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Bank bonuses are a tool banks use to make their checking and savings accounts even more appealing to customers. They’re usually only available for a short time, and they can be worth several hundred dollars. But they’re only available to those who meet certain criteria.
To get a bank bonus, opening a new account is essential, but bank account bonuses have other requirements as well. These might include depositing a certain amount of money within the first few months or receiving a certain amount through direct deposits. After you've met all the criteria, the bank deposits the bonus in your account.
Read on to learn more about our picks for the best bank bonuses and how these bank incentives work.
Best checking account bonuses and offers
Here's a look at some of the best bank promotions available on checking accounts right now.
Aspiration Spend & Save $100 bonus
What you get: $100 bonus.
How you earn it: Open a new Aspiration Spend & Save account with at least $10 and use your Aspiration debit card to make at least $1,000 in purchases within the first 60 days of account opening.
How you qualify: This offer is only available to those who do not already have Aspiration Spend & Save accounts.
When you'll get it: It can take up to 120 days from the day you complete all the qualifying activities to receive your bank incentive. Note this is longer than many other bank bonuses.
Where to open an account: Aspiration does not have branches, so you must open your account online. However, even brick-and-mortar institutions tend to limit their bank account bonuses to customers who open accounts online -- so this shouldn't deter you.
Monthly fees: The Aspiration Spend & Save account enables you to decide how much, if anything, you would like to pay in monthly fees.
Aspiration Plus $150 bonus
What you get: $150 bonus
How you earn it: Open a new Aspiration Spend & Save account. Then, enroll in Aspiration Plus either at sign up or within 60 days of account opening. You must have at least $10 to deposit when opening the account and you must spend at least $1,000 within the first 60 days of account opening.
How you qualify: This offer is only available to those who don't already have bank accounts through Aspiration Bank.
When you'll get it: It can take up to 120 days after you've completed all the qualifying activities for your funds to appear in your account. This is longer than many other bank bonuses.
Where to open an account: Aspiration is an online-only bank, so you must go to its website to open your account.
Monthly fees: Aspiration Plus charges $7.99 per month, though you'll only pay $5.99 per month if you choose to pay annually.
Bank of America Advantage Banking $100 bonus
What you get: $100 bonus.
How you earn it: Open a new Bank of America Advantage Banking account by June 30, 2022, and receive qualifying direct deposits of $1,000 or more within 90 days of opening your account. This is one of the best bank promotions because it requires minimal effort.
How you qualify: Only individuals who have not had a Bank of America personal checking account within the last 12 months are eligible for this bank offer. This is fairly average for bank account offers.
When you'll get it: Once you've fulfilled the requirements, Bank of America will deposit your $100 into your account within 60 days.
Where to open an account: You must open your Bank of America Advantage Banking account online in order to claim this bonus.
Monthly fees: Depending on which Advantage Banking account you choose, you could owe a monthly fee ranging from $4.95 to $25 if you don't meet the qualifying activities to waive the maintenance fee. Because this bank account bonus is so small, make sure you avoid maintenance fees -- bank incentives disappear quickly in accounts with extra fees.
BMO Harris Premier™ $350 bonus
What you get: $350 bonus.
How you earn it: Open a new BMO Harris Premier™ account by Jan. 28, 2022, and make at least $7,500 in qualifying direct deposits within the first 90 days of account opening.
How you qualify: This offer is only available to new BMO Harris customers. Those with a current BMO Harris checking account or who have closed one within the last 12 months aren’t eligible.
When you'll get it: You'll receive your bonus within 100 days of completing the qualifying activities.
Where to open an account: You can either open your account online through BMO Harris's website or by calling the bank.
Monthly fees: This account has a $25 waivable monthly fee.
BMO Harris Smart Advantage™ $200 bonus
What you get: $200 bonus.
How you earn it: You must open a BMO Harris Smart Advantage™ account by Jan. 28, 2022 and receive at least $4,000 in qualifying direct deposits within the first 90 days after opening your account.
How you qualify: This offer is only available to new BMO Harris customers. Those who have closed a BMO Harris checking account within the past 12 months aren't eligible.
When you'll get it: You'll receive your bonus within 100 days of completing the qualifying activities.
Where to open an account: You can open your account online or by calling BMO Harris directly.
Monthly fees: This account doesn't have a monthly maintenance fee.
BMO Harris Smart Money™ $200 bonus
What you get: $200 bonus.
How you earn it: You must open a new BMO Harris Smart Money™ account by Jan. 28, 2022, and have at least $4,000 in qualifying direct deposits within the first 90 days of account opening.
How you qualify: This offer is only available to new BMO Harris customers who haven’t closed a BMO Harris checking account within the last 12 months.
When you'll get it: You'll receive your money within 100 days of completing the qualifying requirements.
Where to open an account: You can open a BMO Harris Smart Money™ account online or by calling the bank.
Monthly fees: This account has a $5 monthly fee, but it's waived for those under 25.
Chase College Checking℠ $100 bonus
What you get: $100 bonus.
How you earn it: Open a new Chase College Checking℠ account by Jan. 19, 2022, and make 10 qualifying transactions (debit card purchases, online bill payments, direct deposits, Chase QuickDeposit℠, check payments, or Zelle®) within 60 days of account opening. This ranks among the best bank account bonuses because earning it is simple.
How you qualify: You must be a college student between 17 and 24 with a valid student ID or proof of enrollment to open a Chase College Checking℠. This offer is not available to current Chase College Checking℠ account customers or those who have had a Chase checking account closed within the last 90 days or closed with a negative balance.
When you'll get it: Chase will deposit your bank bonus within 15 days of completing the qualifying activities. Chase deposits their bank incentives faster than most competitors' bank bonus offers.
Where to open an account: Apply for a Chase College Checking℠ account online if you'd like to pursue this bonus.
Monthly fees: As long as you are a college student between 17 and 24, you qualify for no monthly service fee for up to five years. We believe it's important for the best bank bonuses to include as few long-term fees as possible, so this is a plus.
Chase Secure Banking℠ $100 bonus
What you get: $100 bonus.
How you earn it: All you have to do to get this bonus is open a new Chase Secure Banking℠ account by April 20, 2022, and complete at least 10 qualifying transactions within 60 days of account opening. This includes debit card purchases, online bill payments, Chase QuickDeposits℠, and more.
How you qualify: This offer isn't available to existing Chase checking account customers. Those who have closed an account within 90 days or have had their account closed with a negative balance in the last three years are also not eligible.
When you'll get it: You'll receive your bonus within 15 days of completing the qualifying activities.
Where to open an account: You can either open your Chase Secure Banking℠ account online or request a coupon code that you can take to a branch.
Monthly fees: This account has a $4.95 monthly service fee that isn't waivable.
Chase Total Checking® $225 bonus
What you get: $225 bonus.
How you earn it: All you have to do to earn this bonus is open a new Chase Total Checking® account by April 20, 2022, and set up direct deposit within 90 days of account opening. That makes it one of the easiest checking account bonuses we've seen.
How you qualify: Those who already have Chase checking accounts or who have closed one within 90 days aren't eligible for this bonus. Those who have had their account closed with a negative balance in the last three years also aren’t eligible.
When you'll get it: You'll receive your bonus within 15 days of completing the qualifying activities.
Where to open an account: You can open your account online through Chase's website or you can enter your email and receive a coupon code that you can take to your nearest Chase branch.
Monthly fees: The Chase Total Checking® account has a waivable $12 monthly fee.
Citi Citigold Checking $300, $700, or $1,500 bonus
What you get: $300, $700, or $1,500 bonus
How you earn it: You must open a Citigold® Checking account by Jan. 4, 2022, and deposit new-to-Citibank funds within 20 days of account opening. You must then maintain the required minimum balance in your account for an additional 60 days. The amount you deposit determines the size of your bonus:
- $300 cash bonus: $15,000 minimum balance
- $700 cash bonus: $50,000 minimum balance
- $1,500 cash bonus: $200,000 minimum balance
How you qualify: You must be at least 18, and you may not have had a Citi checking account within the last 180 days. You must also furnish or have a valid Form W-9 or Form W-8BEN on file with Citibank.
When you'll get it: You’ll receive your bonus within 90 days of completing all qualifying activities.
Where to open an account: You must open your Citigold® Checking account online to claim this bonus.
Monthly fees: The Citigold® Checking account does not have monthly fees.
HSBC Premier Checking $450 bonus
What you get: $450 bonus
How you earn it: You must open a new HSBC Premier Checking account by Jan. 5, 2022, and make recurring qualifying direct deposits totaling at least $5,000 per month for three consecutive months from the second full calendar month after opening.
How you qualify: Customers who have had an HSBC consumer deposit accounts between Aug. 31, 2018, and Aug. 31, 2021, are not eligible for this bonus.
When you'll get it: You'll receive your bonus approximately eight weeks after completing all qualifying activities.
Monthly fees: There's a monthly fee of $50, which you can waive by meeting one or more qualifying activities.
Huntington National Bank Huntington 25 Checking $500 bonus
What you get: $500 bonus
How you earn it: Open a new Huntington 25 Checking account by Feb. 7, 2022, deposit at least $15,000 in new-to-Huntington funds into your account within 60 days. Similar to other bank account offers, you must keep your account open for 90 days.
How you qualify: This offer is only available to residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, and Wisconsin. Also, as with most of the best checking account offers, only new Huntington customers who have not had a Huntington checking account within the last six months are eligible.
When you'll get it: You'll receive your $500 within 14 days of completing the qualifying activities. This stands out as one of the best bank account bonuses because you'll get your rewards fairly quickly.
Where to open an account: You may open your Huntington 25 Checking account online.
Monthly fees: There's a $25 monthly fee, which you can waive if your average balance is $25,000 or more.
Huntington National Bank Huntington 5 Checking $200 bonus
What you get: $200 bonus.
How you earn it: Open a new Huntington 5 Checking account by Feb. 7, 2022, deposit at least $1,000 in new-to-Huntington funds into your account within 60 days, and keep your account open for 90 days.
How you qualify: This offer is only available to residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, and Wisconsin. Only new Huntington customers who have not had a Huntington checking account within the last six months are eligible.
When you'll get it: You'll receive your $200 bonus within 14 days of completing the qualifying activities.
Where to open an account: You must may open your Huntington 5 Checking account online.
Monthly fees: There's a $5 monthly fee, which can be waived if your average balance is $5,000 or more. The best bank promotions are attached to accounts without monthly fees, so we only recommend this if you can keep the minimum balance above that amount.
Huntington National Bank Asterisk-Free Checking $150 bonus
What you get: $150 bonus.
How you earn it: Open a new Huntington Asterisk-Free Checking account by Feb. 7, 2022, deposit at least $1,000 in new-to-Huntington funds into your account within 60 days. As with most bank account bonuses, you need to keep your account open for 90 days.
How you qualify: This offer is only available to residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, and Wisconsin. Only new Huntington customers who have not had a Huntington checking account within the last six months are eligible.
When you'll get it: Huntington will deposit your $150 into your account within 14 days of completing the qualifying activities. Many bank bonus offers don't deposit for one to two months, so 14 days is unusually fast.
Where to open an account: You can open your Asterisk-Free Checking account online to claim this bonus.
Monthly fees: There is no monthly fee for this account. As many accounts charge a monthly fee, we consider this to be one of the best bank account bonuses in the long term.
PNC Bank Virtual Wallet with Performance Select $300 bonus
What you get: $300 bonus
How you earn it: You must open a PNC Bank Virtual Wallet with Performance Select account by Dec. 31, 2021, and you must direct deposit at least $5,000 within the first 60 days of account opening.
How you qualify: You won't qualify for this bonus if you have a current PNC Bank checking account or have closed one within the past 90 days. You also won’t qualify if you’ve received a PNC Bank bonus within the last 24 months.
When you'll get it: You'll receive your bonus within 60 to 90 days of completing all the qualifying activities.
Monthly fees: There's a $25 monthly fee, but PNC Bank gives you several options to waive it.
PNC Bank Virtual Wallet with Performance Spend $200 bonus
What you get: $200 bonus
How you earn it: You must open a PNC Bank Virtual Wallet with Performance Spend account by Dec. 31, 2021, and have at least $2,000 in qualifying direct deposits within the first 60 days of account opening.
How you qualify: Existing PNC Bank personal checking customers and those who have closed a PNC Bank personal checking account within the last 90 days won’t qualify for this bonus. Anyone who’s received a PNC Bank bonus within the last 24 months also isn't eligible.
When you'll get it: You'll receive your $200 cash bonus within 60 to 90 days of completing all the qualifying activities.
Monthly fees: You could pay a $15 monthly fee for this account, unless you meet one or more of the qualifying activities to waive this fee.
PNC Bank Virtual Wallet $50 bonus
What you get: $50 bonus
How you earn it: You must open a PNC Bank Virtual Wallet account by Dec. 31, 2021, and make at least $500 in qualifying direct deposits within the first 60 days of opening your account.
How you qualify: You qualify for this bonus as long as you’re not a current PNC Bank checking account customer, have not closed a PNC Bank checking account within the last 90 days, and have not received a PNC Bank bonus within the last 24 months.
When you'll get it: It'll take about 60 to 90 days after completing all qualifying activities to receive your bonus.
Monthly fees: This account has a waivable $7 monthly fee.
TD Beyond Checking $300 bonus
What you get: $300 bonus.
How you earn it: Open a new TD Beyond Checking account by Nov. 30, 2021, and have at least $2,500 in direct deposits within 60 days of account opening.
How you qualify: You qualify if you do not have an existing TD Bank personal checking account and have not had one within the last 12 months. Customers who have received any type of TD Bank bonus in the past are also not eligible for this bonus.
When you'll get it: Contact TD Bank to learn when it will deposit this bonus into your account.
Where to open an account: Like with most bank promos, you must open your TD Beyond Checking account online if you want to earn this bonus.
Monthly fees: You'll pay $25 per month to own this account unless you have $5,000 in monthly direct deposits, you maintain at least a $2,500 daily minimum balance, or you have at least $25,000 in combined eligible TD accounts.
TD Convenience Checking℠ $150 bonus
What you get: $150 bonus.
How you earn it: Open a new TD Convenience Checking℠ account by Nov. 30, 2021, and receive at least $500 in direct deposits to the account within 60 days of account opening.
How you qualify: Like many bank account bonuses, you qualify if you do not have an existing personal checking account with TD Bank. Customers who have closed a personal checking account within the last 12 months or who have received a previous TD Bank bonus at any time are not eligible for this bonus.
When you'll get it: Reach out to TD Bank to learn more about when it will deposit your bonus into your account.
Where to open an account: Open your TD Convenience Checking℠ account online to take advantage of this bonus.
Monthly fees: You can waive the $15 monthly fee by maintaining a minimum daily balance of $100 or more. The fee is also waived if you're between the ages of 17 and 23. This is the best bank bonus from TD if you're just starting out financially.
U.S. Bank personal checking accounts $200 or $400 bonus
What you get: $200 or $400 bonus.
How you earn it: You must open a new U.S. Bank personal checking account by Dec. 6, 2021, and enroll in online banking or the U.S. Bank Mobile App. Then, you must complete two or more direct deposits within the first 60 days of account opening. To claim the $200 bonus, your direct deposits must total at least $2,500. To claim the $400 bonus, your direct deposits must total at least $5,000.
How you qualify: This offer is only available to new U.S. Bank customers. Those who have closed a U.S. Bank account or received a U.S. Bank bonus offer within the past two years are not eligible.
When you'll get it: U.S. Bank will deposit the bonus in your account within 60 days of when you complete the qualifying activities.
Where to open an account: You can open a qualifying U.S. Bank checking account on the bank's website. You may choose from the Platinum Checking Package, Gold Checking Package, or Easy Checking account if you want this bonus.
Monthly fees: The monthly fee you'll pay depends on which of U.S. Bank’s accounts you choose. They range from $6.95 to $24.95 per month, but there are ways to waive them.
Wells Fargo Everyday Checking $200 bonus
What you get: $200 bonus.
How you earn it: Open a new Wells Fargo Everyday Checking account with a minimum deposit of at least $25 by Dec. 31, 2021. Then, receive a total of $1,000 or more in qualifying direct deposits within the first 90 days after account opening.
How you qualify: This offer is for new Wells Fargo checking account customers only. Wells Fargo employees and customers who have closed a Wells Fargo checking account within the last 12 months don’t qualify.
When you'll get it: You'll receive your funds within 30 days after the 90-day qualification period is over.
Where to open an account: You can open a Wells Fargo Everyday Checking account on the company's website.
Monthly fees: The Wells Fargo Everyday Checking account has a waivable $10 monthly fee.
Best savings account bonuses
These are some of the best savings account bonuses and offers available right now.
Alliant Credit Union Ultimate Opportunity Savings $100 bonus
What you get: $100 bonus
How you earn it: You must open an Ultimate Opportunity Savings account by Dec. 31, 2021, and deposit at least $100 per month for 12 consecutive months. The balance at the end of the year must be at least $1,200.
How you qualify: You qualify as long as you're not a current Alliant Credit Union savings account holder and have not closed an Alliant Credit Union savings account within the last 180 days.
When you'll get it: It'll take up to four weeks to receive your bonus after completing all the qualifying activities.
Monthly fees: This account doesn't have any monthly fees as long as you choose eStatements.
Discover Online Savings $150 or $200 bonus
What you get: $150 or $200 bonus.
How you earn it: You must open a new Discover Online Savings account by Dec. 15, 2021, and deposit at least $15,000 into the account within 30 days of opening to get the $150 bonus. To get the $200 bonus, you must deposit at least $25,000 into the account within 30 days of account opening.
How you qualify: In order to claim this bonus, you cannot have a current Discover Online Savings account or have had one in the past.
When you'll get it: Once you've met the criteria above, Discover will deposit the bonus into your account within 30 days.
Where to open an account: You can open your Discover Online Savings account through the company's website.
Monthly fees: This account doesn't have a monthly fee.
TD personal savings account $200 bonus
What you get: $200 bonus
How you earn it: You must open a new TD Beyond Savings or TD Simple Savings account by Nov. 30, 2021, and deposit $20,000 or more within 20 days of account opening. You must also maintain a balance of at least $20,000 for 90 days.
How you qualify: This bonus is not available to those who already have a TD Bank personal savings or money market account or who have had one of these accounts within the last 12 months. It's also not available to anyone who has previously earned a TD Bank savings account bonus.
When you'll get it: Contact TD Bank to learn more about when you can expect to receive your savings bonus.
Where to open an account: Open a qualifying TD Bank savings account online to claim this bonus.
Monthly fees: The TD Beyond Savings account has a $15 monthly fee while the TD Bank Simple Savings account has a $5 monthly fee. TD Bank gives you multiple options to waive both of these fees, though.
Why do banks have promotions?
Bank account bonuses and offers are a way for banks to attract new customers who may be on the fence about where to place their money. Banking is a competitive business, especially with the rise of online banks that offer low fees and high APYs, so bank offers can give a bank account that little bit of extra appeal.
Checking bonuses are much more common than savings account offers. The main draw with savings accounts is the APY. Checking accounts often lack interest, which means a bonus can go a long way toward helping an account stand out. Savings account offers are more rare, but once in awhile you'll see bank promos featuring savings accounts.
What should I look for when choosing a bank account with a bonus or offer?
Here's what you should look for:
- Valuable long-term features: A bank bonus is nice, but it's a one-time offer. Once you've earned it, you're stuck with the bank account. So it doesn't make sense to open an account for the bonus alone if it doesn't have the features that will help you manage your money long term. The best bank deals will connect you with a bank you'll love for years to come.
- Ability to qualify: There's no sense in signing up for an account that offers one of the best bank bonus offers if you doubt your ability to meet the qualification requirements necessary to earn that bonus. Make sure you review all criteria necessary to earn the bonus first and note any deadlines so you don't accidentally disqualify yourself.
- Impressive bonus: All other factors being equal, you may as well go for the bank account that offers the largest bonus.
What rules apply to bank promotions?
To get a cash bonus when you open a checking or savings account, you normally need to be opening a new account with the bank and you must open the account during the promotional period. You might need to enter some type of promotional code or use a specific link when you sign up to claim the bonus.
Each bank offer will have its own criteria you must meet in order to earn the bonus. Usually, it involves depositing a certain amount of money into the account over the first few statement cycles, but some banks also require a certain number of transactions or a minimum balance over your first few statement cycles.
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How can I maximize bank promotions and offers?
Do your research to determine which bank promos and offers provide the most money and are within your reach. Keeping more money in your accounts will open doors to better bank bonus offers. Also, investigate any monthly fees associated with the account before accepting any bank offers. If you can't waive these fees, they'll cut into your profits. The best bank offers are connected to fee-free accounts.
What banks offer checking and savings account bonuses or offers right now?
Here are a few banks offering checking and savings account bonuses you can claim now:
- Aspiration: Aspiration is an online bank that offers cash management accounts -- accounts that combine some of the features of checking and savings accounts. Not only do new customers get bank deals from Aspiration, but accounts also have other perks, like cash back on debit card purchases. Also, since very few banks offer a savings account bonus, this is a unique opportunity for those interested in savings incentives.
- Bank of America: Bank of America offers one of the more unique bank promotions on its versatile Advantage Banking account, which lets you choose between three accounts with different features and switch between them as often as you'd like.
- BMO Harris: BMO Harris offers several checking account promotions, and they're pretty sizable compared to what their competitors offer.
- Chase: Chase has several bank account offers on its checking accounts and is one of the few banks to offer savings account bonuses on occasion. Chase typically gets bank incentives into qualifying customers' accounts much faster than many other banks. This is the best bank bonus if you're already interested in opening a Chase account.
- Citibank: Citibank offers bonuses on several of its checking accounts. Some of these are especially lucrative, but you'll need a lot of cash to claim the largest bonus.
- Discover Bank: Discover is one of the rare banks that offers bonuses to its savings account customers on top of its already competitive APY.
- HSBC: HSBC offers one of the most valuable checking account bonuses we've seen, but the account's high monthly fee could take that all away if you're unable to meet the criteria to waive it.
- Huntington National Bank: Huntington National Bank is a regional bank that offers several checking account offers with relatively painless qualification requirements. There are several accounts to choose from, so it's easy to find a bonus you can earn and an account with the features you need long term.
- PNC Bank: PNC Bank's Virtual Wallet account is another cash management account. You can earn a sizable reward if you are comfortable opening a checking and a savings account and depositing a few thousand dollars.
- TD Bank: TD Bank consistently features checking account offers on its Beyond Checking and Convenience Checking℠ accounts and the qualification requirements are pretty easy to meet.
- U.S. Bank: U.S. Bank offers bonuses on several of its checking accounts and checking account packages, so it has something to appeal to many different customers.
- Wells Fargo: Wells Fargo's checking account bonus is pretty sizable considering what you have to do to earn the bonus, though it might not be a good fit if you don't have thousands of dollars to spend.
FAQs
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A bank bonus is a cash bonus that banks give to new customers who open checking or savings accounts and complete certain qualifying activities.
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The best bank bonuses and offers have strong long-term benefits (such as high APY or no maintenance fees) as well as significant value.
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Each bank account has its own qualification requirements so you must check each offer for specific details. Typically, you must sign up for a new account within a certain window and deposit a certain amount of funds within the first few statement cycles.
About the Author
Kailey has been writing about banks, credit cards, loans, and all things personal finance since 2012. She also writes for The Ascent's parent company, The Motley Fool. Her work has appeared on USA Today, CNN Money, Fox Business, and MSN Money. She's a graduate of the University of Wisconsin and happily lives in the woods of northern Wisconsin where she grew up.
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