We've found some of the best bank bonus and promotional offers available right now.
Banks make money in all sorts of ways, but one of the main things they want to do is have a lot of cash on hand — so they can loan it out to others, or meet their own legal liquidity requirements. That's why they offer you amazing bank bonus offers!
Because banks need giant piles of cash on hand, they need to offer the rest of us incentives to choose their FDIC-insured bank over someone else's.
Banks compete on their ability to offer personal service to local residents, on the number of their national locations, and on fee levels for basic services like checking and savings. But they also offer cash incentives to use their deposit and checking services! With the economy picking up, and interest rates rising, there seem to be more and more of these on offer.
Here's our list of the best ones!
Best Checking And Savings Promotions
Check out this quick summary, with more details below. Remember, terms and conditions apply to each offer!
Here's the list for personal checking and savings accounts:
Bank | Bonus | Expiration |
|---|---|---|
$3,000 | 10/16/2024 | |
$500 | 7/31/2024 | |
$500 or $350 | 9/9/24 | |
$400 | 9/3/2024 | |
$300 | 12/13/2024 | |
$300 | 8/31/2024 | |
$300 | 10/16/2024 | |
$300 | 12/31/2024 | |
$250 | 9/30/2024 | |
$200 | Ongoing | |
$100 | 10/16/2024 |
If you're looking for business promotions and offers, check out our full guide to the Best New Business Bank Account Promotions and Offers.
Note: The banking offers that appear on this site are from companies from which The College Investor receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The College Investor does not include all banking companies or all banking offers available in the marketplace.
Best Bank Bonus Offers Right Now
If you have a lot of cash that you don't mind having in the bank for a few months, these are the best promotions out there right now:
Up To $3,000 With Chase Private Client Checking℠
Chase Private Client Checking℠ is the top of the line Chase offering for customers. You get to experience a banking relationship that beings you more, including a team dedicated to you, no ATM fees worldwide, no Chase fees on incoming or outgoing wire transfers, and more.
And right now, you can get up to a $3,000 bonus when you open an account with qualifying activities.
You can earn $1,000 when you deposit $150,000, or earn $2,000 when you deposit $250,000, or earn $3,000 when you deposit $500,000 or more.
In order to qualify, within 45 days of coupon enrollment, transfer qualifying new money or securities to a combination of eligible checking, savings and/or J.P. Morgan Wealth Management non-retirement accounts (excludes Chase Personal and Business CDs, Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing, J.P. Morgan Personal Advisors Accounts, and J.P. Morgan Wealth Management retirement accounts). Your bonus will be determined on day 45. Maintain your new money for 90 days from coupon enrollment and enjoy your bonus. We'll add it to your account within 40 days.
Read our full Chase Bank review here.
Learn more about Chase Private Client here.
Get up to a $3,000 bonus!
$500 with Axos Rewards Checking
Axos Bank calls themselves America's most experienced digital bank. And their Rewards checking account hits every feature you'd expect from a top notch online bank.
Rewards Checking has no minimum balance requirements, no monthly fees, and no overdraft or insufficient fund fees. Plus, they offer unlimited domestic ATM reimbursements!
Axos Bank does require that you have good banking history to get approved.
What's great about this account is that it's monthly fee-free, but also pays interest. You can earn up to 3.30% APY right now! However, it's tiered, so here's what you need to know:
- Baseline: 0.40% APY when you receive monthly direct deposits totaling $1,500 or more. This is required to unlock the remaining tiers.
- Debit Card Spending or Personal Finance Manager: 0.30% APY when you use your Axos Visa Debit Card for a total of 10 transactions per month (min $3 transactions) or sign up for Personal Finance Manager in Online Banking.
- Managed Portfolios: 1.00% APY when you maintain an average daily balance of $2,500 in an Axos Invest Managed Portfolios Account.
- Self Directed Trading: 1.00% APY when you maintain an average daily balance of $2,500 in an Axos Invest Self Directed Trading Account.
- Loan Payment: 0.60% APY when you used your Rewards Checking account to make your full monthly Axos Bank consumer loan payment (mortgage, auto, and personal loans are eligible).
And right now, use the promo code RC500 when you apply for a Rewards Checking account by 7/31/24. Then have qualifying direct deposit(s) of at least $1,500 and a minimum balance of $3,000 to earn a $500 welcome bonus!
Read our full Axos Bank review here.
Earn a $500 bonus!
$500 with BMO Relationship Checking
The BMO Relationship Checking account based checking account that offers a lot of great perks, including unlimited non-BMO ATM transactions, $25 surcharge-fee rebates on non-BMO ATMs, and more.
Plus, right now you can earn a $500 cash bonus when you open a Relationship Checking account by September 9, 2024 and complete qualifying activities.
To qualify for the $500 cash bonus, you are required to:
- Open a a new Relationship Checking Account by September 9, 2024, and
- Have a total of at least $7,500 in qualifying direct deposits in the first 90 days
Read our full BMO Bank review here.
Learn more about BMO Relationship Checking Account here. Accounts are subject to approval. BMO Bank N.A. Member FDIC.
Earn a $500 bonus! At BMO Bank, Member FDIC.
Up To $400 With PNC Virtual Wallet
PNC Virtual Wallet has three primary features: Spend (checking), Reserve (earning interest on checking), and Growth (savings). In a nutshell, it’s a checking account with an interest-earning option.
To avoid the $7/month fee in the basic Virtual Wallet checking account, you’ll need to do $500/month in qualifying direct deposits, maintain a $500 balance, or be at least 62 years old.
Virtual Wallet with Performance Spend earns interest on balances of $2,000 or more. It has a $15/month fee, but you can avoid it in several ways — $2,000 in qualifying direct deposits, a $2,000 balance, or $10,000 in combined PNC consumer deposits.
Virtual Wallet with Performance Select also earns interest on balances of $2,000 or more. It has a $25/month fee that is waived by $5,000 in qualifying direct deposits; a $5,000 balance (including up to 7 linked checking accounts); or $25,000 in combined balances or PNC consumer deposits, and/or investments. This account is also eligible for the higher relationship rates.
And right now, they have a promotional offer where you can earn up to $400 when you complete qualifying activities. Offer valid through September 3, 2024. Member FDIC.
Earn $100 with a new PNC Virtual Wallet and you establish total qualifying direct deposits of
$500 or more to the new Virtual Wallet within the first 60 days.
Earn $200 when you establish total qualifying direct deposits of $2,000 or more to the new
Virtual Wallet with Performance Spend within the first 60 days.
Earn $400 when you establish total qualifying direct deposits of $5,000 or more to the new
Virtual Wallet with Performance Select within the first 60 days.
Read our full PNC Bank review here.
What To Know: Virtual Wallet, Virtual Wallet with Performance Spend and Virtual Wallet with Performance Select are 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 with Performance Select 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, or in MO (only in the greater Kansas City area), you can open the PNC Virtual Wallet Checking Pro account.
Earn up to a $400 bonus!
$350 with BMO Smart Advantage Checking
The Smart Advantage Account is a great basic checking account with $0 monthly maintenance fee (with paperless statements).
This account also gives you access to 40,000 fee-free ATMs! And, if you enroll in paperless statements, the $3 monthly fee for check images are waived.
Plus, right now you can earn a $350 cash bonus when you open a Smart Advantage Account by September 9, 2024 and complete qualifying activities.
To qualify for the $350 cash bonus, you are required to:
- Open a a new Smart Advantage Account by September 9, 2024, and
- Have a total of at least $4,000 in qualifying direct deposits in the first 90 days
Read our full BMO Bank review here.
Learn more about BMO Smart Advantage Account here. Accounts are subject to approval. BMO Bank N.A. Member FDIC.
Earn a $350 bonus! At BMO Bank, Member FDIC.
$300 with Key Smart Checking®
Key Bank offers the Key Smart Checking® Account. This checking account is a free, non-interest-bearing account that has no minimum balance requirement, offers automatic overdraft protection from a linked savings account, paper checks, and more!
They are very mobile friendly, have access to over 40,000 fee-free ATMs.
Plus, right now they are offering a great bonus offer! You can earn a $300 cash bonus when you open a Key Smart Checking® account by December 13, 2024 and complete qualified activities.
To qualify, you must do the following:
- Open a Key Smart Checking® account by December 13, 2024
- Make the minimum opening deposit of $10, 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. Accounts must not be closed at the time of gift payment.
Learn more about Key Smart Checking® here.
Read our full KeyBank review here.
Earn a $300 bonus!
$300 With First Tech Credit Union Rewards Checking
First Tech Rewards Checking is a solid free checking account offered by First Tech Credit Union.
Right now, you can earn a $300 bonus when you open a First Tech Credit Union Rewards Checking Account and complete qualifying direct deposits.
To qualify, you simply need to:
- Open a new First Tech Credit Union Checking Account
- Setup a Direct Deposit of $1,000 or more
- Receive three direct deposits by August 31, 2024
Once completed, you'll earn a $300 bonus!
Read our full First Tech Credit Union review.
Earn a $300 bonus!
$300 With Chase Total Checking®
Chase Total Checking® is the the main checking account for Chase customers. It offers everything you want in a checking account, including access to Chase's network of banks and ATMs, a debit card, and more.
There is a $12/month maintenance fee with Chase Total Checking®, but it's waived if you're able to meet one of the following requirements:
- 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 FedNow℠ 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.
And right now, you can get up to a $300 bonus when you open an account with qualifying activities.
Read our full Chase Bank review here.
Get up to a $300 bonus!
Up To $300 With PSECU
PSECU is Pennsylvania's largest credit union. They offer a top-notch free checking account with no monthly maintenance fees and no minimum balance requirements. Their accounts also offer access to over 70,000 surcharge-free ATMs, free checks, and debit card rewards!
And right now, you can get up to a $300 bonus when you open a account and complete qualifying activities.
- You earn $200 when you become a PSECU member using promo code RIGHTNOTE and add a free checking account with debit card. You also need to login to online banking and activate your debit card within 30 days. You also need to establish one or more qualifying payroll direct deposits that together total $500.
- You earn another $100 when you establish one or more qualifying payroll direct deposits that together total $500 per calendar month are maintained for the first 90 days and the total amount deposited is at least $1,500. You must also complete a minimum of 10 Eligible Debit Card Purchases. Eligible Debit Card Purchases are defined as individual purchases of at least $10 for a minimum overall purchase total of at least $100.
Earn up to a $300 bonus!
$250 with Fifth Third Checking
Fifth Third Bank offers the Fifth Third Momentum® Checking account. This checking account has no monthly maintenance fees, no minimum balance requirement, and access to over 40,000 fee-free ATMs.
Plus, right now they are offering a great bonus offer! You can earn a $250 cash bonus when you open an eligible Fifth Third checking account by September 30, 2024 and complete qualified activities.
To qualify, you must do the following:
- Open a new checking account by September 30, 2024.
- Make direct deposits totaling $2,000 or more within 90 days of account opening.
Your $200 cash bonus will be deposited into your account within 10 days of meeting requirements.
Read our full Fifth Third Bank review here.
Earn a $200 bonus!
$200 With Upgrade Rewards Checking
Upgrade Rewards Checking is currently offering a $200 bonus when you open a Rewards Checking account with a personal loan, and make three qualifying debit card transactions within the first 60 days.
The Upgrade Rewards Checking account is one of our top picks for free checking because there are no minimum deposits, no monthly maintenance fees, no ATM fees, and more!
Bonus: Right now, you can earn a $200 bonus if you combine the Rewards Checking account with an Upgrade personal loan and make 3 qualifying debit card transactions.
- Just open an Upgrade Personal Loan and Upgrade Rewards Checking Account
- Fund your account and make three debit card transactions within the first 60 days
- $200 bonus will be credited to your account within 60 days of completing the above requirements
Read our full Upgrade review here.
Earn a $200 bonus!
$100 with Chase Secure Banking℠
The Chase Secure Banking℠ is a solid basic checking account option that doesn't do any type of credit or banking score check. It does have a monthly fee, but if you need a solid banking option, it could be worthwhile.
Chase Secure Banking℠ has a $4.95 per month fee.
Bonus: Right now, you can get up to a $100 bonus when you open an account and complete qualifying activities. That's awesome!
Read our full Chase Bank review here.
Earn a $100 bonus!
$100 with Chase College Checking℠
The Chase College Checking℠ account is one of the best checking accounts designed for students. Students between the ages of 17-24 don’t have to worry about maintenance fees. You can have the fee waived for up to fives years as a student. This account comes with a debit card, and you’ll have mobile access.
And right now, you can get $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment! That's awesome!
Chase College Checking℠ has no monthly service fee for up to five years if you're a student between 17 and 24.
Read our full Chase Bank review here.
Earn a $100 bonus!
Other Great Savings Accounts
These accounts don't always have bank bonus offers, but they do have some amazing interest rates!
Check out our lists of:
Things To Remember
Done right, switching banks for bonuses can be a great way to make some extra side cash. But you do need to be careful: look at the terms and conditions and be sure you can avoid monthly fees, account closing fees, and so on. Also, remember that you'll have to pay income tax on this cash, so you might want to set some of it aside for that.
That said, if you pay careful attention to the terms of these offers, you can make much more than you make even by parking your money in a high-interest savings account. You might want to just do this once for a few hundred dollars, but if you invest a little more time, you can make thousands of dollars a year treating it as a regular side hustle.
And who among us doesn't like free money?
These offers change every month, but right now here's the best of the best on offer, divided into offers that require you to begin with large amounts of cash on hand, and offers that let you start with very little money.
Bank Bonus FAQ
Here are some of the most common questions we get about bank bonus offers and bank promotional offers:
What bank has the best promotions?
Some banks are known for having great promotions. Typically Chase Bank is well known for always offering some type of incentive for new customers.
Why do banks offer bonus offers?
Banks are always trying to get new customers, and offering a bonus or promotion is a great marketing practice.
What banks offer deals for switching banks?
We have our full list here where you can see what banks are offering deals for opening a new account.
Do banks give money for opening an account?
Yes! Some banks will give you money when you open a new account.
Can you get a bonus offer if you're not a new customer?
It depends on the bank and offer, and it's rare. However, every now and then a bank will offer a promotion to both new and to existing customers who deposit new money.
Final Thoughts
Overall, there are some great bank bonus offers out there right now. I'd advise you to decide what kind of bonus hustler you are: do you want to do this once while you're switching to a new account permanently? Or do you need a complex calendar to keep track of your multiple bonus accounts?
Be careful, but also, take advantage of free money if you're sure you can follow the rules! If this is all too much, check out our list of the best online banks and just park your cash there!
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared toward anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications, including the New York Times, Wall Street Journal, Washington Post, ABC, NBC, Today, and more. He is also a regular contributor to Forbes.
Editor: Clint Proctor Reviewed by: Richelle Hawley
