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.

393 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:

North State Bank : Hero Checking

Bonus Amount
$50
Account Type
Personal Checking
Availability
NC
Offer Expires
N/A
Bonus Requirements
  1. Open a new Hero Checking account.
  2. Between 90 and 180 days after account opening, make 20 debit card purchases in a single statement cycle.
  3. In that same statement cycle, make one direct deposit.

Mountain America Credit Union : MyStyle Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
UT
Offer Expires
N/A
Bonus Requirements
  1. Open a MyStyle Checking account.
  2. Within 60 days, make a direct deposit.
  3. Also within 60 days, enroll in eStatements.
  4. Bonus will be deposited within 30 business days of meeting the requirements.

Fidelity Co-operative Bank : Personal Checking

Bonus Amount
$250
Account Type
Personal Checking
Availability
MA
Offer Expires
N/A
Bonus Requirements
  1. Open any new Fidelity Bank CareChecking account using the link below.
  2. Enroll and use both online and mobile banking.
  3. Within 60 days, receive direct deposits that total $500.
  4. In the first two full calendar months following account opening, make 12 debit card purchases of $10 each.
  5. Bonus will be credited to your account during the subsequent statement cycle after meeting the requirements.

Byline Bank : Statement Savings

Bonus Amount
up to $150
Account Type
Personal Savings
Availability
IL, WI
Offer Expires
N/A
Bonus Requirements
  1. Open a Statement Personal Savings Account online.
  2. Before the first statement cycle ends, enroll in online banking and activate eStatements.
  3. Maintain an average balance of $5,000 or more for each qualifying statement cycle.
  4. Each qualifying statement cycle is eligible for a $50 bonus
  5. Each $50 cash bonus will be deposited no later than one statement cycle after meeting the qualifications for the bonus.

CommunityAmerica Credit Union : High Interest Savings

Bonus Amount
$50
Account Type
Personal Savings
Availability
KS
Offer Expires
N/A
Bonus Requirements
  1. Open a new checking account.
  2. At the same time, open a new High Interest Savings account.
  3. Within 60 days, reach a balance of $1,000.
  4. Maintain the ‘Qualifications for cash back’ requirements for a consecutive 31 days. (Enroll in eStatements, monthly direct deposit of at least $250, 15 debit card transactions OR Enroll in eStatements and 25 debit card transactions.)
  5. Bonus will post within 30 days of meeting the qualifications.

Chase Bank : Chase Freedom Unlimited®

Bonus Amount
$200
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
N/A
Bonus Requirements
  1. Apply for a new Chase Freedom Unlimited® credit card using the link below.
  2. Within 3 months, spend $500 using your new card.
  3. Bonus will be credited within 6 to 8 weeks in the form of 20,000 points, which can be redeemed for $200.

Chase Bank : Ink Business Unlimited®

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

Commonwealth Credit Union : Round UP Checking

Bonus Amount
up to $250
Account Type
Personal Checking
Availability
KY
Offer Expires
N/A
Bonus Requirements
  1. Open a new Round UP Checking and Round UP Savings account using the link below.
  2. Enroll in online banking and eStatements.
  3. For the first 90 days, every debit card transaction will be rounded up to the next whole dollar, and the difference will be transferred to your Round UP Savings account. For the first 90 days, Commonwealth CU will match these transfers 100%, up to $250.
  4. 90 day bonus will be credited at the end of the first 90 days. Then, an annual 5% match (again, up to $250) will be paid on the first business day after your account opening anniversary.

Byline Bank : Combo Checking and Savings

Bonus Amount
up to $300
Account Type
Combo Checking and Savings
Availability
IL, WI
Offer Expires
N/A
Bonus Requirements
  1. Open a Freedom Checking account and Statement Savings account online.
  2. Enroll in online banking and activate eStatements for both accounts.
  3. For the checking bonus, make direct deposits into your Freedom Checking account totaling $1,000 in any/all of the first 3 statement cycles - earn $50 ea (max $150)
  4. For the savings bonus, maintain an average balance of $5,000 or more in your Statement Savings account in any/all of the first 3 statement cycles - earn $50 ea (max $150).
  5. Each $50 Bonus will be credited to respective accounts within one statement cycle after earning.

Sacramento Credit Union : Free Rewards

Bonus Amount
$150
Account Type
Personal Checking
Availability
CA
Offer Expires
N/A
Bonus Requirements
  1. Open a new checking account in the Folsom Branch using the promo code SAVE.
  2. Within 60 days, receive a direct deposit.
  3. Bonus will be credited to your new account on the first business day after 60 days of opening the account.

Hudson Valley Federal Credit Union : Personal Checking

Bonus Amount
up to $750
Account Type
Personal Checking
Availability
NY
Offer Expires
N/A
Bonus Requirements
  1. Open a new checking account using the link below.
  2. Within 60 days, enroll in eStatements and Internet Banking and/or Mobile Banking to earn $250.
  3. Within the same 60 days, make $2,000 in debit card purchases to earn an additional $250.
  4. Within the same 60 days, receive $2,500 in direct deposits (cumulatively) to earn the final $250.
  5. Bonus will be credited to your new account within five business days after the 60 day qualification period.

Credit Union of America : Free Core Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
KS
Offer Expires
N/A
Bonus Requirements
  1. Be a CUA member that works in education or belongs to a healthcare SEG.
  2. Within 90 days, receive a direct deposit of at least $500.
  3. Bonus will be credited to your account within 30 days of meeting requirements.

Altra Federal Credit Union : Personal Checking

Bonus Amount
$190
Account Type
Personal Checking
Availability
CO, MN, NJ, TN, TX, WI
Offer Expires
N/A
Bonus Requirements
  1. Open a new A+ Checking, A+ Platinum Checking, or Live Your Life spend account using the promo code CHK_190A+LYL.
  2. Within 30 days, receive a direct deposit of $100.
  3. Bonus will be deposited into your new account within 30 business days of meeting the requirements.

Chase Bank : J.P. Morgan Self-Directed Investing [Existing Customers]

Bonus Amount
up to $400
Account Type
J.P. Morgan Self-Directed Investing
Availability
Nationwide
Offer Expires
N/A
Bonus Requirements
  1. Enroll and receive your coupon code through our link provided.
  2. Within 45 days, add $25,000 or more in new money by moving cash, transferring securities, or rolling over existing retirement assets from another institution.
  3. Your bonus amount will be determined on day 45 from coupon enrollment as follows: $25,000-$99,999 earn $100; $100,000-$249,999 earn $200; $250,000+ earn $400.
  4. Maintain new money balance in the account for at least 90 days from coupon enrollment (losses due to trading or market fluctuation will not be taken into account).
  5. Bonus will be credited to the account within 15 days of these requirements being met.

Neighborhood Credit Union : Personal Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
TX
Offer Expires
N/A
Bonus Requirements
  1. Open a new personal checking account using the promo code HAPPY100.
  2. Within 60 days, receive a direct deposit of $500.
  3. Bonus will be credited into member's savings account within ninety (90) days if all criteria met.

Florence Bank : Personal Checking

Bonus Amount
up to $250
Account Type
Personal Checking
Availability
CT, MA
Offer Expires
N/A
Bonus Requirements
  1. Open a new personal checking account using the promo code CH250.
  2. Within 60 days, enroll in eStatements to earn a $200 bonus.
  3. To earn an additional $50, within the same 60 days, complete at least one direct deposit.
  4. Each bonus will be deposited to your account within 14 days of meeting the condition.

Southland Credit Union : Long Beach Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
CA
Offer Expires
N/A
Bonus Requirements
  1. Join Southland Credit Union at their Long Beach Branch.
  2. Open a new Long Beach Checking Account.
  3. Within 90 days, establish Direct Deposit with an amount of $200 or more
  4. OR Utilize Bill Pay service to pay at least one recurring bill using your Long Beach Checking account.
  5. Bonus will be credited to your account the business day following completion of the terms listed.

Southland Credit Union : Cash Rewards Checking

Bonus Amount
up to $175
Account Type
Personal Checking
Availability
CA
Offer Expires
N/A
Bonus Requirements
  1. Open a new Cash Rewards Checking account.
  2. Earn $50 when you receive your first Direct Deposit.
  3. Earn $10 each month in the first year of your account for using your debit card.
  4. Earn $5 each year for using eStatements for each of the preceding 12 months.
  5. $50 bonus will be deposited at the end of the month in which the first direct deposit or payment was made.

Chase Bank : Chase Sapphire Preferred®

Bonus Amount
60,000 Points
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
N/A
Bonus Requirements
  1. Apply for a new Chase Sapphire Preferred® credit card using the link below.
  2. Within 3 months, spend $4,000 using your new card.
  3. Bonus will be credited within 6 to 8 weeks in the form of 60,000 points, which can be redeemed for $600 cash or $750 in travel rewards.

Chase Bank : Chase Freedom Flex℠

Bonus Amount
$200
Account Type
Personal Credit Card
Availability
Nationwide
Offer Expires
N/A
Bonus Requirements
  1. Apply for a new Chase Freedom Flex℠ credit card using the link below.
  2. Within 3 months, spend $500 using your new card.
  3. Bonus will be credited within 6 to 8 weeks in the form of 20,000 points, which can be redeemed for $200.

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
Axos Bank logo Axos Business Interest Checking Business Checking $100 Dec 31 Min Balance Details
Aspiration logo Aspiration Plus Cash $200 N/A Card Spend Details
Axos Bank logo Axos Basic Business Checking Business Checking $100 Dec 31 Min Balance 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

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.