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Bank bonuses can help make checking and savings accounts more appealing to customers, and they can be worth several hundred dollars. But they're usually only available for a short time, and they have strict eligibility criteria. This usually includes opening a new account and depositing a certain amount of funds in the first few months.
Whether you're looking for banks with immediate sign up bonuses, savings account promotions, or the best checking account offers, you're in the right place. Read on for our favorite bank sign up bonuses and details on how these bonuses work:
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All of the accounts listed below are FDIC insured by the U.S. government, so your money in these accounts is guaranteed safe up to at least $250,000.
Here's a look at some of the best bank promotions available on checking accounts right now.
What you get: $200, $500, $1,000, $1,500, or $2,000 bonus
How you earn it: You must open a Citi checking account in an eligible account package by April 4, 2023, 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 from the 21st day. The amount you deposit determines the size of your bonus:
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 30 days of completing all qualifying activities.
Where to open an account: You must open your eligible account online, by phone, or at a Citibank branch to claim this bonus.
Monthly fees: Monthly fees vary depending on which account package you choose:
What you get: $300 bonus
How you earn it: Open a new TD Beyond Checking account by March 31, 2023, 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 a prior personal checking account bonus with TD Bank at any time are also not eligible for this bonus.
When you'll get it: Once you meet the qualifications, the bonus will be credited to your account within 180 days of account opening.
Where to open an account: Like with most bank bonuses, 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.
What you get: $200 bonus
How you earn it: Open a new TD Convenience Checking℠ account by March 31, 2023, 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 checking account bonus at any time are not eligible for this bonus.
When you'll get it: Once qualifications are met, the bonus will be credited to your account within 180 days of account opening.
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 17 and 23. This is the best bank bonus from TD if you're just starting out financially.
These are some of the best savings account bonuses and offers available right now.
What you get: $100 bonus
How you earn it: You must open an Ultimate Opportunity Savings account by Dec. 31, 2023, 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.
What you get: $200 bonus
How you earn it: You must open a new TD Signature Savings or TD Simple Savings account by March 31, 2023, and deposit $10,000 or more within 20 days of account opening. You must also maintain a balance of at least $10,000 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 or money market account bonus.
When you'll get it: Once qualifications are met, the bonus will be credited to your account within 180 days of account opening.
Where to open an account: Open a qualifying TD Bank savings account online to claim this bonus.
Monthly fees: The TD Signature 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.
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 account 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 a while you'll see bank promos featuring savings accounts.
Here's what you should look for when you're ready to open a bank account with a bonus offer:
To get a cash bonus when you open a checking or savings account, you normally need to open 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 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. If you're looking for a bank sign up bonus with no deposit required, make sure to double-check with the bank that you truly do not need to make a deposit in order to earn the bonus!
RELATED: Do you love shopping, earning, and saving? If so, check out The Ascent's Ibotta Review and see if a coupon app is right for you.
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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 the 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.
Here are a few banks offering checking and savings account bonuses you can claim now:
RELATED: You may also want to check out The Ascent's Regions Bank review for more bank bonuses.
A bank bonus is a cash bonus that banks give to new customers who open checking or savings accounts and complete certain qualifying activities.
The best bank bonuses and offers have strong long-term benefits (such as high APY or no maintenance fees) as well as significant value.
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.
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