348 Best Bank Bonuses and Promotions – January 2022

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

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

Really?

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

Best New Bank Promotions and Offers for January 2022

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

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

Filters:

PNC Bank : Virtual Wallet® with Performance Select

About This Bonus Offer

Available in 22 states plus the District of Columbia, PNC is kicking off the new year with a competitive welcome bonus for opening a personal checking account and using direct deposit within the first 2 months. This offer has the flexibility of being applied in-branch or online using the link below.

If the $5k in direct deposit is too high, they're also running a couple of smaller offers with lower deposit requirements.

Assuming you don't have an account with PNC (and haven't within the last 90 days), we definitely recommend grabbing this easy bonus.

Live in a state that doesn't have a branch? No worries, check out this Virtual Wallet® Pro $200 bonus by PNC.

Bonus Amount
$400
Account Type
Personal Checking
Availability
AZ, CA, TX, NM, CO, PA, FL, OH, WV, DE, NJ, SC, NC, GA, KY, IN, MI, IL, MD, DC, WV, WI
Offer Expires
Feb 28, 2022
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.

Chase Bank : Chase Total Checking®

About This Bonus Offer

Chase Total Checking® is the most popular account from one of the top national banks, and now Chase is offering new Total Checking® customers a $225 welcome bonus to sign up – up from their normal offer of $200.

The account is available nationwide with the ability to open online.

Assuming you qualify, 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 Amount
$225
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Apr 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.

Citi : Citi Priority Account

About This 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 Amount
up to $1500
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Jul 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.

Acorns : Acorns Invest [Refer 3 Friends]

About This Bonus Offer

Available nationwide, Acorns is offering a $600 bonus when you refer 3 friends who open a new Invest account and make their first deposit.

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 $600 bonus.

This offer will also stack with their regular $5 referral bonus, for additional earnings.

Bonus Amount
$600
Account Type
Acorns Invest
Availability
Nationwide
Offer Expires
Jan 22, 2022
Bonus Requirements
  1. If you do not already have an Acorns Invest account, create one using the link below.
  2. Refer 3 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 7 days of promotional period ending.

PNC Bank : Virtual Wallet® Checking Pro

About This Bonus Offer

Don't live in a state where PNC has a branch? No worries, PNC is offering a $200 bonus when you open a Virtual Wallet Checking Pro account, which is only available to customers outside their in-branch footprint. Just complete the direct deposit requirements within 60 days. If you're in any one of the following states, this bonus is for you: AR, CT, ID, IA, KS, LA, ME, MA, MN, MS, MT, NE, NV, NH, ND, OK, OR, RI, TN, UT, VT, WA, WY.

Bonus Amount
$200
Account Type
Personal Checking
Availability
AR, CT, ID, IA, KS, LA, ME, MA, MN, MS, MT, NE, NV, NH, ND, OK, OR, RI, TN, UT, VT, WA, WY
Offer Expires
Feb 28, 2022
Bonus Requirements
  1. Reside in a state that doesn't have a PNC branch.
  2. Open an account using the link below.
  3. Within 60 days, complete direct deposits totaling $2,000.
  4. Bonus will be deposited within 60-90 days after all conditions are met.

Aspiration : Aspiration Zero

About This Bonus Offer

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.

Bonus Amount
$300
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
Mar 31, 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.

Chase Bank : Chase Business Complete Banking℠

About This 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 Amount
$300
Account Type
Business Checking
Availability
Nationwide
Offer Expires
Apr 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.

Aspiration : Aspiration Plus

About This Bonus Offer

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.

Bonus Amount
$200
Account Type
Cash
Availability
Nationwide
Offer Expires
Limited Time Offer
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.

Chase Bank : J.P. Morgan Self-Directed Investing

About This Bonus Offer

Available nationwide with the ability to open online, Chase 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, and the highest offer that we've seen to-date. The more you deposit, the more you may be eligible to earn. They've also introduced a lower tier at $25,000, down from $100,000 previously!

Bonus Amount
up to $625
Account Type
Investment
Availability
Nationwide
Offer Expires
Apr 7, 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

NorthOne : Business Banking

About This Bonus Offer

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.

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.

Citi : Citigold® Checking Account

About This Bonus Offer

Citi has increased their offer this year, up from $700 in years past. They've also tiered the bonus, allowing you to earn smaller rewards for lower balance requirements (the Citigold® Account bonus used to require $200k to earn $700 – no other tiers were available).

If you're purposely keeping cash in a bank account, this is an easy way to put it to work. 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.

Tip: They're running this same deal on other accounts, too, like the Citi Priority Account.

Bonus Amount
up to $1500
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Jul 17, 2022
Bonus Requirements
  1. Open a new Citigold® Account using the link below.
  2. Within 20 days, deposit $15,000 - $49,999 into your new account to earn $300, $50,000 - $199,999 to earn $700, or $200,000+ to earn $1,500. *Must be New-to-Citi funds
  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.

BlockFi : BlockFi Interest Account

About This Bonus Offer

BlockFi is offering new customers a bonus of up to $250 in BTC when you sign up for a new Interest Account using our link. This is a tiered offer, where the amount you earn correlates with the amount that you deposit and maintain:

  • Tier 1 | Balance Maintained: $100 - $1,499: $15 in BTC
  • Tier 2 | Balance Maintained: $1,500 - $19,999: $20 in BTC
  • Tier 3 | Balance Maintained: $20,000 - $39,999: $40 in BTC
  • Tier 4 | Balance Maintained: $40,000 - $74,999: $75 in BTC
  • Tier 5 | Balance Maintained: $75,000 - $99,999: $100 in BTC
  • Tier 6 | Balance Maintained: $100,000+: $250 in BTC

Keep in mind that any withdrawals during the 2.5 month qualification period could affect your tier. So buy and hold!

Bonus Amount
up to $250
Account Type
Crypto Wallet
Availability
Nationwide
Offer Expires
Limited Time Offer
Bonus Requirements
  1. Open a new account using the link below.
  2. Before the 14th of the month you sign up, deposit $100 - $100,000+ in crypto, earning the reward that correlates with that tier ($15-$250).
  3. Maintain that balance for 2.5 months.
  4. Payouts occur on or before the second Friday of every month on a rolling basis, paid in BTC at the current market price.

U.S. Bank : Personal Checking Account

About This Bonus Offer

U.S. Bank is back with their tiered bonus up to $500 for opening a new checking account and making recurring direct deposits (at least 2). The reward depends on how much your direct deposits total: $2,500 to earn $300, or $5,000+ to earn the full $500.

With each iteration of this offer, U.S. Bank seems to raise the bar slightly. In Q3, there was a $100 tier for having direct deposits that totaled $1,000. In Q4, this promo only paid a max of $400 for $5,000 in direct deposits.

Still, this is a national bonus that is relatively easy to hit, so we definitely recommend taking advantage if you qualify.

Bonus Amount
up to $500
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Jan 24, 2022
Bonus Requirements
  1. Open a new U.S. Bank personal checking account using the promo code 2022JAN.
  2. Within 60 days, be enrolled in online banking or the U.S. Bank mobile app.
  3. Within the same 60 days, complete recurring direct deposits of 2 or more that total $2,500 to earn $300 or $5,000 to earn $500.
  4. Bonus will be deposited into your new account within 60 days of meeting requirements.

BMO Harris Bank : Personal Checking

About This Bonus Offer

BMO Harris Bank is giving you 3 months to accumulate $4,000 in direct deposits to earn a $200 welcome bonus for opening a new Smart Advantage™ or Smart Money™ checking account.

It's not available nationally, but if you're in one of the targeted states, you can open an account online to grab that cash.

Bonus Amount
$200
Account Type
Personal Checking
Availability
FL, IL, WI, MN, IN, AZ, KS, MO
Offer Expires
Jan 28, 2022
Bonus Requirements
  1. Open a new Smart Advantage™ or Smart Money™ account using the link below.
  2. Within 90 days, have a total of $4,000 in direct deposits.
  3. Bonus is credited directly to your checking account approximately 100 days after account opening.

KeyBank : Personal Checking Account

About This Bonus Offer

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!

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
Jan 28, 2022
Bonus Requirements
  1. Open a new KeyBank checking account using the promo code ONAS1221.
  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.

M&T Bank : Personal Checking Account

About This 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 Amount
$250
Account Type
Personal Checking
Availability
CT, DC, DE, MD, NJ, NY, PA, VA, WV
Offer Expires
Jan 28, 2022
Bonus Requirements
  1. Open a new M&T checking account using the link below.
  2. Within 90 days, make at least $500 in direct deposits.
  3. The bonus will be credited to your account within 90 days of all requirements being met.

Monifi : Monifi Spend

About This Bonus Offer

Monifi is offering a $250 bonus to Spend customers who set up direct deposits into their new Spend account. You'll need to be a relatively new Spend customer (account opened between January 1 and January 31), but you don't need to have opted into the bonus at account opening to qualify.

They recently increased this reward to the $250 offer – it had been $200 (and $100 before that), with the same requirements.

Bonus Amount
$250
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Jan 31, 2022
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.

Huntington National Bank : Huntington 5 Checking®

About This 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 Amount
$200
Account Type
Personal Checking
Availability
OH, MI, IN, PA, KY, WV, IL
Offer Expires
Feb 7, 2022
Bonus Requirements
  1. Open a new Huntington 5 Checking account using the link below.
  2. Within 60 days, make deposits totaling $1,000.
  3. Keep your account open for 90 days.
  4. Bonus will be deposited to your new account within 14 days of meeting the requirements.

Citizens Bank : Personal Checking Account

About This Bonus Offer

Earn up to $400 for opening a new personal checking account at Citizens Bank – a solid bonus given the low requirements. You'll earn $300 for opening the checking account plus an opportunity to earn another $100 through debit spend.

Bonus Amount
up to $400
Account Type
Personal Checking
Availability
CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT
Offer Expires
Feb 17, 2022
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.

PNC Bank : Virtual Wallet® with Performance Spend

About This Bonus Offer

Available in 22 states plus the District of Columbia, PNC is kicking off the new year with a competitive welcome bonus for opening a personal checking account and using direct deposit within the first 2 months. This offer has the flexibility of being applied in-branch or online using the link below.

If you can deposit more than the $2k required here, they're also running a $400 offer with a $5k requirement.

Assuming you don't have an account with PNC (and haven't within the last 90 days), we definitely recommend grabbing this easy bonus.

Live in a state that doesn't have a branch? No worries, check out this Virtual Wallet® Pro $200 bonus by PNC.

Bonus Amount
$200
Account Type
Personal Checking
Availability
CA, AZ, TX, NM, CO, PA, FL, OH, WV, DE, NJ, SC, NC, GA, KY, IN, MI, IL, MD, DC, WV, WI
Offer Expires
Feb 28, 2022
Bonus Requirements
  1. Open a Virtual Wallet® with Performance Spend account using the link below.
  2. Within 60 days, have a total of $2,000 in direct deposits.
  3. Bonus will be deposited into your account 60-90 days after requirements have been met.

Huntington National Bank : Unlimited Plus Business Checking

About This Bonus Offer

Huntington is offering a welcome bonus to those opening new business checking accounts. This one offers an impressive $1,000 bonus for a $20,000 deposit, which is up from the $750 cash they gave previously.

Keep in mind the deposits do not need to be direct deposits – just new cash into the account.

Don't have $20k? They're also running a $100 offer and a $400 offer 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 Amount
$1000
Account Type
Business Checking
Availability
OH, MI, IN, PA, KY, WV, IL
Offer Expires
Mar 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.

Discover Bank : Online Savings Account

About This 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 Amount
up to $200
Account Type
Personal Savings
Availability
Nationwide
Offer Expires
Mar 15, 2022
Bonus Requirements
  1. Open a new Discover Online Savings Account using promo code "OB122" at the link below.
  2. Within 30 days, 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.

TD Bank : Beyond Checking

About This 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 Amount
$300
Account Type
Personal Checking
Availability
CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
Offer Expires
Mar 31, 2022
Bonus Requirements
  1. Open a TD Beyond Checking account using the link below.
  2. Within 60 days, have a total of $2,500 in direct deposits.
  3. Bonus will be credited no later than 140 days from account opening.

Fifth Third Bank : Personal Checking

About This 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 $250 to $300 AND decreased the deposit requirement from $1,000 to $500.

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 Amount
$300
Account Type
Personal Checking
Availability
FL, GA, IL, IN, KY, MI, NC, OH, SC, TN, WV
Offer Expires
Mar 31, 2022
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.

TD Bank : Personal Savings Account

About This Bonus Offer

TD Bank is offering a $200 welcome bonus if you open a new savings account by March 31st, 2022. It works out to effectively be an interest rate of about 4% — significantly better than any savings account rates these days.

What's more, you can maximize this promo by also opening a new personal checking account — stacking an extra $300 or $150 on top of this offer for a total of up to $500.

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 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
Mar 31, 2022
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.

HSBC Bank : HSBC Premier

About This Bonus Offer

HSBC is offering a sign-up bonus of $450 to new Premier checking customers. It's available nationwide and you can open the account online.

Keep in mind that HSBC is known to have a more involved account opening process than most of their competitors. Expect a "pending" status after applying online, and you may be asked to verify information by email or by phone before being approved.

That said, this $450 welcome bonus for opening a new Premier checking account is still worthwhile in our book if you can swing the $5,000 necessary in direct deposits each month.

Bonus Amount
$450
Account Type
Personal Checking
Availability
AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
Offer Expires
Mar 31, 2022
Bonus Requirements
  1. Open a new HSBC Premier checking account using the link below.
  2. Starting the second full calendar month after opening, receive recurring direct deposits totaling $5,000 for 3 consecutive months.
  3. The bonus will be credited to your account within 8 weeks of meeting the requirements.

Affinity Federal Credit Union : Cash Back Debit

About This Bonus Offer

Back for 2022, Affinity Credit Union is offering a $150 sign up bonus for joining the credit union and opening a Cash Back Debit account.

To earn the reward, you'll need to set up direct deposit and receive that recurring deposit for the three consecutive months following account opening. You'll also need use your debit card a total of 10 times within those three months.

This is a free rewards checking account from a credit union anyone can join.

They've partnered with more than 2,000 businesses, associations and clubs, and if you're affiliated with any of them, you're in. If that fails, then you can also become eligible to join by making a one-time $5 donation to either the New Jersey Coalition for Financial Education or the Connecticut Jump$tart Coalition.

Bonus Amount
$150
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Mar 31, 2022
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.

M1 Finance : M1 Invest

About This Bonus Offer

Available nationwide with the ability to open online, and back for 2022, M1 Finance is offering up to a $500 welcome bonus when you open a new investment account and make an initial deposit. This is a tiered bonus, the more you deposit, the more you can earn. What's more? You can stack this offer with the M1 Transfer (ACATS) $2,500 Bonus.

Bonus Amount
up to $500
Account Type
Investment
Availability
Nationwide
Offer Expires
Mar 31, 2022
Bonus Requirements
  1. Open a new M1 Invest account.
  2. Within 14 days, make cumulative initial deposits totaling at least $1,000.
  3. Maintain that balance until the August 1st, 2022 payout day to earn your bonus, as follows: $1,000-$4,999 earn $30; $5,000-$9,999 earn $75; $10,000-$29,999 earn $150; $30,000-$49,999 earn $300; $50,000+ earn $500.

Bank of America : Advantage Banking Account

About This 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 Amount
$100
Account Type
Advantage Banking
Availability
Nationwide
Offer Expires
Jun 30, 2022
Bonus Requirements
  1. Open a new Bank of America Advantage Banking personal checking account using the link below.
  2. Within 90 days, receive direct deposits of $1000 or more.
  3. Bonus will be deposited directly into your account within 60 days of meeting the requirements.

Alliant Credit Union : Ultimate Opportunity Savings Account

About This 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 Amount
$100
Account Type
Personal Savings
Availability
Nationwide
Offer Expires
Dec 31, 2022
Bonus Requirements
  1. Open a new Ultimate Opportunity Savings Account using the link below.
  2. For 12 consecutive months, deposit $100 each month.

What Are Bank Promotions?

Banks and credit unions are always looking to attract as many new customers as possible.

The more new money that these financial institutions can bring in, the more overall profit they make.

One of the most popular ways that banks lure in new customers is by offering account opening bonuses, which are financial incentives you can get for opening a new account and meeting certain terms and conditions.

These new account offers are a win-win for the bank (or credit union) and customer.

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

How Can I Qualify For a Checking Account Bonus?

First, you typically need to be a new customer.

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

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

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

Requirements for checking account offers usually fall into four categories:

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

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

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

This means that you either have to maintain an average daily balance, an average monthly balance, a specified combined balance, or a minimum balance as required by the bank.

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

Ultimately, they’re putting the terms in place so that new customers don’t get the bonus and quickly close the account, which would result in a financial loss for the bank.

How are bank bonuses paid out?

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

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

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

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

How much money can you get?

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

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

How do I avoid monthly fees?

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

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

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

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

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

How To Find A Bank Sign Up Bonus

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

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

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

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

What Do The Best Bank Promotions Look Like?

The bigger, the better, right?

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

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

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

Another thing to watch out for is that if the bank charges a monthly maintenance fee for your new account. This could eventually wash out any bonus that you might get.

So, if you’re eyeing a $200 sign-up bonus, but then the bank charges an unavoidable $15 monthly fee, then your bonus offer gets washed out in about 13 months.

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

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

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

Our Methodology

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

We focused on the following criteria:

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

New Bank Account Offers: The Fine Print

It’d be nice if it was as simple as signing up and cashing in, but there are few more things to consider.

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

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

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

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

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

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

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

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

Finally, don’t forget that checking account bonuses are considered income and will need to be claimed come tax time. Unlike credit card bonuses, which are viewed by the IRS as a rebate or discount, checking account bonuses are considered taxable income.

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

Bank Promotions FAQs

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

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

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

Larger, national banks typically have the resources to pay out the best bank bonuses. But you can also find sign-up rewards at your local community bank or credit union.

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

Are new savings and checking account bonuses worth it?

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

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

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

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

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

Why do banks have promotions?

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

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

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

How?

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

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

Are bank bonuses taxable?

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

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

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

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

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

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

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

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

Banks With Sign Up Bonuses For Other Accounts

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

The Best Bank Bonus For You

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

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

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

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

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

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

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