Every American needs a good checking and savings account. But if you’re thinking about signing up for a new account, it’s always wise to check out the latest bank account bonus offers and special deals first.
These days, several top US banks offer special perks at the point of account opening to new customers who decide to open an account online. These can range from lower monthly fees and 24/7 customer support to promotional cashback offers and special cash bonuses for new account holders.
But why have bank account bonuses become so popular all of a sudden?
There are tons of reasons top US banks might decide to offer attractive bank account bonuses to customers opening a new bank account, regardless of whether it’s a first-time checking account or a shiny new savings account.
The main reason, however, is simply that banking in the US is growing increasingly competitive, and, well, every bank or credit union wants your business.
Right now, you can get a cash bonus ranging from $100 – $1,000 within just a few days of account opening with several major providers. Some of these deals require a qualifying direct deposit to be made, while others offer an amazing bank bonus seemingly for nothing, just to secure your custom. Below you can see what kind of cash bonuses are available.
Best Bank Account Bonuses and Promotions
Let’s take a look at 10 of the top bank account bonuses currently available on the US market:
| Account Type | Bank Bonus | Promo Code | Minimum Deposit | Direct Deposit | Expiry Date | |
| Axos Bank | Basic Business Checking Account | $100 Bonus | EARN100 | Yes | No | N/A |
| Alliant Credit Union | Ultimate Opportunity Savings Account | $100 Bonus | N/A | $100 a Month Over 12 Months | N/A | 12/31/21 |
| Bank of America | Bank of America Advantage Banking Account | $100 Bonus | DDY100CIS | $250 Qualifying Deposit or $1,500 Minimum Daily Balance | Yes | 12/03/21 |
| Chase | Chase Business Complete Checking Account | $300 Bonus | Must Be Requested Online | $2,000 Within 30 Days | No | 07/23/21 |
| CapitalOne | 360 Checking Account | $150 Bonus | BONUS150 | $500 Within 75 Days | Yes | 08/17/21 |
| HSBC | New HSBC Premier Checking Account | $450 Welcome Deposit Or: 3% Cash Bonus up to $600 | N/A | $15,000 Over 3 Months | Yes | 08/31/21 |
| TD Bank | Beyond Checking Account | $300 | N/A | N/A | Yes | N/A |
| Citibank | Citibank Account Package | $300 | N/A | $15,000 | N/A | 10/04/21 |
| Citibank | Citi Priority Account Package | $700 | N/A | $50,000 Minimum Balance Across Citi Accounts | N/A | 10/04/21 |
| Huntington Bank | Huntington Checking Account 5 | $200 | N/A | $1,000 | N/A | 10/07/21 |
Methodology
Here at FiLife, we review bonuses and promotions offered by banks and credit unions from all across the United States. Both brick-and-mortar and online bonuses are considered, and eligible offers are assessed on return potential, cross-state availability and eligibility factors. We also pay close attention to time and deposit limits, monthly fees and various other factors. The 10 offers outlined above and discussed throughout this article were updated in July 2021.
Best Bank Bonuses in Detail – Savings Account Bonuses, Checking Account Bonuses and More
Whether you’re opening a high-yield savings account, a brand-new business account or just switching to a new checking account provider, it’s always wise to compare bank account bonuses across the market before diving in and just claiming the first bonus you see advertised. This will help you to settle on the most suitable deal for your circumstances. Let’s take a closer look at our 10 favourite special offers available right now.
1. Axos Bank – Basic Business Checking Account
Overview:
Axos Bank are best known for their state-of-the-art digital services. The bank caters toward both business and personal banking, but it’s their Basic Business Checking Account that’s offering the best bonus at the time of writing. New customers can expect a tasty $100 reward without jumping through too many hoops, top-notch security and an FDIC insured account.
What you’ll get:
- $100 bonus
- Zero monthly maintenance fees
- Zero minimum monthly balance requirements
- First 50 checks free
Offer expires:
N/A
How to get it:
Using promo code EARN100, new customers can apply for this great bonus quickly and easily online here. Technically, there is no minimum balance requirement to claim this deal, but you’ll still need to put down a $1,000 minimum opening deposit. Your bonus will become available within 5 business days, but it’s worth noting that you could incur a $50 fee if you decide to close your account within 180 days of account opening – so tread carefully with this one.
Where to open:
Who can qualify:
The account is available to both new and existing Axos customers, but new funds are required upon account opening. Only one promotional bonus will be awarded.
When you’ll get it:
The cash bonus will be disbursed within 5 business days of your third statement cycle date.
2. Alliant Credit Union – Ultimate Opportunity Savings Account
Overview:
Alliant Credit Union are one of the top 10 largest credit unions in the US. They offer award-winning savings and checking accounts, combined with some truly superb online banking services. Customers can expect excellent rates, top-tier customer service and easy-to-use applications – as well as a healthy cash bonus.
What you’ll get:
- $100 bonus
- $0 in monthly fees (when eStatements are selected)
- No earning tiers
- No minimum or maximum balance fees
Offer expires:
12/31/21
How to get it:
Apply for a new Ultimate Opportunity Savings Account online here and put down a minimum deposit of $100 a month for 12 months running. By doing so, you’ll get your hands on a $100 bonus and also benefit from Alliant’s amazing interest rate of 0.55% APY.
Where to open:
Who can qualify:
Pretty much anyone can apply to become an Alliant Member, but making those $100 qualifying deposits within the restrictions is absolutely essential. You’ll also need a minimum balance of $5 at all times to keep your account open.
When you’ll get it:
After meeting the above requirements over the course of 12 months, you’ll automatically receive your bonus into your Ultimate Opportunity Savings Account.
Monthly fee:
$0 if you select eStatements.
3. Bank of America – Bank of America Advantage Banking Account
Overview:
Bank of America are quite literally a household name in American Banking. Customers get access to top-notch online and in-branch experiences and a trusted reputation that’s hard to beat in the industry. However, like many longstanding banking institutions, the interest rates aren’t always so great on savings products.
What you’ll get:
- $100 bonus
- A $12 monthly fee waiver with one qualifying direct deposit of $250 or more and/or a $1,500 minimum daily balance
Offer expires:
12/03/21
How to get it:
New Bank of America customers can claim this offer here by opening a Bank of America Advantage Banking Account and entering the promo code DDY100CIS. However, you’ll need to deposit $250 at the point of account opening, too. This promotion is also available on other BoA account types – but eligibility may differ slightly, so always double-check the T&Cs.
Where to open:
Who can qualify:
Only online customers who are opening a checking account for the first time will qualify. You must not have held a Bank of America personal checking account within the past 12 months.
When you’ll get it:
You’ll receive the bonus within 60 days of meeting BoA’s eligibility requirements.
Monthly fee:
$12 or $0 if you maintain the minimum daily balance and/or direct deposits stated above.
4. Chase – Chase Business Complete Checking Account
Overview:
Chase offer commercial banking, credit cards, mortgages, investment accounts and the full gamut of traditional banking services. Customers can bank from anywhere in the US using awesome apps and online tools. This bank is also especially well-known for offering regularly rotating bonuses and referral promotions to its customers.
What you’ll get:
- $300 bonus
- Multiple fee waiving options
- Transparent pricing
- Same-day deposits
Offer expires:
07/23/21
How to get it:
After requesting a unique bonus code from Chase here, customers can get their hands on that $300 bonus by opening a sparkly new Chase Business Complete Checking Account. You’ll then need to deposit $2,000 or more within 30 days, complete five qualifying transactions and make sure your account balance doesn’t fall below $2,000 for 3 months.
Where to open:
Online here or in-person at a Chase branch
Who can qualify:
Chase will only award one bonus per applicant, and you must not have claimed any previous Chase checking account bonuses within the last 2 years.
When you’ll get it:
Complete all the above requirements within 15 days and your bonus will be granted automatically.
Monthly fee:
$15, unless you maintain a set minimum daily balance or opt for deposits from QuickAccept transactions.
5. CapitalOne – 360 Checking Account
Overview:
CapitalOne are probably best-known for their credit cards and auto loans, but that doesn’t mean their standard checking accounts don’t offer excellent value and attractive rewards, too. Customers get to enjoy superfast online banking and mobile apps, unrivalled flexibility on credit cards and a one-time bonus when opening new checking accounts.
What you’ll get:
- $150 bonus
- No frustrating fees or minimum requirements
- Fast application process
- Access to 70,000 fee-free ATMs across the US
Offer expires:
08/17/21
How to get it:
You’ll need to enter the promo code BONUS150 when opening a new 360 Checking Account online here. After that, you’ll also need to send two direct deposits of $250 each or more within the first 75 days of account opening.
Where to open:
Who can qualify:
This offer only applies to brand new 360 Checking Accounts, with only one promotional code allowed per account opening.
When you’ll get it:
You’ll receive the bonus within 60 days of meeting the above criteria.
Monthly fee:
$0
6. HSBC – New HSBC Premier Checking Account
Overview:
HSBC often refer to themselves as “the world’s local bank” and with branches in practically every country on the planet, they’re a great choice for anyone who travels regularly. American customers get to pick from a competitive range of checking accounts, savings accounts, credit cards and mortgages – and the bank’s online banking services are truly state-of-the-art.
What you’ll get:
- Either a $450 welcome deposit or a 3% cash bonus up to $600
- No wire transfer or foreign transaction fees
- No ATM fees worldwide
Offer expires:
08/31/21
How to get it:
HSBC’s “no borders” Premier Checking Account can be applied for online here. You’ll need to make 3 recurring qualifying direct deposits totalling at least $5,000 per calendar month to claim your bonus – which will be awarded as a $450 welcome deposit automatically unless you opt into the 3% deal.
Where to open:
Who can qualify:
Eligibility is super-flexible when it comes to applying for a new HSBC Premier Checking Account. As long as you’re over 18, have a Social Security Number, and have held a US residential address for at least 2 years, you should be able to apply.
When you’ll get it:
You’ll receive the bonus within 8 weeks of completing all qualifying activities.
Monthly fee:
A flat $50 monthly fee can be avoided if you keep your balance above $75,000 or receive third-party direct deposits of $5,000 into your account each month.
7. TD Bank – TD Bank Beyond Checking Account
Overview:
TD Bank offers attractive checking accounts packed full of great features, including overdraft fees that are automatically reimbursed up to twice a year, maintenance fee waivers and superb safety and security encryption. Right now, opening a TD Bank Beyond Checking Account can earn you up to $300 in bonuses, too.
What you’ll get:
- $300 bonus
- Fees waived at ATMs
- Special reimbursements for overdraft and other fees (subject to daily balance requirements)
- Tons of cross-account perks for existing customers
Offer expires:
N/A
How to get it:
You can apply quickly and easily online here using your SSN, government ID and some basic personal info – with no special promo code required. The best way to avoid having to pay monthly maintenance fees is to maintain a minimum daily balance of $2,500 or a combined balance of $25,000 across all your TD accounts. Just keep in mind that not all TD bank accounts are eligible for cross-account perks.
Where to open:
Online here or at any TD Bank branch
Who can qualify:
The offer is only available to residents of CT, DE, DC, FL, ME, MD, MA, NH NJ NY, NC, PA RI SC, VT and VA. Only a soft credit score pull is required.
When you’ll get it:
You’ll receive the bonus within 60 days of meeting the requirements stated.
Monthly fee:
$25 in monthly maintenance unless you set up $500 in monthly direct deposits.
8. Citibank – Citibank Account Package
Overview:
Few banks have such a tried-and-tested reputation as Citibank – meaning Americans can always be sure of a safe, secure and friendly service whatever Citi account they are setting up. Right now (but for a limited time only), new customers can access a $300 bonus when registering for a new Citibank Account Package.
What you’ll get:
- $300 bonus
- No ATM fee for non-Citi ATMs
- Option to earn interest at higher rates
Offer expires:
10/04/21
How to get it:
You’ll need to apply either online here or in-person before the expiry date stated above. From the get-go, you’ll need to deposit $15,000 into your new account within 30 days and maintain a minimum balance of this same amount for at least 60 days consecutively.
Where to open:
Online here or at any Citi branch
Who can qualify:
The account opening criteria is pretty relaxed – you just need to provide a physical address here in the US, Social Security Number details and ID. You must also be over 18.
When you’ll get it:
Meet all the stated requirements and you’ll receive the bonus within 90 days
Monthly fee:
As standard, there’s a $25 monthly service fee – but this can be waived if you maintain a combined average monthly balance of $10,000+ across all your eligible Citi accounts.
9. Citibank – Citi Priority Account Package
Overview:
Citi is the bank every American knows, trusts and loves. If you’re an investment-minded individual, you could sign up for a Citi Priority Account Package and secure even more perks than when opening a standard account – such as access to a robust library of online financial education articles and tools.
What you’ll get:
- $700 standard bonus
- $1,500 boosted bonus available to applicants with higher minimum balances (of $200,000 or more)
- Access to tons of investment resources
- Preferential rates on various Citi services
Offer expires:
10/04/21
How to get it:
Sign up for a new Citi Priority Account Package online here before the date mentioned above and make all stated qualifying deposits within 20 days. All funds must be new to Citibank and you must maintain a minimum balance of equal to or greater than your initial deposit for a 60 day period.
Where to open:
Online here or at any Citi branch
Who can qualify:
The eligibility criteria are largely the same as the standard Citi Account Package, but you will need to be a regular Citi customer and continually maintain a balance of $50,000 or more across all your Citi accounts.
When you’ll get it:
You’ll receive the bonus within 90 days of meeting Citi’s requirements.
Monthly fee:
$30 standard monthly service fee. However, this can be waived if you keep your average monthly balance above $50,000 across all eligible Citi accounts – including investment accounts and retirement accounts.
10. Huntington Bank – Huntington Checking Account 5
Overview:
Huntington offer hugely popular online banking and investment solutions to Americans, as well as a full selection of mortgages, loans and other types of credit. They continually rank highly on account of their amazing customer service and are currently allowing customers to claim a reward of up to $200 when opening checking accounts before October 7, 2021.
What you’ll get:
- Between $150 and $200 bonus
- 5 non-Huntington ATM withdrawals every single month
- Free credit score monitoring for all Huntington Checking Account 5 customers
Offer expires:
10/07/21
How to get it:
Only online applications submitted here will be accepted for this deal, as a unique promo code will be generated for each customer on Huntington’s website at the point of account opening. You’ll need to deposit $1,000 worth of new money to Huntington within 60 days of account opening – and maintain this balance for as long as 90 days.
Where to open:
Who can qualify:
The offer is only valid for personal checking accounts. You must also be a resident of IL, IND, KY, MI, OH, PA or WV.
When you’ll get it:
You’ll receive the bonus within just 14 days of meeting the requirements.
Monthly fee:
A $5 monthly fee can be waived if you maintain $5,000 in balances across all your qualifying Huntington accounts.
Best Bank Account Bonuses by Category
Opening a new bank account online or in-branch will always be a personal decision, and you should think very carefully about your individual needs and expectations when choosing the best bank bonus to suit you. There are literally tons of amazing deals on the US market right now. Here are some of FiLife’s favourite for typical business, checking and savings account customers:
Best Checking Account Bonuses
- HSBC Bank – New HSBC Premier Checking Account
This deal offers unrivalled flexibility in terms of a choice between a $450 welcome deposit or a 3% cash bonus up to $600. Eligibility has pretty much zero limitations, you’ll get your bonus within a timeframe of just 8 weeks and HSBC offers tons of perks at an international level, too.
Best Savings Account Bonuses
- Alliant Credit Union – Ultimate Opportunity Savings Account
Getting your hands on a free $100 bonus just by making a few modest $100 deposits over the course of 12 months is a really sweet deal for a savings account. Most Americans tend to invest higher amounts than this each month anyway, and Alliant’s amazing interest rate of 0.55% APY makes this account option a real no-brainer.
Best Referral Bonuses
- HSBC Bank – Referral Bonus
We haven’t talked so much about referral bonuses in this article, but if you want to earn some extra cash for yourself and a friend, HSBC is currently offering referral bonuses ranging from $50 to $400 depending on which account type you recommend. Refer another American before July 31, 2021, and they’ll get $50 for a Choice Checking, $200 for an Advance Checking and $400 for a Premier Checking account. And at your end, you can potentially receive up to $2,000. Just pay attention to the latest T&Cs, which tend to change pretty regularly.
Best Business Bank Account Bonuses
- Chase – Chase Business Complete Checking Account
The latest $300 bonus that’s up for grabs when opening a Chase Business Complete Checking Account represents really great value. The account itself offers transparent pricing, same-day deposits and plenty of other perks, and having to deposit $2,000 or more within 30 days isn’t too much of a hurdle to overcome for one of the biggest business account bonuses currently on the US market. Just be sure to complete five qualifying transactions and keep your balance above $2,000 for 90 days.
Best Consumer Checking Account Bonuses
- CapitalOne – 360 Checking Account
What we love about CapitalOne’s $150 bonus is that consumers need to deposit just $500 within 75 days in order to claim it – which sets the bar pretty low compared to what most competitors are expecting. If you want to get your hands on a juicy bonus with no frustrating fees or annoying minimum requirements, this is probably the most clear-cut deal available right now. And that $500 can be made up of two separate $250 direct deposits if you prefer.
FAQs – Within How Many Days of Account Opening Can I Get My Bonus and More
1. How Do Bank Account Bonuses Work?
Banks and credit unions across the US are always keen to secure new customers, meaning that sign-up bonuses and special offers are very common indeed. These bonuses can range anywhere from $50 to $1,000 but you might have to jump through a few hoops in order to claim them. In most cases, a bank will require you to do one or more of the following before you can access their juicy bonus:
- Make one or more minimum direct deposits into your new account
- Register for qualifying direct deposits
- Meet certain minimum balance requirements
- Make a certain number of debit card purchases within a set timeframe
- Abide by specific spending or deposit rules within a set number of days of account opening
2. Which Bank Has the Best Sign-Up Bonus?
Getting the most out of your bank bonus means selecting the right deal that best meets your unique needs. This guide has already run through some of the best bank bonuses for different people in different scenarios, but the best option for you will always be dependent on your individual circumstances. Use our comparison table to help you select the best deal.
3. Within How Many Days of Account Opening Can I Get My Bonus?
This will always vary on a bank-to-bank basis – and could range anywhere from just a couple of weeks to a couple of months. You should check your preferred lender’s terms and conditions very carefully before opening an account. You should also watch out for any unexpected changes to eligibility requirements – as well as expiry dates – affecting any special promotions. Always read the fine print and apply in good time.
4. How Can I Get $600 From Chase?
In years gone by, consumers could get $600 worth of bonuses from Chase by opening up a checking account and a savings account at the same time. Opening a new checking account was worth $300 in bonuses, signing up for a new savings account would earn customers an additional $200, and the bank was awarding an extra $100 to anyone who opened up both accounts simultaneously.
Right now, however, Chase customers can only apply for either a $225 referral bonus or the attractive $300 bonus we reviewed earlier. Both deals are very competitive and offer excellent fee waiver options, too, even if they don’t quite add up to $600.
5. Which Banks Have Sign-Up Bonuses Right Now?
Pretty much every bank or credit union on the US market will advertise sign-up bonuses for new customers from time to time. However, it’s not uncommon for bonuses of all kinds, even those with recurring direct deposits, to have an expiry date. At the time of writing, the 10 deals listed in our comparison represent the best value bonuses for American consumers available in July 2021.
That said, you should always check your preferred bank or credit union’s website directly to see what’s available right now, pinpoint any changes and determine the latest eligibility rules.
6. What Should I Watch Out for When Claiming a Bank Bonus?
Perhaps the biggest potential pitfall new account holders can face when claiming a bank bonus is sky-high minimum balance requirements. Some banks will require you to set up a minimum balance in new funds at the point of account opening and maintain this balance for a set time period. Others might ask you to make a qualifying direct deposit into your new account before you can claim a bonus. This is generally fine.
However, if you pick a bank account that requires an unusually high minimum average daily balance to maintain for long periods, you could be at risk of incurring fees or invalidating bonuses if you fall foul of the rules.
We’d recommend going through the small print of any bank bonus with a very fine tooth comb. Just because something sounds like a good deal from the outset doesn’t necessarily mean it is. And with so many different bank bonuses on the market to choose from, it isn’t hard to shop around.
7. How Can I Avoid Monthly Fees?
It’s not uncommon for banks to charge a “monthly maintenance fee” or other monthly fees if your minimum balance falls under a certain amount. You can usually avoid such monthly fees by closely monitoring the fee structure affecting your preferred bank account and making adjustments accordingly.
For example, if your bank offers no monthly fees for the first 12 months, you might be able to close your account before the monthly maintenance fee waiver period is over or upgrade it to a different kind of account with zero monthly fees. Elsewhere, banks might allow you to waive fees if you abide by certain minimum balance restrictions or other limits.
8. Do I Need a Credit Check?
Unlike when applying for a credit card, banks usually only carry out a “soft” check on your credit report at the point of account opening. Rules may differ between account types, though, so always double-check before submitting an application.
9. Are Bank Bonuses Worth It?
Bank bonuses can offer some attractive upfront perks, recurring cashback offers and other great benefits to new account holders – but as with any financial decision, consumers should proceed with caution. It’s important to find a bonus that properly meets your needs.
For most Americans, this will mean selecting a deal that doesn’t punish you with punitive monthly fees or unwanted minimum balance requirements.
10. Best Bank Bonuses – Key Takeaways
If you’re considering signing up for one of the top 10 bank account bonuses we’ve reviewed in this article – or any other special offers you may have found elsewhere – don’t forget to tread very carefully. While some offers might look like an attractive proposition from the outset, monthly fees, minimum balance requirements and other restrictions can quickly water down the value of a good bonus if you’re not careful, which is why it’s important to pay close attention to the fine print. Don’t forget to:
- Compare banks and bonuses alongside each other
This will help you to secure the best bonuses, interest rates, minimum balance requirements and more.
- Make sure you are eligible
Some bank offers only apply to customers in specific states, while credit unions might only allow certain people to become a member. Always double-check before applying.
- Prepare all the necessary information and documents beforehand
Most banks and credit unions will ask you for your ID, Social Security Number and more at the point of account opening – so make sure you have all these to hand before you apply.
For more up-to-date reviews of checking account, savings account and other bank promotions, subscribe to the FiLife newsletter today. Alternatively, feel free to check out our latest blogs for the hottest US financial news.
