Uncertain economic times can drive many consumers to find novel ways to earn additional money. Show
And for those also looking to open a new checking or savings account, current promotions at some banks provide an additional financial incentive to move their funds now to a new home — as much as an extra $200 or $300 (or more). Compare these bank bonus offers to find the best deal — and check out other incentives, too, like the bonuses offered for opening a brokerage account. Bankrate’s picks for the best consumer bank account bonuses in October 2022Best checking account bonuses
Best savings account bonuses
Best referral bonuses
Best business bank account bonuses
A closer look at the top consumer checking account bonusesCitibank: Up to $2,000 bonusCitibank is offering up to $2,000 to customers who open a new checking account by Jan. 9, 2023. To qualify for the bonus, funds must be deposited within 20 days after opening the account. The account balance after 20 days determines the bonus amount.
Other important information about this offer:
Citibank is based in New York. In Bankrate’s review of Citibank’s full suite of products and offerings, it earned 4.3 out of 5 stars. Fifth Third Bank: $375 bonusConsumers who haven’t had a Fifth Third Bank checking account for at least a year can earn a $375 bonus by:
Only one bonus for opening a new account is permitted each calendar year. You’re not eligible for this offer if you currently have a Fifth Third account or closed one in the past year. Fifth Third Bank is based in Cincinnati and earned 3.5 out of 5 stars in Bankrate’s review of its products. BMO Harris: up to $350 bonusConsumers who don’t have a BMO Harris checking account are eligible to earn a $200 to $350 bonus by opening a Smart Advantage Account, Smart Money Account or Premier Account.
Here are some other details:
BMO Harris earned 3.4 out of 5 stars in Bankrate’s review. SoFi Bank: up to $300 bonusNew SoFi Bank customers can earn up to $300 by opening a Checking and Savings account. You’ll need a direct deposit to earn the bonus. And the bonus is based on the amount of your total qualifying direct deposits during the bank’s 30-day evaluation period, according to SoFi Bank’s website.
TD Bank: up to $300 bonusNew customers can earn $300 by opening a TD Bank Beyond Checking account or $200 by opening a TD Convenience Checking account from June 14 to Oct. 31.
For the $200 Convenience Checking bonus, a qualifying direct deposit of at least $500 during the first 60 days is required. For the Beyond Checking $300 account bonus, a qualifying direct deposit of at least $2,500 during the first 60 days is required. TD Bank has its headquarters in Cherry Hill, New Jersey. In Bankrate’s review of TD Bank’s services and product offerings, it earned 3.6 out of 5 stars. M&T Bank: up to $200 bonusYou can earn up to $200 for opening any personal checking account at M&T Bank from Sept. 1 to Nov. 30.
M&T Bank earned 3.5 out of 5 stars in Bankrate’s review. M&T Bank is headquartered in Buffalo, New York. Chase Bank: $200 or $100 bonusThrough Oct. 19, Chase is offering a bonus on certain new checking accounts.
To qualify for the bonus, you must not have an existing Chase checking account (or had one closed with a negative balance in the past three years or closed within the last 90 days).
Ten qualifying transactions (debit card purchases, online bill payments, checks paid, Chase QuickDeposit, Zelle or ACH credit to the account) within 60 days of coupon enrollment are required to earn this bonus. The coupon can be found on Chase’s website. Our review of Chase’s banking products and services gave the bank 3.4 out of 5 stars. Chase is headquartered in New York. Huntington National Bank: Up to $300 bonusHuntington Bank has two checking account bonuses available for both consumers and business owners. Through Oct. 7 you can earn:
These offers are valid only for residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia and Wisconsin. Huntington is based in Columbus, Ohio. In the full review of its banking products and offerings, the bank earned 3.4 out of 5 stars. Bank of America: $100 bonusNew personal checking customers can earn $100 from Bank of America when they open an account online. The offer expires Dec. 31. To get the bonus, you must:
Offer code DNA100CIS is required to qualify for the bonus. Bank of America is headquartered in Charlotte, North Carolina. It earned 3.2 out of 5 stars in Bankrate’s full review of its products and services. A closer look at the top savings account bonusesTD Bank: $200 bonusYou can earn $200 by opening a new TD Signature Savings or TD Simple Savings account.
TD Bank has its headquarters in Cherry Hill, New Jersey. In Bankrate’s review of TD Bank’s services and product offerings, it earned 3.5 out of 5 stars. Alliant Credit Union: $100 bonus after a yearYou can earn $100 after a year with an Ultimate Opportunity Savings Account by making monthly deposits of $100 or more for 12 consecutive months. Current Alliant members are ineligible for the offer. Chicago-based Alliant earned 4.7 out of 5 stars in Bankrate’s review. BMO Harris: up to $60 bonus in a year ($5 maximum monthly)Customers can earn up to $5 a month ($60 a year) by depositing at least $200 each month for a year in a new Savings Builder account. Existing accounts aren’t eligible, and the initial deposit must be received in the month the account was opened to be eligible for all 12 savings rewards.
BMO Harris earned a 3.4 overall rating in Bankrate’s review. A closer look at the top consumer bank account referral bonusesAmerican Airlines Federal Credit Union: $25 for a family member referralAmerican Airlines Federal Credit Union members can earn $25 for each family member referred. The number of referrals is capped at 10 for 2022.
Axos Bank: $20 for a referral and $20 to the person you referredCurrent Axos customers have the opportunity to earn and give $20 for referring a friend to the Essential Checking account. To qualify for the bonus, your friend must:
If all requirements are met, both parties will receive $20 in their bank accounts. Axos is headquartered in San Diego. It earned 4.4 out of 5 stars in Bankrate’s full review of its products and services. Accounts closed within 90 days may be charged an early closure fee. Chase Bank: $50 for each referral up to $500Current Chase customers can earn $50, up to $500 per calendar year, for each friend who opens a qualifying checking or savings account. For you to qualify, your friend must:
The bonus your friend receives depends on the type of account she opens and whether she completes the qualifying activities outlined in the bonus. Our review of Chase’s banking products and services gave the bank 3.4 out of 5 stars. Chase is headquartered in Columbus, Ohio. Chime: $100 for a referral and $100 to the person you referredCurrent Chime customers can get $100 for each friend they refer. To qualify for the bonus, you must:
If the terms are met, both parties will receive $100. Chime is based in San Francisco and is a neobank, meaning it strictly operates online and partners with a bank to hold your deposits. Marcus by Goldman Sachs: 1 percent APY referral bonus for a current customer and a friendCurrent Marcus by Goldman Sachs customers and their referred friends can receive a 1 percent APY bonus for three months when a friend opens a Marcus savings account using a current Marcus customer’s referral link. Only customers who haven’t had a Marcus savings account or a CD in the last one-year period are eligible to be referred.
Marcus by Goldman Sachs has its headquarters in New York. In Bankrate’s review of Marcus by Goldman Sachs’ banking products, it earned 4.2 out of 5 stars. TD Bank: $50 for a referral and $50 to the person you referredTD Bank customers can earn and give $50 when they refer a friend to a TD Bank personal checking account. To qualify for the bonus, your friend must:
You can refer up to 10 friends per calendar year, meaning you could earn up to $500. TD Bank has its headquarters in Cherry Hill, New Jersey. In Bankrate’s review of TD Bank’s services and product offerings, it earned 3.5 out of 5 stars. A closer look at the top business checking account bonusCiti: up to $2,000 bonusYou can earn up to $2,000 by opening a new business checking account at Citi. The bonus will depend on your balance after making deposits during the first 30 calendar days and then maintaining that balance for 60 calendar days after that:
Here’s what you should know about this offer:
Huntington National Bank: $100, $400 or $750 bonusYou can earn up to $750 by opening the following new business checking accounts at Huntington National Bank:
Here’s what you should know about these offers:
PNC Bank: $200 or $500 bonusOpening a new PNC business checking account, business checking plus account, analysis business checking account or treasury enterprise plan can help your business earn a bonus. Opening a new business checking account or business checking account can earn you a $200 bonus if you meet certain requirements.
Getting a new analysis business checking account or treasury enterprise plan can earn you a $500 bonus if you maintain an average ledger balance of $30,000 during your first three statement periods. New business checking accounts must be opened between Oct. 1-Dec. 31 to qualify for a bonus. Axos Bank: $100 or $200 bonusNew small business owners (with a business established after June 1, 2020) have the opportunity to earn a $200 bonus when they open a Basic Business Checking Account or a Business Interest Checking Account with Axos Bank. Business owners with a business established prior to June 1, 2020, are eligible for a $100 bonus for opening either business checking account. Either bonus requires customers to:
In addition, the $200 bonus requires that you:
The $100 bonus is for businesses incorporated before June 1, 2020.
Offer ends Dec. 31 at 11:59 p.m. Axos is headquartered in San Diego. It earned 4.4 out of 5 stars in Bankrate’s full review of its products and services. Why banks have sign-up bonusesBanks use sign-up bonuses to distinguish themselves from others in the industry. Cash bonuses also help financial institutions bring in new customers and new deposits. Banks are particularly inclined to offer bonuses in a rising interest rate environment, when the spread between the interest rate they offer customers for deposits versus the interest rate they can get by lending money widens. While they could pay account holders a higher yield, for some banks, offering a bonus is preferable. “It’s much easier to quantify the bonus than it is to raise the rate on what you’re paying out on deposits,” says Greg McBride, CFA, Bankrate chief financial analyst. Some banks offer more than one sign-up bonus. But qualifying for multiple bonuses at the same time at the same bank usually isn’t possible. Bank account bonuses are typically available only to new checking or savings account holders. What to watch out forNot every bank account bonus is a good deal. Before signing up, read the fine print and be realistic about your ability to meet the requirements. Watch out for sky-high minimum balance requirements and monthly fees that could eat into your earnings. If you’re applying for a checking account, make sure it’s a good match that meets your needs. For example, if you need to use branches and ATMs, double-check that there are plenty of them in your area. That way, you’re not driving miles to meet with a banker or wasting money on out-of-network ATM fees. And with online banking becoming more popular and convenient, look for a bank or credit union that offers a solid set of digital tools. If you’re looking for a new savings account, consider whether you’re better off finding another bank that pays more interest. For instance, one-time bonuses are typically offered on accounts that pay minimal interest. So while the bonus is great initially, you may be sacrificing the long-term return. Sign up for a Bankrate account to read insights, analysis and bank reviews from our team of banking experts. Compare accounts:
How do I get a $100 deposit bonus from Bank of America?Open a new Bank of America Advantage Banking account. Use offer code DOC100CIS when opening the checking account. Set up and receive at least 2 qualifying direct deposits of $250 or more each within 90 days of account opening. Receive the $100 bonus within 60 days after completing all requirements.
How do I get the bank of America advantage relationship banking bonus?Bank of America Advantage Relationship Banking ® – $100 minimum opening deposit, $25 monthly fee waived with direct deposit or daily balance requirements, etc. Open the account and set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening to get your bonus.
What is the expiration date for bank of America’s $200 bonus?Additionally, you can open up a savings account and deposit $20,000 and receive an additional $200 bonus Editor’s Note: Another round of targeted promo has gone out, this time, the expiration date is December 31, 2020. Earn up to a $2,500 bonus when you open a Business Checking Account at Bank of America and meet all the requirements.
How do I get the bank of America $25/150 referral bonus?To earn your Bank of America $25/$150 Referral Bonus, simply open a new checking account and meet a specified requirements. *Offer is currently unavailable*. Referrer Bonus Offer: $25 Referral Bonus. Referee Bonus: $150. Availability: Nationwide. Expiration: *Expired*.
Does Bank of America give bonus for opening an account?Bank of America: $100 bonus
To get the bonus, you must: Not have had a Bank of America personal checking account, or been a co-owner on an account, within the past 12 months. Open a new Advantage SafeBalance Banking, Advantage Plus Banking or Advantage Relationship Banking account online.
How much is Bank of America bonus?Customized Cash Rewards - $200 bonus
Bank of America's Customized Cash Rewards Credit Card comes with an introductory bonus of $200 in online cash rewards after spending $1,000 in the first three months of account opening. This is in addition to the 0% intro APR that you'll enjoy for the first 15 months.
What banks give you free money for signing up?Citigold® Checking Account: Up to $2,000 cash bonus offer.. Chase Total Checking®: $200 bonus offer.. Citi Priority Account: Up to $2,000 cash bonus offer.. Chase Secure Banking℠: $100 bonus offer.. Bank of America Advantage Banking: $100 bonus offer.. TD Bank Checking: $200 or $300 bonus offer.. |