Best Checking Accounts Deals and Bonuses for July 2018

Competition is good for the consumer. When we have more choices for a particular product or service, providers tend to step up their efforts to steer buyers their way. Such is the case these days with that old American banking standby, the checking account. Here's a rundown of checking account bonuses and promotions and their qualification requirements so you can figure out bonus offer is right for you.

Savers with the ability to make a large deposit can secure one of the biggest cash bonuses we've come across with HSBC Premier Checking.

One of the higher cash bonuses available on the U.S. market today is the one linked to a new HSBC Advance Checking account. The bank's welcome deposit is a hefty $350.

• Get a $350 Welcome Deposit for eligible new customers who open an HSBC Advance checking account with qualifying activities.

• Open your new HSBC Advance checking account online by August 31, 2018; and deposit a minimum Qualifying Balance of $10,000 or more in New Money in combined checking and savings accounts within 30 calendar days of account opening; and

• Maintain at least the minimum Qualifying Balance for 90 calendar days from the date you deposited the minimum Qualifying Balance.

• You will automatically receive the $350 Welcome Deposit in your new HSBC Advance checking account approximately eight weeks after completing all qualifying activities. It's that simple.

HSBC Choice Checking is a better choice for people wanting to keep a lower qualifying balance, while still earning a $200 bonus.

Not one to lag far behind in the cash bonus race, Citibank currently has $600 on the table for those opening one of its Citi Priority Account Packages. Citi's "package" in this case includes wealth management and investment advisory services linked to an anchor checking account (a Citi savings account can also be included in the package at the time of opening). New account holders can earn that $600 by opening a Citi Priority Account Package, then funding it with at least $50,000 in new-to-Citibank funds. Once that $50,000 minimum is maintained as the account's balance for 60 days, owners earn the $600 bonus.

Atlanta-based lender SunTrust is currently offering a relatively high cash bonus for an account that has fairly light opening requirements compared to rivals. Newcomers to SunTrust's Signature Advantage checking account can earn $500 if they deposit at least $100 into the account within 14 days of its opening (note: holders of other SunTrust checking accounts are not eligible for this promotion). They must also channel a minimum of $2,000 in direct deposits to the account, and use their debit card in at least 10 transactions within 60 days of opening.

TD Bank is ready to put $300 in your first TD Premier checking account, as long as the cumulative direct deposits hit $2,500 within 60 days of opening the account. What customers are buying for their money is a high-end account that has a $0 monthly maintenance fee (as long as a $2,500 minimum daily balance is maintained), waives the fee for non-TD ATMs (and reimburses all ATM fees if the said minimum daily balance is kept up), and charges $0 for a raft of activities such as money orders, foreign transactions affected by the account's debit card, and incoming wire transfers.

For savers that find TD Bank promising and aren't ready to commit to the four-figure direct deposit requirement of Premier Checking, the lender's TD Convenience Checking account might be more appropriate. It earns a $150 cash bonus as long as an account holder direct-deposits a total of at least $500 within 60 days of opening. As with TD Premier Checking, this account isn't aggressive about fees and charges -- for example, the $15 monthly maintenance fee can be avoided by maintaining a minimum daily balance of $100.

Another higher-end, interest bearing checking account offered by a major bank is Chase Premier Plus Checking. For a limited time, those opening their first Premier Plus Checking account will earn a $300 bonus from the bank. To do so, they'll need to be approved by the bank for the account, then they'll need to deposit at least $25 to fund it. After that, customers will have to make their first direct deposit -- this must consist of a regular salary, pension or government benefit -- into the account within 60 days of it being opened. After those fairly modest requirements are met, Chase pledges to add the cash bonus into the new account within 10 days of the customer making that initial direct deposit.

The big bank also has an attractive promotion for its Chase Total Checking account (although this one, unlike Chase Premier Checking, earns no interest). As with the bonus for Chase Premier Checking, the $200 award for opening this account -- also subject to approval by the bank -- is delivered after the customer deposits at least $25 to fund it, and effects one qualifying (again, salary, pension or government benefit) direct deposit within the initial 60-day period.

Those willing to park more of their money at Chase can take advantage of an offer linked to the Chase Total Checking bonus. If a customer also opens a Chase Savings account, deposits at least $10,000 within 10 days of opening, and maintains a balance of at least that amount for 90 days from the day of deposit, they will earn a $150 bonus.

PNC Virtual Wallet is a hybrid short-term savings/long-term savings/checking account. The bank bestows a $200 bonus on new account holders if they apply online or live at a PNC branch and sign up for the account's Performance Checking tier. Then they must channel at least $2,000 in qualifying direct deposits to the account. They are also required to make 10 purchases with the debit card connected to the account. All conditions are to be met within 60 days of the account's opening.

Newcomers to PNC Virtual Wallet can reap a higher ($300) bonus if they opt for the Performance Select Checking tier. For this, they have to set up at least $5,000 in qualifying direct deposits, and make the same minimum of 10 purchases on the debit card.

It nearly goes without saying that Performance Select tier confers more benefits beyond the cash bonus. Performance Select clients get steeper discounts on check orders, free domestic wire transfers, no fees charged by PNC on third-party ATM withdrawals, and other perks.

East Coast lender Citizen's Bank is currently running a $200 cash bonus promotion for first-timers opening the bank's One Deposit Checking account. This offer has but a single financial qualification -- the account holder must make one direct deposit of at least $500 within 60 days of opening. It should be noted, though, that Citizen's Bank is a regional lender. Consequently, this offer is only available to denizens of Connecticut, Delaware, Maine, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Vermont.

To recap, here are the best checking account bonus and deals