These 3 Banks Are Offering New Account Bonuses That Are Easy to Earn

Bank bonuses can be a great way to get some extra money in your account. But some of them are hard to earn, as they require you to deposit tons of money.

The good news, though, is that some banks don't make you do much to earn a bonus outside of just becoming a customer. Here are three examples of banks offering new account bonuses that most people should be able to earn.

1. Fifth Third Bank

Fifth Third Bank has the easiest bonus of any accounts on this list. You can qualify for it if you haven't had an ownership interest in a Fifth Third Bank account in the last 13 months, Here's what you need to know about the details:

• Bonus amount: $200
• Offer valid: Through June 30, 2024
• Requirements: Open a Fifth Third Momentum® Checking or Preferred checking account and make combined direct deposits of $500 or more within 90 days of opening your account. You'll also need a unique offer code, which is automatically applied when you open your account (or you can enter your email address to have it sent to your email if you aren't ready to open your account yet).

The direct deposits must come from a payroll deposit or government benefits. Your bonus will be deposited into your account within 10 days of meeting the requirements, as long as your account is open and in good standing.

Is this account worth opening?

Fifth Third Bank has plenty of great features beyond the easy-to-earn bonus. There's no fee to open the account, no minimum deposit required, and no fees at more than 40,000 partner ATMs (this is a smaller network than some competitors, but still not too bad).

You also benefit from no overdraft fees within the first 90 days, as well as extra time to avoid overdrafts once that deal expires. And you get free Early Pay so you can get your paycheck up to two days before your scheduled payment date.

Now, unlike some banks that never charge overdraft fees, you still risk getting hit with these charges in the future. But if you're able to avoid that, this account is one of the best on this list. You'll also earn a 0.01% annual percentage yield, which isn't that impressive but some checking accounts pay no interest at all.

2. Citi® checking account with enhanced direct deposits

Citibank is running a great promotional offer that started in January of this year and goes through July. You can qualify for the bonus by opening one of several Citibank checking accounts including Access Checking and Regular Checking. You can't have had an account with the bank within the past 365 days, though.

Here are the details:

• Bonus amount: $300
• Offer valid: Through July 8, 2024
• Requirements: Deposit at least two new enhanced direct deposits within 90 calendar days of opening the account. The direct deposits must have a total combined balance of $1,500 or more.

Enhanced direct deposits are ACH deposits made by entities like your employer or the government. But, Citibank also provides the bonus if you make direct deposits via Zelle, or do an ACH transfer using Venmo or PayPal. This means even if you don't get paid by a typical employer, you can qualify for this bonus.

Your $300 bonus will be deposited within 30 days of meeting these requirements, as long as your checking account is still open and eligible.

Is this account worth opening?

Citibank not only offers an easy-to-earn bonus, but its checking accounts offer some attractive features as well. If you have less than $30,000 to invest, its Everyday Benefits include:

• No overdraft or returned item fees
• Access to 65,000-plus fee-free ATMS nationwide
• No monthly service fees as long as you make $250 in monthly enhanced direct deposits

Now, depending which account you choose, you may get hit with out-of-network ATM fees -- although those can be waived with direct deposit for most accounts.

You don't want to pay a service fee, though, so be sure you can commit to the $250-per-month minimum direct deposit requirements to avoid it. Otherwise, pass up on this account and consider Fifth Third Bank instead.

3. Bank of America personal checking account

Bank of America's promotion doesn't last as long as Citibank's, so you'll have to act fast. You're eligible for it if you sign up online and haven't owned or co-owned a Bank of America Advantage Banking account in the past year. Here are the details:

• Bonus amount: $200
• Offer valid: Through May 31, 2024
• Requirements: There is a $25 minimum balance required to open an account. And you must receive a combined total of $2,000 in direct deposits within 90 days of account opening. You'll need to enter the offer code TWA200CIS to qualify when you open your account to qualify.

Qualifying direct deposits include those made by an employer or benefits provider. Online and mobile banking transfers or transfers from bank, brokerage, or investment accounts don't count.

Your bonus will be deposited into your Bank of America Advantage Banking account within 60 days of opening your account, and the account must be open and in good standing when that happens.

Is this account worth opening?

You have a choice of Bank of America checking accounts to open to qualify for this bonus. The Bank of America Advantage SafeBalance Banking account requires a $25 minimum deposit to open an account, and the minimum requirements go up from there.

You'll also pay monthly maintenance fees with most accounts unless you can meet minimum requirements to waive them (which vary by account). For the entry level Bank of America Advantage SafeBalance Banking, you can waive the fees if you're under 25; maintain a $500 minimum balance; or are a Preferred Rewards member.

If you can qualify for the fee waiver, the accounts offer some decent perks including no overdraft fees, interactive spending and budgeting tools, and access to a wide network of Bank of America branches for in-person support.

Which account is right for you?

All of these accounts have great bonuses without requiring you to deposit tens of thousands of dollars.

• Fifth Third Bank offers the easiest-to-earn bank bonus and doesn't require a minimum deposit. But you're at risk of overdraft fees.
• Citibank offers a large ATM network and you can earn the bonus with more deposit sources.
• Bank of America has a lot of in-person branches and can be great if you're able to meet its minimum balance requirements.

If none of these work, you can also check out The Ascent's list of best checking accounts to find another account that's right for you.