Deposit $2,000 or Less to Score These Bank Account Bonuses
KEY POINTS
- Chase and Wells Fargo are offering $300 bank bonuses to new checking account clients.
- The SoFi Checking and Savings has a bonus worth $50 or $300, depending on how much you receive in direct deposits.
- Capital One is giving $250 to new checking account clients who meet direct deposits requirements.
Looking to make a little extra money this holiday season? Many banks are offering enticing bonuses when you open a new account -- a simple way to score extra cash with minimal effort. Although bonuses have requirements to meet, receiving $2,000 or less in direct deposits will qualify you for most of them. If you're not currently taking advantage of these bonuses, here are four to consider.
1. Chase Total Checking® ($300)
Chase is offering a $300 bonus when you open a new Chase Total Checking® and make direct deposits totaling at least $500 in the first 90 days. If you can set up an eligible direct deposit, this is one of the easiest bank bonuses to get.
To be eligible, you must be a new Chase customer who hasn't had a Chase account in the past 90 days. You also cannot have had a Chase account closed with a negative balance in the last three years.
This offer expires Jan. 22, 2025. Use this special link to redeem your offer before the bonus expires.
Our Picks for the Best High-Yield Savings Accounts of 2024
| Product | APY | Min. to Earn | |
American Express® High Yield Savings
Member FDIC.
APY
3.80%
Rate info
3.80% annual percentage yield as of December 27, 2024. Terms apply.
Min. to earn
$0
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
3.80%
Rate info
3.80% annual percentage yield as of December 27, 2024. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
Capital One 360 Performance Savings
Member FDIC.
APY
3.80%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn
$0
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
3.80%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
|
$0
|
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
APY
4.46%
Rate info
The annual percentage yield (APY) is accurate as of November 7, 2024 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn
$500 to open, $0.01 for max APY
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
4.46%
Rate info
The annual percentage yield (APY) is accurate as of November 7, 2024 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
|
$500 to open, $0.01 for max APY
|
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
The Chase Total Checking® has a (waivable) monthly fee of $12. To get the fee waived each monthly statement period, you just need to receive direct deposits totaling $500 or more, begin each day with a balance of $1,500 or more, or have a beginning day balance of $5,000 or more in this account and other qualifying Chase bank accounts.
2. SoFi Checking and Savings ($50 or $300)
Opening a new SoFi Checking and Savings account could score you a $50 bonus when you receive anywhere from $1,000 to $4,999 in direct deposit within a 25-day evaluation period. This bonus becomes $300 if you receive $5,000 or more in direct deposits within the same 25-day period.¹
To be eligible, you must be a new SoFi Checking and Savings customer, or a current client who has not set up direct deposits.
While the $50 bonus ranks low among the top bank bonuses, the $300 bonus sits among the best.
The SoFi Checking and Savings account has no fees whatsoever.³ It's also one of the few checking and savings account hybrids. What's more, the checking account is interest-bearing -- a rare feature for a free account.
3. Wells Fargo Everyday Checking ($300)
Wells Fargo currently has a compelling welcome offer for one of its checking accounts. Opening a new Wells Fargo Everyday Checking with a deposit of at least $25 and making direct deposits totaling $1,000 or more within 90 calendar days will earn you a $300 bonus. Use this special application page to get this offer before it expires on Jan. 8, 2025.
To be eligible for this bonus, you can't have received a similar Wells Fargo checking account bonus within the last 12 months. What's more, you must keep the account open for at least as long as it takes for the bonus to be deposited.
This account has a monthly maintenance fee of $10, which can be waived in the following ways.
- Maintain a $500 minimum balance
- Receive at least $500 in qualifying direct deposits each fee period
- Be between 17-24 years old and listed as the primary account holder
- Link the account to a Wells Fargo Campus ATM or Debit Card
4. Capital One 360 Checking ($250)
For an easy $250 bonus to snag this month, check out the Capital One 360 Checking account. To get this bonus, you must open a new Capital One 360 Checking account with promo code CHECKING250 and receive at least two direct deposits of $500 each in the first 75 days.
Eligibility for this bonus includes those who haven't had a Capital One 360 Checking, Simply Checking, or Total Control checking since Jan. 1, 2022.
This account does not have a monthly fee and even earns a low percentage of interest. While Capital One doesn't have the same major national bank presence as Wells Fargo and Chase, it does have some locations for in-person banking consultations.
Keep in mind that bank bonuses are taxable, so you'll want to set a portion of your bonus aside for tax purposes. Other than that, snagging one of these bank bonuses can give you a little extra money to spend (or save) this holiday season. Check out our full list of bank bonuses for this month and take advantage of these deals while they're still around.
Our Research Expert
Steven Porrello writes about personal finances topics ranging from credit card offers to Costco deals to choosing the best places to park your cash.
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SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.