Best Bank Bonuses and Promotions of July 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 July 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 406 current offers.

Best checking account bonus offers

Bank Bonus Details Learn More

Citi

Citi Priority Account

Citi Priority Account: up to $1500 bonus offer

Available nationwide with the ability to open online, Citi is offering up to a $1,500 cash bonus when you open a new Citi Priority Account.

This is a tiered bonus based on the amount you're able to deposit and maintain in your new account. $15,000 in new funds will earn you $300; $50,000 will earn you $700; or $200,000 will earn you the full $1,500.

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 $300 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 $1500
Account Type
Personal Checking
Expires In
13 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
88 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
16 days
Requires
  • Direct Deposit
Apply Now

at Chase

or, read the full requirements

U.S. Bank

Personal Checking

Personal Checking: $300 bonus offer

Available nationwide with the ability to open online, U.S. Bank is offering a $300 welcome bonus when you open any new personal checking account (excluding Student and Safe Debit accounts).

This offer is less than the $400 they've offered in the past, but the requirements are also lower (from $5,000 in direct deposits to $4,000, and no debit card spend requirement) and the promotion now applies to more account types.

Bonus
$300
Account Type
Personal Checking
Expires In
1 day
Requires
  • Direct Deposit
Apply Now

at U.S. Bank

or, read the full requirements

Wells Fargo

Personal Checking

Personal Checking: $300 bonus offer

Wells Fargo is offering new personal checking account customers a $300 bonus.

To be eligible, you'll first need to open a new Clear Access Banking℠, Everyday Checking, Prime Checking, or Premier Checking account, and then you'll have 3 months to receive $1,000 in direct deposits in order to qualify for the promo.

This is a pretty easy bonus that's available nationally without restriction. Plus, the deposit requirement has been cut in half (from $2,000 to $1,000), and the reward amount bumped up: from the $200 offered last year to the $300 now. Can't complain about that!

Keep in mind that this is their public offer. Wells Fargo is also targeting some customers with higher amounts (we've seen up to $400). Up to you whether it makes sense to wait for a targeted offer (if it comes), or to take advantage of this one.

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

at Wells Fargo

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
58 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
95 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
119 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
180 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
73 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
180 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

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
10 days
Requires
  • Min Balance
Apply Now

at J.P. Morgan

or, read the full requirements

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 transfer 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
88 days
Requires
  • Min Balance
Apply Now

at Ally

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

Acorns

Acorns Invest [Referral Program]

Acorns Invest [Referral Program]: $1000 bonus offer

Every week, Acorns reintroduces its referral bonus, which gives you cash for referring friends to the FinTech. This week, Acorns is again offering a $1,000 bonus when you refer 4 friends who open a new Invest account and make their first investment. This is one of the highest we've seen!

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 $5 referral bonus, for additional earnings.

Bonus
$1000
Account Type
Investment
Expires In
5 days
Requires
  • Open an Account
Apply Now

at Acorns

or, read the full requirements

Citi

Citi® Self Invest

Citi® Self Invest: up to $500 bonus offer

Available nationwide to new and existing customers, Citi is offering up to a $500 bonus when you add new-to-Citi funds to a Citi® Self Invest account.

As is typical with Citi promotions, this is a tiered offer: the more you add, the more you earn. You'll need to deposit at least $10,000 to earn a $100 reward, or at least $200,000 to receive the full $500.

You'll need to also maintain your funds through a date defined in the table below:

Month opened/new funds addedFunding periodMaintain Funds Through
March 202203/1/2022 - 04/30/202205/31/2022
April 202204/1/2022 - 05/31/202206/30/2022
May 202205/1/2022 - 06/30/202207/31/2022
June 202206/1/2022 - 07/31/202208/31/2022
Bonus
up to $500
Account Type
Investment
Expires In
27 days
Requires
  • Min Balance
Apply Now

at Citi

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
58 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
17 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
88 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
3 days
Requires
  • Min Balance
Apply Now

at Huntington

or, read the full requirements

U.S. Bank

Business Checking

Business Checking: $300 bonus offer

Available nationwide if you already have a relationship with U.S. Bank or in any of the 26 states in which they operate in if you don't, U.S. Bank is offering a $300 welcome bonus when you open a new business checking account and deposit new money. The minimum deposit requirement has nearly halved since the last time it was offered. You can open the account online; however, you must use the promo code when applying to receive the bonus.

Bonus
$300
Account Type
Business Checking
Expires In
25 days
Requires
  • Min Balance
Apply Now

at U.S. Bank

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
88 days
Requires
  • Min Balance
Apply Now

at Axos

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

406 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 406 bank promotions that will give you cash for opening a new account right now:

1. Citi Priority - up to $1500 bonus

Available nationwide with the ability to open online, Citi is offering up to a $1,500 cash bonus when you open a new Citi Priority Account.

This is a tiered bonus based on the amount you're able to deposit and maintain in your new account. $15,000 in new funds will earn you $300; $50,000 will earn you $700; or $200,000 will earn you the full $1,500.

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 $300 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.

Citi : Citi Priority Account

Bonus Amount
up to $1500
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
July 17, 2022
Bonus Requirements
  1. Open a new Citi Priority Account using the link below.
  2. Within 20 days, deposit $15,000 into your new account to earn $300, $50,000 to earn $700, or $200,000 to earn $1,500.
  3. Maintain that balance for 60 days or more after the 21st day that the account was opened.
  4. Bonus will be credited to your open, eligible account within 90 calendar days after completing the requirements.

2. Fifth Third Bank Personal Checking - $375 bonus

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.

Fifth Third Bank : Personal Checking

Bonus Amount
$375
Account Type
Personal Checking
Availability
FL, GA, IL, IN, KY, MI, NC, OH, SC, TN, WV
Offer Expires
September 30, 2022
Bonus Requirements
  1. Open a new Momentum® Checking or Preferred checking account using the link below.
  2. Within 90 days, receive $500 in direct deposits.
  3. Bonus will be credited to your new account within 10 business days of meeting the requirements.
Apply Now

at Fifth Third Bank

3. J.P. Morgan Self-Directed Investing - up to $625 bonus

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.

J.P. Morgan Wealth Management : Self-Directed Investing

Bonus Amount
up to $625
Account Type
Investment
Availability
Nationwide
Offer Expires
July 14, 2022
Bonus Requirements
  1. Open a J.P. Morgan Self-Directed Investing account using the link below.
  2. Within 45 days, fund your account with qualifying new money; $25,000 - $99,999 = $125 bonus; $100,000 - $249,999 = $300 bonus, $250,000 = $625 bonus.
  3. Your bonus amount will be determined on day 45.
  4. Maintain your new funds for 90 days (losses due to trading or market fluctuation will not be taken into account).
  5. Bonus will be received within 15 days.
  6. INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Apply Now

at J.P. Morgan

4. Chase Total Checking® - $200 bonus

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!

Chase Bank : Chase Total Checking®

Bonus Amount
$200
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
July 20, 2022
Bonus Requirements
  1. Open a Chase Total Checking® account.
  2. Within 90 days, have a direct deposit made from either your employer (paycheck or pension) or the government (any benefit such as Social Security).
  3. Receive your money within 15 days of the deposit posting.

5. Chase Business Complete Banking℠ - $300 bonus

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.

Chase Bank : Chase Business Complete Banking℠

Bonus Amount
$300
Account Type
Business Checking
Availability
Nationwide
Offer Expires
July 21, 2022
Bonus Requirements
  1. Open a new Chase Business Complete Banking℠ account using the link below.
  2. Within 30 days, deposit at least $2,000 and maintain that balance for 60 days.
  3. 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.
  4. Bonus will be credited to your account within 15 days of meeting the requirements.

6. Ally Invest - up to $3000 bonus

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 transfer 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

Ally Bank : Ally Invest

Bonus Amount
up to $3000
Account Type
Investment
Availability
Nationwide
Offer Expires
September 30, 2022
Bonus Requirements
  1. Open a new self-directed Ally Invest account using the link below.
  2. Within 60 days, deposit $10K to earn $100; $25K to earn $250; $100k to earn $300; $250K to earn $600; $500K to earn $1,200; $1M to earn $2k; or $2M to earn $3,000.
  3. Maintain that balance (including the bonus) for 300 days.
  4. Accounts will be reviewed 60 days after opening, and corresponding bonus will be credited to the account within 10 business days.

7. Tradestation Securities or Crypto - up to $150 bonus

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.

Tradestation : Securities or Crypto Account

Bonus Amount
up to $150
Account Type
Investment
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new account with promo code TSTVAFYB.
  2. To earn $150 in Bitcoin, purchase or deposit at least $500 of supported cryptocurrency assets within 45 calendar days of account enrollment.
  3. To earn $150 cash, deposit at least $500 into your account within 45 calendar days of account enrollment.
  4. Maintain balance through the end of the next full month following the account funding date to earn the first $75 bonus.
  5. Maintain balance through the end of the second full month following the account funding date to earn the second $75 bonus.
Apply Now

at Tradestation

8. Axos Business Interest Checking - up to $200 bonus

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.

Axos Bank : Business Interest Checking

Bonus Amount
up to $200
Account Type
Business Checking
Availability
Nationwide
Offer Expires
September 30, 2022
Bonus Requirements
  1. Open a new Business Interest Checking account from Axos Bank using promo code NEWBIZ200 (or NEWAXOSBIZ for older companies).
  2. In the first two months after account opening, maintain an average daily balance of at least $2,500.
  3. Bonus will be deposited into your new account within 5 business days of your statement cycle date.

9. Aspiration Zero - $300 bonus

Aspiration recently launched their "carbon-neutral" credit card, coined Aspiration Zero, which aims to fight climate change with every swipe.

To further motivate customers to adopt the card, Aspiration is offering a $300 welcome bonus when you spend $3,000 on your new card within the first 3 months.

This is in addition to their typical rewards structure, which gives you 1% cash back each month you get to carbon zero.

Aspiration : Aspiration Zero

Bonus Amount
$300
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
September 30, 2022
Bonus Requirements
  1. Open a new Aspiration Zero credit card.
  2. Within the first 3 months, spend $3,000 using your new card.
  3. Bonus will be applied as a statement credit on the next billing cycle after meeting the requirement.

10. Aspiration Plus - $200 bonus

Aspiration is offering a $200 bonus when you open one of their Aspiration Plus accounts and then spend at least $1,000 using your debit card.

The Plus account comes with some extra perks – including higher cash back and higher interest on your savings – but if you're looking for a free account to try first, they're also offering a $150 bonus for opening a basic Aspiration account (with the same requirements). With that account, you pay what you think is fair, even if it's $0.

Aspiration : Aspiration Plus

Bonus Amount
$200
Account Type
Cash
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open an Aspiration Plus account using the link below.
  2. Fund the account with at least $10.
  3. Within 60 days, make at least $1,000 in cumulative debit card purchases.
  4. The bonus will post to your account within 120 calendar days from account opening.

11. NorthOne Business Banking - $10 bonus

Like other neobanks, NorthOne seeks to leverage tech to disrupt the business banking status quo. While most business accounts from the big-brand banks have transaction limits that force you to upgrade to premium accounts as your company grows (read: higher monthly fees), NorthOne charges a flat $10 per month and then no additional fees for ACH payments, deposits, transfers, purchases, or app integrations.

Currently, they're running a business checking account promotion exclusive to BankBonus.com readers: 1-month FREE to try their Business Banking account.

There's no catch and no additional requirements – just sign up using our link, fund your account with any amount and your first month's fee will be waived.

NorthOne : Business Banking

Bonus Amount
$10
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Sign up using our link below.
  2. Fund your account with any amount.
  3. Your first month's fee will be waived.

12. CIT Money Market - 1-Year Amazon Prime ($139) bonus

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.

CIT Bank : Money Market Account

Bonus Amount
1-Year Amazon Prime ($139)
Account Type
Mma
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a CIT Bank Money Market account using promo code "AMZN22".
  2. Within 15 days, fund your account with at least $15,000.
  3. For the 60 days following the the 15 day funding period, keep a minimum balance of at least $15,000.
  4. CIT will email you your Prime membership code within 30 days if you’ve fulfilled the requirements.

13. Bluevine Business Checking - 1.50% APY

Bluevine has a commitment to offering the highest APY on a business checking account. The high-yield is available on all balances up to 100,000.

There's no opening deposit minimum or ongoing balance requirements, and there are no monthly fees associated with this account which make this truly an ultra-competitive deal.

Rest assured, if you sign up for Bluevine, you will continue to have the highest rates even as the markets change.

Bluevine : Business Checking

Bonus Amount
1.50% APY
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new Bluevine Business Checking account using the link below.
  2. Transfer money in from another source.
  3. Spend $500 per month with BlueVine Business Debit.
  4. Receive $2,500 per month in customer payments into BlueVine Business Checking account via ACH, wire transfer, mobile check deposit, or directly from merchant payment processing provider.
  5. Interest compounds daily and will be credited to your account each month the requirements are met.

14. Ando Checking - $25 bonus

When we setup our Ando Money checking account we were prompted for a $25 bonus to setup direct deposit. This is easy money!

Ando Money $25 direct deposit bonus screenshot

Ando Money : Ando Checking

Bonus Amount
$25
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Setup a new Ando Money checking (spend) account.
  2. During the setup process elect to setup direct deposit for a $25 bonus. If you do not receive the prompt, try declining to link an account first, then proceed.

15. Juno Metal Checking - $100 bonus

OnJuno is offering a $100 welcome bonus when you open a new checking account and connect your direct deposit. This is up from their $50 signup bonus offered previously. What's even more? As long as you maintain your direct deposit of at least $250, you'll be automatically enrolled in their Metal Checking account at no fee for added perks; otherwise, they'll bump you down to basic.

Still want more? Metal users can also earn up to $300 in cashback each year on spend with their card ($25 for basic users) and yearly bonuses determined by their balance amount.

Juno : Metal Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Limited Time
Bonus Requirements
  1. Open a new OnJuno account at the link below.
  2. Complete your first direct deposit of $250 or more.
  3. Bonus will be transferred to your OnJuno account after completing the requirements.

16. Citi Business Checking - up to $2000 bonus

Renewed for 2022, CitiBusiness if offering up to $2,000 when you open a new business checking account in-branch and make a minimum deposit within 30 days.

This is a tiered offer, where the more you deposit the more you earn (starting at a $200 bonus for $5,000, up to the full $2,000 for depositing a cumulative $200,000).

If you have the cash and live close to a physical branch, this is a solid welcome bonus. The lowest tier represents a 12% effective rate on your savings – not bad!

Branches currently located in the following metropolitan areas: Los Angeles (CA), Orange County (CA), Riverside (CA), San Diego (CA), San Francisco (CA), Miami (FL), Chicago (IL), Baltimore (MD), Las Vegas (NV), New York City (NY), and Washington, DC.

Citi : Business Checking Account

Bonus Amount
up to $2000
Account Type
Business Checking
Availability
Nationwide
Offer Expires
July 5, 2022
Bonus Requirements
  1. Open a new Citibank business checking account in-branch.
  2. Within 30 days, deposit $5,000 to earn $200, $15,000 to earn $500, $25,000 to earn $700, $50,000 to earn $1,000, $100,000 to earn $1,500, or $200,000 to earn $2,000.
  3. Maintain that balance for 60 days.
  4. The bonus will be credited to your business checking account within 90 days from the end of the month in which you complete the requirements.

17. U.S. Bank Personal Checking - $300 bonus

Available nationwide with the ability to open online, U.S. Bank is offering a $300 welcome bonus when you open any new personal checking account (excluding Student and Safe Debit accounts).

This offer is less than the $400 they've offered in the past, but the requirements are also lower (from $5,000 in direct deposits to $4,000, and no debit card spend requirement) and the promotion now applies to more account types.

U.S. Bank : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
July 5, 2022
Bonus Requirements
  1. Open a Platinum, Gold, or Easy Checking account using the promo code 22WEB06.
  2. Enroll in online banking or the mobile app.
  3. Within 60 days, complete 2 or more recurring direct deposits totaling $4,000.
  4. Bonus will be credited to your account within 60 days of meeting requirements.

18. Amex Hilton Honors American Express Card - 100,000 bonus points

The Hilton Honors American Express Card comes with a new cardmember offer that can see you earn 100,000 Hilton Honors bonus points after spending $1,000 in the first three months. Plus, you can earn up to $100 in statement credits on eligible purchases made at any of the Hilton family hotels in the first 12 months.

This is in addition to the $0 annual fee, the solid reward categories, and the card's other perks. This is solid deal on this card compared to recent offers.

American Express : Hilton Honors American Express Card

Bonus Amount
100,000 Points
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
July 6, 2022
Bonus Requirements
  1. Apply for a new Hilton Honors American Express Card using the link below.
  2. Within 3 months, spend $1,000 using your new card.
  3. Bonus will be credited within 8-12 weeks of meeting the requirements in the form of Hilton Honors points.

19. Santander Bank Personal Checking - up to $500 bonus

Available in select states with the ability to open online, Santander Bank is offering up to a $500 welcome bonus when you open a new Santander personal checking account and set up direct deposit.

Keep in mind that you'll need to enter your information (name and email address) on the promo's landing page in order to receive your unique code, which you'll then use on the online application to enroll in the promotion.

A heads up to Florida residents that this promotion is limited to certain zips within Miami-Dade, Monroe, and Broward counties. Fortunately, the fine print says that outside of these counties, "the offer is not available for redemption online", so you may still have luck in-branch.

Santander Bank : Personal Checking

Bonus Amount
up to $500
Account Type
Personal Checking
Availability
FL, NH, MA, RI, CT, DE, NY, NJ, PA, FL
Offer Expires
July 6, 2022
Bonus Requirements
  1. Open a new Santander personal checking account using the link below.
  2. Within the first 90 days, make direct deposits totaling at least $4,000 to earn $300, $6,000 to earn $400, or $8,000 to earn $500.
  3. Bonus will be paid within 30 days of the initial 90 day period.
Apply Now

at Santander Bank

20. Santander Bank Business Checking - up to $550 bonus

Santander Bank has upped the ante, again offering new business checking account customers a bonus for opening a new Business Checking or Business Checking Plus account.

This time around, however, it's up to $550 as they've added a new balance tier of $15,000 to earn the maximum amount.

Like before, the balance requirement is based on an average daily balance. That means you don't necessarily need to deposit $5/10/15,000 on day one, but the longer you wait to make a deposit, the higher the deposit needs to be in order to average out. They provide more details in the fine print!

Keep in mind that, like most business accounts, you'll need to go in-branch to open. Be sure to mention the promo BUS550Q222 to enroll in the offer.

Santander Bank : Business Checking

Bonus Amount
up to $550
Account Type
Business Checking
Availability
CT, DE, FL, MA, NH, NJ, NY, PA, RI
Offer Expires
July 6, 2022
Bonus Requirements
  1. Open a new Business Checking or Business Checking Plus account using the promo code BUS550Q222.
  2. For 90 days, maintain an average daily balance of $5,000 to earn $350 bonus, $10,000 to earn $450 bonus or $15,000+ to earn $550.
  3. Keep your account open for at least 90 days.
  4. Bonus will be paid within 30 days of the meeting the requirements.
Apply Now

at Santander Bank

21. Huntington Unlimited Business Checking - $400 bonus

Huntington is offering a welcome bonus to those opening new business checking accounts. This one offers $400 for a $5,000 deposit. They're also running $100 and $1000 offers for $2,000 and $20,000 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!

Huntington National Bank : Unlimited Business Checking

Bonus Amount
$400
Account Type
Business Checking
Availability
OH, MI, IN, PA, KY, WV, IL
Offer Expires
July 7, 2022
Bonus Requirements
  1. Open a new Unlimited Business Checking account using the link below.
  2. Within 60 days, make deposits totaling $5,000.
  3. Keep the account open for at least 90 days.
  4. Bonus will be deposited to your new account within 14 days of meeting the requirements.

22. Huntington Unlimited Plus Business Checking - $750 bonus

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!

Huntington National Bank : Unlimited Plus Business Checking

Bonus Amount
$750
Account Type
Business Checking
Availability
OH, MI, IN, PA, KY, WV, IL
Offer Expires
July 7, 2022
Bonus Requirements
  1. Open a new Unlimited Plus Business Checking account using the link below.
  2. Within 60 days, make deposits totaling $20,000.
  3. Keep the account open for at least 90 days.
  4. Bonus will be deposited to your new account within 14 days of meeting the requirements.

23. Huntington Business Checking 100 - $100 bonus

Huntington is offering a welcome bonus to those opening new business checking accounts. This one offers $100 for a $2,000 deposit.

In this iteration of the promotion, Huntington actually decreased the reward amount for this tier – from $200 down to $100 – while keeping the requirement the same. On the flip side, their highest offer actually increased from $750 to $1,000.

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!

Huntington National Bank : Business Checking 100

Bonus Amount
$100
Account Type
Business Checking
Availability
OH, MI, IN, PA, KY, WV, IL
Offer Expires
July 7, 2022
Bonus Requirements
  1. Open a new Business Checking 100 account using the link below.
  2. Within 60 days, make deposits totaling $2,000.
  3. Keep the account open for at least 90 days.
  4. Bonus will be deposited to your new account within 14 days of meeting the requirements.

24. Acorns Invest - $1000 bonus

Every week, Acorns reintroduces its referral bonus, which gives you cash for referring friends to the FinTech. This week, Acorns is again offering a $1,000 bonus when you refer 4 friends who open a new Invest account and make their first investment. This is one of the highest we've seen!

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 $5 referral bonus, for additional earnings.

Acorns : Acorns Invest [Referral Program]

Bonus Amount
$1000
Account Type
Investment
Availability
Nationwide
Offer Expires
July 9, 2022
Bonus Requirements
  1. If you do not already have an Acorns Invest account, create one using the link below.
  2. Refer 4 friends using your personal referral link during the promo period, and ensure they make their first investment during this time.
  3. Bonus will be deposited within 14 days of promotional period ending.

25. Truist Personal Checking - $300 bonus

Truist, hot on the heals of their merger between SunTrust and BB&T, has a very solid offer for a new checking account. Available mostly along the East Coast and Southern states with the ability to open online, Truist is offering a $300 welcome bonus when you open a new personal checking account and set up direct deposit. This is down from their most recent and inaugural offer of $500, but they've also lowered the direct deposit amount required.

Truist Bank : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV, DC
Offer Expires
July 14, 2022
Bonus Requirements
  1. Open a new personal checking account online or in-branch using promo code TR2CHK22.
  2. Within 90 days of account opening, complete two qualifying direct deposits totaling $500 or more.
  3. The reward will be deposited into the new checking account within 4 weeks of verifying the Direct Deposit qualification requirement.

26. KeyBank Personal Checking - $200 bonus

KeyBank is back with their personal checking bonus, offering $200 to new checking account customers.

You can opt into any of their four eligible accounts (Key Smart Checking has no monthly fee; the others have waivable fees!). Regardless of which you choose, you'll need to make a single direct deposit of at least $500.

While this isn't quite nationwide, the bonus has a wide footprint and is redeemable online. Check it out!

KeyBank : Personal Checking Account

Bonus Amount
$200
Account Type
Personal Checking
Availability
AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, WA
Offer Expires
July 15, 2022
Bonus Requirements
  1. Open a new KeyBank checking account using the promo code ONAS0622.
  2. Within 60 days, make one direct deposit of at least $500.
  3. Bonus will be credited to your account within 90 days of meeting requirements.

27. Wells Fargo Personal Checking - $200 bonus

Wells Fargo is offering new checking account customers $200. You'll have 3 months to receive $1,000 in direct deposits in order to qualify for the promo.

This is a pretty easy bonus that's available nationally without restriction, and the deposit amount has been cut in half (from $2,000 requirement to $1,000). It's also $100 higher than when it was last offered end of last year.

However, they're currently running the exact same deal but with a $300 payout, so we obviously recommend opting for that one while it's available.

Keep in mind that both of these represent Wells Fargo's public offer. The bank is also targeting some customers with higher amounts (up to $400). Up to you whether it makes sense to wait for a targeted offer (if it comes), or to take advantage of a readily available one.

Wells Fargo Bank : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
July 15, 2022
Bonus Requirements
  1. Open a new personal checking account using the link below.
  2. Within 90 days, receive direct deposits totaling $1,000.
  3. Bonus will be deposited into your account within 30 days of the 90-day qualification period.
Apply Now

at Wells Fargo

28. Arvest Bank Personal Checking - up to $150 bonus

Arvest Bank is targeting some potential customers with an offer to earn up to a $150 welcome bonus when you open a new checking account.

Assuming you receive one of the mailers, you'll first need to open a new Arvest Free Blue™, Basic Blue™, myBlue®, Arvest Club, Preferred Club, or Bright Solutions™ checking account. Then, you'll have 6 months to earn up to three $50 monthly bonuses – for a potential total of $150 – for making eight debit card purchases and having at least one direct deposit, ACH, or recurring debit card transaction post to your account.

Arvest Bank : Personal Checking

Bonus Amount
up to $150
Account Type
Personal Checking
Availability
AR, MO, OK, KS
Offer Expires
July 15, 2022
Bonus Requirements
  1. Receive targeted "Get 150" mailer.
  2. Open a personal checking account at Arvest with a minimum $50 deposit.
  3. Within 6 statement cycles, each time you 1) Complete a direct deposit OR ACH OR recurring debit card transaction on your account AND 2) Make 8 debit card purchases within a full statement cycle, you'll earn a $50 bonus.
  4. Bonuses will be deposited at the end of each statement cycle in which they were earned.
Apply Now

at Arvest Bank

29. Wells Fargo Personal Checking - $300 bonus

Wells Fargo is offering new personal checking account customers a $300 bonus.

To be eligible, you'll first need to open a new Clear Access Banking℠, Everyday Checking, Prime Checking, or Premier Checking account, and then you'll have 3 months to receive $1,000 in direct deposits in order to qualify for the promo.

This is a pretty easy bonus that's available nationally without restriction. Plus, the deposit requirement has been cut in half (from $2,000 to $1,000), and the reward amount bumped up: from the $200 offered last year to the $300 now. Can't complain about that!

Keep in mind that this is their public offer. Wells Fargo is also targeting some customers with higher amounts (we've seen up to $400). Up to you whether it makes sense to wait for a targeted offer (if it comes), or to take advantage of this one.

Wells Fargo Bank : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
July 15, 2022
Bonus Requirements
  1. Open a new personal checking account using the link below with a minimum opening deposit of $25.
  2. Within 90 days, receive direct deposits totaling $1,000.
  3. Bonus will be deposited into your account within 30 days of the 90-day qualification period.
Apply Now

at Wells Fargo

30. Independent Bank ONE - $200 bonus

Independent Bank is offering $200 to customers who open a new ONE Account and connect their direct deposits. They are looking for active customers, so you'll also need to use your debit card to earn the bonus. Previously this was a tiered bonus that allowed you to earn smaller bonuses for optionally completing activities independently; however, this one is an all or nothing deal.

Tip: Independent Bank also offers $50 for every friend you refer to the bank, up to $500. So you can potentially earn $700!

Independent Bank : ONE Account

Bonus Amount
$200
Account Type
Personal Checking
Availability
MI
Offer Expires
July 15, 2022
Bonus Requirements
  1. Become a new customer at Independent Bank and open a new ONE account online or in-branch.
  2. Within 60 calendar days of account opening, use your debit card 20 times.
  3. During the same 60 days, complete 4 direct deposits of $100 or more.
  4. Bonus is paid out within 60 calendar days of qualification.
Apply Now

at Independent Bank

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.