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:

Wells Fargo Bank : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the link below.
  2. Within 90 days, receive direct deposits totaling $1,000.
  3. Bonus will be deposited into your account within 30 days of the 90-day qualification period.

HSBC Bank : HSBC Premier

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
Jan 5, 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.

M&T Bank : Personal Checking Account

Bonus Amount
$250
Account Type
Personal Checking
Availability
CT, DC, DE, MD, NJ, NY, PA, VA, WV
Offer Expires
Jan 10, 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.

Capital One : 360 Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Jan 11, 2022
Bonus Requirements
  1. Open a 360 Checking account using the promo code SHARE100.
  2. Within 90 days, receive 2 direct deposits each of $200 or more.
  3. Bonus will be credited to your account within 5 months of account opening.

Huntington Bank : Huntington 5 Checking®

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.

TD Bank : Beyond Checking

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
N/A
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.

Unifimoney : High Yield Checking or Investing

Bonus Amount
up to $5000
Account Type
High Yield Checking or Investing
Availability
Nationwide
Offer Expires
N/A
Bonus Requirements
  1. Open a new account using the link below.
  2. Within 14 days, make deposits totaling $1,000 to earn $25; $10,000 to earn $100; $20,000 to earn $250; $50,000 to earn $500; $100,000 to earn $1,000; $250,000 to earn $2,500; or $500,000 to earn $5,000.
  3. Maintain that balance for 30 days for tiers 1 and 2, or 90 days for all other amounts ($20k+).
  4. Your Bitcoin reward will be paid into your Unifimoney Crypto account within 14 days.

Fidelity Investments : Personal Account

Bonus Amount
$100
Account Type
Personal
Availability
Nationwide
Offer Expires
N/A
Bonus Requirements
  1. Open a new eligible account using the promo code FIDELITY100.
  2. Within 15 days, deposit $50.
  3. Bonus will be deposited directly to the eligible account within 10 calendar days after the qualification period.

Aspiration : Aspiration

Bonus Amount
$150
Account Type
Cash
Availability
Nationwide
Offer Expires
N/A
Bonus Requirements
  1. Open an Aspiration 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.

Camden National Bank : Personal Checking

Bonus Amount
up to $300
Account Type
Personal Checking
Availability
ME, NH
Offer Expires
Oct 22, 2021
Bonus Requirements
  1. Open a new personal checking account using the link below.
  2. Within 60 days, receive direct deposits totaling $500.
  3. Bonus will be credited to your new account within 90 days of the qualifying deposit, and the amount will be determined by the account opened: $100 for opening either Access or Choice Checking, $200 for opening a Rewards Checking account, or $300 for opening a Premier Checking account.

BMO Harris Bank : Essential Business Checking

Bonus Amount
$200
Account Type
Business Checking
Availability
FL, IL, WI, MN, IN, AZ, KS, MO
Offer Expires
Oct 29, 2021
Bonus Requirements
  1. Use the link below to receive a promo code by email.
  2. Open a new Essential Business Checking account in-branch.
  3. Within 30 days, deposit $1,500 and maintain that balance for 90 days.
  4. Within 90 days of account opening, make 10 electronic transactions (debit card purchases, ACH credits or debits, online bill pays, mobile deposits, or wire transfers).

BMO Harris Bank : Business Advantage Checking

Bonus Amount
$500
Account Type
Business Checking
Availability
FL, IL, WI, MN, IN, AZ, KS, MO
Offer Expires
Oct 29, 2021
Bonus Requirements
  1. Use the link below to receive a promo code by email.
  2. Open a new Business Advantage Checking account in-branch.
  3. Within 30 days, deposit $5,000 and maintain that balance for 90 days.
  4. Within 90 days of account opening, make 10 electronic transactions (debit card purchases, ACH credits or debits, online bill pays, mobile deposits, or wire transfers).

Santander Bank : Simply Right® Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
CT, DE, FL, MA, NH, NJ, NY, PA, RI
Offer Expires
Oct 29, 2021
Bonus Requirements
  1. Open a new Santander Right® Checking account using the link below.
  2. Within 90 days, make direct deposits totaling $4,000 or more.
  3. Keep your account open for at least 90 days.
  4. Bonus will be paid within 30 days of the initial 90 day period.

Southeastern Federal Credit Union : Kasasa Checking

Bonus Amount
up to $150
Account Type
Kasasa Checking
Availability
GA
Offer Expires
Oct 29, 2021
Bonus Requirements
  1. Open a Kasasa Cash or Kasasa Cash Back checking account using the link below.
  2. Earn $100 just for opening the account.
  3. Within 60 days, receive a direct deposit of $250 to earn an additional $50.
  4. Bonus(es) will be credited to your new checking account within 10 days.

People's United Bank : Advantage Plus or Premier Advantage

Bonus Amount
up to $400
Account Type
Advantage Plus or Premier Advantage
Availability
MA, CT, NY, ME, NH, VT
Offer Expires
Oct 29, 2021
Bonus Requirements
  1. Open a new Advantage Plus ($300 bonus) or Premier Advantage ($400 bonus) checking account using the promo code FALL300.
  2. Within 60 days, receive direct deposits totaling $2,500.
  3. Bonus will be credited to your account on February 1, 2022.

Santander Bank : Santander Select® Checking

Bonus Amount
$400
Account Type
Personal Checking
Availability
CT, DE, FL, MA, NH, NJ, NY, PA, RI
Offer Expires
Oct 29, 2021
Bonus Requirements
  1. Open a new Santander Select® Checking account using the link below.
  2. Within 90 days, make direct deposits totaling $6,000 or more.
  3. Keep your account open for at least 90 days.
  4. Bonus will be paid within 30 days of the initial 90 day period.

First Home Bank : Business Checking

Bonus Amount
up to $500
Account Type
Business Checking
Availability
FL
Offer Expires
Oct 30, 2021
Bonus Requirements
  1. Open a new Free Business Checking or NOW Business Interest Checking account.
  2. Within 90 days, deposit $1,000.
  3. An initial $250 bonus will be deposited within 30 days of opening the account. A second $250 bonus will be deposited 91-100 days after account opening, assuming the account is still open and the required deposit was made.

North Shore Bank : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
MA, NH
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the promo code READING300.
  2. Within 60 days, receive two (2) recurring direct deposits of $250 each.
  3. Bonus will be paid no later than 90 days from account opening.

American Heritage Credit Union : Personal Checking

Bonus Amount
up to $200
Account Type
Personal Checking
Availability
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Join American Heritage Credit Union.
  2. Open a new personal checking account through a valid workplace partner (or designation if opened online).
  3. Make direct deposits totaling $500.00 or more in each of the following full three statement cycles following the month of account opening and receive $50 per statement cycle.
  4. Make 25 or more cumulative debit card transactions during the first three full statement cycles following account opening to receive an additional $50 bonus.
  5. Bonuses will be awarded at end of 90 day promotional period.

Valley Strong Credit Union : Personal Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
CA
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new checking account online or in branch.
  2. Sign up for a Valley Strong debit card.
  3. Within 90 days, complete a direct deposit OR make an average of 12 credit and/or debit transactions per month for those 90 days.
  4. $100 bonus will be paid on or around the 91st day after account opening. Restaurant gift card will be mailed or given in-person at time of account opening.

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.