349 Best Bank Bonuses and Promotions – January 2022

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 account or savings account.

Really?

Yes! It's possible to earn hundreds of dollars just for opening a new bank account. Combine a big reward with a solid account from a great bank, and you have a winning combination!

Best New Bank Promotions and Offers for January 2022

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.

These are the best bank promotions that will give you cash right now.

Filters:

Oklahoma's Credit Union : Student Checking

About This Bonus Offer

Available in Oklahoma with the ability to open online, Oklahoma's Credit Union is offering a $10 welcome bonus when you open a new student checking account with $25.

Bonus Amount
$10
Account Type
Student Checking
Availability
OK
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new student checking account with $25 or more.

Chase Bank : Ink Business Cash®

About This Bonus Offer

In addition to the other card perks like cash back, a 0% intro APR for 12 months, and no annual fee, Chase is offering a $750 bonus to new Ink Business Cash® cardholders.

Bonus Amount
$750
Account Type
Business Credit Card
Availability
Nationwide
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Apply for a new Ink Business Cash® credit card using the link below.
  2. Within 3 months, spend $7,500 using your new card.
  3. Bonus will be credited within 6 to 8 weeks in the form of 75,000 points, which can be redeemed for $750.

Farm Bureau Bank FSB : Performance Checking

About This Bonus Offer

Available at their Reno Branch with the ability to open online, Farm Bureau Bank FSB is offering a $150 welcome bonus when you open a new Performance Checking account and optionally set up direct deposit or have debit card spend.What's more, you can earn an additional $100 when you open a Farm Bureau Bank Member Rewards Mastercard and spend $500 in the first 90 days.

Bonus Amount
$150
Account Type
Personal Checking
Availability
NV
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new Performance Checking account.
  2. Within the first 3 statement cycles, receive $3,000 in direct deposits OR make 15 debit card purchases.
  3. Bonus will be deposited 60 days after the end of the qualifying period of 3 statement cycles.

Chase Bank : Ink Business Preferred®

About This Bonus Offer

Chase is offering 100,000 bonus points to new Ink Business Preferred® cardholders. Those points can be redeemed for $1,000 cash, or they can be stretched to $1,250 if put them toward travel through Chase Ultimate Rewards®.

To get the points, you will need to make $15,000 worth of purchases in the first three months.

Bonus Amount
100,000 Points
Account Type
Business Credit Card
Availability
Nationwide
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Apply for a new Ink Business Preferred® credit card using the link below.
  2. Within 3 months, spend $15,500 using your new card.
  3. Bonus will be credited within 6 to 8 weeks in the form of 100,000 points, which can be redeemed for $1,000 cash or $1,250 in travel rewards.

Farm Bureau Bank FSB : Business Checking

About This Bonus Offer

Available at their Reno Branch, Farm Bureau Bank FSB is offering a $250 welcome bonus when you open a new business checking account and set up direct deposit.

Bonus Amount
$250
Account Type
Business Checking
Availability
NV
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new business checking account.
  2. For 3 statement cycles, receive $3,000 in direct deposits each month.
  3. Maintain an average daily balance of $3,000.
  4. Bonus will be deposited 60 days after the end of the qualifying period of 3 statement cycles.

Sterling National Bank : Power Business Banking Checking

About This Bonus Offer

Sterling National Bank is offering new and existing clients up to $500 to signup for their Power Business Banking Checking account. The bonus is earned in $100 increments each statement cycle you maintain Elite Level status ($250,000 balance or higher).

This is an easy bonus if you have the cash. One note: you'll need to open the account in a branch.

Bonus Amount
up to $500
Account Type
Business Checking
Availability
NY, NJ
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new Power Business Banking Checking account.
  2. Maintain Elite Level requirements by maintaining $250,000 across all eligible accounts.
  3. Bonus will be earned in $100 increments each month that the Elite Level status is earned, for a total possible payout of $500.

TIAA Bank : Yield Pledge® Checking

About This Bonus Offer

TIAA Bank is offering an easy bonus to new Yield Pledge Checking customers, with one big caveat: your employer must participate in their Workplace Banking program.

If you're lucky enough to qualify, however, this is a straightforward offer: open a new account, make cumulative direct deposits totaling $1,000 in 90 days, and get $150 for your trouble.

Bonus Amount
$150
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new Yield Pledge Checking account from your employer’s dedicated Workplace Banking webpage or by calling 833-880-8422.
  2. Within 90 days, receive direct deposits totaling $1,000.
  3. Bonus will be credited to your account within 120 days of account opening.

Technology Credit Union : Business Checking

About This Bonus Offer

Available in California, Tech CU is offering a $100 welcome bonus when you open a new business checking account and sign up for merchant services. This is a pretty straightforward bonus if you need merchant services.

Bonus Amount
$100
Account Type
Business Checking
Availability
CA
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new Business Basic Checking of Business Interest Checking account.
  2. Sign up for merchant services through our preferred partner US Merchant Systems.
  3. Bonus will be deposited into the Tech CU Checking account within 30 days.

TIAA Bank : Yield Pledge® Money Market

About This Bonus Offer

TIAA Bank is offering an easy bonus to new Yield Pledge Money Market customers, with one big caveat: your employer must participate in their Workplace Banking program.

If you're lucky enough to qualify, however, this is a straightforward offer: open a new account, deposit $15,000 in the first 20 days and then maintain it for 70 after that, and get $300 for your trouble. That represents a 12% effective rate on your savings, which is significantly more than any savings account these days.

Bonus Amount
$300
Account Type
Mma
Availability
Nationwide
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new Yield Pledge Money Market account from your employer’s dedicated Workplace Banking webpage or by calling 833-880-8422.
  2. Within 20 days, deposit $15,000 in new money.
  3. Maintain that balance for the next 70 days.
  4. Bonus will be credited to your account within 120 days of account opening.

Achieva Credit Union : Teen Life Checking

About This Bonus Offer

Achieva Credit Union offers teen members an honor roll bonus. Just open a Teen Life checking account, bring your report card or honor roll certificate into a local branch as proof of straight A's and you'll get a $25 bonus.

Bonus Amount
$25
Account Type
Student Checking
Availability
FL
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a Teen Life checking account.
  2. Within 90 days of receiving your report card, bring your straight A's or honor roll certificate to a local branch.

Achieva Credit Union : Teen and College Life Checking

About This Bonus Offer

Achieva Credit Union offers recent high school and college grads a graduation bonus. Just open a Teen Life or College Life checking account, bring your diploma into a local branch and you'll get up to $100: $50 for high school graduates and $100 for college (2 or 4 year!).

Bonus Amount
up to $100
Account Type
Teen and College Life Checking
Availability
FL
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a Teen Life or College Life checking account.
  2. Within 90 days of graduating, bring your diploma to a local branch.
  3. High school graduates will earn a $50 gift and college graduates will earn $100.

Excite Credit Union : Youth Savings

About This Bonus Offer

Available to residents of select counties in California and North Carolina with the ability to open online, Excite Credit Union is offering a $50 welcome bonus when you open a new youth checking account. That's it. Seriously! Just maintain the account for at least a year and watch your savings grow.

Bonus Amount
$50
Account Type
Student Savings
Availability
CA, NC
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Be a member of Excite Credit Union.
  2. Open a youth savings account.
  3. Excite will make an initial deposit of $50 to fund the account.

Broadway National Bank : Personal Checking

About This Bonus Offer

Available in Texas with the ability to open online, Broadway National Bank is offering a $200 welcome bonus when you open a Free Checking of Private Access Checking account and set up direct deposit. To complete the bonus, there's also a debit card transaction requirement.

Bonus Amount
$200
Account Type
Personal Checking
Availability
TX
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new Broadway Bank Free Checking or Private Access Checking account.
  2. Within 60 days of account opening, receive monthly direct deposits of at least $2,500.
  3. Within the same 60 day period, make at least 15 purchases with your Broadway Bank debit card.
  4. Bonus will be deposited into your new checking account within 60 days of meeting offer requirements.

Community Credit Union of Florida : Personal Checking

About This Bonus Offer

Available in select Florida counties with the ability to open online, Community Credit Union of Florida is offering a $100 welcome bonus when you open select new checking accounts and use your debit card.

Bonus Amount
$100
Account Type
Personal Checking
Availability
FL
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a personal checking account.
  2. Download the free CCU Mobile App.
  3. Within 60 days, enroll in eStatements.
  4. Also, within 60 days, use your debit card 20 times to make purchases or payments.

Coinbase : Coinbase Wallet

About This Bonus Offer

Coinbase is one of the most popular crypto wallets in the U.S., and new users can earn $5 worth of bitcoin just by signing up and completing one of two requirements.

This is a slightly unique bonus offer in that you won't know exactly which requirement you'll be assigned until after you've signed up, but both are simple enough. For the first option, you'll be rewarded $5 after you complete the photo identity verification requirement. The second option requires you to add a payment method and actually buy any cryptocurrency on Coinbase.

Keep in mind that this bonus offer is available nationwide except to Hawaii residents.

Bonus Amount
$5
Account Type
Crypto Wallet
Availability
Nationwide
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new Coinbase account.
  2. After signing up, your personalized $5 Bitcoin reward will be presented on the next page and will be one of two offers: 1) Confirm your identity with a photo ID OR 2) Make your first purchase.
  3. Receive $5 in BTC within 7 days.

Addition Financial Credit Union : Fun Bucks Savings

About This Bonus Offer

Addition Financial wants to help children learn to save by rewarding them when they do. The credit union is offering cash back in the form of "Fun Bucks" each quarter that the child deposits at least $10. The catch, however, is that you'll forfeit these Fun Bucks by making any withdrawals, except during the full calendar year when the youth member is 12, 15 or 18 years old.

Bonus Amount
up to $400
Account Type
Student Savings
Availability
FL
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a regular youth savings account in-branch.
  2. Establish a Fun Savings account.
  3. Each quarter, deposit at least $10 to earn 1% APY cash back, up to $100.
  4. The bonus – or "Fun Bucks" – will automatically post to the Fun Bucks account on the last day of each quarter.

Community Credit Union of Florida : Youth Checking

About This Bonus Offer

Available in select Florida counties with the ability to open online, Community Credit Union of Florida is offering a $10 welcome bonus when you open new youth checking account.

Bonus Amount
$10
Account Type
Youth Checking
Availability
FL
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new youth checking account.
  2. Mention promo code MK-YOUTH10.

Allegius Federal Credit Union : Kasasa Cash Back

About This Bonus Offer

Allegius Credit Union is offering high school and college students up to $200 for becoming members (which establishes a savings account) and opening a Kasasa Cash Back checking account. This reward is in addition to the competitive cash back that the checking account earns on debit card purchases!

Students need to be between 16 and 24 years old, establish $50 in recurring deposits into each account (this can be broken down into weekly or semi-monthly deposits), and those deposits need to be maintained for 60 days. Once these requirements are met, Allegius CU will deposit $100 into the membership savings account and $100 into the Kasasa Cash Back checking account, for $200 total.

Bonus Amount
up to $200
Account Type
Personal Checking
Availability
IN
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a savings and checking account using the promo code BTS.
  2. Set up a monthly automatic deposit of $50 into each account, and maintain those recurring deposits for 60 days.
  3. A $50 bonus will be credited to each account at time of opening ($100 total), and a second $50 bonus will be credited to each account approximately 60 days after account opening (another $100 total).

Community Credit Union of Florida : Personal Checking

About This Bonus Offer

Available in select Florida counties with the ability to open online, Community Credit Union of Florida is offering school employees a $125 welcome bonus when you open any new checking accounts and use your debit card.

Bonus Amount
$125
Account Type
Personal Checking
Availability
FL
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a personal checking account.
  2. Download the free CCU Mobile App.
  3. Within 60 days, enroll in eStatements.
  4. Also, within 60 days, use your debit card 20 times to make purchases or payments.

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.

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 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 rate on checking account deposits, so take that into account as well.

You also have to pay attention to the monthly fee that might come with your new account.

Even if you’re opening a free checking account, there might be check writing or ATM fees that 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 Accounts

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.