Best Bank Promotions and Bonus Offers – November 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 account or savings account.

Really?

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

Banks With Sign Up Bonuses

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

428 Top Bank Promotions and New Account Offers

These are the best bank promotions and bonus offers that are active right now.

Our extensive list includes cash bonuses for opening everything from a new checking account or high-yield savings account, to a new credit card or brokerage account.

Filters:

Public Service Credit Union : Smart Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
IN
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Smart Checking account using the promo code GIVEME$100.
  2. Within 60 days, set up direct deposit (or open a loan or credit card).
  3. Bonus deposited within 60 days of meeting requirements.

OneWest Bank : Personal Checking

Bonus Amount
$150
Account Type
Personal Checking
Availability
CA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Personal Checking account with $500 minimum deposit in new money.
  2. Maintain an average balance of $500 for 90 days.
  3. Do any 3 of the following: 1) Receive recurring ACH or direct deposits totaling $650 or more per calendar month for at least 2 consecutive months, 2) Within the first 15 days, enroll in eStatements, 3) Make 8 or more debit card purchases of $10 or higher, 4) Use a OneWest Bank ATM 6 or more times, 5) Complete at least 2 bill payments, 6) Make at least 2 mobile check deposits of $100 or more.
  4. Bonus will be paid within 60 days after the requirements are met.

Heritage Credit Union : Simply Free Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
IL, WI
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Simply Free checking account using the promo code 100CHECKWEB.
  2. Within 30 days, set up a direct deposit of $100.
  3. Bonus will be credited to your account within 30 days of the direct deposit.

OneWest Bank : Premium Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
CA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Personal Checking account with $2,000 minimum deposit in new money.
  2. Maintain an average balance of $2,000 for 90 days.
  3. Do any 3 of the following: 1) Receive recurring ACH or direct deposits totaling $650 or more per calendar month for at least 2 consecutive months, 2) Within the first 15 days, enroll in eStatements, 3) Make 8 or more debit card purchases of $10 or higher, 4) Use a OneWest Bank ATM 6 or more times, 5) Complete at least 2 bill payments, 6) Make at least 2 mobile check deposits of $100 or more.
  4. Bonus will be paid within 60 days after the requirements are met.

OneWest Bank : OneAccount Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
CA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Personal Checking account with $10,000 minimum deposit in new money.
  2. Maintain an average balance of $10,000 for 90 days.
  3. Do any 3 of the following: 1) Receive recurring ACH or direct deposits totaling $650 or more per calendar month for at least 2 consecutive months, 2) Within the first 15 days, enroll in eStatements, 3) Make 8 or more debit card purchases of $10 or higher, 4) Use a OneWest Bank ATM 6 or more times, 5) Complete at least 2 bill payments, 6) Make at least 2 mobile check deposits of $100 or more.
  4. Bonus will be paid within 60 days after the requirements are met.

Wheaton Bank & Trust : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Total Access Checking account.
  2. Make direct deposits totaling at least $500.00 each month for 2 consecutive calendar months following the calendar month your new account was opened.
  3. During the same time period, enroll in online banking and eStatements.
  4. Bonus will be deposited within 30 calendar days.

Rockland Trust Bank : Business Checking

Bonus Amount
$300
Account Type
Business Checking
Availability
MA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new business checking account at one of the Worcester branches.
  2. Fund the account with $1,000 in new money.
  3. Bonus will be deposited to your account by March 31, 2022.

S&T Bank : Basic Business Checking

Bonus Amount
up to $600
Account Type
Business Checking
Availability
OH, PA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Basic Business Checking account using the link below.
  2. Within 5 days, deposit $1,000 and maintain this balance through 01/01/2022.
  3. Apply, receive and activate a debit card to earn $300.
  4. To earn an additional $300, also open a new S&T payment processing account through Elavon and accept payments by Dec 31.
  5. Bonuses will be credited to your account on February 11, 2022.

Ent Credit Union : No Strings Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
CO
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the promo code CH200A.
  2. Within 30 days, deposit $100.
  3. During the same time period, activate your debit card.
  4. Bonus will be credited into your primary Ent Savings account within 2 business days after meeting the requirements.

Altra Federal Credit Union : Personal Checking

Bonus Amount
$150
Account Type
Personal Checking
Availability
CO, MN, NJ, TN, TX, WI
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new A+ Checking or A+ Platinum Checking using the promo code RPSD_A+150.
  2. Within 30 days, make ten debit card purchases.
  3. Bonus will be deposited into your new checking account within 30 business days of meeting the requirements.

Hancock Whitney Bank : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
AL, FL, LA, MO, TX
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Enter your email address on the offer page linked below.
  2. Take your emailed offer code into a Hancock Whitney branch or apply online to open a new personal checking account before December 31.
  3. By February 28, 2022, receive a direct deposit of $250.
  4. Bonus will be credited to your account within 6 weeks after the qualification period.

Rockland Trust Bank : Personal Checking [Worcester Branch]

Bonus Amount
$250
Account Type
Personal Checking
Availability
MA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking account at one of Rockland Trust's Worcester branches.
  2. Within 60 days, make 20 debit card purchases of $10 each.
  3. The bonus will be paid directly to your account by March, 2022.

Spiral Financial : Spiral Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Have an existing Spiral checking account.
  2. Make a direct deposits of at least $1,000 for 2 consecutive months.
  3. Bonus will be deposited to your checking account no later than 30 days from the last day of the second consecutive month in which the recurring direct deposits were received.

PyraMax Bank : Simply Cash Back Checking

Bonus Amount
20,000 Points
Account Type
Personal Checking
Availability
WI
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Simply Cash Back Checking account using promo code POINTS.
  2. For the first 90 days, make a direct deposit of at least $500 in each statement cycle.
  3. Within 60 days, complete 5 debit card purchases.
  4. Bonus will be credited to your uChoose Rewards account in the form of 20,000 reward points, which can be redeemed for $200 cash.

First National Bank of Pennsylvania : Penguins® Power Play Package

Bonus Amount
up to $400
Account Type
Penguins® Power Play Package
Availability
MD, NC, OH, PA, SC, WV, DC
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new checking account using the promo code PEN4000121.
  2. Within 90 days, receive direct deposits totaling $1,500 to earn $150 or $2,500 to earn $250.
  3. Within the same 90 days, make 10 online bill payments to earn an additional $150.
  4. The bonus will be credited to your account within 15 business days of the 90-day qualification period.

Tastyworks : Investment Account

Bonus Amount
$500
Account Type
Investment
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Be a new Tastyworks customer.
  2. Open a new brokerage account using promocode "GIVE_ME_FIVE_2021". (IRA and Trust accounts are not eligible)
  3. Make initial funding deposits totaling $10,000 or more.
  4. Bonus will be posted approximately 1 week from the time the initial deposits have settled.

1st United Credit Union : Rewards Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
CA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Be a new member to 1st United Credit Union.
  2. Open a new Rewards Checking account with promo code "FROSTING".
  3. Within 60 days, make 15 or more purchases on your debit card.
  4. Bonus will be credited by the 10th day of the following month after requirements are fulfilled.

PNC Bank : Business Checking Account

Bonus Amount
$200
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Business Checking or Business Checking Plus account.
  2. For 3 statement cycles, maintain an average balance of $5,000.
  3. During those same statement cycles, make 20 debit card purchases.
  4. Bonus will be deposited within 90 days of meeting the requirements.

PNC Bank : Enterprise Checking Account

Bonus Amount
$500
Account Type
Enterprise Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Treasury Enterprise Plan or Analysis Business Checking account.
  2. For 3 statement cycles, maintain a $30,000 balance.
  3. Bonus will be deposited within 90 days of meeting the requirements.

Frontwave Credit Union : Primary Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
CA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Become a member and open a new Frontwave Primary Checking account and Savings account in branch.
  2. Deposit a minimum of $100 into the checking account and $5 into the savings account at time of opening.
  3. Sign up for eStatements.
  4. Within 60 days, make at least 1 direct deposit of $250 or more into the checking or savings account.
  5. Bonus will be deposited within 120 days of completing the direct deposit.

Summary: Best Bank Promotions and Bonus Offers

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

Bank Bank Account Type Amount Expires Requirements
Chase Bank logo Chase Total Checking® Personal Checking $225 Jan 19 Direct Deposit Details
Citi logo Citi Priority Personal Checking up to $1500 Jan 4 Min Balance Details
Chase Bank logo Chase Business Complete Banking℠ Business Checking $300 Jan 20 Min Balance, Card Spend (optional) Details
Acorns logo Acorns Invest [Refer 5 Friends] Acorns Invest $600 Nov 27 Open an Account Details
Aspiration logo Aspiration Zero Personal Credit Card $300 Dec 31 Card Spend Details
Aspiration logo Aspiration Plus Cash $200 Limited Time Offer Card Spend Details
M1 Finance logo M1 Invest Investment up to $150 Nov 30 Min Balance Details
Axos Bank logo Axos Rewards Checking Personal Checking $100 Nov 30 Direct Deposit Details
Axos Bank logo Axos Self-Directed Trading Investment $150 Dec 31 Min Balance Details
Axos Bank logo Axos Self-Directed Trading Investment $100 Dec 31 Min Balance 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 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.

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.