Unlock These Bank Account Bonuses by Depositing Just $1,000 or Less
KEY POINTS
- You can get $250 with a new Capital One 360 Checking by receiving at least two direct deposits of $500 each.
- A new Wells Fargo Everyday Checking comes with a $300 bonus when you meet qualifying direct deposit activities.
- Snag $300 on a new Chase Total Checking® with direct deposit totaling $500 in the first 90 days.
A bonus for opening a new checking account? Sounds like a scam your uncle would email you about, but it's true. Many banks are making it more rewarding to switch accounts by offering you a bonus when you meet qualifying activities. These days, some bank bonuses are big enough to cover grocery bills for a few weeks.
If you're already on the hunt for a new bank, let's take a look at today's best bank bonuses.
1. Capital One 360 Checking ($250 bonus)
The deal: Get $250 when you open a new Capital One 360 Checking account with promo code CHECKING250 and make at least two direct deposits of at least $500 each in the first 75 days.
The deets: The Capital One 360 Checking is one of my favorite checking accounts. It has no monthly fees, no minimum balance requirements, and over 450 brick-and-mortar locations for face-to-face interactions. Getting a $250 bonus on $500 in direct deposits is also one of the easiest bonuses to snag on this list.
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. |
2. Wells Fargo Everyday Checking ($300 bonus)
The deal: Get a $300 bonus when you open a new Wells Fargo Everyday Checking account from this page by Jan. 8, 2025 with a deposit of at least $25. Then make direct deposits totaling $1,000 within 90 calendar days from account opening. Note: mobile deposits and transfers from other accounts don't qualify.
The deets: If you're looking for a big national bank, a Wells Fargo Everyday Checking account might check all your boxes. The account has a $10 monthly fee, but it can be waived with some basic account activity, like getting at least $500 in qualifying direct deposits each fee period.
3. Chase Total Checking® ($300 bonus)
The deal: Get a $300 bonus when you apply for a Chase Total Checking® account using this link and make direct deposits totaling at least $500 in the first 90 days.
The deets: The Chase Total Checking® is a popular checking account for its low monthly fee ($12) and access to over 4,700 Chase bank branches. The monthly fee can be waived in various ways, including direct deposits totaling $500 or more each fee cycle.
Honorable mention: SoFi Checking and Savings ($300 bonus)
The SoFi Checking and Savings (member FDIC) offers an all-around great package for a checking account. For one, it has no fees, making it stand out from many of the checking accounts listed above.³ It also doubles as a savings account with an APY that has remained competitive despite the industry-wide drop in rates.
What's more, it comes with a $300 bank bonus when you apply through the link on our review page and receive $5,000 or more in direct deposits within a 25-day evaluation period.¹ That puts it on par with the best bank bonuses on our list.
To be sure, bank bonuses aren't the only reason to switch banks. They're not even the best reason. Before you make the switch, take a look at what the account is offering you and be sure it fits all your banking needs. And if you're in the market for a savings account and not a checking account, take a look at our curated list of best high-yield savings accounts.
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.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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/.