Best Bank Promotions, Offers and Bonuses for October 2021

You’re probably familiar with the usual ways to earn money from your bank accounts, such as interest on your deposits, referral bonuses, and cashback rewards for spending.

These are all things you should be taking advantage of. But there’s also free money waiting for you in the form of bank bonuses, and all you have to do is open a new checking or savings bank account.

Really?

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

Best Bank Offers

Looking for a specific account type or requirement? We've got you covered.

380 Current Best Bank Bonuses and Promotions

Below is an extensive list of bank promotions and offers that are active right now.

These include rewards for opening everything from a new checking or savings account, to a new credit card or investment account.

Filters:

Citi : Citi Priority Account

Bonus Amount
up to $1500
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Jan 4, 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.

Chase Bank : Chase Total Checking®

Bonus Amount
$225
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Jan 19, 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.

Chase Bank : Chase Business Complete Banking℠

Bonus Amount
$300
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Jan 20, 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.

Aspiration : Aspiration Plus

Bonus Amount
$200
Account Type
Cash
Availability
Nationwide
Offer Expires
N/A
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.

NorthOne : Business Banking

Bonus Amount
$10
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Apr 22, 2022
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.

Citizens Bank : Personal Checking Account

Bonus Amount
up to $400
Account Type
Personal Checking
Availability
CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT
Offer Expires
Oct 28, 2021
Bonus Requirements
  1. Open a new checking account using the link below.
  2. Within 60 days, make a direct deposit of $500 to earn $300.
  3. Within the same 60 days, earn $2 for every debit card purchase you make, up to $100.
  4. Bonus will be deposited to your new checking account within 4 months of account opening.

U.S. Bank : Gold Business Checking

Bonus Amount
$750
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Oct 29, 2021
Bonus Requirements
  1. Open a new Gold Business Checking Package and a new Payment Solutions Merchant Account using the link below.
  2. Within 30 days, accept and settle a Payment Solutions transaction into your new checking account.
  3. The bonus will be credited to your checking account within 45 days.

PNC Bank : Virtual Wallet with Performance Select

Bonus Amount
$400
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a Virtual Wallet with Performance Select account using the link below.
  2. Within 60 days, have a total of $5,000 in direct deposits.
  3. Bonus will be credited to your account within 60-90 days after meeting requirements.

Chime Bank : Spending Account

Bonus Amount
$290
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new account with Chime using the link below.
  2. Within 30 days, receive a direct deposit of $200.
  3. Points will be credited to your MyPoints account within 60 days of meeting the requirements.

Monifi : Monifi Spend

Bonus Amount
$250
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new Monifi Spend account using the link below.
  2. Within 90 days, receive two direct deposits of $1,000 each.
  3. Bonus will be credited to your spend account within 45 days of meeting requirements.

TD Bank : Personal Savings Account

Bonus Amount
$200
Account Type
Personal Savings
Availability
CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
Offer Expires
Nov 30, 2021
Bonus Requirements
  1. Open a TD Savings account using the link below.
  2. Within 20 days, deposit $20,000 and maintain that balance for 90 days.
  3. Bonus will be credited to your new account no later than 140 days from the account opening.

Discover Bank : Online Savings Account

Bonus Amount
up to $200
Account Type
Personal Savings
Availability
Nationwide
Offer Expires
Dec 15, 2021
Bonus Requirements
  1. Open a new Discover Online Savings Account using the link below.
  2. By December 15, deposit $15,000 to earn $150 or $25,000 to earn $200.
  3. Bonus will be credited to your account within 30 days of qualifying for the bonus.

Acorns : Acorns Spend

Bonus Amount
$75
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Acorns Spend account using the link below.
  2. Within 45 days, receive 2 direct deposits of $250 each.
  3. Within 3 months of your first direct deposit, spend at least $500 using your debit card.
  4. The bonus will be invested as a lump sum in the form of a purchase of investments in your Acorns Invest account within 45 days.

Alliant Credit Union : Ultimate Opportunity Savings Account

Bonus Amount
$100
Account Type
Personal Savings
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Ultimate Opportunity Savings Account using the link below.
  2. For 12 consecutive months, deposit $100 each month.

Fifth Third Bank : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
FL, GA, IL, IN, KY, MI, NC, OH, SC, TN, WV
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Momentum® Checking or Preferred checking account using the link below.
  2. Within 60 days, receive $500 in direct deposits.
  3. Bonus will be credited to your new account within 10 business days of meeting the requirements.

Bask Bank : Bask Mileage Savings

Bonus Amount
1,000 Miles
Account Type
Personal Savings
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Bask Mileage Savings Account.
  2. Within 30 days, deposit $5,000 and then maintain that balance for 90 consecutive days.
  3. AAdvantage® bonus miles are awarded within 10 business days.

Bank of America : Advantage Banking Account

Bonus Amount
$100
Account Type
Advantage Banking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Bank of America Advantage Banking personal checking account using the link below.
  2. Within 90 days, receive two direct deposits of $250 or more.
  3. Bonus will be deposited directly into your account within 60 days of meeting the requirements.

Axos Bank : Business Interest Checking

Bonus Amount
$100
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Have a business incorporated after 06/01/2020.
  2. Open a new Business Interest Checking account.
  3. For the two months following account creation, maintain an average minimum daily balance of $2,500.
  4. Bonus will be deposited into your new account within 5 business days of your statement cycle date.

Affinity Federal Credit Union : Cash Back Debit

Bonus Amount
$150
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Cash Back Debit account using the link below.
  2. Within 30 days, set up a recurring direct deposit of $500 and receive that direct deposit every month for 3 consecutive months.
  3. Within that same 90 days, make 10 debit card purchases.
  4. Bonus will be credited to your new account 30 days after meeting the requirements.

Wells Fargo Bank : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
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.

Summary: Best Bank Promotions and Bonus Offers

Here’s a recap of the current best bank bonuses:

Bank Bank Account Type Amount Expires Requirements
Citi logo Citi Priority Personal Checking up to $1500 Jan 4 Min Balance Details
Chase Bank logo Chase Total Checking® Personal Checking $225 Jan 19 Direct Deposit Details
Chase Bank logo Chase Business Complete Banking℠ Business Checking $300 Jan 20 Min Balance, Card Spend (optional) Details
Aspiration logo Aspiration Plus Cash $200 N/A Card Spend Details
NorthOne logo NorthOne Business Banking Business Checking $10 Apr 22 Open an Account Details
Citizens Bank logo Citizens Personal Checking Personal Checking up to $400 Oct 28 Direct Deposit, Card Spend (optional) Details
U.S. Bank logo U.S. Bank Gold Business Checking Business Checking $750 Oct 29 Open an Account Details
PNC Bank logo PNC Virtual Wallet with Performance Select Personal Checking $400 Oct 31 Direct Deposit Details
Chime Bank logo Chime Spending Personal Checking $290 Oct 31 Direct Deposit Details
Monifi logo Monifi Spend Personal Checking $250 Oct 31 Direct Deposit Details

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 new account bonuses, which are financial incentives you can get for opening a new account and meeting certain terms and conditions.

These new account offers are a win-win for the bank and customer.

They’re attractive to customers because it’s free money. And for banks, it’s a prime opportunity to bring in new customers, who are likely to stay on board for many years down the road.

How can I qualify for a bank account bonus?

Typically, you’ll have to meet a minimum balance requirement for a period of consecutive months to qualify for the bonus.

This is required so that new customers don’t get the bonus and quickly close the account, which would result in a financial loss for the bank.

How are bonuses paid out?

Most of the time, it’s in the form of a cash bonus that the bank puts directly into your new account.

The bonus might also be handed out in other forms, such as a Visa Gift Card or rewards points that you can use to make online purchases.

How much money can you get?

Sign-up bonuses typically range from a couple hundred to a thousand or more dollars, depending on the bank, how much money you deposit, or how “tough” the requirements are.

New account bonuses are typically seen in traditional checking accounts, but you can also find them with business checking accounts, money market accounts, savings accounts, credit cards, and investment accounts.

How To Get A Sign-Up Bonus

Keep an eye out for promotional materials for new bonus offers.

Banks are frequently sending these out over email, snail-mail, and through online and mobile app ads.

Chances are, you’ve come across more bank bonuses than you even realize.

And, just from having searched and found this article, there’s a strong chance that you’ll be retargeted for new account bonuses as you browse the internet.

What are the requirements?

Once you find a bank bonus that strikes your interest, the next step is reading the fine print.

It is very important to understand what’s going to be expected of you, because If you can’t meet those requirements, then what’s the point?

But, before you get your hands on any bonus money, you’ll probably have to fulfill some qualifying activities.

The specific requirements vary from bank to bank, but some of the most common include:

  • Meeting minimum deposit amounts (e.g., $500 to open the account)
  • Monthly direct deposit requirements (e.g., having your employer make one or two direct deposits to the account each month, for a period of three months)
  • Making a minimum amount of debit card purchases in your first statement cycle (e.g., six debit card purchases)

In addition to meeting the initial requirements, you also usually have to stay in good standing with the bank for a certain number of days of account opening (the first three months is pretty typical).

This means that you either have to maintain an average daily balance, an average monthly balance, a specified combined balance, or a minimum daily balance as required by the bank. Avoiding a negative balance is also key, so don’t overdraft your account!

The reason banks require your account to be in good standing is that when accounts are not in good standing, banks risk losing money.

With that in mind, a good rule of thumb is to avoid a negative balance and overdraft fees, especially during the bonus qualification period.

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

Keep in mind that bonuses are usually reserved for new customers, so opening a new checking account with your current bank probably won’t get you one.

What Do The Best Bonuses Look Like?

The bigger, the better, right?

Yes, and no. Bonus offers vary quite a bit, and it isn’t necessarily as simple as finding the biggest number and going after it.

New account bonuses are everywhere, but customers can most often expect to see them popping up at the bigger national banks, with Chase Bank promotions, Citibank promotions, and U.S. Bank promotions, being some of the most popular.

The best bonuses also have easy-to-reach requirements. For example, if the bank requires a $100,000 minimum opening deposit, most people wouldn’t qualify for that.

Another thing to watch out for is that if the bank charges monthly service fees, this could eventually wash out any bonus that you might get.

So, if you’re eyeing a $200 sign-up bonus, but then the bank plans to charge a $15 monthly maintenance fee, then your bonus gets washed out in about 13 months.

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

It’s also good to have overdraft protection, so you don’t get hit with any hefty overdraft fees.

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

Bank 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.

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

When it’s tax time, don’t forget to claim your checking account bonuses. Unlike credit card reward points, which are viewed by the IRS as purchase rebates, checking account bonuses are considered taxable income.

The good news is that, unlike applying for a new credit card, when you open a new bank account, there’s no impact on your credit score.

Finally, bank offers are often regional, so your friend in Michigan might see different ones than you’re getting in Kentucky — even if it’s with the same bank.

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

Bank Promotions FAQs

What banks give you a bonus for opening an 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 account bonuses. But you can also find sign-up rewards at your local community bank or credit union.

Whichever bank you decide to go with, make sure that it’s a member FDIC, which means that your deposits will be protected up to $250,000.

Are bank bonuses worth it?

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

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

Generally speaking, big national banks don’t offer the best interest rates on checking account deposits, so take that into account as well.

You also have to pay attention to any fees that might come with your new account.

Even if you’re opening a free checking account, there might be monthly maintenance fees or ATM fees that exceed the value of the bonus you’re trying to get.

Why do banks have promotions?

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

It’s no secret that banks make a lot of money off their customers in fees, interest and services.

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?

Every dollar deposited gives your bank about $10 of 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 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 bonuses. 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.

The Best Bank Bonus For You

The key is to think of a personal checking account bonus as, well, a bonus. It’s a nice-to-have.

What you shouldn’t do is open an account that’s a poor fit for your financial position just to chase some extra cash.

Instead, find exactly what it is that you’re looking for in a bank account. Then, narrow it down based on the offers of those that meet your needs.

The best bank account bonus for you is the one that makes the most sense for your financial situation and that doesn’t hit you with a ton of fees down the road.

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