16 Best Bank Promotions and Bonuses

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Who doesn’t love free money? While there are very few “free lunches” in the world, there are plenty of bank promotions to earn money for opening a new account.

You can earn the bonus cash by making a qualifying deposit and other activities.

Here are the best bank promotions and bonuses for checking, savings, and new business accounts.

Chase Bank Promotions and Bonuses

To make sure this post is unbiased I will say that I use Chase for all my personal checking, saving and business needs. They have convenient local branches and it can be easy to waive the monthly service fees.

Here are some of their biggest bank promotions that Chase is currently running. You can apply for these promotions online or in-branch.

1. Chase Savings: $150 Bonus

What You Need to Know

Opening a Chase Savings account you can earn a free $150 bonus.

  1. Deposit at least $10,000 in new money within 20 business days
  2. Maintain a minimum $10,000 balance for at least 90 days
  3. Keep your account open for at least six months

There is a monthly fee of $5 but can be avoided if you do any of the following:

  • A minimum daily balance of $300
  • Have one or more repeating automatic transfers of $25 from your Chase Personal checking account
  • Having a linked premium Chase checking account (which is free for those under 18 years old) or Chase College account

How to Qualify For This Promotion

To qualify for this bank offer you must not have had a Chase checking account within the past 90 days. You also aren’t eligible if you have closed a Chase account with a negative balance or if you have a fiduciary account.

When Is This Expiring?

This offer runs through October 18, 2021.

2. Chase Business Complete Checking: $750 Bonus

What You Need to Know

A new Chase Business Complete Checking account can earn $750 bonus cash. This is one of the largest bonuses for a business checking account.

Complete these activities to earn the bonus:

  1. Open a new Chase Business Complete Checking account
  2. Deposit at least $10,000 in the first 30 days
  3. Maintain a minimum $10,000 average balance for the first 60 days
  4. Complete 25 qualifying transactions in the first 90 days

You will receive the signup bonus within 15 days of completing the activities.

Qualifying transactions include:

  • Debit card purchases (Insider Hint: No amount is too small. I charged some airport lunches, coffee, and other small business expenses and qualified for this offer.)
  • Chase QuickDeposit 
  • Chase QuickAccept
  • ACH (Credits)
  • Wire Transfers (Credits and debits are accepted)

There is a $15 monthly service fee that will apply unless you do one of the following:

  • Maintain a daily minimum balance of $2,000
  • Deposit at least $2,000 in Chase QuickDeposits
  • Spend at least $2,000 with a Chase Ink Business Credit Card
  • Maintain a linked Chase Private Client Checking account

The $300 bonus will be directly deposited into your checking account no more than 10 business days after you meet all requirements.

How to Qualify

To qualify for this bank offer you must be a new Chase business checking client. You also must not have opened a new Chase checking account within the past 90 days. You also aren’t eligible if you have closed a Chase account with a negative balance or if you have a fiduciary account.

When Is This Expiring?

This offer runs through October 21, 2021.

3. Chase Total Checking: $225 Bonus

What You Need to Know

By opening a Chase Total Checking account you can earn $225. You can apply online or at a local branch.

This bonus is relatively easy to earn. You only need to receive a qualifying direct deposit from an employer, pension or government benefit within 90 days of enrollment.

The bonus deposits into your account within 15 days.

You can waive the $12 monthly service fee with one of the following actions:

  • Monthly direct deposits of $500 or more
  • A minimum daily balance of $1,500
  • Keep an averaged daily balance of $500 in your Chase Total Checking and/or qualifying linked Chase bank accounts

How to Qualify

To qualify for this bank offer you must not have opened a Chase checking account within the past 90 days. You also aren’t eligible if you have closed a Chase account with a negative balance or if you have a fiduciary account.

When Is This Expiring?

This offer runs through October 18, 2021.

4. Chase College Checking: $100 Bonus

What You Need to Know

By opening a Chase College Checking account you can earn a free $100. You only need to complete 10 qualifying transactions in the first 60 days.

Qualifying transactions include:

  • Debit card puchases
  • Online bill payments
  • Zelle money transfers
  • Chase QuickDeposits
  • Direct deposits

The $100 bonus will be deposited into your checking account no more than 15 business days after you meet all requirements.

There is no monthly fee for up to five years on this account while you are still in college. You’re eligible for this account when you’re between 17 and 24 years old.

After your expected graduation date, you will be charged a $6 monthly fee on this account. But this fee can be avoided if you:

  • Have a regular direct deposit set up to this account
  • Maintain an average daily balance of $5,000 in this account

How to Qualify

To qualify for this bank offer you must not have had a Chase checking account within the past 90 days. You also aren’t eligible if you have closed a Chase account with a negative balance or if you have a fiduciary account.

When Is This Expiring?

This bank promotions also runs through October 18, 2021.

Citibank Promotions 

Here are the current Citibank account promotions. Note that terms may vary based on where you live.

5. Citibank Checking Account: Up To $1,500 Bonus

You can earn between $300 and $1,500 when you open a new Citi checking account and make qualifying deposits.

What You Need to Know

This promotion doesn’t necessarily require to enroll in a specific checking account or banking package.

Instead, your bonus amount depends on your minimum deposit and ongoing balance.

  • $300 cash bonus: Deposit between $15,000 and $49,999
  • $700 cash bonus: $50,000 to $199,999
  • $1,500 cash bonus: $200,000+

Qualifying deposits must occur within the first 20 days. Then, your ongoing balance must stay within the minimum deposit tier for 60 days starting 21 days after the initial account opening.

For example, you will need to deposit at least $50,000 within the first 20 days and maintain a minimum $50,000 daily balance from days 21 to 81 to earn a $700 bonus.

You will receive your bonus within 90 days of completing the deposit and ongoing balance requirements.

How to Qualify for This Promotion

To qualify for this Citibank offer you must not have had a Citibank checking or savings account within the last 180 calendar days.   

When Is Offer This Expiring?

This Citibank promotions runs through October 4, 2021.

6. Citibank Savings Account: Up to $2,000 Bonus

What You Need to Know

Opening a Citi savings account lets you earn between $20 and $2,000 bonus cash.

This bonus is similar to the checking account bonus. You must make a minimum deposit within the first 20 days and then maintain that balance for the next 60 days.

Your bonus amounts and deposit minimums are as follows:

  • $20 bonus: $10,000 to $24,999
  • $50 bonus $25,000 to $49,999
  • $100 bonus: $50,000 to $99,999
  • $200 bonus: $100,000 to $249,999
  • $500 bonus: $250,000 to $499,999
  • $1,000 bonus: $500,000 to $999,999
  • $2,000 bonus: $1 million or more

You will receive the bonus within 90 days of completing the deposit and balance requirements.

How to Qualify For This Bank Promo

To qualify for this Citibank offer you must not have had a Citibank checking or savings account within the last 180 calendar days.   

When Is Offer This Expiring?

This Citibank promotions also runs through September 30, 2021.

HSBC Checking Bonus Offers

The following HSBC bonus offers can let you use one of the world’s biggest banks.

7. HSBC Premier Checking: $450 Bonus

What You Need to Know

When you open an HSBC Premier Checking you can earn $450.

You must open a new Premier checking account and complete the following steps:  

  • Make recurring qualifying direct deposits totaling at least $5,000 to your Premier checking account for three consecutive months
  • The three month period starts as of the second full calendar month after account was opened 

The $450 “welcome deposit” will be credited eight weeks after completing all the qualifying activities.

When Is This Expiring?

This HSBC promotion also expires January 5, 2021.

Other Bank Promotional Offers

Here are some other physical banks and online banks offering bonuses.

8. Axos Bank

What You Need to Know

Axos Bank is an online-online bank that offers high-yield savings and rewards checking accounts for personal use. They also offer a self-directed trading platform.

Self-Directed Trading Promotion Starting November 4, 2021:

  • Become One of Our Inaugural Traders. Claim Your $100 Bonus.*
  • Begin your investment journey with just $2,500 – and we’ll give you $100* for coming aboard.

Read our Axos Bank review to learn more about this online bank.

9. Aspiration Spend & Save: Up to $200 Bonus

Aspiration is offering a $150 or $200 bonus depending on which account you open. The spending requirement is the same for either Spend & Save account.

What You Need to Know

You can earn up to $200 bonus cash by spending at least $1,000 in the first 60 days:

  • $150 bonus: Aspiration Standard account (no monthly service fee)
  • $200 bonus: Aspiration Plus ($5.99 monthly)

You will need to make a minimum $10 opening deposit and complete the purchases with your debit card.

It can take up to 120 days to receive your bonus cash.

How to Qualify

This offer is for new Aspiration Spend & Save customers.

When is This Expiring?

This offer is ongoing and doesn’t have an expiration date.

Read our Aspiration Bank review to find out more about the Spend & Save benefits.

12. Santander Simply Right Checking Account: $225 Offer

What You Need to Know

Santander Bank currently has a great offer if you just need a checking account. Their current offer allows you to a $225 bonus. You can sign up for this offer online by checking out their Simply Right Checking account page. The only two requirement are:

  • A minimum opening amount of at least $25 
  • Direct deposits totaling $1,000 or more within the first 90 days of account opening

There is a monthly fee of $10 on their basic checking account but can be avoided by making one transaction (deposit, transfer, payment, or withdrawal) during the calendar month to avoid the fee. Plus, there is no minimum balance!

How to Qualify For This Offer

To qualify for this Santander Bank offer you must not have opened an account in the last 12 months and can’t be combined with other offers. In order to receive the bonus, the checking account must remain open and in good standing.

When Is This Expiring?

This offer expires September 30, 2020.

13. Fifth Third Bank Essential Checking: $150 Bonus 

What You Need to Know

Fifth Third Bank currently has an offer for their Essential checking account. You will receive a $150 bonus when you sign up as long you meet the requirements. Check out their promo page to have your $150 coupon emailed to you. To qualify for the $150 bonus you must open a new Fifth Third Essential Checking account and complete the following steps:  

  • Make direct deposits totaling at least $1,000 within the first 60 days of opening the account

Your bonus will be credited to your new checking account within 10 business days of completing the qualifying activity requirements. There is a monthly fee of $11 (or $8 if you with monthly direct deposits totaling $500 or more) and can be avoided by doing one of the following requirements:

  • A combined monthly average balance of $1,500 across your deposit and investment accounts.
  • Spend at least $500 per month on a Fifth Third credit card.
  • Have a Fifth Third personal mortgage, auto loan or line of credit with an outstanding. balance.

How to Qualify

To qualify for this offer you must be a new Fifth Third Essential checking account customer. If you are an Express banking customer you can’t have closed an account within the last 12 months.

When Is This Expiring?

This offer expires on August 21, 2020.

14. Huntington Bank Asterisk-Free Checking: $150 Bonus

What You Need to Know

Huntington Bank has a $150 bonus when you open a new Asterisk-Free Checking account. All you have to do to qualify for the bonus is:

  • Make new money deposits totaling $ at least 1,000 within 60 days of account opening
  • Keep your new account open for at least 90 days

There’s no minimum needed to open the account, no minimum balance needed, and no monthly service fee.

You’ll earn your bonus within 14 days of completing all account requirements.

How to Qualify

In order to qualify for this bonus, you need to be a new Huntington bank checking customer having not had a Huntington checking account within the last 180 days.

When is This Expiring?

This offer expires October 7, 2020.

15. Huntington Bank 5 Checking Account: $200 Bonus

What You Need to Know

Huntington Bank currently has an offer for their Huntington 5 checking account. You will receive a $200 bonus when you sign up online or in a branch.

Getting started is easy, just deposit at least $1,000 within 60 days of opening the account. Keep your account open for an additional 90 days and you will receive the $200 offer.

Your bonus will be credited to your new checking account within 14 business days of completing the qualifying activity requirements. There is a low monthly fee of $5 that can be waived if you have at least $5,000 across all of your Huntington bank accounts.  

How to Qualify For This Offer 

To qualify for this offer you must be a new Huntington Bank customer and not have closed a past account within the past 180 days.   

When Is This Expiring?

This offer expires on October 7, 2020.

16. Bank of America Advantage Checking Account: $100 Bonus

What You Need to Know

Bank of America is offering a $100 bonus for all new customers who open new checking accounts. You have to order a new Bank of America Advantage Banking account using the link above.

In order to qualify for your bonus you need to set up at least two qualifying direct deposits of $1,000 or more within the first 90 days of opening your new account.

There are three Advantage checking accounts to choose from. All have varying opening deposit requirements and other fee information.

The SafeBalance account has a $25 minimum opening deposit. The $4.95 monthly fee is waived when you are a Preferred Rewards member.

The Plus banking account has a $100 minimum opening deposit. The $12 monthly fee is waived when you meet direct deposit requirements, minimum balance requirements or are a Preferred Rewards member.

The Relationship banking account has a $100 minimum opening deposit. The $25 monthly fee is waived when you meet the combined minimum balance requirement for all of your eligible Bank of America Accounts.

How to Qualify for This Offer

In order to qualify for this bonus, you need to be a new Bank of America checking customer and use this code when opening your account: DDX100CIS.

When Does This Offer Expire?

This offer expires December 31, 2021.

4 Things to Know About Bank Promotions and Bonuses

1. Check Fees & Terms Carefully 

There is a ton of fine print with any bank promotion that is offering free or “bonus” money. Make sure you understand exactly what you need to do in order to receive your free money.

Unfortunately, bank signup bonuses are taxable. But these offers are an easy way to make some extra income and also find a better bank account.

2. Understand That Your Credit Will Be Pulled

Most banks will do a soft credit pull when you open a new account. If you are worried about a hard credit pull to make sure to contact the bank directly.

Hard pulls can temporarily drop your credit score and stay on your credit report.

3. Save All of Your Receipts

Save all of your emails, chats, and transactions if you go to the bank in person.

If you have completed all of the necessary steps and still not received your money contact your bank immediately. I had this happen and they conveniently “lost” my offer.

Luckily I had the receipt to show that I was owed $200 as my bonus offer.

4. Follow Up If Needed

Again, these promotions change frequently and they have the ability to end these bank promotions before the expiration date. Always confirm with the bank that your offer and bonus are still valid before signing up.

Sign Up For an Offer Today

There are tons of great options to sign up for your bank promotion or bonus and receive free money for a new account. Make sure that you follow all requirements so you can receive your bonus!

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