Best Bank Account Bonuses and Promotions of January 2024

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Bank account bonuses, lucrative and hassle-free. Open an account today and get rewarded up to $200 today!

Intro bonus: $300
Intro bonus: $50-300
Intro Bonus: $300
  • Bonus Offer: $300
  • Minimum Deposit: $500
  • Direct Deposit: Yes
  • Expiration Date: 4/17/24
  • Bonus Offer: $50-$300
  • Minimum Deposit: $1,000-$5,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
  • Bank Bonus: $400
  • Minimum Deposit: $2,000
  • Direct Deposit: No
  • Expiration Date: 4/18/24
  • Bonus Offer: Up to $300
  • Minimum Deposit: $7,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
Intro bonus: $300
  • Bonus Offer: $300
  • Minimum Deposit: $500
  • Direct Deposit: Yes
  • Expiration Date: 4/17/24
Intro bonus: $50-300
  • Bonus Offer: $50-$300
  • Minimum Deposit: $1,000-$5,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24
Intro Bonus: $400
  • Bank Bonus: $400
  • Minimum Deposit: $2,000
  • Direct Deposit: No
  • Expiration Date: 4/18/24
Intro Bonus: $300
  • Bonus Offer: Up to $300
  • Minimum Deposit: $7,000
  • Direct Deposit: Yes
  • Expiration Date: 6/30/24

Thinking of elevating your banking experience? Dive into the best bank account bonuses available. From cold hard cash to rewards that'll make your wallet happy, we've got the scoop on the top bank account bonuses currently available.

So, say goodbye to boring banking and hello to a new bank account that truly rewards you. Get ready to score big with our list of the best bank promotions. Are you ready to find out how much of a bonus you’re eligible for by opening a new account?

Best Bank Account Bonuses (Our Top Picks)

Finding bank bonuses on your own can be difficult, but we did all the work for you. Here are some real bank bonuses you can take advantage of:

Expires: April 17th, 2024

Chase Total Checking®

chase best bank account bonus
(up to $300 bank bonus – our pick 🏆)

You can get a $300 bonus when you open a Chase Total Checking account and set up direct deposits totaling $500 or more within 90 days.

This account comes with a $12 monthly service fee: but it can be avoided with monthly direct deposits totaling $500 or maintain a balance of $1,500 or more in your account.

Securing this bank account bonus is simple. Once you've fulfilled the necessary criteria, your bonus will be credited within 15 business days.

Expires: June 30th, 2024

SoFi Checkings & Savings

sofi best bank account bonus
(up to $300 bank bonus)

SoFi has introduced an enticing offer for both new and current customers of SoFi Checking & Savings, where they can earn a bonus of up to $300.

To be eligible, customers must establish a direct deposit, which can be done anytime before the promotion's expiration.

The bonus is tiered, meaning the amount earned increases with the amount of the direct deposit:

Direct Deposits within 25 daysCash bonus
$1,000 – $4,999$50
$5,000 or more$300

Plus, earn up to 4.60% APY, free overdraft coverage, no account fees, and get paid up to 2 days early.

Earn $300 bonus
SoFi Checking & Savings

SoFi Checking and Savings is a combination checking and savings account offered by SoFi Bank. SoFi is an online bank that offers a variety of financial services, including loans, investments, and insurance. Right now you can earn more on your money with up to a 4.60% APY on all your savings balances and .50% APY on all your checking balances, too. Plus, pay no account or overdraft fees, get 2-day-early-paycheck, a $300 welcome bonus and more.

Expires: April 18th, 2024

Chase Business Complete Checking℠

chase for business best bank account bonus
($400 bank bonus)

This is one of the better business checking promotions currently available from Chase. Simply maintain a minimum balance of $2,000 for 60 days after opening your new Chase Business Complete Banking℠ account to earn $400 in bonus cash.

You’ll also need to make 5 qualifying transactions within the first 90 days and have those funds front and center within the first month. Chase makes it easy to save for your business with the Chase Business Complete Banking℠ account. You can open the account online or enroll in person by entering your email and receiving a promotional code. Once you complete the requirements for the bonus, your bonus will be credited to your account within 15 days.

Expires: December 31st, 2023

Axos Bank® Rewards Checking

axos savings account best bank account bonus
(up to $300 bank bonus)

Open an Axos Bank Rewards Checking by 06/30/2024 to take advantage of up to a $300 bonus. You will need to use the code AXOS300 to claim this offer. 

To qualify for this Axos bank promotion, you must open your new Rewards Checking account and have qualifying direct deposits that total at least $5,000.00 each calendar month for the first seven calendar months your account is open.

You must also maintain a minimum average daily balance of $7,000 from September 2023 through March 2024. This is a pretty difficult bank bonus to achieve, but if you fulfill the requirements, the bonus will be deposited into your Axos Bank Rewards Checking account within 10 business days after that statement cycle ends. You will earn up to six payouts of $50 each month for seven months (a potential total of $300).

Earn $300 bonus
Axos Bank® Rewards Checking

A free account with unlimited ATM fee reimbursements. You don't have to worry about keeping a minimum balance with Axos' Rewards Checking. As with the bank's other checking accounts, there are no monthly fees, and all fees charged by domestic ATM operators are reimbursed. Axos doesn't charge any ATM fees itself.

VISIT AXOS-➤ Read Review
Expires: April 17th, 2024

Chase Private Client℠

chase bank best bank account bonus
(up to $3,000 bank bonus)

Unlock a bonus of up to $3,000 by opening a Chase Private Client Checking℠ account before April 17th, 2024.

For eligibility:

  1. Schedule a meeting with a Private Client Banker before April 17th, 2024.
  2. Within 45 days, deposit at least a total of $150,000, in cash or securities, from external institutions to Chase.

Be mindful that the Chase Private Client Checking℠ account carries a $35 monthly service charge. This fee is waived if you maintain a balance of $150,000 or more either in this account or across linked deposit or investment accounts at Chase. Additionally, having a connected Chase Platinum business checking account can help avoid this fee.

Meet these guidelines gives you the following bonus:

  • Deposit $150,000 to $249,999 and receive $1,000.
  • Deposit $250,000 to $499,999 and get $2,000.
  • Deposit $500,000 or above and secure $3,000.
Largest bank bonus
Chase Private Client Checking℠- $3,000 Bonus
  • You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
  • Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker who is ready to help you.
  • Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000.
  • No ATM fees worldwide.
  • No Chase fee on incoming or outgoing wire transfers.
  • Enjoy higher limits on Chase Private Client Checking℠ debit card purchases and ATM withdrawals, as well as higher Zelle® and Chase QuickDeposit℠ limits.
Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.
Expires: April 17th, 2024

Chase Secure Banking

chase bank best bank account bonus
(up to $100 bank bonus)

A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions within 60 days.

Qualifying transactions include debit card purchases, Zelle®, ACH credits, Chase QuickDeposit or online bill payments.

The account comes with a $4.95 maintenance fee.

This account includes no fees for overdrafts, cashier’s checks, or money orders. Once you complete the requirements, you will get your $100 bonus within 15 days.

This is one of the easiest Chase bank promotions to take advantage of.

Earn $100 bonus
Chase Secure Banking℠

A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions (debit card purchases, online bill payments, etc) within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days.

Expires: Limited Time

Upgrade Cash Rewards Visa®

upgrade best bank account bonus
($200 bank bonus)

If you want a bank bonus that doesn't require a direct deposit, this is the one. You'll earn a $200 welcome bonus when you apply for an Upgrade Card and then open a new Rewards Checking account.

To be eligible for this promotion, you'll need to sign up for their Upgrade Card first. This card is a cross between a credit card and line of credit. Next, you'll need to open a free Rewards Checking account. Finally, you'll only have to make three transactions with either your Upgrade Card or your new debit card.

All things considered, this is a bonus that requires little effort to earn. While it's possible opening a line of credit results in a hard credit pull, we have seen Upgrade only do soft pulls based on customer input. Compared to other cash offers, this one is significantly higher and does not have any requirements such as a direct deposit, minimum balance, or monthly fees. It's a legit offer.

Earn $200 bonus
Upgrade Cash Rewards Visa®

This hybrid credit card/personal loan product expands your options and offers a lot of flexibility. But if you have at least fair credit, you might qualify for cards with more benefits or loans with better terms.


Expires: Limited Time


acorns best bank account bonus
($20 investment bonus)

Acorns is one of the most popular micro-investing platforms. Acorns lets you turn your spare change into investments by stacking up your change over time and with the Acorns “round-up” feature.

With Acorns, you can invest at your own pace in smart portfolios and maximize your growth and costs $3 per month. Acorns also provides a checking account that has many of the features of a traditional bank account including, direct deposit, mobile check deposit, a debit card for you or your kids, and fee-free withdrawal from over 55,000 Allpoint ATMs around the world.

Sounds like fun? Sign up for Acorns, collect your $20, and double your money by investing. You can also get a registration bonus through here when you set up recurring investments.

Earn $20 bonus

With Acorns, you can easily invest your spare change. Anyone can “squirrel” away some money and become an investor with Acorns. Enjoy a $20 welcome bonus when you open a new Invest account and set up recurring investments.

Expires: March 31, 2024

Fifth Third Momentum® Banking

fifth third bank best bank account bonus
($325 bank bonus)

Fifth Third Bank is available in 11 states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, and West Virginia. If you are lucky enough to be living in one of those states, right now you can earn $325.

Here's how: Simply open a Fifth Third Momentum® Banking checking account and make direct deposits totaling $500 or more within 90 days of account opening.

This is Fifth Third Bank's most popular check account with no minimum balance required and no minimum deposit to open your account. The $325 bonus will be added to your new account within 10 business days of completing the easy qualifying activity of setting up direct deposit.

Sign up for a new account through here to take advantage of their diverse range of products and top-performing mobile app. Boost your experience with their generous bank sign-up bonus, making Fifth Third a smart choice for your banking needs.

$325 welcome bonus
Fifth Third Momentum® Banking

Explore the benefits of Fifth Third Bank's Momentum Checking: no monthly fees, no minimum deposits or balance requirements. Get paychecks and tax refunds faster with Early Pay, and access quick cash advances with MyAdvance, without credit checks. You can also get a $325 bonus when you open an account and make direct deposits totaling $500 or more within 90 days of account opening.


Other Notable Bank Bonuses

Robinhood – Free stock

Expires: Limited Time
robinhood best bank account bonus

Robinhood offers free investing for everyone with commission-free investing, plus the tools you need to put your money in motion. Sign up and get your first stock for free worth up to $200.

And more free stock (up to a $200 value) every time one of your friends opens a Robinhood account from your promotional link. That’s up to $1,000 in free stock every year.

If you join through this link, you’ll earn a specified dollar amount and be able to pick your gift stock from a list of 18 of America’s leading companies.

The value of the fractional share may be anywhere between $5.00 and $200 and fluctuates based on market movements.

> Apply now to earn the free stock bonus from Robinhood

Bank of America – Checking Account– $200 Bonus

There are a ton of Bank of America promotions, just like this one. You’ll need to enter code TWA200CIS in order to earn $200 from opening a new account with Bank of America. This bank requires you to deposit at least $2,000 into that account within 90 days of opening it, and you’ll need anywhere from $25 to $100 for a minimum deposit. 

The minimum deposit required depends on which type of account you choose from the following:

  • Bank of America Advantage SafeBalance Banking 
  • Bank of America Advantage Plus Banking
  • Bank of America Advantage Relationship Banking

There are ways to avoid the monthly maintenance fees, which range from $4.99 to $25 per month depending on account type. However, you will need to take advantage of this offer before December 31st to qualify for this low entry offer.

View offer at BOA

Alliant Credit Union – Checking Account – $100 After a Year

Alliant Credit Union allows you to earn up to $100 if you open a new account by the end of 2024. If you deposit $100 per month for the next year, they will reward you with the $100 bonus once you’ve hit the 12-month mark. 

To be eligible for this reward, you do have to make your first transfer within 30 days of opening your account. However, you can avoid monthly maintenance fees by opting for eStatements. 

If savings is a goal of yours, this checking account from Alliant Credit Union can help you save $1,200 in one year, with the added bonus of $100 bringing your yearly savings to $1,300 total. That’s enough to knock out some heavy credit card debt if necessary. 

Alliant Credit Union offers one of the best CD rates as well if you are looking for a jumbo certificate. Alliant Credit Union allows you to earn up to 5.45% APY on your balance.

View offer at Alliant

Citi Priority Account – Checking Account – up to $2,000 Bonus

You can also earn up to $2,000 if you open a Citi Priority Account with some of the same requirements as the Citigold Checking Account. If you don’t maintain a monthly balance of $30,000 or more in your direct deposit, retirement, and investment accounts, you will have to pay a $30 monthly maintenance fee. 

View offer at Citi Gold

Citigold – Checking Account – up to $2,000 Bonus

Citigold offers one of the top bank account promotions, of up to $2,000 in rewards. You’ll need to deposit at least $300,000 into your account to receive this amount, but even a balance of $10,000 to $29,999 can earn you $200. 

Opening your account is easy: you have to be at least 18 years old and meet the minimum balance requirements. To earn your $2,000 in rewards, you’ll need to open your new Citigold Checking Account with a deposit of $10,000 or more within 20 days. Maintain that balance for 60 days to receive your cash bonus 30 days after you complete the requirements. 

View offer at Citi Gold

Citizens Bank – Checking Account – up to $400 Bonus

Residents of the following states are eligible to earn up to $400 by opening a new Citizens Bank account:

Accounts must have a direct deposit of $500 or more within 60 days to get $300. You can also earn an additional $100 just by using your debit card for purchases. For every transaction within the 60 days, you’ll get $2 in rewards, up to $100.  

View offer at Citizens Bank

Columbia Bank Advantage Plus Checking – Checking Account – up to $200 Bonus

If you have $1,000, you can deposit it into your new Columbia Bank Advantage Plus Checking account to earn a $200 bonus. You’ll also have to make at least 10 debit card transactions or maintain a $500 balance to waive the $9 service fee. Bonuses are credited within 60 days of completing the requirements. 

View offer at Columbia Bank

Discover Bank – Savings Account – up to $200 Bonus

Looking for savings account bonuses? Discover Bank offers its new customers the opportunity to escape monthly maintenance fees, insufficient fund fees, and minimum opening deposits by opening an account by December 15. You can earn a high rate of interest on your savings accounts as well. 

You’ll need to deposit at least $15,000 within the first month of opening your account to receive $150. If you deposit $10,000 more than that in the same time period, you can earn $200 in rewards, which are credited to your account within 30 days.

View offer at Discover

Fidelity Bank – Banking – up to $525 Bonus

A minimum of $25 is required to open a new Fidelity Bank account. You’ll also need to set up a direct deposit to earn. Rewards of $200 require you to make 15 transactions per month, sign up for EZ Statements, enroll in online banking, and direct deposit at least $2,500 or more for 3 consecutive months. 

You can also receive $200 for opening a Money Market account MMDA at the same time and depositing $15,000 or more. If you use your Fidelity Visa Debit Card 60 times over 3 consecutive months, in addition to your 15 transactions above, you can earn an additional $100. 

Opening your account online, in addition to all these actions, will round out your bonus to $525. You can also waive the $7 monthly fee associated with the Reliance Checking account by maintaining a balance of $1,500 or more, direct depositing $400 or more per month, or performing 10 transactions or more in 30 days.

View offer at Fidelity Bank

FirstBank Bloom – Banking – $300 Bonus

Residents of Colorado, Arizona, and California can take advantage of a $300 bonus for opening a new account with FirstBank Bloom. This bank account must be opened by December 31st to qualify, as well as have at least one deposit of $500 or more for 3 consecutive months. You’ll also have to keep the account open for a year if you want to keep the bonus. 

View offer at FirstBank

Fulton Bank – Simply Checking Account– $200 Bonus

Fulton Bank might say no to minimum balances, transaction requirements, and annual fees, but it says yes to new customers with a $200 welcome bonus. You’ll have to open your account with $25 to start and set up direct deposits of $500 or more within the first 60 days of opening your account. Plus, you’ll need to make at least 15 debit card transactions within the first 60 days as well to spend $300 or more in total.

View offer at Fulton Bank

HSBC – Premier Checking – $500 Bonus

Open your new Premier Checking account from HSBC by February of next year to earn $500. Direct deposits of at least $10,000 or more are required from a third party for 90 consecutive days from the second full calendar month after account opening. 

You may be subject to a monthly maintenance fee. However, the $500 bonus is deposited into your account within 8 weeks of completing the requirements for this reward. 

View offer at HSBC

Huntington – Perks Checking – $200 Bonus

As long as you can keep your account open for 90 days and make deposits of at least $1,000 or more within 60 days, you can earn $200 from Huntington Perks Checking. This discount applies to residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin who open their accounts online or in person.

View offer at Huntington

Huntington – Platinum Perks Checking – $300 Bonus

If you’re able to deposit at least $25,000 within 60 days of opening your new bank account, you should bank with Huntington Platinum Perks Checking. This bank requires you to keep your money in the account for 90 days, but you can waive the maintenance fee if you meet certain conditions.

View offer at Huntington

24. PNC Bank – Banking – up to $400 Promotion

Open an account with PNC Bank by Halloween to earn up to $400 in rewards. You’ll need to deposit at least $2,000 to earn $200 and $5,000 to earn $400. There are 3 tiers within this promotion, with different direct deposit accounts and account types.

View offer at PNC

Sandy Spring Bank – Banking – up to $200 Promotion

A whopping $200 is up for grabs for new customers of Sandy Spring Bank, which is offering this reward for opening an account and establishing a direct deposit of $500 or more within the first 45 days of opening the account. You’ll have to deposit at least $500 for the next 4 months to qualify for the $200. Within 125 days, you should receive your reward, but only if you’re a resident of certain states. See Sandy Spring Bank’s website for more details.

View offer at Sandy Spring

South State Bank – Checking Account – $200 Promotion

Register for a new checking account before the end of the month to earn $200. You’ll have to make a minimum of 15 purchases with your South State Bank debit card within 60 days, as well as have a monthly total of $250 direct deposit or a preauthorized automatic draft of $25. Residents of Alabama, Florida, Georgia, North and South Carolina, and Virginia are eligible. 

View offer at South State Bank

Teachers Federal Credit Union – Banking – up to $400 Promotion

Earn up to $400 by opening a new account and directly depositing at least $2,500 within the first 2 months of opening your new Teachers Federal Credit Union account. Enroll in digital banking and eStatements with offer code OFFER400 by September 30th to take advantage of this bonus, which allows you to earn an additional $100 by spending $500 in purchases with your new debit card within 60 days.

View offer at Teachers Federal Credit Union

UNIFY Financial Credit Union – Checking Account – up to $250 Bonus Reward

Residents of Collin County, Texas can receive $50 for opening a qualifying checking account with UNIFY Financial Credit Union and signing up for recurring ACH direct deposits of at least $500 or more each month. Complete these tasks within 60 days of opening the account to earn $50 towards your $150 amount.

You can earn the final $50 by completing transactions with your UNIFY Visa Debit Card within the first 2 months of opening it, to bring your rewards to $150 total. Each transaction gets you $1 in bonus rewards as long as the transactions are above $5. 

There are no minimum balances required, and you’ll also get a free membership to the Surfrider Foundation or Friends of Hobbs. Note, the offer expired on 12/31/21 but the bank bonus page is still live.

View offer at UNIFY

Wells Fargo – Checking Account – $300 Bonus Reward

Open an Everyday Checking account online by depositing $25 or more by September 26, 2023. Receiving a total of $1,000 in direct deposits within the first 3 months will qualify you for a $200 bonus.

Plus, you can waive the $10 monthly fee if you complete one of four stipulations. Two common ones include keeping an account minimum of $500 and receiving that same amount in direct deposits each period.

View offer at Wells Fargo

BMO Harris Bank – Checking Account – up to $500 Bonus

Earning up to $500 is easy with BMO Harris Checking. You’ll need to act fast, though, as the promotion ends at the end of October.

Open a BMO Harris Smart Advantage Account to earn up to $300 in rewards. You’ll have to make $4,000 or more in qualifying deposits. Plus, you can waive the minimum balance requirements and monthly fees by signing up for paperless statements. Go online or visit a local branch to apply. 

If you open a BMO Harris Smart Premier Account, you can earn up to $500. You’ll need to maintain a $10,000 minimum daily balance or a $25,000 combined balance between your accounts. A deposit of at least $7,500 is required within 90 days of opening your account to receive your bonus of $500 within 100 days of completing the requirements.

View offer at BMO Harris

Expired Bank Bonuses

The following best bank account promos have expired:


Live Oak Business Savings – Business Savings – $300 Bonus [EXPIRED]

Banking online is easy with the Live Oak Business Savings account. This account allows you to earn up to 4.00% APY without a deposit minimum.

Opening a bank account with Live Oak does require you to submit both personal and business information, including the bank account from which you’ll be transferring funds.

Once this bank account is verified, you can transfer money between accounts. You can also deposit funds through the mobile app, mail, or even use a wire transfer.

Overdrafts are $25 per and you won’t be able to use a connected checking account from Live Oak or an ATM card. 

> Apply now to earn the $300 bonus from Live Oak Business Savings

Axos Investing – $200 Bonus [EXPIRED]

Expires: Limited Time
axos savings account

With consumers self-directing their stock buying now more than ever, several large banks are looking to adapt and offer these services.

Given this, Axos is enhancing its investment platform: Axos Self-Directed. With this service, users can enjoy commission-free trades.

It competes with Chase, Charles Schwab, Fidelity, and TD Ameritrade, as well as online brokerages such as Robinhood.

Axos is giving new customers of its Self-Directed Trading or Managed Portfolio services a $200 incentive for a limited time. The deposit amount has now been reduced to its smallest level ever, so go check it out!

All you have to do is once your account is open, you’ve got 60 days to deposit as little as $2,000. And if you’ve got a Self-Directed Trading account, you must complete at least two trades.

You did it. $200 will be deposited into your new account after your first two trades.

> Apply now to earn the $200 bonus from Axos

Revolut – Banking – $10 Bonus [Expired]

Here’s a present from Revolut which is one of the easiest checking account bonuses right now to claim. You can now unwrap $10 on them. That's right, get $10 with all newly approved accounts.

Revolut gives you a $10 bonus upon account approval after using the Revolut card. Testing this offer, I received $10 instantly through this link after opening account and making a qualifying transaction of at least $1.

Just finish the two minute application and take its award-winning tools and platform for a spin. Make your first virtual or physical Revolut card payment to receive $10 credited to your Revolut account.

Claim $10 Revolut bonus

Bank of the West Checking – Checking Account – $250 Bonus [Expired]

Bank of the West’s $250 bank bonus offer expires September 30th, so hurry to take advantage of these earnings by opening a checking account and depositing $1,000 or more per month within the first 90 days. 

Bank accounts with Bank of the West have no monthly fees or minimum balances (besides the one above). These accounts are only available in select states, including California, Colorado, Kansas, Minnesota, Nevada, North and South Dakota, Oklahoma, and Wyoming. See Bank of the West’s website for more details. 

View offer at Bank of the West 

UMB Bank – Banking – up to $300 Bonus Reward [Expired]

Fund your new UMB Bank account with $100 or more to receive a $300 reward. You’ll also need to receive direct deposits of more than $2,000 within 60 days of funding your account, maintain your account for 130 days, and act before September 30th, when this perk expires. 

Eligible customers are residents of Arizona, Colorado, Illinois, Missouri, Nebraska, Oklahoma, Kansas, or Texas. 

What Are Bank Account Bonuses

Banking account bonuses vary from one company to the next, but many include some sort of perk for opening up an account. These banks want to earn your business, so they may offer you a cash bonus when you sign up for a new checking account

Bank promotions are a great way to earn extra money just by having a bank account. Typically you don’t have to jump through a lot of hoops to open a bank account, though you should read the fine print carefully before you sign on the dotted line. 

It’s also important to verify your eligibility for a new checking account cash bonus. Most banks will stipulate what you need to do to earn the bonus. However, you can also clarify any concerns or questions you might have with the banker if/when you open a checking account in person. 

You can also open a new checking account online and still take advantage of these offers. In fact, some banks may waive any fees associated with opening an account if you sign up through these particular promotions. 

Are Bank Bonuses Worth It?

Stretching our dollars further is top of mind for most folks these days. Bank bonuses can be a lucrative way to open a checking account and get rewarded for it, depending on which bank you choose. At the same time, finding these promotions and then figuring out which ones fit your lifestyle can be a difficult task. 

Our guide breaks through all the terms and conditions jargon to bring you some of the best bank bonuses and promotions you can take advantage of today. While several of them do have a time limit on them, you should take advantage of these offers sooner rather than later (as long as it makes sense, of course). You can easily earn a few extra dollars to put towards your savings just by signing up for a new checking account. 

Bank Bonus Ultimate FAQs

Are bank account bonuses worth it?

A bank account bonus is an incentive offered by financial institutions, including banks and credit unions, to attract new customers. When you open a new account, such as a personal checking account or savings account, the bank may offer you cash bonuses or other rewards.

Bank account bonuses can be worth it as long as it makes sense for your situation. If you’re looking for a new bank, that’s a great time to take advantage of a welcome bonus. However, you shouldn’t move money around a lot just to earn a few extra hundred dollars.

What are the best bank bonuses out there? 

Citi offers one of the best bank bonuses out there. You can earn up to $2,000 for their Priority Account, but you can also earn $500 with the BMO Harris Smart Premier Account. Fidelity Bank will also award you with up to $525 if you qualify.

How do I qualify for bank bonuses? 

To qualify for most bank bonuses, you often need to:

1) Open an account, whether it's a personal checking account, savings account, business checking account, or even a money market account.
2) Meet certain requirements like setting up a direct deposit, maintaining a minimum balance, or making a specific number of debit card purchases.
3) Ensure the account stays in good standing, avoiding any negative balance. 

Are there any types of bank accounts that typically offer bonuses?

Yes, banks frequently offer bonuses for various types of accounts including:
Personal checking accounts
Savings accounts
Business checking accounts
Money market accounts

Do all banks offer sign-up bonuses?

While many major banks like Bank of America, TD Bank, Citi, SoFi, Capital One, CIT Bank and Chase offer bonuses, especially for new checking account customers or new business checking accounts, not every financial institution does. It's always a good idea to check current bank promotions and terms.

How soon after account opening will I receive my bonus?

This varies by bank, but typically the bonus will be deposited into your account within days of meeting the qualifying criteria, which might involve direct deposit requirements or a specific number of online bill payments. Some banks might require you to receive qualifying direct deposits within 60 days of account opening.

Are bank bonuses taxable?

Yes, bank bonuses are generally considered taxable income. Financial institutions might send you a 1099-INT form reporting the bonus. It's always wise to consult with a tax professional regarding any income-related questions.

Is there a way to avoid monthly fees on my new account?

Most banks and credit unions offer ways to waive the monthly service fee, often by maintaining a minimum balance, setting up regular direct deposits, or linking to other eligible accounts.

Can I earn bonuses from multiple banks?

Yes, as long as you meet the criteria for each bank. Just ensure you're not closing and reopening accounts too frequently, as this might impact your credit report or get flagged by ChexSystems.

Are online banks also offering bonuses?

Absolutely! Online banks, like Discover Online Savings Account, often have competitive promotions. They might have different criteria, such as cumulative new money deposits within a specified period.

How does a bank bonus for a business checking account differ from a personal one?

The core concept is similar, but the requirements might vary. Business checking bonuses might require larger deposits, specific transaction volumes, or business-related debit card purchases.

Any other tips to maximize bank promotions?

Always read the terms and conditions. Ensure you can comfortably meet requirements without incurring unnecessary fees. And don't forget to compare offers from both banks and credit unions promotions to find the one best suited to your financial needs.

Bank Your Bonus to Increase Your Savings

Taking advantage of a bank account bonus can help you earn extra money without having to do much in return. We hope you’ve found this article useful in finding bank account promotions you can profit from just by opening a new account. There’s a lot of money out there for the taking, it just takes knowing where to look.

If you're still looking for more promotions, consider looking at the best app bonuses we've rounded up.

Other Bank Promotions:
Earn $300 bonus
Axos Bank® Rewards Checking

A free account with unlimited ATM fee reimbursements. You don't have to worry about keeping a minimum balance with Axos' Rewards Checking. As with the bank's other checking accounts, there are no monthly fees, and all fees charged by domestic ATM operators are reimbursed. Axos doesn't charge any ATM fees itself.

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About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News,, Quick Sprout, Money Geek, MSN Money and many more!