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Best Bank Bonuses and Promotions of 2024

Review Updated
Robin Hartill, CFP
Author: Robin Hartill, CFP
Robin Hartill, CFP
Robin Hartill, CFP
Writer

Robin Hartill, CFP®, is Motley Fool Money’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including NerdWallet and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column. She is based in St. Petersburg, Florida.

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| 1 other [ + ]
Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Whether you're looking for bank bonuses with immediate sign up bonuses, savings account promotions, or checking account offers, you're in the right place.

Read on for the best bank promotions and details on how these bonuses work.

  • Our team of experts assessed 100+ banking institutions
  • We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
  • Our bank ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased
From the author: Robin Hartill, CFP
Image of reviewer

My favorite bonus this week: The SoFi Checking and Savings bonus of up to $300¹ is icing on the cake when you open one of these feature-packed accounts. Even if you don’t qualify for the bonus, the account comes with a competitive APY, no monthly fees, and early direct deposit, making it a good place to park your hard-earned cash.

Apply for a SoFi Checking and Savings account

Best bank promotions of December 2024 by account type:

Best checking account bonuses

Best savings account bonuses

Best bank account referral bonuses

  • Chime: $100 for you and a friend

Best business bank account bonuses

Best checking account promotions

Here's a look at some of the best bank promotions available on checking accounts right now.

SoFi Checking and Savings: Up to $300 bonus

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Dec 20, 2024

SoFi Checking and Savings

Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Offer Alert
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
APY
up to 4.00%² Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. To Earn APY
$0
  • Competitive APY on both Savings and Checking
  • No account fees³
  • Welcome bonus up to $300 (direct deposit required)¹
  • Early access to direct deposits⁶
  • Tools to help you track savings goals
  • Unlimited number of external transfers (up to daily transaction limits)
  • ATM access⁵
  • FDIC insured (up to $2M with opt-in to SoFi Insured Deposit Program)⁴
  • Combo account only; no stand-alone savings or checking
  • Maximum Savings APY requires direct deposit
  • Overdraft protection⁷ requires monthly direct deposit minimum
  • No branch access; online only

For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, there's the opportunity for a bonus of up to $300¹ and a long list of extra account features. Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships.

You can earn the maximum APY either by making direct deposits into checking or savings, or by depositing $5,000 or more every 30 days. Learn more.



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.

² SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period 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 stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. 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/.

⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional

FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms

See list of participating banks at SoFi.com/banking/fdic/receivingbanks

⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

Read Full Review

What you get: Up to $300

How you earn it: New SoFi Checking and Savings (member FDIC) customers will earn a cash bonus for setting up direct deposits to their account. The size of the bonus depends on how much you receive in direct deposits during a 25-day evaluation period that begins on the day your first direct deposit arrives in your account. You'll receive:

  • $50 if you receive anywhere from $1,000 to $4,999 in direct deposits
  • $300 if you receive $5,000 or more in direct deposits

When you'll get it: After the 25-day evaluation period is up, SoFi® will deposit the appropriate bonus in your account within seven business days if you qualify.

How you qualify: This offer is available to new and existing SoFi Checking and Savings customers who don't have a history of direct deposits to their account. Existing SoFi® members who have already set up direct deposits do not qualify for this promotion.

Where to open an account: You can open a SoFi Checking and Savings account on SoFi®'s website.

Monthly fees: The SoFi Checking and Savings account doesn't charge monthly maintenance fees.

Offer expires: This offer ends Dec. 31, 2024.

Apply for a SoFi Checking and Savings account

Chase Total Checking®: $300 bonus

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Dec 20, 2024

Chase Total Checking®

Open Account for Chase Total Checking®

On Chase's Secure Website.

Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Open Account for Chase Total Checking®

On Chase's Secure Website.

APY
0%
Min. To Earn APY
N/A
  • Largest bank in the U.S. in terms of assets 
  • More than 15,000 ATMs and 4,700 physical locations
  • Wide range of financial products
  • User-friendly online and mobile banking tools
  • No minimum deposit to open
  • Chase Overdraft Assist
  • Low APYs on savings accounts and CDs
  • $12 monthly maintenance fee waived only with qualifying activity

Chase Total Checking® combines tons of features with superior customer service. It's a safe place to put your money. You can walk into any of thousands of branches and withdraw cash from more than 15,000 ATMs in Chase's network. You can access everything online, too. It's one of the best checking accounts for in-person and over-the-phone customer service.

  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ – no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*


*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

**Monthly service fee is $12, or $0 with one of the following, each monthly statement period:

  • 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,
  • OR a balance at the beginning of each day of $1,500 or more in this account,
  • OR 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.
Read Full Review

What you get: $300

How you earn it: New Chase customers can earn a $300 bonus by opening a Chase Total Checking® account and making direct deposits totaling at least $500 in the first 90 days.

When you'll get it: You'll receive the bonus as a deposit to your checking account within 15 days of meeting the requirements.

How you qualify: You're eligible for this offer if you're a new Chase customer who hasn't had a Chase account in the past 90 days. If you've closed a Chase account with a negative balance in the past three years or you've received a bonus for opening a Chase checking account in the past two years, you won't qualify.

Where to open an account: You can open a Chase Total Checking® account online or request a coupon online by providing your email address that you can take to a Chase branch to open an account.

Monthly fee: The Chase Total Checking® account charges a monthly fee of $0 if certain conditions are met; otherwise, $12**.

Offer expires: The offer is good through Jan. 22, 2025.

Apply for a Chase Total Checking® account

Capital One 360 Checking: $250 bonus

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Dec 20, 2024

Capital One 360 Checking

Read Review
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0.10%
Min. To Earn APY
$0
  • Branches and Capital One Cafes in some states
  • Variety of accounts
  • Robust digital platform and app
  • Great customer service
  • Higher APY available at other financial institutions

Capital One boasts a top-rated mobile app and has over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has over 450 locations and 50 Capital One Cafes, where customers can bank, get a cup of coffee, and ask for advice from a certified money coach. However the APY is lower than other online banks.

What you get: $250 bonus

How you earn it: Open a new Capital One 360 Checking account using promo code CHECKING250, then make at least two direct deposits of at least $500 each in the first 75 days.

How you qualify: You won't qualify if you've had a Capital One 360 Checking, Simply Checking, or Total Control checking since Jan. 1, 2022.

When you'll get it: Within 60 days of meeting all requirements

Where to open an account: Online

Fees: No monthly fees

Offer expires: No expiration date listed

Wells Fargo Everyday Checking: $300 bonus

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Dec 20, 2024

Wells Fargo Everyday Checking

Read Review
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0%
Min. To Earn APY
N/A
  • New account $300 cash bonus
  • Large network of physical branches 
  • Large network of free ATMs
  • No minimum daily balance required
  • Overdraft protection available
  • Need to meet certain requirements to avoid $10 monthly fee
  • $25 minimum opening deposit
  • Does not earn interest
  • Fee for out-of-network ATM withdrawals

Wells Fargo offers convenient banking solutions with a widespread network of approximately 4,700 branches and 12,000 ATMs. You can earn a generous $300 bonus by simply opening a new checking account with a minimum deposit of $25 and receive a total of $1,000 or more in qualifying direct deposits within 90 days of opening the account. To avoid the $10 monthly fee, you will need to do one of the following: receive $500 in direct deposits per month, maintain a minimum balance of $500, link your account to a Wells Fargo Campus ATM or Campus Debit Card, or be age 17-24.

What you get: $300 bonus

How you earn it: Open a new Wells Fargo Everyday Checking account from this page by Jan. 8, 2025 with a deposit of at least $25. Make direct deposits totaling $1,000 within 90 calendar days of opening the account. (Mobile deposits and transfers from other accounts don't count.)

When you'll get it: After the 90-day qualification period, the bonus will be credited to your account within 30 days.

How you qualify: Like with many bank account bonuses, you qualify if you do not have an existing personal checking account with Wells Fargo. Customers cannot have received a similar Wells Fargo consumer checking bonus within the last 12 months. Wells Fargo employees aren't eligible. The account must remain open for the entire 90 days, plus however long it takes for the bonus to be deposited, in order to collect the bonus.

Where to open an account: Use this special application page to apply online, or get a code you can use when applying at your local branch.

Monthly fees: Wells Fargo Everyday Checking charges a $10 monthly fee, but you can get that waived with any one of the following:

  • Maintaining a $500 minimum balance
  • Having at least $500 in qualifying direct deposits in each fee period
  • If the primary account holder is 17-24 years old
  • If the account is linked to a Wells Fargo Campus ATM or Debit Card.

Offer expires: This offer is good through Jan. 8, 2025.

Best savings account promotions

Savings account bonuses are somewhat rarer than checking account bonuses, as the main appeal of a savings account is often its APY. That said, some banks do offer competitive bonuses when you open a new savings account.

As you’ll see, the deposit requirements for a savings account bonus tend to be substantially higher than the requirements to score a checking account bonus.

Discover® Online Savings: $150 or $200 bonus

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Dec 20, 2024

Discover® Online Savings

Open Account for Discover® Online Savings

On Discover Bank's Secure Website.

Member FDIC.
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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= Poor
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Open Account for Discover® Online Savings

On Discover Bank's Secure Website.

APY
3.75%
Min. To Earn APY
$0
  • Competitive APY
  • No account fees
  • Comfort of a well-known brand and reputation
  • 24/7 customer support
  • FDIC insured
  • No ATM access
  • No branch access; online only

The Discover® Online Savings account promises customers an above-average interest rate and few limitations. Most people won't ever encounter fees with this account, and you won't have to worry about keeping track of your monthly withdrawals either.

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code TMF924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. 

What to Know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank.

Read Full Review

What you get: $150 or $200 bonus

How you earn it: Open a new Discover® Online Savings account using offer code TMF924. To earn $150, deposit at least $15,000 within 45 days of opening the account. To earn $200, deposit at least $200 within 45 days of opening the account.

When you'll get it: The bonus will be credited to your account within 60 days of qualifying.

How you qualify: You won't qualify if you're an existing or past Discover savings customer.

Where to open an account: Online

Monthly fees: The account has no monthly fees.

Offer expires: The offer expires March 13, 2025.

Apply for a Discover® Online Savings account

Best bank account referral promotions

Some banks will pay you when you refer friends and family members to join using your personalized link. Often, both you and the person you refer will be able to score a bonus.

Chime: $100 for you and a friend

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Dec 20, 2024

Chime Checking Account

Read Review
Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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= Poor
Read Review
APY
0%
Min. To Earn APY
$0
  • Get direct-deposited funds up to two days early
  • Get instant paychecks with MyPay
  • No monthly maintenance or overdraft fees
  • No minimum balance requirement
  • No foreign transaction fees
  • No ChexSystems check to open an account
  • Free peer-to-peer (P2P) payments
  • Overdraft up to $200 without fees with SpotMe
  • No physical branch locations
  • Mediocre customer service

Chime Checking is a fee-free account that makes it easy to get paid early. It's a great option for folks worried about getting hit with surprise fees -- Chime has none of those. It's a great checking account for beginners wanting simplicity.

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

*Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

What you’ll get: $100 for you, plus $100 for the person you refer

How you earn it: Tap “Invite friends, get paid” in the Chime mobile app to send someone a link, or get a customized link on the “Invite friends” screen that you can share on social media. If a friend signs up using your link and makes a qualifying deposit of $200 within 45 days, you’ll each get $100.

When you’ll get it: Chime reportedly pays the bonus within two business days after all requirements have been met.

How you’ll qualify: To qualify, your referral must use your unique referral link and be a new Chime customer.

Where to open an account: Online

Monthly fees: None

Offer expires: No expiration date listed

WARNING SCL [bankaccount slug=chime-spending field=apply_url] does not generate a link. Anchor tag will not render in production.Apply for a Chime Checking Account

Best business bank account promotions

If you own a business, you may also be able to earn a bonus for opening a new business bank account.

Chase Business Complete Checking: $300 bonus

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Dec 20, 2024

Chase Business Complete Checking

Read Review
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0%
Min. To Earn APY
N/A
  • Account fee can be waived
  • New account bonus with qualifying activity
  • Huge footprint of brick-and-mortar locations
  • Great variety of accounts and services
  • Account fee is high if not waived
  • Monthly cash deposit limits

A solid option for business owners who can maintain the requirements for the fee waiver and who want easy access to in-person banking. While the Business Complete account isn't free by nature, meeting the minimum balance to waive the fee is likely doable for many small businesses.

What you’ll get: $300 bonus

How you earn it: Open a new Chase Business Complete Checking account before Oct. 17, 2024, and deposit at least $2,000 within the first 30 days. You’ll need to maintain a minimum $2,000 for 60 days and complete at least five qualifying transactions within the first 90 days.

When you’ll get it: Within 15 days of meeting all qualifications

How you’ll qualify: You’ll only qualify if your business doesn’t have a Chase business checking account. If your business has closed a Chase banking account in the past 90 days or it had a Chase account closed with a negative balance in the past three years, you won’t be eligible for the offer.

Where to open an account: Online or at a branch

Monthly fee: The account charges a $15 monthly fee that’s waived if you maintain a minimum daily balance, make purchases using your Chase Ink® business credit card, or accept credit and debit card payments with QuickAccept®.

Offer expires: Jan. 16, 2025

Bank of America Business Checking: $200 bonus

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Rates as of Dec 20, 2024

Bank of America Business Advantage Fundamentals

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Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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APY
0%
Min. To Earn APY
N/A
  • Account fee can be waived with qualifying activity
  • Competitive monthly cash deposit limit
  • Large footprint of brick-and-mortar locations
  • Account fee is high if not waived
  • Wire transfer fees

Bank of America is a good choice for cash businesses thanks to a very competitive monthly cash limit and an account fee that can be waived with qualifying activity.

What you’ll get: $200 bonus

How you earn it: Open a new Bank of America eligible Business Checking account by Dec. 31, 2024, and make eligible new money deposits of at least $5,000 in the first 30 days. Then, maintain a $5,000 balance for at least days 31 through 90 after opening the account.

When you’ll get it: Within 60 days of meeting all qualifications

How you’ll qualify: The offer is only available if you’ve had a Bank of America Business Advantage Checking account in the past 12 months. Bank of America employees aren’t eligible for the offer.

Where to open an account: Online

Monthly fee: The Bank of America Business Advantage Fundamentals charges a $16 monthly fee that’s waived if you maintain a combined average balance of $5,000, make at least $250 of new purchases using you business debit card, or become a member of Preferred Rewards for Business.

Offer expires: December 31, 2024

What should I look for when choosing a bank account with a bonus or offer?

Here's what you should look for when you're ready to open a bank account with a bonus offer.

Valuable long-term features

A bank bonus is nice, but it's a one-time offer. Once you've earned it, you're stuck with the bank account. So it doesn't make sense to open an account for the bonus alone if it doesn't have the features that will help you manage your money long term. The best bank deals will connect you with a bank you'll love for years to come. For example, if you're opening a savings account, look for a high yield savings account with a bonus -- that way, you'll earn interest for years after the bonus is gone.

Ability to qualify

There's no sense in signing up for an account that offers one of the best bank bonus offers if you doubt your ability to meet the qualification requirements necessary to earn that bonus. Make sure you review all criteria necessary to earn the bonus first and note any deadlines so you don't accidentally disqualify yourself.

Impressive bonus

All other factors being equal, you may as well go for the bank account that offers the largest bonus.

What rules apply to bank promotions?

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!

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How can I maximize bank promotions and offers?

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.

Why do banks have promotions?

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.

How to compare bank bonuses

Wondering how to decide which bank bonus is the best? Here's a few things we look at:

  1. Will you use this bank account long term? Does it have the features you need, like a debit card, low or no fees, or a sparkling APY? After the bank bonus is gone, it's just you and your checking or savings account...make sure it's a bank account you like!
  2. Can you qualify for the bonus? Most bank bonuses aren't available to everyone, and some are harder to earn than others. Find a bonus offer you know you can earn.
  3. How much is the bonus? In this case, bigger is better. But you probably already guessed that.

FAQs

  • 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.

  • Yes, bank bonuses are usually considered interest income for tax purposes. Many banks will send you a 1099-MISC and/or a 1099-INT to let you know how much you earned from the bonus plus interest. However, even if your bank doesn’t send you these forms, you’re still responsible for reporting the income when you file your taxes.