It’s possible to make $100s by opening a new bank account, but sorting through the best offers can be tricky. There’s no shortage of enticing opportunities for banking clients right now.
We’re happy to do the work for you. The Money Crashers team combs through hundreds of bank account deals every month to find you the most lucrative sign-up bonuses – some worth up to $1,000 or more.
Don’t want to miss out? Read on for our roundup of the best bank promotions for this month and the requirements you must meet to qualify for each. Most are available to new customers in all 50 states, but a few have geographical restrictions to bear in mind.
Best Personal Checking Bonuses
SoFi Checking and Savings – up to $300 Bonus
Open a new SoFi Checking and Savings account by December 31, 2024, and complete qualifying activities to earn a cash bonus worth up to $300.
To get started, set up direct deposit from a qualifying payer. You must receive at least one qualifying direct deposit — and a minimum of $1,000 in total deposits — within the 25-day qualification period.
The bonus tiers depending on how much you direct deposit are as follows:
- Earn a $50 Bonus with cumulative direct deposits between $1,000 and $4,999.99
- Earn a $300 Bonus with cumulative direct deposits between $5,000 or more
Students and young adults ages 17 through 23 qualify for additional perks, such as no monthly maintenance fee and no minimum balance requirements.
Disclaimer: This offer is available to new and existing SoFi users who’ve never been enrolled in direct deposit with SoFi. See terms for additional details.
BMO Smart Advantage Checking Account – $300 Cash Bonus*
BMO has another easy-to-attain new bank account promotions that’s very similar to ones previously offered earlier this year.
Open a new BMO Smart Advantage Checking Account or BMO Smart Money Checking Account by February 3, 2025, and get a $300 cash bonus* when you receive a total of at least $4,000 in qualifying direct deposits which the first 90 days your account is open
- Unlimited transactions at in-network ATMs (40,000+ ATMs nationwide)
- $0 Monthly Maintenance Fee with paperless statements
- No minimum balance
Disclaimer: This new checking account offer is limited to one per customer. It’s not available to current BMO personal checking customers nor previous customers who closed a BMO or Bank of the West personal checking account within the past 12 months. You can open your account online or at a BMO branch. *Conditions apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC
PNC Virtual Wallet – up to $400 Bonus
Earn a bonus worth up to $400 when you open a new PNC Virtual Wallet by January 02, 2025 and complete qualifying activities.
Within 60 days of opening your account, make a qualifying direct deposit(s) as follows to earn the respective bonus amount:
- Earn a $100 Bonus with direct deposit(s) totaling $500+ if you open a Virtual Wallet account
- Earn a $200 Bonus with direct deposit(s) totaling $2,000+ if you open a Virtual Wallet with Performance Spend
- Earn a $400 Bonus with direct deposit(s) totaling $5,000+ if you open a Virtual Wallet with Performance Select
Your bonus will be credited to the eligible account within 60 to 90 days after you’ve met all conditions. Your Virtual Wallet product must remain open in order for you to receive the reward.
This offer is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet is offered in the state of MO with the exception of the greater Kansas City area. Offer is contingent on product availability and may vary based on your address and where and how you open your account.
If you’re located in AK, AR, CT, HI, ID, IA, KS, LA, ME, MA, MN, MS, MT, NE, NV, NH, ND, OK, OR, RI, SD, TN, UT, VT, WA, WY you can receive a $200 bonus with the PNC Virtual Wallet Checking Pro account. Also offered in the state of MO only in the greater Kansas City area
Truist One Checking – $400 Bonus
Earn a $400 bonus from Truist Bank when you open a new One Checking account by April 30, 2025 and complete qualifying direct deposits.
To earn your bonus, complete the following requirements:
- Open a new Truist One Checking account online and use coupon code AFL2425TR1400.
- Within 120 days of account opening, complete at least two qualifying direct deposits totaling $1000 or more
The bonus will be deposited in your account within four weeks of verifying the direct deposit requirements have been completed.
This offer is only good if you live in the following states: AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC. Terms apply. Member FDIC.
TD Bank Beyond Checking℠ – $300 Bonus
Earn a $300 cash bonus when you apply online for a TD Bank Beyond Checking℠ account by January 1, 2025 and complete qualifying direct deposits.
For this bonus, you’ll need to receive direct deposits of $2,500 or more within 60 days.
To waive the monthly fees, complete at least one of the following each statement cycle:
- Receive direct deposits of $5,000 or more
- Maintain a minimum daily balance of $2,500
- Maintain a combined balance of $25,000 across your eligible TD accounts
This offer is only available if you live in the following states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA To qualify for this offer, you must be a U.S. resident, a new customer and apply for the offer online.
Chase Total Checking® – $300 Bonus
Open a new Chase Total Checking® account to earn one of the easiest bank account opening bonuses available.
All you have to do is open your account by January 22, 2025 and set up a qualifying direct deposit within 90 days of coupon enrollment. You’ll receive your $300 bonus within 15 business days.
$12 monthly fee can be waived if you meet at least one of the following criteria in each monthly statement period:
- Execute electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNowSM network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network
- Maintain a balance at the beginning of each day of $1,500 or more in this account.
- Maintain an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.
- Pay at least $25 or more in qualifying checking-related services or fees.
Disclaimer: This offer is available online nationwide, except for residents of AK, HI, and PR.
U.S. Bank Smartly® Checking
Earn up to $450 with a new U.S. Bank Smartly® Checking account. Offer ends December 30, 2024.
Complete the following within 90 days of account opening:
Enroll in the U.S. Bank Mobile App or online banking and make at least two direct deposits:
- Earn $250 when the combined total of your direct deposits is between $2,000 and $4,999.99
- Earn $350 when the combined total of your direct deposits is between $5,000 and $7,999.99.
- Earn $450 when the combined total of your direct deposits is $8,000 or more.
Bank of America Bonus Offer
Earn a $300 bonus when you complete required activities. Click Learn More for more details.
To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Once all requirements are met, Bank of America will attempt to pay the bonus within 60 days.
*A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page, linked below. The offer expires 01/31/2025 and is for new checking customers only.
Additional terms and conditions apply. Bank of America, N.A. Member FDIC. You are not eligible for this offer if you were an owner or co-owner of a Bank of America personal checking account within the last twelve (12) months. Requires offer code: MNB300CIS
Fifth Third Momentum® Checking – $300 Bonus
Earn a $300 cash bonus when you open a Fifth Third Momentum checking account and make $500 in direct deposits within the first 90 days.
It’s really that simple! There are no hidden fees and no minimum balance. Plus, you’ll have access to your direct deposits up to two days early.
Fifth Third is known to pull offers early or make updates to them so act fast on this bonus.
TD Complete Checking – $200 Bonus
If the direct deposit requirements are a little too steep for the TD Beyond Checking bonus, TD Bank has a $200 Bonus for new customers that open a TD Complete Checking account.
Earn a $200 cash bonus when you apply online for a TD Complete Checking account and complete qualifying direct deposits. For this bonus, you only need to have direct deposits of $500 or more within 60 days.
To waive the monthly maintenance fee, complete at least one of the following:
- Have $500 or more in direct deposits within a statement cycle, or
- Maintain a minimum daily balance of $500, or
- Have a $5,000 minimum daily combined balance of all deposit accounts that you choose to link.
Students and young adults ages 17 through 23 qualify for additional perks, such as no monthly maintenance fee and no minimum balance requirements.
This offer is only available if you live in the following states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA. To qualify for this offer, you must be a U.S. resident, a new customer and apply for the offer online.
Citi® Enhanced Deposits – $325 Bonus
You can earn a $325 cash bonus when you open a Citi checking account by January 7, 2025 and complete qualifying activities. It’s fairly simple, which is why it’s at the top of our list.
To earn the bonus, complete the following:
- Open a new eligible Citi checking account with Enhanced Direct Deposits.
- Make at least two Enhanced Direct Deposits of at least $3,000 combined into your Citi Checking account within 90 days of account opening.
Deposit your way from recurring paychecks, retirement payments, pensions, and more.
Your cash bonus will be deposited into your open checking account 30 days after completing the requirements.
Monthly service fee waived when you have $250+ in Enhanced Direct Deposits.
KeyBank
You can earn a $300 cash bonus when you open a Key Smart Checking® account and complete the following requirements:
- Open a new no-monthly-maintenance-fee Key Smart Checking® account before December 13, 2024.
- Make an opening deposit of $10 for a Key Smart Checking® account, plus one eligible direct deposit of at least $1,000 within the first 60 days of account opening.
Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.
This offer is only available if you live in the following states: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA
KeyBank, Member FDIC.
Best Savings Account Bonuses
TD Bank Savings – $200 Bonus
TD Bank is back with their savings bonus that’s best coupled with one of their checking products. Just complete the following:
- Open a new TD Bank Savings account by December 31, 2024
- Within 20 days, deposit $20,000
- Maintain that balance for 90 days.
Bonus will be paid on or before 180 days after account opening.
Best Business Checking Bonuses
Chase Business Complete Checking® – $300 Bonus
Small-business owners (including sole proprietors) can take advantage of an attractive offer on a popular business checking account.
New Chase Business Complete Checking® customers can earn $300 for opening an account online or in-person by January 16, 2025 and completing qualifying activities.
To qualify for this opportunity, do the following:
- Obtain a coupon using the link below and open a new Chase Business Complete Checking® account
- Deposit at least $2,000 in new money into the account within 30 days of offer enrollment.
- Maintain that balance for at least 60 days from offer enrollment.
- Complete at least five qualifying transactions, including electronic deposits and debit card purchases, within 90 days of offer enrollment.
After you complete all qualifying activities, you should receive the bonus in your account within 15 business days.
Disclaimer: This offer is available online nationwide, except for residents of AK, HI, and PR.
U.S. Bank Business Checking – up to $900
Through January 15, 2025, U.S. Bank is offering the opportunity to earn up to a $900 bonus when you open an eligible new business checking account online with promo code Q4AFL24 and complete qualifying activities, subject to certain terms and limitations.
The offer is now available online nationwide and eligible accounts include: Silver Business Checking Package, Gold Business Checking Package, and Platinum Business Checking Package.
Complete these steps to earn a $400 bonus offer:
- Open a new U.S. Bank Silver Business Checking or Business Essentials (Available in AZ, NV, cO, NM, OH, IN, KY and TN) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.
Complete these steps to earn a $900 bonus offer:
- Open a new U.S. Bank Platinum Business Checking account between 10/01/2024 and 1/15/2025. You must make deposit(s) of at least $30,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $30,000 until the 60th day after account opening.
Deposit products offered by U.S. Bank National Association. Member FDIC.
Bank of America Business Bonus Offer
Earn a $200 bonus when you complete required activities. See offer page for more details.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening. Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**. (The Maintenance Period begins thirty-one (31) days after account opening and ends 90 calendar days after account opening). Once all requirements are met, Bank of America will attempt to pay the bonus within 60 days.
The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
The offer expires 12/31/2024 and is for new eligible business checking customers only.
Additional terms and conditions apply. Bank of America, N.A. Member FDIC. You are not eligible for this offer if you were an owner or signer on a Bank of America Business Advantage checking account within the last twelve (12) months. Bank of America, N.A. Member FDIC.
Axos Bank Business Interest Checking – up to $400 Bonus
Through January 02, 2025, Axos Bank is offering the opportunity to earn up to a solid $400 bonus when you open an eligible new business checking account online with promo code NEW400 and complete qualifying activities.
To earn the bonus, complete the following steps:
- During the first 5 statement cycles, earn $75 for each statement cycle the average daily balance is $25,000 – $49,999.99, up to $300 total OR earn $100 for each statement cycle the average daily balance is at least $50,000, up to $400 total.
- complete 10 purchases of at least $3 with your Small Business Checking Visa® Debit Card and have BillPay setup on your account.
- Bonus will be deposited into your new account within 10 business days of your statement cycle date.
Disclaimer: Your account must remain open for at least 180 days to avoid the $50 early closing fee. Additional terms may apply; see offer page.
Best High Net Worth Bonuses
Chase Private Client Checking℠ – up to $3,000 Bonus
For a limited time, you can earn a bonus worth up to $3,000 when you open a new Chase Private Client Checking account and complete qualifying activities.
To earn the bonus, you must complete the following:
- Meet with a Chase Private Banker at a Chase branch to open your account by January 22, 2025
- Within 45 days of coupon enrollment, transfer an eligible amount of new money or securities to a combination of eligible checking, savings and/or investment accounts. Your bonus will be determined on day 45.
- Maintain the balance for at least 90 days from coupon enrollment.
The bonus amount depends on the amount of new money or securities you transfer into a combination of eligible Chase checking, savings and/or investment accounts. You must deposit at least $150,000 in new money or securities to earn the minimum bonus ($1,000). See bonus tiers below:
- Earn $1,000 Bonus for at least $150,000 in new money or securities
- Earn $2,000 Bonus for at least $250,000 in new money or securities
- Earn $3,000 Bonus for at least $500,000 in new money or securities
Your bonus will be deposited in your account within 40 days of completing these qualifying activities.
Chase Private Client has no monthly service fee when you keep an average beginning day balance of $150,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances, OR have a linked Chase Platinum Business Checking account. Otherwise, a $35 monthly service fee will apply. Eligible accounts exclude Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing accounts, J.P. Morgan Wealth Management retirement accounts, and CDs.
Best Student Checking Bonuses
Chase College Checking℠ – $100 Bonus
The Chase College Checking Account is the best bank account for students between the ages of 17 and 24 — not least because it has a category-leading bonus opportunity for new Chase customers.
It also comes with no monthly service fees (typically $12 per month) for college students up to five consecutive years.
For a limited time, when you open a new account by January 22, 2025, you may qualify for a $100 account opening bonus after completing qualifying activities. To qualify for this opportunity, do the following:
- Open a new Chase College Checking account using the link below
- Within 60 days, complete 10 qualifying transactions.
- Bonus will be deposited into your new account within 15 days of meeting the requirements.
Disclaimer: Terms apply. See offer page for more details.
Why Banks Offer Sign-Up Bonuses
You probably wonder why banks offer sign-up bonuses. Why would they give away ‘free money’?
The answer is simple – marketing.
Think about which bank account you’d be more willing to open: one with no sign-up bonus or one that pays you a couple hundred dollars to open and maintain.
Banks use sign-up bonuses as a marketing tool to get more customers. They figure that by offering the bonuses, they’ll get your business for the new account, plus you might use their other banking services, making the bank even more money.
How to Qualify for a Bank Bonus
Each bank has different requirements to qualify for a bank bonus. The key is to read the fine print to understand how to qualify. Most banks require more than simply opening an account.
For example, they may require a certain number of transactions or a minimum direct deposit. Be sure you can meet the requirements before choosing a bank bonus, paying close attention to the dates that coincide with the bonus.
For example, if a bank requires a minimum balance to earn the bonus, they usually specify how long you must keep the balance in the account either by the number of days or a specific date.
How Bank Bonuses Are Taxed
Bank bonuses, unlike credit card bonuses, are taxed. Just like you’d pay tax on interest earned on your bank account, you’ll pay interest on any bank bonuses, as the IRS considers it interest earned.
Don’t worry about remembering to claim the bank bonus. If you earn a bank bonus, the bank will send you a 1099-INT with the bonus included on the statement so you don’t forget to claim it on your taxes.
How Many Bank Accounts Should You Have?
You can have as many bank accounts as you want, but ideally, you should at least have a checking and savings account.
The savings account should hold the funds meant for an emergency fund or other financial goals. If you can manage the accounts and find accounts that won’t cost you a monthly maintenance fee, you can have even more accounts.
Keeping a separate emergency fund, for example, is usually suggested because it eliminates the risk of spending the money on another goal, leaving nothing for those unprecedented emergencies.
However, don’t open more bank accounts than you can manage or have bank accounts that cost you monthly maintenance fees because you have your money spread out amongst the accounts and can’t meet the minimum balance requirements to waive the monthly maintenance fees.
Are Bank Bonuses Worth It?
Bank bonuses are always worth it as long as you don’t open accounts that will cost you a monthly maintenance fee. Just ensure you can meet the requirements to meet the bank promotion and waive the monthly fee.
Final Word
Take your pick of these bank promotions. You’ve earned them. But don’t let bank account bonuses have the last word on where you choose to bank.
When choosing a bank, it’s important to find one that suits your needs – whether that’s favorable interest-bearing accounts, low or no fees, overdraft protection, access to potentially lucrative cash-back credit cards, or mobile-friendly online banking features.
Bank account promotions for new customers are wonderful, but taking advantage of permanent perks is a long-lasting bonus in its own right. You deserve a bank that’s willing to work every day to earn your business.
Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser, and have not been reviewed, approved, or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
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