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:

Sauk Valley Bank & Trust Company : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
IL
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the promo code DN200M21.
  2. Make an initial opening deposit of $500 into your new account.
  3. Within 60 days of account opening, receive 2 direct deposits of any amount.
  4. Bonus will be credited to your new account within 60 days of meeting the requirements.

Independent Bank : ONE Account

Bonus Amount
up to $250
Account Type
Personal Checking
Availability
MI
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new ONE Account using the link below.
  2. Within 45 days, make 10 debit card purchases to earn $50.
  3. Receive a direct deposit of at least $50 to earn an additional $100.
  4. Deposit and maintain a balance of $2,500 for 60 days to earn an additional $100.
  5. Bonus(es) will be credited to your new account within 60 days of meeting the requirements.

Santander Bank : Business Checking

Bonus Amount
$450
Account Type
Business Checking
Availability
CT, DE, FL, MA, NH, NJ, NY, PA, RI
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Business Checking or Business Checking Plus account using the promo code BUS450Q421.
  2. Deposit $10,000 and maintain that balance for 90 days.
  3. Keep your account open for at least 90 days.
  4. Bonus will be paid within 30 days of the meeting the requirements.

Ally Bank : Ally Invest

Bonus Amount
up to $3000
Account Type
Investment
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new self-directed Ally Invest account using the link below.
  2. Within 60 days, deposit $10k to earn $100; $25k to earn $250; $100k to earn $300; $250k to earn $600; $500k to earn $1,200; $1M to earn $2k; or $2M to earn $3,000.
  3. Maintain that balance (including the bonus) for 300 days.
  4. Accounts will be reviewed 60 days after opening, and corresponding bonus will be credited to the account within 10 business days.

Reading Cooperative Bank : Personal Checking Account

Bonus Amount
up to $100
Account Type
Personal Checking
Availability
MA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the link below.
  2. Within 60 days, establish a recurring direct deposit of at least $300 to earn $50.
  3. Within the same 60 days, enroll in online banking and initiate a successful online bill payment to earn another $50.

Town Bank : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
WI
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Total Access Checking account using the link below.
  2. Enroll in online banking and activate e-statements.
  3. In the 2 calendar months following account opening, set up a recurring direct deposit totaling $500.
  4. Bonus will post to your new account within 30 days after the qualification period.

Town Bank : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
WI
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Statement Savings account using the link below.
  2. Within the same month of account opening, deposit $15,000 in new money.
  3. Maintain the $15,000 balance for the three months after the initial month the account is opened.
  4. Bonus will post to your new account within 30 days after the qualification period.

Dyer Bank & Trust : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IN
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Total Access Checking account using the link below.
  2. Enroll in online banking and activate e-statements.
  3. In the 2 calendar months following account opening, set up a recurring direct deposit totaling $500.
  4. Bonus will post to your new account within 30 days after the qualification period.

Dyer Bank & Trust : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IN
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Statement Savings account using the link below.
  2. Within the same month of account opening, deposit $15,000 in new money.
  3. Maintain the $15,000 balance for the three months after the initial month the account is opened.
  4. Bonus will post to your new account within 30 days after the qualification period.

Wintrust Florida : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
FL
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Total Access Checking account using the link below.
  2. Enroll in online banking and activate e-statements.
  3. In the 2 calendar months following account opening, set up a recurring direct deposit totaling $500.
  4. Bonus will post to your new account within 30 days after the qualification period.

Wintrust Florida : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
FL
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Statement Savings account using the link below.
  2. Within the same month of account opening, deposit $15,000 in new money.
  3. Maintain the $15,000 balance for the three months after the initial month the account is opened.
  4. Bonus will post to your new account within 30 days after the qualification period.

Wintrust Bank : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Total Access Checking account using the link below.
  2. Enroll in online banking and activate e-statements.
  3. In the 2 calendar months following account opening, set up a recurring direct deposit totaling $500.
  4. Bonus will post to your new account within 30 days after the qualification period.

Wintrust Bank : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IL
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Statement Savings account using the link below.
  2. Within the same month of account opening, deposit $15,000 in new money.
  3. Maintain the $15,000 balance for the three months after the initial month the account is opened.
  4. Bonus will post to your new account within 30 days after the qualification period.

Sound Credit Union : IRA

Bonus Amount
$100
Account Type
Investment
Availability
WA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new IRA at Sound Credit Union.
  2. Within 45 days, deposit $25,000 into the new account by transfering an existing IRA or rolling over a 401k.
  3. Receive a $100 Visa gift card 90 days after account opening.

HomeTrust Bank : Personal Checking Account

Bonus Amount
up to $400
Account Type
Personal Checking
Availability
NC, SC, TN, VA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the promo code UPTO400.
  2. Make an opening deposit of $10,000 and maintain that balance for 90 days to earn $150.
  3. Within that same 90 days, receive direct deposits totaling $2,500 to earn another $150.
  4. In 1 of the first 3 months, make 15 debit card purchases totaling $500 to earn the last $100.
  5. Each bonus will be credited to your account on the 15th of the month after that specific requirement has been met, and all no later than 120 days from account opening.

Arizona Central Credit Union : Personal Checking Account

Bonus Amount
$200
Account Type
Personal Checking
Availability
AZ
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking using the link below.
  2. Sign up for eStatements.
  3. Within 60 days, make 15 debit card transactions of any kind.
  4. Within the same 60 days, receive a direct deposit of $250 each month.
  5. Bonus will be credited to your account within 10 days of meeting all 3 requirements.

Fulton Bank : Simply Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
DE, DC, MD, NJ, PA, VA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new Simply Checking account using the link below.
  2. Within 60 days, set up a recurring direct deposit totaling $500 OR use your debit card at least 15 times for a total of $300 in total purchases.
  3. Bonus will be credited to your account 4-6 weeks after meeting the requirements.

Pennsylvannia State Employees Credit Union : Checking Account

Bonus Amount
$250
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Become a member of PSECU using the promo code 250OFFER.
  2. Sign up for a new checking account, including debit card and digital banking.
  3. Within 90 days, receive recurring direct deposits totaling $200 per month, and maintain that that direct deposit for 6 months.
  4. Bonus will be credited to your account within 45 days after meeting the requirements.

BMI Federal Credit Union : Checking Account

Bonus Amount
$150
Account Type
Personal Checking
Availability
OH
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new checking account using the promo code NEWCHK21 and with a minimum $20 opening deposit.
  2. Sign up for eStatements.
  3. Within 90 days, make 30 debit card transactions of at least $5/each.
  4. Bonus will be credited within 10 days of meeting the requirements.

Dedham Savings Bank : Personal Checking Account

Bonus Amount
$250
Account Type
Personal Checking
Availability
MA
Offer Expires
Dec 31, 2021
Bonus Requirements
  1. Open a new personal checking account using the link below.
  2. Within 60 days, receive 2 direct deposits totaling $1,000.
  3. Within the same 60 days, pay at least 2 bills using Dedham Savings Online Bill Pay OR make 5 debit card purchases.
  4. Bonus will be credited to your account within 90 days after requirements are met.

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.