16 Best Bank Promotions, Bonuses and Offers

So, you’re looking for a new bank account.

You’ve got several factors to consider — ATM access, interest rates, monthly account fees, minimum balances, online bill payments and more.

Another factor: sign-up promotions and bonuses. Banks and credit unions frequently run promotions to entice prospective customers to open a new account — and they often come with cash. You have to meet specific criteria, such as making a minimum opening deposit, and generally the account must remain open for a certain amount of time — at least long enough to earn the cash bonus.

Many banks offer such sign-up bonuses, but often, they aren’t advertised. We did some digging to find the best bank promotions currently on offer.

Best Checking and Savings Account Offers of January 2022

Keep an eye on what each promotion requires, as well as any limitations. Recurring direct deposits and maintaining a minimum balance are common requirements in securing bank bonuses. Also pay attention to any monthly fees the account might carry; over time, these could weigh out the actual cash bonus. Otherwise, happy bank bonus shopping!

16 Bank Promotions That Give you Cash

Bank Top Feature Promotion
Aspiration Account No fees $150
Aspiration Plus Cash back on purchases $200
Chase Total Checking Account Fees may be waived $225
TD Bank Convenience Checking Account Good basic checking $150
TD Bank Beyond Checking Account High balance rewarded $300
Chime Referral Bonus No monthly fees $100
Bank of America Advantage Banking Fees can be waived $100
BMO Harris Smart Advantage No fees for paperless $200
BMO Harris Smart Money No overdraft fees $200
BMO Harris Premier Unlimited ATM use $350
HSBC Premier Checking Account No foreign exchange fees $450
Discover Bank Online Savings Account No min. opening balance $150 or $200
Huntington Asterisk-Free Checking Quick cash bonus payout $150
Huntington 5 Checking Interest on checking $200
PNC Virtual Wallet Great ATM access Up to $400
PNC Virtual Wallet Checking Pro Two spend accounts Up to $200

Aspiration Account

Best for Financial Beginners

Key Features

  • No monthly service fee
  • Save and Spend Account
  • 3%-5% cash back on socially conscious

Once you open a new account, Aspiration will send you a debit card. Use it to make at least $1,000 of cumulative transactions within 60 days of account opening. The FDIC-insured account offers up to 1.00% APY on savings accounts and allows fee-free withdrawals at more than 55,000 ATMs. You’ll earn up to 5% cash back when you make debit purchases at socially conscious businesses.

Aspiration Account

Bonus amount

$150

How to get it

Open a new account and make a minimum opening deposit of at least $10.

When you get it

Within 120 calendar days of opening.

More information

Monthly fees are on a “Pay What is Fair” policy.

Expiration

None

More Information About Aspiration Account

The Aspiration Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 5% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup. You can access your paycheck up to two days early and earn up to 1.00% APY on your savings.

Aspiration Plus Account

Best for Socially Conscious Clients

Key Features

  • $7.99 monthly, $71.88 if paid annually
  • Save and Spend Account
  • 10% back/socially conscious purchases

Once you open a new account, Aspiration will send you a debit card. Use it to make at least $1,000 of cumulative transactions within 60 days of account opening. The FDIC-insured account offers up to 1.00% APY on savings accounts and allows fee-free withdrawals at more than 55,000 ATMs. You’ll earn up to 10% cash back when you make debit purchases at socially conscious businesses.

Aspiration Plus Account

Bonus amount

$200

How to get it

Open a new account and make a minimum opening deposit of at least $10.

When you get it

Within 120 calendar days of opening.

More information

$15 monthly fee.

Expiration

None

More Information About Aspiration Plus Account

The Aspiration Plus Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 10% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup and get carbon offsets for your gas purchases with Planet Protection. You can access your paycheck up to two days early and earn up to 5.00% APY on your savings.

Chase Total Checking Account

Best for Basic Checking

Key Features

  • $12 monthly fee
  • Fee waived by meeting conditions
  • Basic checking

The Total Checking $12 monthly fee can be waived if you receive monthly direct deposits totaling $500 or more, keep a daily minimum balance of at least $1,500 in your new checking account, or keep a daily minimum balance across all your Chase accounts of at least $5,000. Deposits via person-to-person payments do not qualify. Access to 16,000 ATMs and more than 4,700 branches.

Chase Total Checking Account

Bonus amount

$225

How to get it

Receive a qualifying direct deposit within 90 days of account opening.

When you get it

Within 15 business days of opening.

More information

$12 monthly fee, which can be waived.

Expiration

Jan. 19, 2022

More Information About Chase Total Checking Account

The Chase Total Checking account gets you access to more than 4,700 branches nationwide, plus 16,000 ATMs. The easy-to-use mobile app is highly rated. While Chase does charge a $12 monthly service fee, you can waive it by earning $500+ in monthly direct deposits, maintaining a daily balance of $1,500+ or having $5,000 across all your Chase accounts at the start of each day.

TD Bank Convenience Checking Account

Best for Financial Beginners

Key Features

  • $15 monthly maintenance fee
  • Good basic personal checking
  • Fee can be waived

This checking option is good for financial beginners to manage. You only need to maintain a minimum balance of $100 to have the monthly maintenance fee waived. And if you are between the ages of 17 and 23, there are no minimum balance requirements and no monthly fees. The Convenience Checking account does not earn interest.

TD Bank Convenience Checking Account

Bonus amount

$150

How to get it

Receive direct deposits of at least $500 within 60 days of account opening.

When you get it

Within 140 days of opening.

More information

Monthly fee waived with $100 minimum balance.

Expiration

None

More Information about TD Bank Convenience Checking

The TD Bank Convenience Checking Account’s monthly maintenance fee is high ($15), but it’s easy enough to avoid with a $100 daily minimum balance. As an account holder, you will receive a contactless debit card with no-touch payments and 24/7 fraud text alerts.

TD Bank Beyond Checking Account

Best for Clients with Big Balances

Key Features

  • $25 monthly maintenance fee
  • Checking account
  • Fees can be waived, guidelines vary

The monthly maintenance fee on this personal checking account is waived with monthly direct deposits of at least $5,000, a minimum daily balance of $2,500 or a combined balance across all your TD Bank checking and savings accounts of $25,000. You won’t face fees for making withdrawals at TD Bank ATMs, and it’ll reimburse non-TD ATM fees if you keep a minimum daily balance of at least $2,500.

TD Bank Beyond Checking Account

Bonus amount

$300

How to get it

Open a new account and receive direct deposits of at least $2,500 within 60 days.

When you get it

Within 140 days of opening.

More information

Monthly fee waived with $5,000 in direct deposits or $2,500 daily balance.

Expiration

None

More Information About TD Bank Beyond Checking

The TD Bank Beyond Checking Account’s monthly maintenance fee is steep at $25, but you have three easy ways to waive it (the $2,500 daily balance might be the easiest). Beyond Checking offers two overdraft fee reimbursements a year and no ATM fees, even for out-of-network ATMs (as long as you’ve got that $2,500 balance). Though the account boasts that it earns interest, the growth is inconsequential at 0.01% APY.

Chime Referral Bonus

Best for Referral Bonus

Key Features

  • Must be current Chime account holder
  • No minimum daily balance
  • Good for first-time banking clients

If you refer a friend and they open a new account and receive a direct deposit of at least $200 in the first 45 days, you will each receive $75. Make sure to use the referral link from your account to get the cash bonus. Chime is great for beginners, offering fee-free overdraft, automatic savings account, early paycheck deposit and 60,000+ fee-free ATMs.

Chime Referral Bonus Account

Bonus amount

$100 per referral, plus $100 to the friend you refer

How to get it

Referred friend receives $200 direct deposit.

When you get it

Within two business days of account opening.

More information

Be sure to use a unique referral link from your own account.

Expiration

None

More Information About Chime Referral Bonus Account

Though not technically a bank, Chime is becoming increasingly popular as an online financial institution for banking customers of all ages. Top features include early access to direct deposit, fee-free overdraft, 60,000+ ATMs, a 0.50% APY for the high-yield savings and plenty of features to automatically grow your savings.

Bank of America Advantage Account

Best for Standard Checking

Key Features

  • Monthly maintenance fees
  • Standard checking plans
  • Fees can be waived

Open your Bank of America checking account online using the promo code DDX100CIS. Qualifying direct deposit must be regular monthly income, such as salary or pension payments. Bank of America Advantage Banking accounts come in three levels: SafeBalance, Plus and Relationship. All three carry Bank of America monthly fees that can be waived by meeting direct deposit and minimum balance requirements.

Bank of America Advantage Account

Bonus amount

$100

How to get it

Receive direct deposits of at least $1,000 within 90 days.

When you get it

Within 60 days of account opening.

More information

Monthly fees can be waived.

Expiration

June 30, 2022

See Details More Information About Bank of America Advantage

Bank of America’s Advantage account is broken into three tiers: SafeBalance Banking, Plus Banking, and Relationship Banking. SafeBalance boasts no overdraft fees or non-sufficient funds fees; Plus offers multiple ways to waive the monthly service fee; and Relationship earns interest (though the percentage is quite low).

BMO Harris Smart Advantage Account

Best for Fee-Free ATM Network

Key Features

  • No monthly fee if you go paperless
  • Standard checking
  • Fee-free transactions at 40,000+ ATMs

Get a $200 bonus for opening a new BMO Harris Smart Advantage account and earning at least $4,000 in qualifying direct deposits within 90 days. The bank has physical branches in Indiana and you have to live in IL, IN, MN, WI, MO, KS, AZ or FL to take advantage of this account, which grants you unlimited fee-free transactions at over 40,000 Allpoint network ATMs in the U.S.

BMO Harris Smart Advantage Account

Bonus amount

$200

How to get it

Receive direct deposits of at least $4,000 within 90 days.

When you get it

Approximately 100 days after opening.

More information

Monthly fees can be waived with paperless statements.

Expiration

Jan. 28, 2022

More Information About BMO Harris Smart Advantage Account

Smart Advantage is BMO Harris’ most popular checking account. It requires no minimum balance, charges no monthly fees when you opt for paperless statements and gets you fee-free access to 40,000+ ATMs nationwide with the Allpoint network.

BMO Harris Smart Money Account

Best for No Minimum Balance

Key Features

  • No monthly maintenance fees if under 25
  • Standard checking
  • No overdraft or NSF fees

Get a $200 bonus for opening a new BMO Harris Smart Money account and earning at least $4,000 in qualifying direct deposits within 90 days. The bank has physical branches in Indiana and you have to live in IL, IN, MN, WI, MO, KS, AZ or FL to take advantage of this account, which grants you unlimited fee-free transactions at over 40,000 Allpoint network ATMs in the U.S.

BMO Harris Smart Money Account

Bonus amount

$200

How to get it

Receive direct deposits of at least $4,000 within 90 days.

When you get it

Approximately 100 days after opening.

More information

There is a monthly fee if you’re over 25.

Expiration

Jan. 28, 2022

More Information About BMO Harris Smart Money Account

Like Smart Advantage, BMO Harris’ Smart Money has no minimum balance required. It’s also noteworthy for having no overdraft or NSF fees. With this account, you will get unlimited fee-free transactions at in-network ATMs (40,000+ nationwide). However, you’ll pay a monthly fee if you’re 25 or older.

BMO Harris Premier Account

Best for High Interest Possibility

Key Features

  • Interest tied to balance
  • High-yield checking
  • Unlimited ATM transactions

Get a $350 bonus for opening a BMO Harris Premier account and earning at least $7,500 in qualifying direct deposits within 90 days. You have to live in IL, IN, MN, WI, MO, KS, AZ or FL to take advantage of this account, including its fee-free ATM access. The more you have in the account, the more interest you earn. Monthly maintenance fee can be waived if certain requirements are met.

BMO Harris Premier Account

Bonus amount

$350

How to get it

Receive direct deposits of at least $7,500 within 90 days.

When you get it

Approximately 100 days after opening.

More information

Monthly maintenance fees can be waived.

Expiration

Jan. 28, 2022

More Information About BMO Harris Premier

The highest bonus at BMO Harris comes from the Premier Account with Relationship Packages that reward you with more perks for banking more with BMO. The account earns interest, and the amount you earn increases with the amount of funds in the account. You also get unlimited access to any ATMs, in-network or not.

Discover Bank Online Savings Account

Best for APY Earnings

Key Features

  • High-yield savings account (0.40% APY)
  • No monthly fees or minimum opening deposit
  • No insufficient funds fees

Discover Bank’s Online Savings Account offers a respectable APY, 8x higher than the national average. You can also pair the account with the Discover Cashback Debit account (one of the best online checking accounts of 2021). However, the deposit amounts to earn the bonus are quite high, making the bonus offer far less achievable for most.

Discover Bank Online Savings Account

Bonus amount

$150 or $200

How to get it

Open account using code BCS122 and deposit at least $15,000 (for $150) or $25,000 (for $200) within 30 days.

When you get it

Within 30 days of meeting bonus criteria

More information

Must be a first-time Discover savings account customer

Expiration

March 15, 2022

More Information About Discover Bank Online Savings Account

The Discover Bank Online Savings Account offers a competitive APY (0.40%) with interest compounded daily instead of monthly. THere’s no monthly fee with Discover, no minimum deposit and no insufficient funds fee. All in all, not a bad offer.

Huntington Asterisk-Free Checking

Best Regional Bonus

Key Features

  • No monthly fees
  • Only available in certain states
  • Quick cash bonus payout

This offer is only available to customers who live in IL, IN, KY, MI, OH, PA or WV). This account does not earn interest.

Huntington Asterisk-Free Checking

Bonus amount

$150

How to get it

Open a new account and make deposits totaling $1,000 within the first 60 days.

When you get it

Within 14 days of meeting bonus criteria.

More information

Account must remain open for at least 90 days.

Expiration

Feb. 7, 2022

More Information About Huntington Asterisk-Free

Huntington’s Asterisk-Free Checking Account doesn’t pay out any interest, but the lack of a monthly maintenance fee does make it appealing for an easy checking account. Key features include mobile banking, the No Overdraft Fee $50 Safety Zone and the 24-Hour Grace Overdraft and Return Fee Relief.

Huntington 5 Checking Account

Best for Quick Bonus Payout

Key Features

  • $5 monthly fee (can be waived)
  • Interest-earning checking
  • Quick cash bonus payout

This offer is only available to customers who live in IL, IN, KY, MI, OH, PA or WV). This account does not earn interest. This account earns interest (currently a 0.02% APY, which is quite low). It also has a monthly maintenance fee of $5, which is waived if you have at least $5,000 across every Huntington bank account.

Huntington 5 Checking Account

Bonus amount

$200

How to get it

Open a new account and make deposits totaling $1,000 within the first 60 days.

When you get it

Within 14 days of meeting bonus criteria.

More information

Account must remain open for at least 90 days.

Expiration

Feb. 7, 2022

More Information About Huntington 5 Checking Account

While the Huntington 5 account does have a monthly $5 fee, you can waive it by having $5,000 across accounts with Huntington. By upgrading to this account, you’ll get a higher bonus and earn 0.02% interest on your balance. Plus, you get five free ATM withdrawals.

HSBC Premier Checking Account

Best for Foreign Transaction Fees

Key Features

  • Monthly maintenance fee
  • Checking can be linked to high-yield savings
  • Unlimited U.S. ATM use

The HSBC Premier checking account is a solid checking account. While it’s billed as fee-free, it does have a monthly maintenance fee, but you can waive it by maintaining at least $75,000 across accounts, getting $5,000+ in monthly direct deposits, having an HSBC loan of $500,000+ or maintaining Jade status. With this account, you can also travel worry-free with no foreign transaction fees.

HSBC Premier Checking Account

Bonus amount

$450

How you get it

Make qualifying direct deposits of $5,000+ a month for three consecutive months.

When you get it

Within eight weeks of completing qualifying activities.

More information

Subject to monthly maintenance fee of $50 unless conditions are met.

Expiration

March 31, 2022

More Information About HSBC Premier Checking Account

The HSBC Premier pays a handsome bonus of $450, but it’s also a lot less attainable for average Americans. The $75K minimum balance across all HSBC accounts and investments, for example, is a hard criterion to meet to waive the monthly fee. Some more attainable accounts include Advance, Choice Checking and Basic Banking, but you’ll lose out on the bonus opportunity.

PNC Virtual Wallet

Best for ATM Power Users

Key Features

  • Geography based
  • No minimum balance to open
  • Digital financial tools

The PNC Virtual Wallet includes three different Spend accounts: the baseline account, Performance Spend and Performance Select. All three require no minimum balance to open and get you access to 18,000 ATMs nationwide. The premium Performance Select account also reimburses fees at out-of-network ATMs.

PNC Virtual Wallet

Bonus amount

Up to $400

How you get it

Qualifying direct deposits must be received within 60 days of account opening.

When you get it

60 to 90 days after meeting bonus conditions.

More information

Monthly service fees ranging from $7 to $25 if conditions aren’t met.

Expiration

Feb. 28, 2022

More Information About PNC Virtual Wallet

PNC bonus offers are based on amounts of qualifying direct deposits, and this offer is good in specific states throughout the country. Your ZIP Code will be used to determine if you are in a participating state.
Earn $50 for making $500+ in direct deposits into the Virtual Wallet account; $200 for receiving $2,000+ in direct deposits into the Virtual Wallet with Performance Spend account; or $400 for receiving $5,000+ in direct deposits into the Virtual Wallet with Performance Select account.
To waive the Virtual Wallet monthly maintenance fee ($7), earn $500+ in monthly direct deposits to the Spend account or maintain a $500+ monthly balance across the Spend + Reserve accounts. If you’re 62 or older, the fee is automatically waived.
This offer is only available to residents of AZ, CA, CO, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NM, OH, PA, SC, TX, WI and WV, as well as Washington, DC.

PNC Virtual Wallet Checking Pro

Best for ATM Power Users

Key Features

  • Geographic based
  • No minimum balance to open
  • No minimum balance to open

The PNC Virtual Wallet Checking Pro account includes two different Spend accounts: the baseline Spend account (checking only) and Spend, Reserve & Growth. Neither requires a minimum balance to open; neither charges a monthly fee; and both get you access to 18,000 ATMs nationwide.

PNC Virtual Wallet Checking Pro

Bonus

$200

How you get it

Qualifying direct deposits of $2,000 must be received within 60 days of account opening.

When you get it

60 to 90 days after meeting bonus conditions.

The fine print

This is a geographic-based offer; must be in a qualifying state.

Expiration

Feb. 28, 2022

More Information About PNC Virtual Wallet Checking Pro

PNC bonus offers are based on amounts of qualifying direct deposits, and this offer is good in specific states throughout the country. Your ZIP Code will be used to determine if you are in a participating state.
Regardless of whether you open the Virtual Wallet Checking Pro account with Spend only (checking account) or with Spend, Reserved & Growth (savings account), you will be eligible for a $200 bonus should you receive $2,000 in direct deposits
Unlike the Virtual Wallet account above offered in other states, this account does not charge a monthly service fee.
This offer is only available to residents of AR, CT, IA, ID, KS, LA, MA, ME, MN, MS, MT, NE, NH, ND, NV, OK, OR, RI, TN, UT, VT, WA and WY.

How to Search for a Checking Account Bonus on Your Own

Instead of listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.

But maybe you’re interested in banking with your local credit union, opening a small business checking account or exploring what investment accounts are available. There are often cash bonuses attached to these accounts too.

Banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.

  • Check the bank website first. Sometimes it’ll advertise its offers with a blaring promo code. This is rare, but it’s worth a quick check — it could save you a ton of time.
  • Reach out to customer service. Let them know you’re shopping for a new account, and you’d like to know if the bank is running any promotions. More often than not, the nice representative will send you a special link.
  • Google the best bank account bonuses. You’ll likely dig up some offers from third-party sites, so make sure the offer:
    • Hasn’t expired.
    • Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. Read some online reviews.
    • Doesn’t require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000.
  • Reach out to your own network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.

Overall, be smart. Don’t let the promise of a cash bonus blind you. Read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties. With the proper due diligence, you can earn a checking account bonus — or any other bank promotion — while also choosing the best bank for you.

Will Opening a Bank Account Hurt Your Credit Score?

If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and therefore have no effect on your credit score, unless you have an outstanding negative balance that the bank turns over to a collection agency.

Sometimes when you go to open a new account, banks will do a soft credit check. However, that won’t affect your credit score.

Timothy Moore covers bank accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.

Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

¹The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of November 1, 2021. No minimum balance required. Must have $0.01 in savings to earn interest.

²The average national savings account interest rate of 0.06% is determined by FDIC as of November 1, 2021 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit https://www.fdic.gov/regulations/resources/rates/ to learn more.




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