3,000; $1,500,000 - $1,999,999 earn $5,000; $2M+, earn $6,000.
- If you deposit $200,000 or more, you will receive a cash credit within seven business days.
- If you have deposited at least $200,000 in your account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60-day window.
Apply now to earn the $6000 bonus from E*TRADE Bank
Learn More:
10. KeyBank
KeyBank is back with their personal checking bonus and is offering $300 to new Key Smart Checking® account customers after qualifying activities.
You'll need to make the minimum opening deposit of $10, plus one eligible direct deposit of at least $1,000 within the first 60 days of account opening.
While this isn't quite nationwide, the bonus has a wide footprint and is redeemable online. Check it out!
Key Smart Checking® - $300 bonus
Expires: May 16, 2025
The Key Smart Checking® signup offer requires you to set up eligible direct deposits in order to earn the $300 bonus. Full requirements to receive this bonus are:
- Open a no-monthly-maintenance-fee Key Smart Checking® account online with at least $10 by May 16, 2025.
- Within 60 days, make 1 single eligible direct deposit of at least $1,000.
- Bonus will be credited to your account within 60 days of meeting requirements.
- Account must not be closed at the time of gift payment.
Apply now to earn the $300 bonus from KeyBank
Learn More:
What Are Bank Bonuses and Promotions?
Banks and credit unions are always looking to attract as many new customers as possible.
The more new money that these financial institutions can bring in, the more overall profit they make.
One of the most popular ways that banks lure in new customers is by offering new account bonuses, which are financial incentives you can get for opening a new account and meeting certain terms and conditions.
These new account offers are a win-win for the bank and customer.
They’re attractive to customers because it’s free money. And for banks, it’s a prime opportunity to bring in new customers, who are likely to stay on board for many years down the road.
How can I qualify for a bank account bonus?
Typically, you’ll have to meet a minimum balance requirement for a period of consecutive months to qualify for the bonus.
This is required so that new customers don’t get the bonus and quickly close the account, which would result in a financial loss for the bank.
How are bonuses paid out?
Most of the time, it’s in the form of a cash bonus that the bank puts directly into your new account.
The bonus might also be handed out in other forms, such as a Visa Gift Card or rewards points that you can use to make online purchases.
How much money can you get?
Sign-up bonuses typically range from a couple hundred to a thousand or more dollars, depending on the bank, how much money you deposit, or how “tough” the requirements are.
New account bonuses are typically seen in traditional checking accounts, but you can also find them with business checking accounts, money market accounts, savings accounts, credit cards, and investment accounts.
Banks really will give you free money just for opening an account. You don't need a ton of money, there aren't "gotcha" fees buried in the fine print, and you're not doing anything unethical by signing up just to get the promotion. Doubtful? Overwhelmed? We can help. And we'll deliver it free, straight to your inbox. In this free 3-day course, we'll cover: ...basically everything you need to go from "I'm so confused!" to earning some of the easiest money you've ever made.Bank Bonus Email Course
How to Find & Maximize Your Bonuses!
How To Get Bank Bonuses
Keep an eye out for promotional materials for new bonus offers.
Banks are frequently sending these out over email, snail-mail, and through online and mobile app ads.
Chances are, you’ve come across more bank bonuses than you even realize.
And, just from having searched and found this article, there’s a strong chance that you’ll be retargeted for new account bonuses as you browse the internet.
What are the requirements?
Once you find a bank bonus that strikes your interest, the next step is reading the fine print.
It is very important to understand what’s going to be expected of you, because If you can’t meet those requirements, then what’s the point?
But, before you get your hands on any bonus money, you’ll probably have to fulfill some qualifying activities.
The specific requirements vary from bank to bank, but some of the most common include:
- Meeting minimum deposit amounts (e.g., $500 to open the account)
- Monthly direct deposit requirements (e.g., having your employer make one or two direct deposits to the account each month, for a period of three months)
- Making a minimum amount of debit card purchases in your first statement cycle (e.g., six debit card purchases)
In addition to meeting the initial requirements, you also usually have to stay in good standing with the bank for a certain number of days of account opening (the first three months is pretty typical).
This means that you either have to maintain an average daily balance, an average monthly balance, a specified combined balance, or a minimum daily balance as required by the bank. Avoiding a negative balance is also key, so don’t overdraft your account!
The reason banks require your account to be in good standing is that when accounts are not in good standing, banks risk losing money.
With that in mind, a good rule of thumb is to avoid a negative balance and overdraft fees, especially during the bonus qualification period.
Once you’ve met all the requirements, it’ll usually take a few business days for your checking offer bonus to show up in your account.
Keep in mind that bonuses are usually reserved for new customers, so opening a new checking account with your current bank probably won’t get you one.
What Do The Best Bonuses Look Like?
The bigger, the better, right?
Yes, and no. Bonus offers vary quite a bit, and it isn’t necessarily as simple as finding the biggest number and going after it.
New account bonuses are everywhere, but customers can most often expect to see them popping up at the bigger national banks, with Chase Bank promotions, Citibank promotions, and U.S. Bank promotions, being some of the most popular.
The best bonuses also have easy-to-reach requirements. For example, if the bank requires a $100,000 minimum opening deposit, most people wouldn’t qualify for that.
Another thing to watch out for is that if the bank charges monthly service fees, this could eventually wash out any bonus that you might get.
So, if you’re eyeing a $200 sign-up bonus, but then the bank plans to charge a $15 monthly maintenance fee, then your bonus gets washed out in about 13 months.
Ideally, the bank you decide to go with won’t charge you any fees, or there will be a way to get around them (such as linking direct deposits).
It’s also good to have overdraft protection, so you don’t get hit with any hefty overdraft fees.
That way, you’ll be able to enjoy your bonus without giving it right back.
The Fine Print
It’d be nice if it was as simple as signing up and cashing in, but there are few more things to consider.
Banks may require that account holders make their initial deposit via direct deposit, rather than transferring money from another account. Banks like direct deposits because they provide steady, guaranteed revenue coming into the bank.
When it’s tax time, don’t forget to claim your checking account bonuses. Unlike credit card reward points, which are viewed by the IRS as purchase rebates, checking account bonuses are considered taxable income.
The good news is that, unlike applying for a new credit card, when you open a new bank account, there’s no impact on your credit score.
Finally, bank offers are often regional, so your friend in Michigan might see different ones than you’re getting in Kentucky — even if it’s with the same bank.
What’s more, sometimes you need a promo code, or you need to be targeted with a specific offer page to get in the door.
Frequently Asked Questions
What banks give you a bonus for opening an account?
The best offers are constantly changing. At BankBonus.com, we’re constantly updating and refining the best bank bonuses available, so be sure to check back often.
With that said, even though bonuses tend to change over time, almost all banks offer some perks for opening a new bank account.
Larger, national banks typically have the resources to pay out the best bank account bonuses. But you can also find sign-up rewards at your local community bank or credit union.
Whichever bank you decide to go with, make sure that it’s a member FDIC, which means that your deposits will be protected up to $250,000.
Are bank bonuses worth it?
Some bonus offers are worth it, and some aren’t.
A $400 bonus might seem like an amazing deal, but if you’re moving funds over from your high-yield savings account, which offers a significantly higher Annual Percentage Yield (APY), you might be losing money in the long run.
Generally speaking, big national banks don’t offer the best interest rates on checking account deposits, so take that into account as well.
You also have to pay attention to any fees that might come with your new account.
Even if you’re opening a free checking account, there might be monthly maintenance fees or ATM fees that exceed the value of the bonus you’re trying to get.
The Best Bank Bonus For You
The key is to think of a personal checking account bonus as, well, a bonus. It’s a nice-to-have.
What you shouldn’t do is open an account that’s a poor fit for your financial position just to chase some extra cash.
Instead, find exactly what it is that you’re looking for in a bank account. Then, narrow it down based on the offers of those that meet your needs.
The best bank account bonus for you is the one that makes the most sense for your financial situation and that doesn’t hit you with a ton of fees down the road.
