Best Bank Bonuses and Promotions For May 2022

You’re probably familiar with the usual ways to earn money from your bank accounts, such as interest on your deposits 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 new account bonuses, and all you have to do is open a new checking or savings account.

It's true! Many banks, credit unions, and brokerages offer a financial incentive to attract new customers (and their deposits!).

Keep reading to learn more about these new account offers or to compare the best bank bonuses available today.

Best Bank Bonuses in May 2022

These are our absolute favorite promotions right now.

Why?

Because the requirements necessary to earn each bonus are in line with the reward (please don't require us to deposit $500k to earn $150 🙄) and they're from reputable banks and institutions that are available nationwide.

Note: If you're hungry for more offers, you can keep scrolling for our full list of all 449 current offers.

Best checking account bonus offers

Bank Bonus Details Learn More

Citi

Citi Priority Account

Citi Priority Account: up to $1500 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
up to $1500
Account Type
Personal Checking
Expires In
50 days
Requires
  • Min Balance
How To Earn

or, read the full requirements

Fifth Third Bank

Personal Checking

Personal Checking: $350 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 $350 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
$350
Account Type
Personal Checking
Expires In
125 days
Requires
  • Direct Deposit
Apply Now

at Fifth Third Bank

or, read the full requirements

Chase

Chase Total Checking®

Chase Total Checking®: $200 bonus offer

Chase has recently decreased their welcome offer from $225 to $200. While $200 is what Chase has historically offered as a new checking account bonus, it's still a slight bummer to see the amount go down.

That said, Chase Total Checking® is the most popular account from one of the top national banks.

The account can be opened easily online, and 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
$200
Account Type
Personal Checking
Expires In
53 days
Requires
  • Direct Deposit
Apply Now

at Chase

or, read the full requirements

Monifi

Monifi Spend

Monifi Spend: $250 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 May 31), but you don't need to have opted into the bonus at account opening to qualify.

Bonus
$250
Account Type
Personal Checking
Expires In
3 days
Requires
  • Direct Deposit
Apply Now

at Monifi

or, read the full requirements

BMO Harris

Personal Checking

Personal Checking: $200 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. Even better? They're also offering a $5/month kicker if you save regularly.

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
$200
Account Type
Personal Checking
Expires In
8 days
Requires
  • Direct Deposit
Learn More

at BMO Harris

or, read the full requirements

Huntington

Huntington 5 Checking®

Huntington 5 Checking®: $200 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
$200
Account Type
Personal Checking
Expires In
10 days
Requires
  • Min Balance
Apply Now

at Huntington

or, read the full requirements

Bank of America

Advantage Banking Account

Advantage Banking Account: $100 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
$100
Account Type
Personal Checking
Expires In
33 days
Requires
  • Direct Deposit
Apply Now

at Bank of America

or, read the full requirements

HSBC

HSBC Premier

HSBC Premier: $500 bonus offer

HSBC is offering a sign-up bonus of $500 to new Premier checking customers. It's available nationwide and you can open the account online, but highly targeted to more affluent customers. They've bumped up the offer a little, but also doubled the direct deposit requirements.

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 $500 welcome bonus for opening a new Premier checking account is still worthwhile in our book if you can swing the $10,000 necessary in direct deposits each month.

Bonus
$500
Account Type
Personal Checking
Expires In
33 days
Requires
  • Direct Deposit
Apply Now

at HSBC

or, read the full requirements

Wells Fargo

Personal Checking

Personal Checking: $300 bonus offer

Wells Fargo is offering new personal checking account customers a $300 bonus.

To be eligible, you'll first need to open a new Clear Access Banking℠, Everyday Checking, Prime Checking, or Premier Checking account, and then you'll have 3 months to receive $1,000 in direct deposits in order to qualify for the promo.

This is a pretty easy bonus that's available nationally without restriction. Plus, the deposit requirement has been cut in half (from $2,000 to $1,000), and the reward amount bumped up: from the $200 offered last year to the $300 now. Can't complain about that!

Keep in mind that this is their public offer. Wells Fargo is also targeting some customers with higher amounts (we've seen up to $400). Up to you whether it makes sense to wait for a targeted offer (if it comes), or to take advantage of this one.

Bonus
$300
Account Type
Personal Checking
Expires In
48 days
Requires
  • Direct Deposit
Apply Now

at Wells Fargo

or, read the full requirements

M&T

Personal Checking Account

Personal Checking Account: $250 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
$250
Account Type
Personal Checking
Expires In
64 days
Requires
  • Direct Deposit
Apply Now

at M&T

or, read the full requirements

TD Bank

Beyond Checking

Beyond Checking: $300 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
$300
Account Type
Personal Checking
Expires In
156 days
Requires
  • Direct Deposit
Apply Now

at TD Bank

or, read the full requirements

Best savings account bonuses

Bank Bonus Details Learn More

CIT Bank

Money Market Account

Money Market Account: 1-Year Amazon Prime ($139) bonus offer

CIT Bank is offering a unique bonus for opening a money market account and maintain a minimum balance. Not only will you earn interest on you money (0.45% APY currently), you'll also receive one year of Amazon Prime absolutely free. This is valid for new Amazon Prime customers or existing customers to be applied at time of renewal.

Bonus
1-Year Amazon Prime ($139)
Account Type
Mma
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at CIT Bank

or, read the full requirements

Discover

Online Savings Account

Online Savings Account: up to $200 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
up to $200
Account Type
Personal Savings
Expires In
18 days
Requires
  • Min Balance
Apply Now

at Discover

or, read the full requirements

Bask Bank

Bask Mileage Savings

Bask Mileage Savings: 1,000 bonus miles offer

Bask Bank is offering new account holders an additional 1,000 American Airlines AAdvantage® miles – on top of what the Bask Mileage Savings account already accrues.

You'll need to be a brand new Bask Bank customer to take advantage, but this offer is otherwise available nationwide with the ability to open online.

Bonus
1,000 Miles
Account Type
Personal Savings
Expires In
33 days
Requires
  • Min Balance
Apply Now

at Bask Bank

or, read the full requirements

Alliant

Ultimate Opportunity Savings Account

Ultimate Opportunity Savings Account: $100 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
$100
Account Type
Personal Savings
Expires In
217 days
Requires
  • Min Balance
Apply Now

at Alliant

or, read the full requirements

Regions

LifeGreen Savings

LifeGreen Savings: up to $100 bonus offer

The main draw of LifeGreen Savings is its bonus offer, which pays out up to $100 per year when you set up automated transfers (in addition to the normal APY). If you transfer at least $10 into the account per month, you'll get a 1% savings bonus at the end of the year (up to $100).

The best part of this offer is that it isn't a one-time cash back deal. LifeGreen Savings bonuses are eligible each year that the account is in good standing.

Bonus
up to $100
Account Type
Personal Savings
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at Regions

or, read the full requirements

Best investment account bonuses

Bank Bonus Details Learn More

Axos

Self-Directed Trading

Self-Directed Trading: $100 bonus offer

Available nationwide with the ability to open online, Axos is offering a $100 welcome bonus when you open a new self-directed trading account. This is a limited time offer for Axos to promote their new investment platform.

Bonus
$100
Account Type
Investment
Expires In
33 days
Requires
  • Min Balance
Apply Now

at Axos

or, read the full requirements

J.P. Morgan

Self-Directed Investing

Self-Directed Investing: up to $625 bonus offer

Available nationwide with the ability to open online, J.P. Morgan Wealth Management 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, meaning that the more you deposit, the more you may be eligible to earn. New for this iteration, J.P. Morgan has introduced a lower tier at $25,000, down from the previous $100,000 entry point!

Here are all 3 tiers of this investing bonus:

New Money Added Bonus Amount
$25,000-$99,999 $125
$100,000-$249,999 $300
$250,000+ $625

This is the highest offer that we've seen to-date from J.P. Morgan.

Bonus
up to $625
Account Type
Investment
Expires In
47 days
Requires
  • Min Balance
Apply Now

at J.P. Morgan

or, read the full requirements

Ally

Ally Invest

Ally Invest: up to $3000 bonus offer

Ally Invest is offering new investors up to $3,000 in bonus cash when you open and fund a new self-directed investing account. You'll need at least $10,000 to earn the first tier bonus ($100), up to $2M to earn the full $3k.

Ally will also cover any transfer fees your current brokerage might charge, up to $150.

Here are the tiers of this investing bonus:

New Money Added Bonus Amount
$10,000-$24,999 $100
$25,000-$99,999 $250
$100,000-$249,999 $300
$250,000-$499,999 $600
$500,000-$999,999 $1,200
$1,000,000-$1,999,999 $2,000
$2,000,000+ $3,000
Bonus
up to $3000
Account Type
Investment
Expires In
33 days
Requires
  • Min Balance
Apply Now

at Ally

or, read the full requirements

M1

M1 Invest [Transfer]

M1 Invest [Transfer]: up to $2500 bonus offer

If you already have funds invested on another platform, you can earn big when you transfer funds to an M1 Finance account.

Right now, you can earn a bonus of up to $2,500 for making the switch. All you have to do is open a new account that matches the type you’re transferring from, upload some documents, and you’ll be in line for the bonus.

The total bonus that you get depends on the amount of your transfer:

  • $100,000 – $249,999.99: $250
  • $250,000 – $499,999.99: $500
  • $500,000 – $999,999.99: $1,000
  • $1,000,000+: $2,500

What's more, if you're a new M1 Invest customer, you can stack this bonus with their new account bonus, which offers $30-$500.

Bonus
up to $2500
Account Type
Investment
Expires In
217 days
Requires
  • Min Balance
Apply Now

at M1

or, read the full requirements

Tradestation

Securities or Crypto Account

Securities or Crypto Account: up to $150 bonus offer

Available nationwide with the ability to open online, Tradestation is offering new customers a $150 cash bonus when you open a new securities investment account or $150 in Bitcoin when you open a new crypto trading account.

What's more? You can stack this offer with their earn up to $5,000 promotion after your account is opened.

Bonus
up to $150
Account Type
Investment
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at Tradestation

or, read the full requirements

SoFi

Sofi Invest

Sofi Invest: up to $100 bonus offer

Available nationwide, SoFi is offering up to a $100 welcome bonus when you open a new SoFi Crypto account and buy at least $50 in cryptocurrency. This is a tiered bonus, the bonus payout is determined by the amount of your first purchase of Crypto.

The tiers are as follows:

  • Tier 1 | Balance Maintained: $50 - $99.99: $10 in BTC
  • Tier 2 | Balance Maintained: $100 - $499.99: $15 in BTC
  • Tier 3 | Balance Maintained: $500 - $4,999.99: $50 in BTC
  • Tier 4 | Balance Maintained: $5,000+: $100 in BTC
Bonus
up to $100
Account Type
Investment
Expires In
33 days
Requires
  • Min Balance
Apply Now

at SoFi

or, read the full requirements

Best business account bonuses

Bank Bonus Details Learn More

Chase

Chase Business Complete Banking℠

Chase Business Complete Banking℠: $300 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
$300
Account Type
Business Checking
Expires In
54 days
Requires
  • Min Balance
  • Card Spend (optional)
Apply Now

at Chase

or, read the full requirements

Axos

Business Interest Checking

Business Interest Checking: up to $200 bonus offer

Available nationwide with the ability to open online, Axos is offering a $200 welcome bonus when you open a new Business Interest Checking account and maintain a minimum balance. This is double their previous offer so now might be a good time to jump on it!

It's important to note that only new businesses (those incorporated after 06/01/2020) are eligible for $200 and must use promo code NEWBIZ200. If your business is older than that, you'll only be eligible for a $100 bonus and must use promocode NEWAXOSBIZ.

Bonus
up to $200
Account Type
Business Checking
Expires In
33 days
Requires
  • Min Balance
Apply Now

at Axos

or, read the full requirements

BMO Harris

Business Checking

Business Checking: up to $400 bonus offer

Available in select states within their footprint, BMO Harris is offering up to a $400 welcome bonus when you open a new business checking account and meet the minimum balance requirements. This is a tiered bonus, the higher the balance, the more you can earn.

Bonus
up to $400
Account Type
Business Checking
Expires In
6 days
Requires
  • Min Balance
Apply Now

at BMO Harris

or, read the full requirements

Axos

Business Premium Savings

Business Premium Savings: up to $200 bonus offer

Available nationwide with the ability to open online, Axos is offering a $200 welcome bonus when you open a new Business Premium Savings account and maintain a minimum balance. This is double their previous offer so now might be a good time to jump on it!

It's important to note that only new businesses (those incorporated after 06/01/2020) are eligible for $200 and must use promo code NEWBIZ200. If your business is older than that, you'll only be eligible for a $100 bonus and must use promocode NEWAXOSBIZ.

Wanna get a checking account instead? They're also running this $200 promotion on their Business Interest Checking account.

Bonus
up to $200
Account Type
Business Savings
Expires In
33 days
Requires
  • Min Balance
Apply Now

at Axos

or, read the full requirements

Huntington

Unlimited Plus Business Checking

Unlimited Plus Business Checking: $750 bonus offer

Huntington is offering a welcome bonus to those opening new business checking accounts. This one offers $750 for a $20,000 deposit. Don't have $20k? They're also running $100 and $400 offers 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
$750
Account Type
Business Checking
Expires In
40 days
Requires
  • Min Balance
Apply Now

at Huntington

or, read the full requirements

Amex

Business Checking

Business Checking: $300 bonus offer

Available nationwide with the ability to open online, Amex is offering a $300 welcome bonus when you open a new business checking account and make qualifying transactions. This is a rare offer from American Express and relatively easy to earn.

Bonus
$300
Account Type
Business Checking
Expires In
Limited Time
Requires
  • Min Balance
Apply Now

at Amex

or, read the full requirements

449 Current Bank Promotions and New Account Offers

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.

Here are 449 bank promotions that will give you cash for opening a new account right now:

181. Lake Forest Bank & Trust Company Statement Savings - $200 bonus

Back for 2022, Lake Forest Bank & Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Lake Forest Bank & Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Lake Forest Bank & Trust Company

182. Lake Forest Bank & Trust Company Total Access Checking - $300 bonus

Back for 2022, Lake Forest Bank & Trust Company is offering a $300 welcome bonus when you open a new Total Access Checking account and setup direct deposit. Want to earn more? You can stack this offer with their savings account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Lake Forest Bank & Trust Company : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below or tell the banker you are aware of this offer at account opening.
  2. For 2 consecutive months following the calendar month you opened your account, make direct deposits totaling $500.00 or more each month.
  3. During the same months, enroll in online banking and activate e-statements.
  4. Bonus will be deposited into your new account within 30 calendar days after the Qualification Period defined above.
Apply Now

at Lake Forest Bank & Trust Company

183. Village Bank and Trust Total Access Checking - $300 bonus

Back for 2022, Village Bank and Trust is offering a $300 welcome bonus when you open a new Total Access Checking account and setup direct deposit. Want to earn more? You can stack this offer with their savings account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Village Bank and Trust : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below or tell the banker you are aware of this offer at account opening.
  2. For 2 consecutive months following the calendar month you opened your account, make direct deposits totaling $500.00 or more each month.
  3. During the same months, enroll in online banking and activate e-statements.
  4. Bonus will be deposited into your new account within 30 calendar days after the Qualification Period defined above.
Apply Now

at Village Bank and Trust

184. Village Bank and Trust Statement Savings - $200 bonus

Back for 2022, Village Bank and Trust is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Village Bank and Trust : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Village Bank and Trust

185. St. Charles Bank & Trust Company Statement Savings - $200 bonus

Back for 2022, St. Charles Bank & Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

St. Charles Bank & Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at St. Charles Bank & Trust Company

186. St. Charles Bank & Trust Company Total Access Checking - $300 bonus

Back for 2022, St. Charles Bank & Trust Company is offering a $300 welcome bonus when you open a new Total Access Checking account and setup direct deposit. Want to earn more? You can stack this offer with their savings account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

St. Charles Bank & Trust Company : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below or tell the banker you are aware of this offer at account opening.
  2. For 2 consecutive months following the calendar month you opened your account, make direct deposits totaling $500.00 or more each month.
  3. During the same months, enroll in online banking and activate e-statements.
  4. Bonus will be deposited into your new account within 30 calendar days after the Qualification Period defined above.
Apply Now

at St. Charles Bank & Trust Company

187. Schaumburg Bank & Trust Company Total Access Checking - $300 bonus

Back for 2022, Schaumburg Bank & Trust Company is offering a $300 welcome bonus when you open a new Total Access Checking account and setup direct deposit. Want to earn more? You can stack this offer with their savings account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Schaumburg Bank & Trust Company : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below or tell the banker you are aware of this offer at account opening.
  2. For 2 consecutive months following the calendar month you opened your account, make direct deposits totaling $500.00 or more each month.
  3. During the same months, enroll in online banking and activate e-statements.
  4. Bonus will be deposited into your new account within 30 calendar days after the Qualification Period defined above.
Apply Now

at Schaumburg Bank & Trust Company

188. Schaumburg Bank & Trust Company Statement Savings - $200 bonus

Back for 2022, Schaumburg Bank & Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Schaumburg Bank & Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Schaumburg Bank & Trust Company

189. Northbrook Bank and Trust Company Statement Savings - $200 bonus

Back for 2022, Northbrook Bank and Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Northbrook Bank and Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Northbrook Bank and Trust Company

190. Northbrook Bank and Trust Company Total Access Checking - $300 bonus

Back for 2022, Northbrook Bank and Trust Company is offering a $300 welcome bonus when you open a new Total Access Checking account and setup direct deposit. Want to earn more? You can stack this offer with their savings account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Northbrook Bank and Trust Company : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below or tell the banker you are aware of this offer at account opening.
  2. For 2 consecutive months following the calendar month you opened your account, make direct deposits totaling $500.00 or more each month.
  3. During the same months, enroll in online banking and activate e-statements.
  4. Bonus will be deposited into your new account within 30 calendar days after the Qualification Period defined above.
Apply Now

at Northbrook Bank and Trust Company

191. Libertyville Bank & Trust Company Statement Savings - $200 bonus

Back for 2022, Libertyville Bank & Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Libertyville Bank & Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Libertyville Bank & Trust Company

192. Beverly Bank Statement Savings - $200 bonus

Back for 2022, Beverly Bank & Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Beverly Bank and Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Beverly Bank

193. Barrington Bank & Trust Company Total Access Checking - $300 bonus

Back for 2022, Barrington Bank & Trust Company is offering a $300 welcome bonus when you open a new Total Access Checking account and setup direct deposit. Want to earn more? You can stack this offer with their savings account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Barrington Bank & Trust Company : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below or tell the banker you are aware of this offer at account opening.
  2. For 2 consecutive months following the calendar month you opened your account, make direct deposits totaling $500.00 or more each month.
  3. During the same months, enroll in online banking and activate e-statements.
  4. Bonus will be deposited into your new account within 30 calendar days after the Qualification Period defined above.
Apply Now

at Barrington Bank & Trust Company

194. Barrington Bank & Trust Company Statement Savings - $200 bonus

Back for 2022, Barrington Bank & Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Barrington Bank & Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings online or tell the banker in-branch that you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Barrington Bank & Trust Company

195. America's Christian Credit Union Personal Checking - $100 bonus

Available nationwide with the ability to open online, America's Christian Credit Union is offering a $100 welcome bonus when you open a new personal checking account. What's even more? You can earn another $100 with their "New Member CD" promotion and $125 if you open an ACCU credit card.

America's Christian Credit Union : Personal Checking

Bonus Amount
$100
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Basic Checking or Secure Checking account using promo code "SWITCH".
  2. For the first 3 consecutive months following the account open date, make at least 1 deposit of $25.00 or more and 2 debit card purchases each calendar month.
  3. Bonus will be credited to the checking account within 140 days of account opening.
Apply Now

at America's Christian Credit Union

196. Central Bank of the Midwest Personal Checking - $300 bonus

Available in Oklahoma, Kansas and Missouri with the ability to open online, Central Bank of the Midwest is offering a $300 welcome bonus when you open a new checking account and set up direct deposit.

Central Bank of the Midwest : Personal Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
MO, OK, KS
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open an eligible personal checking account using the promo code RAF300.
  2. Deposit $50 or more at account opening.
  3. Within 90 days, make at least two or more qualifying direct deposits totaling $500 or more.
  4. Bonus will be deposited into the checking account within 15 business days after completing the requirements and the initial 90 day period is complete.
Apply Now

at Central Bank of the Midwest

197. Linn Area Credit Union Personal Checking - $90 bonus

Linn Area Credit Union was founded by teachers and is offering teachers in Iowa a $90 bonus when they open a new personal checking account and set up direct deposit. $75 is a cash incentive, the remaining 15 comes in the form of "Teacher Bucks" which you can exchange in their Teacher Store for school supplies.

Linn Area Credit Union : Personal Checking [Teachers]

Bonus Amount
$90
Account Type
Personal Checking
Availability
IA
Offer Expires
December 31, 2022
Bonus Requirements
  1. Join Linn Area Credit Union.
  2. Open a new personal checking account with promo code "TEACH75".
  3. The $75 bonus will come as a checking account credit within 60 days of account opening after verifying the requirements are fulfilled.
  4. he Teacher Bucks will be mailed to the address provided at account opening within 60 days of account opening after verifying the new checking account promotion requirements are fulfilled.
Apply Now

at Linn Area Credit Union

198. Linn Area Credit Union Personal Checking - $50 bonus

Available to Iowa resident with the ability to open online, Linn Area Credit Union is offering a $50 welcome bonus when you open a new personal checking account and set up direct deposit OR enroll in online banking and eStatements. The bonus isn't high, but the requirements are minimal. If you qualify for membership, it's an easy bonus.

Linn Area Credit Union : Personal Checking

Bonus Amount
$50
Account Type
Personal Checking
Availability
IA
Offer Expires
December 31, 2022
Bonus Requirements
  1. Join Linn Area Credit Union.
  2. Open a new personal checking account with promo code "50FORME".
  3. Make a direct deposit OR enroll in online banking and eStatements.
  4. Bonus will be provided as a checking account credit within 60 days of account opening after verifying the requirements are fulfilled.
Apply Now

at Linn Area Credit Union

199. Fulton Bank Personal Checking - $200 bonus

Fulton Bank is offering $200 to new Simply Checking or Interest Checking customers for completing either direct deposit or debit card transactions. If you live in one of the targeted areas, this is an easy bonus for opening a personal checking account that has no monthly fees.

The fine print states that you will have needed to receive a direct communication (email or digital ad) from them to be eligible, but YMMV.

Fulton Bank : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
DE, DC, MD, NJ, PA, VA
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Simply Checking or Interest 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.
Apply Now

at Fulton Bank

200. UNIFY Financial Credit Union Personal Checking - up to $150 bonus

UNIFY Financial Credit Union is offering up to a $150 welcome bonus when you open a new personal checking account. This is a tiered bonus, meaning the more activities you complete, the more you can earn. You'll need both a direct deposit and debit card spend to reach the max bonus amount. It's important to note that while membership to UNIFY Financial can be achieved nationwide, this bonus offer is only available to residents in 1 of 3 select counties in California.

UNIFY Financial Credit Union : Personal Checking

Bonus Amount
up to $150
Account Type
Personal Checking
Availability
CA
Offer Expires
December 31, 2022
Bonus Requirements
  1. Become a member of UNIFY FCU and open a new Free or eChecking checking account with a UNIFY Visa Debit Card and receive a $50 bonus into your checking account following the first statement cycle.
  2. Within 60 days, establish a recurring ACH Direct Deposit of at least $500 aggregate each month, earn another $50.
  3. With 60 days of account opening, earn a $1 for every debit card purchase over $5, up to $50 total.
Apply Now

at UNIFY Financial Credit Union

201. Hinsdale Bank & Trust Company Total Access Checking - $300 bonus

Back for 2022, Hinsdale Bank & Trust Company is offering $300 to new Total Access Checking customers after they meet direct deposit requirements and enroll in online banking and e-statements. It's a solid bonus with easy requirements, so if you live in their footprint, we recommend grabbing this offer!

Keep in mind that if you earn this bonus, you're no longer eligible for any similar bonuses with Wintrust's subsidiaries. You can; however, stack this with their Statement Savings bonus for $500 total.

Hinsdale Bank & Trust Company : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below.
  2. Enroll in online banking and eStatements.
  3. Receive direct deposits totaling $500 each month for the 2 consecutive months after the month you opened the account.
  4. Bonus will be deposited into your new account within 30 days after the qualification period.
Apply Now

at Hinsdale Bank & Trust Company

202. Hinsdale Bank & Trust Company Statement Savings - $200 bonus

Back for 2022, Hinsdale Bank & Trust Company is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Hinsdale Bank & Trust Company : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Hinsdale Bank & Trust Company

203. Elgin State Bank Total Access Checking - $300 bonus

Back for 2022, Elgin State Bank is offering $300 to new Total Access Checking customers after they meet direct deposit requirements and enroll in online banking and e-statements. It's a solid bonus with easy requirements, so if you live in their footprint, we recommend grabbing this offer!

Keep in mind that if you earn this bonus, you're no longer eligible for any similar bonuses with Wintrust's subsidiaries. You can; however, stack this with their Statement Savings bonus for $500 total.

Elgin State Bank : Total Access Checking

Bonus Amount
$300
Account Type
Personal Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Total Access Checking account using the link below.
  2. Enroll in online banking and eStatements.
  3. Receive direct deposits totaling $500 each month for the 2 consecutive months after the month you opened the account.
  4. Bonus will be deposited into your new account within 30 days after the qualification period.
Apply Now

at Elgin State Bank

204. Elgin State Bank Statement Savings - $200 bonus

Back for 2022, Elgin State Bank is offering a $200 welcome bonus when you open a new Statement Savings account and make new deposits totaling $15,000 or more. Want to earn more? You can stack this offer with their checking account bonus to earn a total of $500. Keep in mind that you may only be eligible for 1 bonus of this type across all Wintrust Community Trust banks.

Elgin State Bank : Statement Savings

Bonus Amount
$200
Account Type
Personal Savings
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Statement Savings account using the link below or tell the banker you are aware of this offer at account opening.
  2. Deposit $15,000.00 or more of new money, defined as money not held at any WTFC location.
  3. Maintain a minimum balance of at least $15,000.00 on the last business day of each of the 3 consecutive calendar months following the calendar month your new account is opened.
  4. Bonus will be deposited into your new account within 30 calendar days after the 3-month Qualification Period.
Apply Now

at Elgin State Bank

205. UNIFY Financial Credit Union Personal Checking - up to $250 bonus

If you live in Benton County or Washington County, Arkansas, UNIFY Financial Credit Union is offering up to a $250 welcome bonus when you open a new personal checking account. This is a tiered bonus, meaning the more activities you complete, the more you can earn. You'll need both a direct deposit and debit card spend to reach the max bonus amount. As stated above, while membership to UNIFY Financial can be achieved nationwide, this bonus offer is only available to residents in 1 of 2 select counties in Northwest Arkansas.

UNIFY Financial Credit Union : Personal Checking

Bonus Amount
up to $250
Account Type
Personal Checking
Availability
AR
Offer Expires
December 31, 2022
Bonus Requirements
  1. Become a member of UNIFY FCU and open a new Free or eChecking checking account with a UNIFY Visa Debit Card and receive a $100 bonus into your checking account following the first statement cycle.
  2. An additional $50 bonus will be credited to the checking account following the first statement cycle.
  3. Within 60 days, establish a recurring ACH Direct Deposit of at least $500 aggregate each month, earn another $50.
  4. With 60 days of account opening, earn a $1 for every debit card purchase over $5, up to $50 total.
  5. Bonus will be credited to the checking account in the statement cycle following the 60th day.
Apply Now

at UNIFY Financial Credit Union

206. Bank of America Business Checking - $200 bonus

Bank of America is offering a $200 welcome bonus when you open a new business checking account and maintain a minimum balance. What's even more? You can stack this offer with an eligible small business credit card for an extra $300 bonus to earn a total of $500.

Bank of America : Business Checking

Bonus Amount
$200
Account Type
Business Checking
Availability
Nationwide
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Business Advantage Relationship Banking or Business Advantage Fundamentals™ Banking account.
  2. Within 30 days, make qualifying deposits of $3,000 or more in new money.
  3. From day 31- day 90, maintain an average balance of $3,000.
  4. Bonus will be deposited directly into your Business Advantage Banking account within 60 days from the end of your qualifying period.
Apply Now

at Bank of America

207. Bank of America Business Checking - $100 bonus

Bank of America is offering a $100 welcome bonus when you open a new business checking account and maintain a minimum balance. What's even more? You can stack this offer with an eligible small business credit card for an extra $300 bonus to earn a total of $400.

Bank of America : Business Checking

Bonus Amount
$100
Account Type
Business Checking
Availability
Nationwide
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Business Advantage Relationship Banking or Business Advantage Fundamentals™ Banking account.
  2. Within 30 days, make qualifying deposits of $1,000 or more in new money.
  3. From day 31- day 90, maintain an average balance of $1,000.
  4. Bonus will be deposited directly into your Business Advantage Banking account within 60 days from the end of your qualifying period.
Apply Now

at Bank of America

208. Wintrust Bank Entrepreneur Checking - $300 bonus

Wintrust Community Bank is offering small business owners a $300 sign up bonus for opening a new Entrepreneur Checking account.

You'll need to open the account in-branch and mention to the teller that you want to take part in this offer. After that the requirements are pretty straightforward: deposit and maintain $1,500 for 2 months, and complete 5 qualifying transactions each month. Qualifying transactions include ACH debits and credits, wire transfers, and debit card transactions, so that should be an easy requirement to meet.

Wintrust Bank : Entrepreneur Checking

Bonus Amount
$300
Account Type
Business Checking
Availability
IL
Offer Expires
December 31, 2022
Bonus Requirements
  1. Open a new Entrepreneur Checking account and tell the bank you're aware of this offer.
  2. Enroll in online banking and eStatements.
  3. For 2 consecutive months, maintain a balance of $1,500.
  4. In the same 2 months, complete 5 qualifying transactions (ACH debit, ACH credit, wire transfer and debit card transactions).
  5. Bonus will be credited to your new account within 30 calendar days of meeting requirements.
Learn More

at Wintrust Bank

209. United States Senate Federal Credit Union Personal Checking - up to $200 bonus

Available nationwide (via membership with the American Consumer Council) with the ability to open online, United States Senate Federal Credit Union is offering up to $200 in welcome bonuses when you open a new Senate Checking account and set up direct deposit.

United States Senate Federal Credit Union : Personal Checking

Bonus Amount
up to $200
Account Type
Personal Checking
Availability
Nationwide
Offer Expires
December 31, 2022
Bonus Requirements
  1. Become a member of United States Senate Federal Credit Union using promo code "BONUS", earn $25.
  2. Within 5 days, open a Senate Checking account and opt to receive a free Visa® debit card, earn $25.
  3. Within 30 days of application, receive a direct deposit of $250 or more, earn $150.
  4. Bonus will be deposited within 60 business days of membership application date.
Apply Now

at United States Senate Federal Credit Union

210. PeoplesBank Personal Checking - $200 bonus

Available to both new and existing customers (that haven't had a checking accounting past 2 years), PeoplesBank is offering a $200 welcome bonus when you open a new personal checking account and set up direct deposit. Better hurry fast! This offer is ending January 31st!

PeoplesBank : Personal Checking

Bonus Amount
$200
Account Type
Personal Checking
Availability
PA, MD
Offer Expires
January 31, 2023
Bonus Requirements
  1. Be a new or existing client to PeoplesBank (if you have not had a personal checking account with PeoplesBank in the past 24 months).
  2. Open a Momentum or PrimeTime Checking account at the link below.
  3. Within 45 days, receive at least one direct deposit of $350 or more.
  4. Bonus will be paid in the form of a statement credit provided within 2 statement cycles after all of the requirements have been met.
Apply Now

at PeoplesBank

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.

Calculator: Bank Bonus APY

If you’re eyeing a new savings, investment or checking account bonus, you may be wondering how to analyze some of the above factors to determine whether it’s a worthwhile offer.

It’s true that bank bonuses will very often give you an effective interest rate that is WAY higher than any HYSA, while still being low risk compared to the short-term volatility of say, the stock market.

But, as we said, that’s not the case for every offer, so we recommend you always run the numbers for yourself.

And, like always, we’re here to help with that.

If you have cash sitting in a savings account that you’re considering using to meet a minimum balance bonus requirement, this calculator will help you compare the APY of your savings account versus the cash reward.

What's the total amount you'll receive?

$

What's the minimum balance you're required to hold in the new account?

$

How long are you required to hold the balance in the new account in order to earn the bonus?

What fees will you incur while having the account? Don't include fees that will be waived or those that are avoidable, such as overdraft fees.

Already have your savings parked in a HYSA? Enter the rate you're earning to compare the bonus to that instead of the national average.

%

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 a high-yield savings account that earns a significant Annual Percentage Yield (APY), you might be losing money in the long run.

These days, however, most deposit and savings account don’t offer great interest rates – particularly those from big national banks.

So bank bonuses are very often a fantastic way to put your savings to work. Check out our Bank Bonus Return Calculator to determine for yourself the effective rate of a welcome offer and how it compares to your HYSA.

That tool also lets you factor in any fees that might come with your new account.

These might include a monthly maintenance fee or, in the case of free checking accounts, check writing or ATM fees that might 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 Account Types

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.