Best Bank Bonuses and Promotions of August 2022

You’re probably familiar with the usual ways to earn money from your bank accounts, such as interest on your deposits 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 new account bonuses, and all you have to do is open a new checking or savings account.

It's true! Many banks, credit unions, and brokerages offer a financial incentive to attract new customers (and their deposits!).

Keep reading to learn more about these new account offers or to compare the best bank bonuses available today.

Best Bank Bonuses in August 2022

These are our absolute favorite promotions right now.

Why?

Because the requirements necessary to earn each bonus are in line with the reward (please don't require us to deposit $500k to earn $150 🙄) and they're from reputable banks and institutions that are available nationwide.

Note: If you're hungry for more offers, you can keep scrolling for our full list of all 433 current offers.

Best checking account bonus offers

Bank Bonus Details Learn More

Citi

Citi Priority Account

Citi Priority Account: up to $2000 bonus offer

Citi® is offering up to a $2,000 cash bonus when you open a new Citi Priority Account. This time around they've added a lower tier to make it easier to participate, but have raised some of the middle tiers which could make higher bonus levels slightly harder to achieve. It's important to note that this offer is available in most, but not all states.

This is a tiered bonus based on the amount you're able to deposit and maintain in your new account. $10,000 in new funds will earn you $200; $30,000 in new funds will earn you $500; $75,000 will earn you $1,000; $200,000 will earn you $1,500; or $300,000+ will earn you the full $2,000.

Depending on when you deposit the cash (it needs to be there by the 20th day), the bonus represents an effective rate of roughly 5-11% on your savings. The $200 offer nets you the best effective rate, but every offer is significantly more than what you can find on most savings accounts. So if you have the cash, this is a great way to put it to work, risk-free.

Bonus
up to $2000
Account Type
Personal Checking
Expires In
152 days
Requires
  • Min Balance
How To Earn

or, read the full requirements

Fifth Third Bank

Personal Checking

Personal Checking: $375 bonus offer

Fifth Third Bank has revived their personal checking account bonus, and made it sweeter this time around. They've increased the offer amount from $350 to $375.

You can open the account online through the promotion's landing page, or choose instead to enter your email address to receive a unique code that you can take into your local branch.

Another perk? Users report receiving their bonus just days after the qualifying deposit is posted.

Bonus
$375
Account Type
Personal Checking
Expires In
51 days
Requires
  • Direct Deposit
Apply Now

at Fifth Third Bank

or, read the full requirements

Chase

Chase Total Checking®

Chase Total Checking®: $200 bonus offer

Chase has recently decreased this welcome offer from $225 down to $200. While $200 is what Chase has historically offered as a new checking account bonus, it's still a bummer to see the amount go down.

That said, Chase Total Checking® is the most popular account from one of the top national banks. You'll have access to more than 4,700 branch locations and 16,000 ATMs, along with a top-rated mobile app.

Your new account can be opened easily online, and earning the bonus is super straightforward: receive a qualifying direct deposit into your new account within 90 days, and Chase will reward you within 15 days. Definitely check it out!

Bonus
$200
Account Type
Personal Checking
Expires In
70 days
Requires
  • Direct Deposit
Apply Now

at Chase

or, read the full requirements

Albert

Albert Cash Account

Albert Cash Account: $150 bonus offer

Albert, an online fintech banking platform, is offering a $150 welcome bonus when you open a new cash account and set up direct deposit. What's even more? Once you become a user, you can refer your friends and earn up to $1,500!

Bonus
$150
Account Type
Personal Checking
Expires In
Limited Time
Requires
  • Direct Deposit
  • Card Spend
Apply Now

at Albert

or, read the full requirements

M&T

Personal Checking Account

Personal Checking Account: $250 bonus offer

M&T is offering $250 if you open one of their premium checking accounts and make a small direct deposit within 90 days.

If you're not able to meet the requirements to waive the maintenance fees, you can alternatively opt for their basic checking account.

Regardless, be sure to enter your zipcode on the linked offer page, which will auto apply the appropriate promo code if you're within a targeted zipcode. Many readers have tried to apply the promo to an outside zip, and while the system allows you to move forward, you'll be "surprised" with no bonus payout when that time comes.

Bonus
$250
Account Type
Personal Checking
Expires In
21 days
Requires
  • Direct Deposit
Apply Now

at M&T

or, read the full requirements

Huntington

Huntington 5 Checking®

Huntington 5 Checking®: $200 bonus offer

Huntington is offering a welcome bonus to those opening new personal checking accounts. This one offers $200 for a $1,000 deposit into their interest-earning account.

This account comes with a monthly fee. If you don't qualify for the waiver, you can opt instead for a smaller bonus by making the same deposit into their basic (and fee-free) checking account.

Bonus
$200
Account Type
Personal Checking
Expires In
58 days
Requires
  • Min Balance
Apply Now

at Huntington

or, read the full requirements

TD Bank

Beyond Checking

Beyond Checking: $300 bonus offer

TD Bank is offering a $300 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 $500.

If the $2,500 in direct deposit is too high, they're also running a smaller offer with only a $500 deposit requirement.

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.

Bonus
$300
Account Type
Personal Checking
Expires In
82 days
Requires
  • Direct Deposit
Apply Now

at TD Bank

or, read the full requirements

Bank of America

Advantage Banking Account

Advantage Banking Account: $100 bonus offer

Bank of America is offering $100 for opening a new personal checking account. They recently upped the direct deposit requirements from $250 to $1000, which is quite steep for a bonus of this size.

It's not a huge bonus, but it's available nationwide and the requirements are super low.

Bonus
$100
Account Type
Personal Checking
Expires In
143 days
Requires
  • Direct Deposit
Apply Now

at Bank of America

or, read the full requirements

Best savings account bonuses

Bank Bonus Details Learn More

CIT

Money Market Account

Money Market Account: 1-Year Amazon Prime ($139) bonus offer

CIT Bank is offering a unique bonus for opening a money market account and maintain a minimum balance. Not only will you earn interest on you money (0.45% APY currently), you'll also receive one year of Amazon Prime absolutely free. This is valid for new Amazon Prime customers or existing customers to be applied at time of renewal.

Bonus
1-Year Amazon Prime ($139)
Account Type
Mma
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at CIT

or, read the full requirements

Discover

Online Savings Account

Online Savings Account: up to $200 bonus offer

Discover – one of our top picks for online banks – is currently offering up to $200 for opening a new Online Savings account. You'll need to deposit $25,000 to earn the full amount, but $15,000 only results in a loss of $50.

One perk to this bonus is that Discover doesn't have a requirement for how long you need to keep the cash in the account, so you can deposit and withdraw immediately. Doesn't get much easier than that!

Bonus
up to $200
Account Type
Personal Savings
Expires In
36 days
Requires
  • Min Balance
Apply Now

at Discover

or, read the full requirements

Alliant

Ultimate Opportunity Savings Account

Ultimate Opportunity Savings Account: $100 bonus offer

Alliant Credit Union has partnered with Suze Orman to encourage people to make saving a priority. To that end, they've launched “The Ultimate Opportunity Savings Account” promotion, where you can earn a $100 welcome bonus by opening a new savings account and making the commitment to deposit $100 each month.

Keep in mind that these deposits don't need to be made via direct deposit, as is common with many bank bonuses. Instead, regular transfers each month will work.

The first transfer will need to be made within 30 days of opening the account, and while it does take a full 12 months to satisfy the requirements, the ROI on your cash is impressive.

This is a nationwide bonus from one of the best credit unions, so definitely check it out!

Bonus
$100
Account Type
Personal Savings
Expires In
143 days
Requires
  • Min Balance
Apply Now

at Alliant

or, read the full requirements

Bask Bank

Bask Mileage Savings

Bask Mileage Savings: 1,000 bonus miles offer

Bask Bank is offering new account holders an additional 1,000 American Airlines AAdvantage® miles – on top of what the Bask Mileage Savings account already accrues.

You'll need to be a brand new Bask Bank customer to take advantage, but this offer is otherwise available nationwide with the ability to open online.

Bonus
1,000 Miles
Account Type
Personal Savings
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at Bask Bank

or, read the full requirements

Regions

LifeGreen Savings

LifeGreen Savings: up to $100 bonus offer

The main draw of LifeGreen Savings is its bonus offer, which pays out up to $100 per year when you set up automated transfers (in addition to the normal APY). If you transfer at least $10 into the account per month, you'll get a 1% savings bonus at the end of the year (up to $100).

The best part of this offer is that it isn't a one-time cash back deal. LifeGreen Savings bonuses are eligible each year that the account is in good standing.

Bonus
up to $100
Account Type
Personal Savings
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at Regions

or, read the full requirements

Best investment account bonuses

Bank Bonus Details Learn More

Ally

Ally Invest

Ally Invest: up to $3000 bonus offer

Ally Invest is offering new investors up to $3,000 in bonus cash when you open and fund a new self-directed investing account. You'll need at least $10,000 to earn the first tier bonus ($100), up to $2M to earn the full $3k.

On transfers over $2,500, Ally will also cover any transfer fees your current brokerage might charge, up to $75.

Here are the tiers of this investing bonus:

New Money Added Bonus Amount
$10,000-$24,999 $100
$25,000-$99,999 $250
$100,000-$249,999 $300
$250,000-$499,999 $600
$500,000-$999,999 $1,200
$1,000,000-$1,999,999 $2,000
$2,000,000+ $3,000
Bonus
up to $3000
Account Type
Investment
Expires In
51 days
Requires
  • Min Balance
Apply Now

at Ally

or, read the full requirements

J.P. Morgan

Self-Directed Investing

Self-Directed Investing: up to $625 bonus offer

Available nationwide with the ability to open online, J.P. Morgan Wealth Management is offering up to a $625 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 $25,000, down from the previous $100,000 entry point!

Here are all 3 tiers of this investing bonus:

New Money Added Bonus Amount
$25,000-$99,999 $125
$100,000-$249,999 $300
$250,000+ $625

This is the highest offer that we've seen to-date from J.P. Morgan.

Bonus
up to $625
Account Type
Investment
Expires In
61 days
Requires
  • Min Balance
Apply Now

at J.P. Morgan

or, read the full requirements

Acorns

Acorns Invest [Referral Program]

Acorns Invest [Referral Program]: $500 bonus offer

Every week, Acorns reintroduces its referral bonus, which gives you cash for referring friends to the FinTech. This week, Acorns is offering a $500 bonus when you refer 3 friends who open a new Invest account and make their first investment. This isn't the highest "average reward per person" deal we've seen, but it is super easy.

You don't need to already have an Acorns account to qualify, either.

Just sign up for one using the link below, and you'll have instant access to your unique referral link, which you can then pass along to your friends. In your account, you'll be able to see the number of pending and successful referrals so that you can keep track of your progress to the bonus.

This offer will also automatically stack with their regular $10 bonus offered to BankBonus.com users, for additional earnings.

Bonus
$500
Account Type
Investment
Expires In
3 days
Requires
  • Open an Account
Apply Now

at Acorns

or, read the full requirements

Axos

Self-Directed Trading + Rewards Checking Combo

Self-Directed Trading + Rewards Checking Combo: $200 bonus offer

Axos is trying something new with their Self-Directed Trading bonus this quarter. They are looking to reward users that signup for a Rewards Checking account and add-on a Self-Directed Trading account.

Axos is offering a $200 welcome bonus for users that complete the requirements for both. This may seem a little unconventional; however, it does provided a seamless banking/investing experience and the opportunity for a high APY on your money that's not invested.

Bonus
$200
Account Type
Investment
Expires In
51 days
Requires
  • Direct Deposit
  • Min Balance
Apply Now

at Axos

or, read the full requirements

Tradestation

Securities or Crypto Account

Securities or Crypto Account: up to $150 bonus offer

Available nationwide with the ability to open online, Tradestation is offering new customers a $150 cash bonus when you open a new securities investment account or $150 in Bitcoin when you open a new crypto trading account.

Bonus
up to $150
Account Type
Investment
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at Tradestation

or, read the full requirements

Tastyworks

Investment Account

Investment Account: up to $250 bonus offer

Tastyworks is offering new customers up to $250 in stocks when you open a new non-IRA brokerage account and fund the account with at least $2,000. Specifically, they state that five shares of a single stock will be randomly selected by tastyworks from a list of stocks priced between $40 and $50 USD, putting the total value ranging between $200 and $250.

They recently offered a $200 - $500 cash bonus, so this feels like a bit of a let down; however, if you don't want to roll the dice in September when this current promotion ends, it's still a solid deal to act on now.

Existing customers are eligible as well, but only if they haven't previously funded their account.

This welcome bonus is in addition to other account perks, like reduced fees when you make larger trades.

Bonus
up to $250
Account Type
Investment
Expires In
21 days
Requires
  • Min Balance
Apply Now

at Tastyworks

or, read the full requirements

Best business account bonuses

Bank Bonus Details Learn More

Chase

Chase Business Complete Banking℠

Chase Business Complete Banking℠: $300 bonus offer

Chase Bank is offering business owners a $300 bonus to open a new Chase Business Complete Banking℠ account.

The requirements are pretty easy to meet: deposit $2,000 and maintain it for 2 months, and complete just 5 qualifying transactions in the first 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.

Bonus
$300
Account Type
Business Checking
Expires In
71 days
Requires
  • Min Balance
  • Card Spend (optional)
Apply Now

at Chase

or, read the full requirements

Axos

Business Interest Checking

Business Interest Checking: up to $200 bonus offer

Available nationwide with the ability to open online, Axos is offering a $200 welcome bonus when you open a new Business Interest Checking account and maintain a minimum balance. This is double their previous offer so now might be a good time to jump on it!

It's important to note that only new businesses (those incorporated after 06/01/2020) are eligible for $200 and must use promo code NEWBIZ200. If your business is older than that, you'll only be eligible for a $100 bonus and must use promocode NEWAXOSBIZ.

Bonus
up to $200
Account Type
Business Checking
Expires In
51 days
Requires
  • Min Balance
Apply Now

at Axos

or, read the full requirements

Axos

Business Premium Savings

Business Premium Savings: up to $200 bonus offer

Available nationwide with the ability to open online, Axos is offering a $200 welcome bonus when you open a new Business Premium Savings account and maintain a minimum balance. This is double their previous offer so now might be a good time to jump on it!

It's important to note that only new businesses (those incorporated after 06/01/2020) are eligible for $200 and must use promo code NEWBIZ200. If your business is older than that, you'll only be eligible for a $100 bonus and must use promocode NEWAXOSBIZ.

Wanna get a checking account instead? They're also running this $200 promotion on their Business Interest Checking account.

Bonus
up to $200
Account Type
Business Savings
Expires In
51 days
Requires
  • Min Balance
Apply Now

at Axos

or, read the full requirements

Huntington

Unlimited Plus Business Checking

Unlimited Plus Business Checking: $750 bonus offer

Huntington is offering a welcome bonus to those opening new business checking accounts. This one offers $750 for a $20,000 deposit. Don't have $20k? They're also running $100 and $400 offers for $2,000 and $5,000 deposits, respectively.

While the account needs to remain open for 6 months to avoid forfeiting the offer, you will get the bonus within 2 weeks of meeting the requirement which is pretty great!

Bonus
$750
Account Type
Business Checking
Expires In
89 days
Requires
  • Min Balance
Apply Now

at Huntington

or, read the full requirements

Amex

Business Checking

Business Checking: $300 bonus offer

Available nationwide with the ability to open online, Amex is offering a $300 welcome bonus when you open a new business checking account and make qualifying transactions. This is a rare offer from American Express and relatively easy to earn.

Bonus
$300
Account Type
Business Checking
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at Amex

or, read the full requirements

433 Current Bank Promotions and New Account Offers

We track bonuses and sign-up offers for opening everything from a new checking account or high-yield savings account, to a new credit card or brokerage account.

Here are 433 bank promotions that will give you cash for opening a new account right now:

331. Bank of America Customized Cash Rewards - $200 bonus

Bank of America's Customized Cash Rewards Credit Card comes with an introductory bonus of $200 in online cash rewards after spending $1,000 in the first three months of account opening.

This is in addition to the 0% intro APR that you'll enjoy for the first 15 months.

Bank of America : Customized Cash Rewards

Bonus Amount
$200
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new Bank of America® Customized Cash Rewards Credit Card using the link below.
  2. Within 30 days, spend $1,000 using your new card.
  3. Bonus will be credited to your rewards balance within 8-12 weeks of meeting the requirements.

332. Capital One Quicksilver Cash Rewards - $200 bonus

The Quicksilver from Capital One credit card comes with a $200 welcome bonus. All you need to do to qualify is make $500 worth of purchases within three months of opening the account.

The card has no annual fee, and cardholders also enjoy experiences such as VIP tickets and 5-star meals, among other perks.

Capital One : Quicksilver Cash Rewards

Bonus Amount
$200
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new Quicksilver Cash Rewards Credit Card using the link below.
  2. Within 3 months, spend $500 using your new card.
  3. Bonus will be credited to your rewards balance within 2 billing cycles.

333. Discover it® Credit Card - Cash Back Match bonus

The Discover it® Cash Back and Chrome credit cards offer new cardholders a bonus 2X "Cashback Match" on all cash back earned in the first year. This means that if you earned $150 in cash back, Discover will give you an additional $150.

You'll be automatically enrolled when you open your new account, and there's no limit to how big of a bonus you can earn.

Keep in mind that this deal is in addition to the 0% intro APR that both cards offer for the first 15 months.

Discover Bank : Discover it® Credit Card

Bonus Amount
Cash Back Match
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new Discover it® Cash Back or Discover it® Chrome credit card using the link below.
  2. For the first year, use your credit card to earn cash back: for Discover it® Cash Back, you'll earn 5% in rotating categories, 1% on everything else; for Discover it® Chrome, you'll earn 2% at gas stations and restaurants, 1% on everything else.
  3. After 12 consecutive billing cycles, bonus cash will be credited to your rewards account within 2 billing cycles.

334. U.S. Bank Altitude® Go Visa Signature® Card - 20,000 bonus points

The U.S. Bank Altitude Go Visa Signature Card offers new members 20,000 bonus points when spending $1,000 in the first 90 days of membership.

Your bonus points can then be redeemed for cash in the form of statement credits or a withdrawal to your U.S. Bank savings or checking account.

U.S. Bank : Altitude® Go Visa Signature® Card

Bonus Amount
20,000 Points
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new U.S. Bank Altitude® Go Visa Signature® Card using the link below.
  2. Within 90 days, spend $1,000 using your new card.
  3. Bonus will be credited to your rewards account within 6 to 8 weeks of meeting the requirement.

335. U.S. Bank Cash+® Visa Signature® Card - $200 bonus

U.S. Bank's Cash+ Visa Signature Card offers new cardholders a welcome bonus of $200 after spending $1,000 on eligible purchases within the first 120 days of opening the account.

This is up from their old offer of $150, but the spend requirement is also higher (the old offer required $500 within 90 days).

The Cash+ Visa Signature Card offers a 0% intro APR on balance transfers for the first 18 months, a customizable cashback scheme, and no annual fee.

U.S. Bank : Cash+® Visa Signature® Card

Bonus Amount
$200
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new U.S. Bank Cash+® Visa Signature® Card using the link below.
  2. Within 120 days, spend $1,000 using your new card.
  3. Bonus will be credited to your rewards account within 6 to 8 weeks of meeting the requirement.

336. Greater Nevada Credit Union Personal Checking - $150 bonus

Available in Nevada with the ability to open online, Greater Nevada Credit Union is offering a $150 welcome bonus to "Community Heroes" when you open a new checking account and set up direct deposit. If you're work in one of the following professions, you qualify: Education, First Responder, Law Enforcement, Healthcare, Military

Greater Nevada Credit Union : Personal Checking

Bonus Amount
$150
Account Type
Personal Checking
Availability
NV
Offer Expires
Limited Time
Bonus Requirements
  1. Work in a qualifying "Community Hero" profession.
  2. Become a member of Greater Nevada Credit Union.
  3. Open a personal checking account.
  4. Within 90 days, enroll in online banking and eStatements.
  5. Also within 90 days, make at least 1 direct deposit.
  6. Bonus will be credited to your checking account within 30 days after the initial 90-day period has passed and all qualifications have been met.
Apply Now

at Greater Nevada Credit Union

337. Chartway Federal Credit Union Cash Back Checking - $100 bonus

Available nationwide with the ability to open online, Chartway Federal Credit Union is offering a $100 welcome bonus when you open a new Cashback Checking account and use your debit card.

Chartway Federal Credit Union : Cash Back Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Be a new member to Chartway Federal Credit Union
  2. Open a Cash Back Checking account.
  3. Within 90 days, make 10 transactions of $10 or more.
Apply Now

at Chartway Federal Credit Union

338. Citi Rewards+® Card - 20,000 bonus points

The Citi Rewards+® Card offers new cardholders a welcome bonus of 20,000 bonus ThankYou Points, which you can get after making $1,500 in purchases within the first three months.

You can exchange these bonus points for $200 worth of gift cards from a large variety of retailers, or transfer to one of the 16 airlines that Citi's ThankYou Rewards program partners with to make the points even more valuable.

This is in addition to the 0% intro APR that the card offers for the first 15 months on purchases and balance transfers. (After that, the variable APR will be 15.74% - 25.74%)

Citi : Citi Rewards+® Card

Bonus Amount
20,000 Points
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new Citi Rewards+® Card using the link below.
  2. Within 3 months, spend $1,500 using your new card.
  3. Bonus will be credited in the form of 20,000 points, which can be redeemed for $200 in gift cards.

339. Citi CitiBusiness® / AAdvantage® Platinum Select® Mastercard® - 65,000 bonus miles

The CitiBusiness® / AAdvantage® Platinum Select® Mastercard® offers new cardholders 65,000 American Airlines AAdvantage® bonus miles after spending $4,000 in the first four months.

Bonus Tip: You also get a single companion pass for a domestic flight after you spend $30,000 in a single year and renew your card. But keep in mind, redeeming that certificate will cost you $99 + taxes and fees.

Citi : CitiBusiness® / AAdvantage® Platinum Select® Mastercard®

Bonus Amount
65,000 Miles
Account Type
Business Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new CitiBusiness® / AAdvantage® Platinum Select® Mastercard® credit card using the link below.
  2. Within 4 months, spend $4,000 using your new card.
  3. Bonus miles will be credited in your AAdvantage® account in 8-10 weeks.

340. Jovia Financial Credit Union Youth - $25 bonus

Jovia Financial has an easy-to-earn offer available for their Youth Accounts. New and first-time Youth accounts that deposit at least $100 and maintain it for 90 days will automatically receive the $25 bonus.

Jovia Financial Credit Union : Youth Accounts

Bonus Amount
$25
Account Type
Student Savings
Availability
NY
Offer Expires
Limited Time
Bonus Requirements
  1. Be a member of Jovia Federal Credit Union.
  2. Open a Youth account for your child 17 or younger and deposit at least $100.
  3. Maintain at least $100 in the Youth account for at least 90 days.
  4. Amazon gift card will be provided when balance requirements are met.
Learn More

at Jovia Financial Credit Union

341. CFCU Personal Checking - $100 bonus

Available in select counties in Maine, The County Federal Credit Union is offering a $100 welcome bonus when you open a new checking account and set up direct deposit.

The County Federal Credit Union : Personal Checking

Bonus Amount
$100
Account Type
Student Checking
Availability
ME
Offer Expires
Limited Time
Bonus Requirements
  1. Become a member of CFCU.
  2. Open a new personal share draft/checking account with The County Federal Credit Union with a minimum deposit of $200.00.
  3. Make a direct deposit within 60 days of opening the personal share draft/checking account.
  4. Maintain membership in good standing for 90 days (i.e. all account balances must remain at or above the required minimum balance and any loans must not be past due).
  5. Bonus will be directly deposited into the eligible checking account by electronic deposit within the next statement cycle.

342. Illinois State Credit Union Totally Free Checking - $100 bonus

Available in select IL counties or nationwide, to ISU alums OR through a $5 donation to the Weisbecker Scholarship Fund, Illinois State Credit Union is offering a $100 welcome bonus when you open a new checking account and keep it active. To be considered active, you'll need to do things like setup direct deposit or use your debit card.

Illinois State Credit Union : Totally Free Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Be an existing member without a checking account OR become a member.
  2. Open a new checking account.
  3. For 45 days, you must exhibit activities that show you have an "active" account; these include using your debit card regularly, setting up direct deposit or making deposits.
  4. Bonus will be awarded after your account is reviewed following the 45 period.
Apply Now

at Illinois State Credit Union

343. NESC Federal Credit Union Personal Checking - $100 bonus

Available in Massachusetts, NESC Federal Credit Union is offering a $100 welcome bonus when you open a new checking account and set up direct deposit.

NESC Federal Credit Union : Personal Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
MA
Offer Expires
Limited Time
Bonus Requirements
  1. Become a member of NESC Federal Credit Union. Open a checking account.
  2. Within the first 60 days, make direct deposits totaling at least $200.
  3. Also within 60 days, make at least 6 debit card transactions.
  4. Bonus will be paid by the 10th of the following month.
Apply Now

at NESC Federal Credit Union

344. South Carolina Federal Credit Union Bank at Work Checking - $100 bonus

Available in South Carolina, SC Federal Credit Union is offering a $100 welcome bonus when you open a new checking account through their Bank at Work program and set up direct deposit.

South Carolina Federal Credit Union : Bank at Work Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
SC
Offer Expires
Limited Time
Bonus Requirements
  1. Work for a company that partners with South Carolina Federal Credit Union.
  2. Open a checking account through their Bank at Work program.
  3. Make a direct deposit of $250 or more.
  4. Enroll in eStatements.
  5. Bonus will be deposited upon verification, usually 4-6 weeks.
Learn More

at South Carolina Federal Credit Union

345. Amex Business Checking - $300 bonus

Available nationwide with the ability to open online, Amex is offering a $300 welcome bonus when you open a new business checking account and make qualifying transactions. This is a rare offer from American Express and relatively easy to earn.

American Express : Business Checking

Bonus Amount
$300
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new business checking account.
  2. Within 20 days, deposit $5,000 into your account and maintain an average account balance of $5,000 for 60 days.
  3. Within 60 days, make 10 or more transactions (mobile deposits, and electronic/online transactions including ACH, Wire, and Bill Payments).
  4. Bonus will be deposited within 8-12 weeks after completing the requirements.

346. Citi Accelerate Savings - 1.40% APY

Citi offers a really competitive APY rate in their Citi® Accelerate Savings account, a high-yield savings product.

You can find slightly higher rates elsewhere, but nearly all of those will have balance limits. In other words, you'll earn a great rate on the first $15k, but then the rate drops considerably.

Citi, on the other hand, has no limit. So for those who have sizable savings they'd like to keep liquid, Citi® Accelerate Savings will often win out.

There's no opening deposit minimum or ongoing balance requirements, but do keep in mind that having a $0 balance for longer than 3 months could cause your account to be closed.

Citi : Citi® Accelerate Savings

Bonus Amount
1.40% APY
Account Type
Personal Savings
Availability
AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, FL, GA, GU, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new Citi® Accelerate Savings account using the link below.
  2. Transfer money from a different bank or an existing Citi account.
  3. Interest compounds daily and will be credited to your account each month.

347. Citi Mortgage Relationship Pricing - up to $500 or 0.625% off

Citi is known to give special loyalty perks to current customers. For example, having a Citigold® account can save you $145 on your Citi® / AAdvantage® Executive World Elite Mastercard® annual fee.

Likewise, if you're shopping for a mortgage and already have a Citi personal checking and/or savings account (or are willing to open one), you can potentially save some serious cash.

The Citi Mortgage Relationship Pricing promotion essentially says that if your set up automatic mortgage payments from your Citi deposit account, you qualify for either a closing cost credit or an interest rate discount for the life of your home loan.

Which discount applies depends on the amount you have cumulatively across any personal checking accounts, personal savings accounts, linked Citibank IRAs and/or CGMI investment accounts:

  • $1: $500 off closing costs
  • $50,000: 1/8% off interest rate
  • $200,000: 1/4% off interest rate
  • $500,000: 3/8% off interest rate
  • $1,000,000: 1/2% off interest rate
  • $2,000,000: 5/8% off interest rate

Citi : Citi Mortgage Relationship Pricing

Bonus Amount
up to $500 or 0.625% off
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Have an existing Citi deposit account or open a new one (be sure to check for any sign-up bonuses!).
  2. Within 5 business days following final loan approval, have a combined balance across all eligible accounts of less than $50,000 to earn a $500 closing cost credit. Balances above $50,000 will earn a tiered interest rate discount, starting at 1/8%, up to 5/8% for those with $2M+.
  3. Set up automatic mortgage payments from your deposit account.
  4. Bonus will be applied at closing.

348. Acorns Invest - $10 bonus

Acorns is offering BankBonus.com users a $10 welcome bonus when you open a new Invest account. You just need to open the account from the link below and fund it with $5 to earn the reward.

What's more? They've been running amazing referral bonuses. So, sign up for a new account and then share your referral link with friends and family, and you could be pocketing up to $1,000+ each week!

Acorns : Acorns Invest

Bonus Amount
$10
Account Type
Investment
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new Acorns Invest account using the link below.
  2. Fund account with at least $5.

349. CommunityAmerica Credit Union AtWork Checking - $200 bonus

CommunityAmerica Credit Union is offering a $200 welcome bonus (up from the previous $150 offer!) to those who open a new Chiefs Checking or Cashback Free Checking account.

This offer is part of their At Work Program and partnership with Burns & McDonnell, but the fine print doesn't state that you need to be associated with Burns & McDonnell, unlike the terms of the mortgage offer also listed on the page. So, YMMV.

CommunityAmerica Credit Union : AtWork Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
KS, MO
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new Chiefs Checking or Cashback Free Checking account using the promo code BMC.
  2. Within 60 days, receive a monthly direct deposit of $250.
  3. The bonus will be deposited into your primary savings account within 30 days of meeting the requirements.
Apply Now

at CommunityAmerica Credit Union

350. Citi American Airlines AAdvantage MileUp℠ Card - $50 + 10,000 bonus miles

The American Airlines AAdvantage MileUp℠ offers new cardholders 10,000 American Airlines AAdvantage® bonus miles and $50 as a statement credit on your Citi bill after spending just $500 in the first three months.

Citi : American Airlines AAdvantage MileUp℠ Card

Bonus Amount
$50 + 10,000 Miles
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new American Airlines AAdvantage MileUp℠ using the link below.
  2. Within 3 months, spend $500 using your new card.
  3. Bonus miles will be credited in your AAdvantage® account and $50 will appear as a statement credit in your Citi account in 8-10 weeks.

351. Fidelity Personal - up to $50 bonus

Available nationwide, Fidelity is offering up to a $50 welcome bonus when you open a new The Fidelity Account, Fidelity Cash Management Account, or a Fidelity Roth or traditional IRA from within their Spire app and set up a recurring monthly deposit.

The bonus is tiered based on your initial deposit, starting at $10 for funding the account with $10, $25 for funding the account with $25, and finally the full $50 for funding the account with $50.

You'll also need to set up a recurring monthly deposit of at least $10 and maintain that for at least 6 months. While this requirement doesn't impact your bonus, the fine print does say that you could forfeit the reward for not doing so.

Keep in mind that the fine print says that you'll need to maintain the bonus award in the account for at least 6 months, otherwise you could forfeit it.

Fidelity Investments : Personal Account [Spire App]

Bonus Amount
up to $50
Account Type
Investment
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new qualifying account through the Spire app.
  2. Within 20 days, make your first deposit of at least $10 to earn $10; $25 to earn $25; or $50 to earn the full $50.
  3. Additionally, establish an automatic monthly deposit of at least $10 and maintain that recurring deposit for at least 6 months.
  4. Bonus will be deposited within 5 business days after the 20-day qualification period.

352. Midwest Heritage Bank Personal Checking - $75 bonus

Available in Iowa and Kansas with the ability to open online, Midwest Heritage Bank is offering a $75 welcome bonus when you open a new E-Checking or E-Checking Plus checking account and set up direct deposit.

Midwest Heritage Bank : Personal Checking

Bonus Amount
$75
Account Type
Personal Checking
Availability
IA, KS
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new E-Checking on E-Checking Plus checking account.
  2. Within 60 days, complete 2 direct deposits.
  3. Also within 60 days, sign up for online/mobile banking and enroll in eStatements.
  4. Bonus will be deposited within 10 business days of qualifications being met.
Apply Now

at Midwest Heritage Bank

353. Citi AT&T Access Card - 10,000 bonus points

Citi is offering new AT&T Access Card cardmembers a welcome bonus of 10,000 bonus ThankYou® Points after spending $1,000 in the first three months of ownership.

Citi : AT&T Access Card

Bonus Amount
10,000 Points
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new AT&T Access Card from Citi using the link below.
  2. Within 3 months, spend $1,000 using your new card.
  3. Bonus will be credited in the form of 10,000 ThankYou® Points, which can be redeemed for $100.

354. Citi / AAdvantage® Executive World Elite Mastercard® - 50,000 bonus miles

The Citi® / AAdvantage® Executive World Elite Mastercard® offers new cardholders 50,000 American Airlines AAdvantage® bonus miles after spending $5,000 in the first three months.

Bonus Tip: You also get 10,000 AAdvantage® Elite Qualifying miles if you spend $40,000 in a single year.

Citi : Citi® / AAdvantage® Executive World Elite Mastercard®

Bonus Amount
50,000 Miles
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Apply for a new Citi® / AAdvantage® Executive World Elite Mastercard® credit card using the link below.
  2. Within 3 months, spend $5,000 using your new card.
  3. Bonus miles will be credited in your AAdvantage® account in 8-10 weeks.

355. Varo Money Bank - 12,000 Swagbucks bonus

Swagbucks is offering 12,000 SB to new Varo Bank customers. You'll need to first enroll in the offer through Swagbucks, then use that same email address to open a new Varo account and fund it with $25.

The 12,000 SB can be cashed out for $120 in gift cards.

Varo Bank : Bank Account

Bonus Amount
12,000 Swagbucks
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Enter your email address on the page linked below to enroll in the offer.
  2. Open a new Varo account using the same email address and fund it with at least $25.
  3. Bonus will be credited within 32 days in the form of 12,000 Swagbucks, which can be cashed out for $120.

356. Varo Money Bank - 20,000 MyPoints

MyPoints is offering 20,000 bonus points to new Varo Bank customers. You'll need to first enroll in the offer through MyPoints, then use that same email address to open a new Varo account and fund it with $25.

The 20,000 points can be cashed out for ~$126.

Varo Bank : Bank Account

Bonus Amount
20,000 MyPoints
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Enroll in the offer using your MyPoints account.
  2. Open a new Varo account using the same email address and fund it with at least $25.
  3. Bonus will be credited within 45 days in the form of 20,000 points, which can be cashed out for about $126.

357. Fidelity Personal - $100 bonus

Fidelity is offering a super easy $100 bonus to customers who open a new Fidelity Account®, Cash Management Account, or a Roth or traditional IRA.

To earn the bonus, you'll just need to fund the new account with $50. Then, 10 days later, your account will be $100 richer.

Keep in mind that the fine print says that you'll need to maintain the bonus award in the account for at least 90 days, otherwise you could forfeit it.

Fidelity Investments : Personal Account

Bonus Amount
$100
Account Type
Investment
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new eligible account using the promo code FIDELITY100.
  2. Within 15 days, deposit $50.
  3. Bonus will be deposited directly to the eligible account within 10 calendar days after the qualification period.

358. BrightStar Credit Union Business Checking - $100 bonus

Brightstar Credit Union is offering a fairly easy $100 bonus to new members who open a business checking account.

All they ask is that you maintain an active account by completing 4 transaction each month, but let you decide what those transactions will be.

With that said, they do require a fairly lengthy commitment of 7 months, plus an extra month for account review, before receiving your bonus.

BrightStar Credit Union : Business Checking Accounts

Bonus Amount
$100
Account Type
Business Checking
Availability
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new business checking account using the link below.
  2. Enroll in eStatements.
  3. Complete at least 4 transactions (such as direct deposits, writing checks, debit spend, etc) per month for 7 months.
  4. Bonus will deposit 4-6 weeks after the end of the 7th month.
Learn More

at BrightStar Credit Union

359. Community Choice Credit Union Personal Checking - up to $100 bonus

If you live, work or worship in Michigan, Community Choice Credit Union is offering up to a $100 welcome bonus for joining and opening a new personal checking account.

This is a two-part offer. First, you'll earn $50 for joining and opening either a Basic or Choice checking account. Next, you can earn an additional $50 just by having chosen the Choice Checking account, or by receiving direct deposits into a Basic Checking account.

Keep in mind that although the Choice Checking account doesn't require direct deposits to earn the full $100 bonus, it does come with a small monthly fee that can only be offset via their GetBigReward$ program. Considering the small offer, you'll definitely want to factor that in when choosing between the two accounts.

Community Choice Credit Union : Personal Checking

Bonus Amount
up to $100
Account Type
Personal Checking
Availability
MI
Offer Expires
Limited Time
Bonus Requirements
  1. Join the credit union using the promo code NewMover50 and open a checking account to earn $50.
  2. Within 60 days, have either an active Choice Checking account or have direct deposits into a Basic Checking account that cumulatively total $300 every 35 days to earn an additional $50.
  3. New member bonus will be credited to your checking account 30 days after joining. The additional $50 bonus will be deposited 60 days after joining.
Apply Now

at Community Choice Credit Union

360. CommunityAmerica Credit Union Chiefs Checking or Cashback Free Checking - $100 bonus

Available to new members with the ability to open online, CommunityAmerica Credit Union is offering a $100 welcome bonus when you open a new checking account and maintain "Qualifications for cash back" status. To maintain status, they give you the option of eStatements + debit card transactions OR direct deposit + a lower number of debit card transactions.

What's even more? You can stack this offer with their savings account bonus to earn a total of $150.

CommunityAmerica Credit Union : Chiefs Checking or Cashback Free Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
KS
Offer Expires
Limited Time
Bonus Requirements
  1. Become a member and open a new Cashback Free Checking or Chiefs Checking account.
  2. Within 60 days of account opening, maintain the ‘Qualifications for cash back’ requirements for a consecutive 31 days; 2 options: make direct deposit of at least $250 + 15 debit card purchases OR enroll in eStatements + 25 debit card purchases.
  3. Bonus will be deposited into primary savings account within 30 days of meeting qualifications.
Apply Now

at CommunityAmerica Credit Union

What Are Bank 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 account opening 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 (or credit union) 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 Checking Account Bonus?

First, you typically need to be a new customer.

Next, you’ll have to meet requirements such as completing certain activities for a period of consecutive months after account opening.

These activities can be anything from meeting and maintaining a minimum balance or minimum deposit, making a qualifying direct deposit, using your debit card, enrolling in mobile banking, or a combination of several of these activities.

We’re intentionally vague here, because every new account bonus will come with different terms. Often, the more difficult the requirements, the higher the reward.

Requirements for checking account offers usually fall into four categories:

  1. Minimum Balance: Some bonuses will require you to transfer new money to the account and then maintain that balance for a certain period of time. How long will vary, but it’s typically from 30 to 90 days.
  2. Direct Deposit: Other offers will require you to receive qualifying direct deposits from your employer or government benefits such as social security. Often, the deposit will need to exceed a certain amount, and terms can vary from a single deposit to a recurring deposit that occurs over consecutive months.
  3. Debit Card Purchases: Sometimes the checking account bonus will require you to use your debit card to make a certain number of purchases. Keep in mind that ATM withdrawals won’t count.
  4. Account Features: The last common requirement involves using account features like Bill Pay, enrolling in eStatements, remote deposit capture, or logging into the mobile app.

Banks will outline exactly which of the above requirements – sometimes just one, sometimes a combination of several – are necessary to qualify for the checking account bonus.

In addition to meeting the initial requirements, you also usually have to stay in good standing with the bank or credit union for a certain number of days after account opening (the first three to six 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 balance as required by the bank.

It goes without saying, of course, that avoiding a negative balance is also critical, so don’t overdraft your account!

Ultimately, they’re putting the terms in place 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 bank 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 payment 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.

Once you’ve met all the requirements, it’ll usually take a few business days for your cash to show up in your checking or savings account.

Most bank offers will clearly state when and how to expect your cash bonus, so again, read the fine print (we also call this out clearly in every offer we publish on BankBonus.com).

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 offered for opening a traditional checking account, but you can also find them for opening a new business checking account, money market account, savings account, credit card, or investment account.

How do I avoid monthly fees?

A monthly maintenance fee is a fee charged by a financial institution simply for having the account. This is typically bundled with premium features such as interest on your deposit balance.

This is different from other account fees like atm surcharges, overdraft fees, or early account termination fees.

Fortunately, most of the time, the monthly service fee can be waived by meeting certain requirements such as receiving qualifying direct deposits, or maintaining a minimum balance requirement.

If you can’t meet the thresholds necessary to waive the monthly fee, fear not.

Many banks offer a checking account bonus even for opening one of their totally free checking accounts.

How To Find A Bank Sign Up Bonus

Keep an eye out for promotional materials from local or national banks that advertise a new checking account or savings account bonus.

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 promotions 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 Do The Best Bank Promotions 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 checking and savings account bonuses are everywhere, but customers can most often expect to see them popping up at the bigger national banks or credit unions. Some of the most popular are:

The best bank 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 a monthly maintenance fee for your new account. 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 charges an unavoidable $15 monthly fee, then your bonus offer gets washed out in about 13 months.

Ideally, the bank or credit union you decide to go with won’t charge you any fees, or there will be a way to get around them (such as monthly direct deposits).

The same goes for evaluating a credit card offer. The biggest account opening bonuses will come for cards with an annual fee. But this only makes sense if the card offers rewards and perks that you find genuinely valuable.

That way, you’ll be able to enjoy your cash bonus without giving it right back.

Calculator: Bank Bonus APY

If you’re eyeing a new savings, investment or checking account bonus, you may be wondering how to analyze some of the above factors to determine whether it’s a worthwhile offer.

It’s true that bank bonuses will very often give you an effective interest rate that is WAY higher than any HYSA, while still being low risk compared to the short-term volatility of say, the stock market.

But, as we said, that’s not the case for every offer, so we recommend you always run the numbers for yourself.

And, like always, we’re here to help with that.

If you have cash sitting in a savings account that you’re considering using to meet a minimum balance bonus requirement, this calculator will help you compare the APY of your savings account versus the cash reward.

What's the total amount you'll receive?

$

What's the minimum balance you're required to hold in the new account?

$

How long are you required to hold the balance in the new account in order to earn the bonus?

What fees will you incur while having the account? Don't include fees that will be waived or those that are avoidable, such as overdraft fees.

Already have your savings parked in a HYSA? Enter the rate you're earning to compare the bonus to that instead of the national average.

%

Our Methodology

As you can see, there are several things to consider when vetting or ranking savings account and checking account offers.

We focused on the following criteria:

  • Reasonable requirements compared to the cash payout
  • Nationally available offers
  • FDIC or NCUA insured, to protect your deposits
  • Accounts with no or waivable monthly fees

New Bank Account Offers: 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.

First, make sure you understand the exact requirements, including what’s required of you and by when (not only when the offer expires, but also how quickly you’ll need to complete the tasks).

Also note whether there’s a promo or coupon code that needs to applied at the time you open the account to enroll in the promotion.

What’s more, sometimes you need to be targeted with a specific offer page or email to get in the door.

Next, make sure you’re eligible for the offer. Banks will often exclude current or former customers from a bonus offer, may require you to be of a certain age or live in a certain state or region.

Why a certain location? Bank offers are often regional, so your friend in Michigan might see a checking bonus that’s different than what you’re getting in Kentucky – even if it’s with the same bank.

Once you’re certain that you’re eligible for the checking account bonus or savings promotion, pay close attention to the requirements.

These will be clearly outlined, but still have nuances you’ll want to be aware of.

For example, banks may require that account holders make their initial deposit via a qualifying direct deposit, rather than transferring money from another account. Banks like direct deposits because they provide steady, guaranteed revenue coming into the bank.

Finally, don’t forget that checking account bonuses are considered income and will need to be claimed come tax time. Unlike credit card bonuses, which are viewed by the IRS as a rebate or discount, 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 usually no impact on your credit score.

Bank Promotions FAQs

What banks give you a bonus for opening a new account?

Offers are constantly changing. At BankBonus.com, we’re constantly scouring and updating the best bank bonuses available, so be sure to check back often (seriously, new offers are added almost every day!).

With that said, even though the actual bonus terms tend to change over time, almost all banks offer some kind of perk for opening a new bank account.

Larger, national banks typically have the resources to pay out the best bank 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 (or NCUA, if it’s a credit union), which means that your deposits will be protected up to $250,000.

Are new savings and checking account bonuses worth it?

Some bonus offers are worth it, and some aren’t.

A $400 cash bonus might seem like an amazing deal, but if you’re moving funds over from a high-yield savings account that earns a significant Annual Percentage Yield (APY), you might be losing money in the long run.

These days, however, most deposit and savings account don’t offer great interest rates – particularly those from big national banks.

So bank bonuses are very often a fantastic way to put your savings to work. Check out our Bank Bonus Return Calculator to determine for yourself the effective rate of a welcome offer and how it compares to your HYSA.

That tool also lets you factor in any fees that might come with your new account.

These might include a monthly maintenance fee or, in the case of free checking accounts, check writing or ATM fees that might exceed the value of the bonus you’re trying to get.

Why do banks have promotions?

Ultimately, bank account bonuses are a marketing tactic to attract new customers.

While most checking accounts are free (either by default or because you’re able to meet the requirements necessary to waive the fee), banks profit from you in other ways. Overdraft and other fees, add-ons like safe deposit boxes or checks, deepening their relationship with you through products like credit cards or loans, and more.

But even if you never pay your bank a single fee or a dime of interest, they still make money by having you as a customer.

How?

Bringing in new money gives banks lending power – which means they’re able to lend to other clients and earn interest (and origination fees!) from those loans.

So, to attract new customers (and their cash), many banks offer welcome bonuses to new customers.

Are bank bonuses taxable?

Yes, money you earn from a new account bonus will be reported to the IRS and taxed as income. Keep this in mind when you’re figuring out your total return on any given offer.

One exception to this are credit card sign up offers. Since most credit cards require you to spend a certain amount in order to qualify for a bonus, the reward doesn’t count as taxable income.

Do I need a checking account to get a savings bonus?

Sometimes. Banks love to get you in the door with as many products as possible, so some will require you to hold multiple accounts to earn a bonus.

Other promotions will give you a certain reward for opening a new checking account and meeting those requirements, and an extra cash reward for also opening a new savings account at the same time.

In either case, just because a bank is offering money as a sign-up bonus for opening a new account, you still want to be sure the new account makes sense for you.

There’s no limit to how many bank accounts you can hold, so this isn’t a huge issue, as long as an unwanted account doesn’t leave you paying fees.

With this in mind, if you need to add a checking account to get a bonus, make sure that it’s a free checking account that won’t penalize you for lack of use or a low balance.

Banks With Sign Up Bonuses For Other Account Types

We prioritize savings and checking account bonus offers in the list above. Looking for a different account type or requirement? We've got you covered.

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.

That said, between national banks, online banks, credit unions, and fintech platforms, the options for where to stash your savings or deposits are endless.

With this in mind, there's no reason to give a bank your business without getting something in return.

While functionality and low fees should always be your top priority, a nice savings account bonus or new checking account offer can get your balance moving in the right direction.

So, find exactly what it is that you're looking for in a bank account, then narrow the list down based on which banks not only meet your needs but also incentivize you!

To learn more about how to find, track, and maximize bank promotions, sign up for the free 3-day email course below.