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:

Chime Bank : Spending Account

Bonus Amount
$250
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new account with Chime using the link below.
  2. Within 30 days, receive a direct deposit of $200.
  3. Points will be credited to your Swagbucks account within 60 days of meeting the requirements.

Citadel Credit Union : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
PA
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a Free Checking or Rewards Checking account using the promo code SEPT30013.
  2. Within 60 days, receive direct deposits totaling $500.
  3. Bonus will be credited to your new account within 60 days.

Ponce Bank : Money Market Deposit Account

Bonus Amount
up to $125
Account Type
Mma
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new Ponce Bank MMDA through SaveBetter, using the promo code WELCOME.
  2. Deposit $5,000 to earn an initial $25 bonus, plus earn an additional $5 for every $5,000 deposited beyond that.
  3. Maintain the balance for 90 days.
  4. Bonus cash will be deposited by SaveBetter into your Ponce Bank MMDA within 30 days of meeting requirements.

Stark Federal Credit Union : Free Checking

Bonus Amount
$150
Account Type
Personal Checking
Availability
OH
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a Free Checking account using the link below.
  2. Within 60 days, make 10 debit card purchases OR receive a direct deposit of $500.
  3. Bonus will be credited to your new checking account during the 60-day promo period.

Hawthorn Bank : Personal Checking

Bonus Amount
$250
Account Type
Personal Checking
Availability
MO
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the offer code CASH250.
  2. Within 90 days, make at least 2 direct deposits totaling $500 or more.
  3. After the 90 day waiting period, qualifying users will receive a $250 gift card in the mail within 4-6 weeks.

PNC Bank : Virtual Wallet with Performance Spend

Bonus Amount
$250
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
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 credited to your account within 60-90 days after meeting requirements.

Ardent Credit Union : Personal Checking

Bonus Amount
up to $350
Account Type
Personal Checking
Availability
PA
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Become a member of Ardent Credit Union OR be an existing member that has not had any ACU checking account for at least 12 months.
  2. Open a High Yield or Cashback checking account.
  3. Within 60 days complete the following to earn their respective bonuses: 1) make 8 debit card purchases, earn $100, 2) make one direct deposit, earn $200, 3) enroll in eStatements, earn $50).
  4. Bonus deposited into your checking account within 30 days of meeting the qualifications.

PNC Bank : Virtual Wallet

Bonus Amount
$100
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a Virtual Wallet account using the link below.
  2. Within 60 days, have a total of $500 in direct deposits.
  3. Bonus will be deposited into your account 60-90 days after requirements have been met.

GTE Financial Credit Union : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Become a GTE member and apply the promo code JOIN200.
  2. Open a Go Premium with GTE Secure, Go Full Access, or Go Further checking account.
  3. Within 60 days, make a direct deposit totaling $500 or more.
  4. Bonus will be deposited into your new checking account within 10 days of completing the requirements.

San Mateo Credit Union : Premium Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
CA
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new Premium Checking account at the Half Moon Bay location.
  2. Enroll in eStatements.
  3. In November, make 10 debit card purchases that total $100.
  4. Also in November, receive 1 direct deposit of any amount.
  5. Bonus will be credited to your new account the following month.

CommunityAmerica Credit Union : Chiefs Checking or Cashback Free Checking

Bonus Amount
$150
Account Type
Chiefs Checking or Cashback Free Checking
Availability
KS, MO
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new Chiefs Checking or Cashback Free Checking account using the promo code BMC.
  2. Within 60 days, receive a monthly direct deposit of $250.
  3. The bonus will be deposited into your primary savings account within 30 days of meeting the requirements.

OUR Credit Union : Premium Checking

Bonus Amount
up to $100
Account Type
Personal Checking
Availability
MI
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new Premium Checking account using the link below and with $100 opening deposit.
  2. Enroll in eStatements.
  3. Within 60 days, complete direct deposits totaling $500 and complete at least 1 debit card transaction per month.
  4. Bonus will be credited to your account approximately 60 days from opening date.

BayCoast Bank : Direct Checking

Bonus Amount
up to $250
Account Type
Personal Checking
Availability
MA, RI
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a Direct Checking account using the promo code BCB250.
  2. Within 90 days, receive a direct deposit to earn $100.
  3. Within the same 90 days, make 12 debit card purchases to earn an additional $50.
  4. Within the same 90 days, enroll in eStatements to earn an additional $25.
  5. Within the same 90 days, make a bill payment or mobile deposit to earn an additional $25.
  6. Finally, within the same 90 days, open a safe deposit box and receive a $40 credit toward your annual fee, and/or order a pack of starter checks for free (up to $10).
  7. Aside from the starter checks and the safe deposit box credit which are realtime, other bonuses will be credited to the account within 90 days of qualification.

One Finance : One account

Bonus Amount
$50
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a One account during the month of October.
  2. Connect your direct direct deposit by the end of the month.
  3. Complete a direct deposit of at least $250 by 11/05/2021.
  4. Have a second direct deposit of at least $250 complete by 12/03/2021.
  5. Make at least 3 debit card transactions of at least $2.50 by 12/03/2021.
  6. Bonus will be deposited to your Spend Pocket by December 15, 2021.

Starion Bank : Personal Checking

Bonus Amount
up to $250
Account Type
Personal Checking
Availability
ND
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the link below.
  2. At account opening, make an opening deposit of $500 to earn $50.
  3. Within 60 days, receive either a direct deposit into the account OR set up a recurring automatic payment from the account to earn an additional $200.
  4. $50 of the bonus will be credited to the new account within 10 calendar days; the remaining $200 will be credited to the checking account within 90 calendar days.

We Florida Financial Credit Union : EarnMore Checking

Bonus Amount
$250
Account Type
Personal Checking
Availability
FL
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new EarnMore Checking account using the link below.
  2. Enroll in eStatements.
  3. For 3 months, make 10 debit card pin-less purchases of at least $5 each.
  4. In those same 3 months, receive a direct deposit of $250.
  5. Bonus will be credited to your account on the first day of the month following the 90th day the account was opened.

Tulsa Teachers Credit Union : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
OK
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new personal checking account.
  2. Before 11/30/2021, complete a recurring direct deposit of $200 or more.
  3. Bonus will be deposited into the new account by 12/31/2021.

Penn Community Bank : Advantage Business Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
PA
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new Business Advantage Checking account.
  2. Within the first 30 days, deposit $2,500.
  3. For days 31-90, maintain that $2,500 daily balance.
  4. Bonus will be deposited to the checking account within 45 days after meeting offer requirements.

Bar Harbor Bank and Trust : Simple Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
ME, NH, VT
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a new Simple Checking account online using the promocode Bonus921 or in branch after downloading a coupon from the link below.
  2. Make a direct deposit of $250 or more into the account by December 31, 2021.
  3. Bonus will be credited to eligible accounts on or about 12/31/21.

Orange County's Credit Union : Personal Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
CA
Offer Expires
Oct 31, 2021
Bonus Requirements
  1. Open a Basic, Interest, or Better Than Free personal checking account.
  2. Enroll in eStatements.
  3. Sign up and qualify for a debit card.
  4. Receive a direct deposit within 60 days.
  5. Bonus will be credited to your new checking account within 90 days.

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.