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:
Here are the offers for business checking accounts:
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.
Personal 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:
$500 With HSBC Premier Checking
You can get up to $500 welcome deposit when you open a new HSBC Premier checking account and complete the following qualifying activities.
You must open your new HSBC Premier checking account by February 15, 2023, and complete qualifying activities.
To qualify, you must:
- Maintain balances of $75,000 in combined U.S. consumer and qualifying commercial U.S. Dollar deposit and investment accounts OR
- Receive monthly recurring direct deposits totaling at least $10,000 from a third party to an HSBC Premier checking account(s); OR
- Have an HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000, not an aggregate of multiple mortgages. Home Equity products are not included.
Please Note: The minimum monthly direct deposit requirement for the $500 Welcome Deposit Offer is different from the Premier Relationship minimum monthly direct deposit requirement.
Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
You will automatically receive that month’s bonus into your HSBC Premier checking account approximately 8 weeks after completing the qualifying activities.
Open an HSBC Premier Checking Account with Welcome Bonus here >>
Get a $500 bonus offer!
$300 With U.S. Bank Smartly™ Checking
The Bank Smartly™ Checking account is a solid basic checking account with all the features you need in a bank.
This account includes a U.S. Bank Visa Debit Card, mobile and online banking, mobile check deposit, online bill pay, and more! You also get access to fast payments with Zelle, and access to U.S. Bank Smart Rewards™ to reap additional benefits.
U.S. Bank Smartly™ Checking has a $6.95 per month maintenance fee that’s easily waived if you simply do ONE of the following:
- Are age 24 and under, 65 and over, or a member of the military, OR
- Have combined monthly direct deposits totaling $1,000 or more, OR
- Average account balance of $1,500 ore more, OR
- Hold an eligible U.S. Bank credit card, OR
- Qualify for one of the four Smart Rewards™ tiers (Primary, Plus, Premium, or Pinnacle).
And right now, you can earn $300 when you open a new eligible U.S. Bank Smartly™ Checking account and complete qualifying activities. Offer valid through December 19, 2022 and is subject to certain terms and limitations. Member FDIC.
To qualify, you must complete these steps within 60 days of opening your new U.S. Bank Smartly™ Checking account online:
- Enroll in online banking or the U.S. Bank Mobile App
- Complete two or more direct deposits of $5,000 within 60 days
Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible.
Read our full U.S. Bank review here.
Why I Like It: A solid basic checking account at a great major bank.
Learn more about U.S. Bank Smartly™ Checking account here.
Get a $300 bonus offer! At U.S. Bank National Association Member FDIC.
$200 with Chase Total Checking®
The Chase Total Checking® isn’t truly free unless you meet the minimum monthly requirements to make it so, but we list it as our favorite checking account because it’s available nationwide online, has branches nearly everywhere, and is one of the most robust banking products out there currently. Plus, the minimum requirements are super easy to meet – check it out.
And right now, you can get up to a $200 bonus when you open a account and setup direct deposit! That’s awesome!
Chase Total Checking® has a $12 per month fee that’s easily waived if you simply do ONE of the following:
- Keep a minimum daily balance of $1,500 or more in your account
- Have monthly direct deposits totaling $500 or more into your account
- Keep an average daily balance of $5,000 across qualifying Chase accounts
Read our full Chase Bank review here.
Up To $200 with Discover Online Savings
Discover Online Savings is consistently one of our top picks for best online savings account due to their great rates and no monthly fees or minimums.
And right now, you can get a bonus of up to $200 when you apply for your first Discover Online Savings Account, online, by phone, or via the Discover App using the code TCI922. You must apply by December 15, 2022, fund the account within 30 days of opening it, and complete the qualifying activities within 30 days of opening. See advertiser website for full details.
To qualify, you must do the following to earn one of the bonus offers:
- $150 Bonus: Deposit into your account a total of at least $15,000
- $200 Bonus: Deposit a total of at least $25,000
Remember, deposit must be posted within 30 days of account open date. Maximum bonus eligibility is $200.
What to Know: To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code TCI922 when applying. 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. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice.
Read our full Discover Bank review here.
$200 With BMO Harris Smart AdvantageTM Account
The Smart AdvantageTM 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 $2 monthly fee for check images are waived.
Plus, right now you can earn a $200 cash bonus when you open a Smart AdvantageTM Account by January 6, 2023 and complete qualifying activities.
To qualify for the $200 cash bonus, you are required to:
- Open a a new Smart AdvantageTM Account by January 6, 2023, and
- Have a total of at least $4,000 in qualifying direct deposits in the first 90 days
Read our full BMO Harris Bank review here.
Learn more about BMO Harris Smart AdvantageTM Account here. Accounts are subject to approval. BMO Harris Bank N.A. Member FDIC.
Earn up to a $200 cash bonus! Conditions Apply.
$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.
$150 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.
Bonus Offer: Use the promo code HOLIDAY when you apply for a Rewards Checking account by 12/31/22. Then have qualifying direct deposit(s) to earn up a $150 welcome bonus!
Read our full Axos Bank review here.
Why I Like It: A great free checking account with the ability to earn a high APY.
Learn more about Axos Rewards Checking here.
Free Amazon Prime With CIT Bank ($139 Value)
CIT Bank is currently offering a great promotion where you can get one year free of Amazon Prime (which is a $139 value), when you open a CIT Bank Money Market Account and complete qualifying activities.
The CIT Bank Money Market Account is consistently one of our top picks because it offers an attractive 1.55%
APY, and it only takes $100 to open!
Bonus: Right now, you can earn 1 free year of Amazon Prime (open to new and existing customers) when you open and fund a CIT Bank Money Market account.
- Just open a Money Market account using the promo code AMZN22.
- Fund your account with at least $15,000 within 15 days and keep a minimum balance of at least $15,000 for 60 days following the 15-day funding period.
- Within 30 days following the end of the funding period, if you’ve fulfilled the requirements, CIT Bank will send you an email with your Prime membership code.
Read our full CIT Bank review here.
Earn 1-Year Free Of Amazon Prime
$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.
$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.
$100 Offer With Bank of America Advantage Plus Banking®
Bank of America Advantage Plus Banking® account is listed as a top account because it’s available nationwide online, has thousands of locations, and offers some solid options including ways to waive the monthly maintenance fee. Plus, the minimum requirements are easy to meet – check it out.
And right now you can get a $100 bonus offer when you open an account online. See offer page for more details. That’s awesome! Offer expires June 30, 2023.
Bank of America Advantage Plus Banking® has a $12 per month maintenance fee that may be waived when enrolled in Preferred Rewards, or have at least one qualifying direct deposit of $250 or more, or maintain a minimum daily balance of at least $1,500 each statement cycle.
Read our full Bank of America review here.
Why I Like It: A great account opening bonus, with one of the largest, most well known banks in the United States.
Learn more about Bank of America Advantage Plus Banking® here.
Get a $100 bonus offer! See offer page for details. Bank of America, N.A. Member FDIC.
$100 Offer With Bank of America Advantage SafeBalance Banking®
The Bank of America Advantage SafeBalance Banking® account is a great account for college students because there is no monthly maintenance fee for students under 25 who are enrolled in school or an educational or vocational program.
This account is great because it helps build good banking habits, while also not charging any overdraft fees.
Get a $100 bonus offer (online only). Start by opening a new Bank of America checking account. See offer page for details. That’s awesome! Offer expires June 30, 2023.
Bank of America Advantage SafeBalance Banking® has a $4.95 monthly maintenance fee that may be waived for Students under 25 or enrolled in Preferred Rewards.
Read our full Bank of America review here.
Why I Like It: A great account opening bonus offer for college students at a full-service bank.
Learn more about Bank of America Advantage SafeBalance Banking® here.
Get a $100 bonus offer! See offer page for details. Bank of America, N.A. Member FDIC.
$50 With Juno
Juno is one of the first crypto-focused checking accounts – where you can even receive your paycheck in crypto (and transfer it to the wallet of your choice).
Beyond the crypto aspect, it offers a solid free basic checking account that pays interest – and you can currently earn up to 5.00% APY on certain balances.
Right now, you can get a $50 bonus offer when you open a new account and complete your first direct deposit of $250 or more!
Read our full Juno review here.
Why I Like It: A solid free checking account with crypto-integration.
Learn more about Juno here.
Business Banking Bonus Offers Right Now
The offers below are for business banking products. They are typically a bit higher than personal bonus banking offers given the nature of business banking.
Up To $400 With U.S. Bank Silver Business Checking
The U.S. Bank Silver Business Checking account is is a solid basic business checking account with all the features you need in a bank.
This account is designed for business with limited transaction activity, and has a $0 monthly maintenance fee. This account is consistently on our list of the best business checking accounts.
This account includes a U.S. Bank Visa Debit Card, mobile and online banking, mobile check deposit, online bill pay, and more! It also includes 125 free transactions per month with a $0.50 fee for each additional transaction.
And right now, you can earn up to $400 when you open a new eligible U.S. Bank business checking account with promo code AF49ZCB and complete qualifying activities. Offer valid through January 9, 2023 and is subject to certain terms and limitations. Member FDIC.
To qualify, you must complete these steps within 60 days of opening your new business checking account online:
- Enroll in online banking or the U.S. Bank Mobile App
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days
- Make five qualifying transactions into your new business checking account.
Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible.
Read our full U.S. Bank review here.
Learn more about U.S. Bank Silver Business Checking account here.
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AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY |
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Get up to a $400 bonus offer! At U.S. Bank N.A. Member FDIC.
Up To $400 With U.S. Bank Gold Business Checking
The U.S. Bank Gold Business Checking account is the next level up in business checking at U.S. Bank, and is designed for businesses with robust transaction amounts.
This account includes a U.S. Bank Visa Debit Card, mobile and online banking, mobile check deposit, online bill pay, and more! It also includes up to 300 free transactions per month, 100 free cash deposits per month, and more.
U.S. Bank Gold Business Checking has a $20 per month maintenance fee that’s easily waived if you simply do ONE of the following:
- Have a U.S. bank Payment Solutions Merchant Account
- $10,000 average collected checking or $25,000 average collected checking balance on interest-bearing option
- $20,000 in combined average collected deposit balance or $50,000 in combined average collected deposit balance on interest-bearing option
- $50,000 combined average collected business deposits and outstanding business credit balances
- $75,000 in combined business deposit and outstanding business credit
And right now, you can earn up to $400 when you open a new eligible U.S. Bank business checking account with promo code AF49ZCB and complete qualifying activities. Offer valid through January 9, 2023 and is subject to certain terms and limitations. Member FDIC.
To qualify, you must complete these steps within 60 days of opening your new business checking account online:
- Enroll in online banking or the U.S. Bank Mobile App
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days
- Make five qualifying transactions into your new business checking account.
Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible.
Read our full U.S. Bank review here.
Learn more about U.S. Bank Gold Business Checking account here.
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$20 (waived when requirements met) |
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AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY |
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Get up to a $400 bonus offer! At U.S. Bank N.A. Member FDIC.
Up To $400 With U.S. Bank Platinum Business Checking
The U.S. Bank Platinum Business Checking account is a premium business checking account that earns you top-tier perks if you maintain a strong banking relationship.
This account includes a U.S. Bank Visa Debit Card, mobile and online banking, mobile check deposit, online bill pay, and more! You also earn interest and get up to 500 free transactions per month.
U.S. Bank Platinum Business Checking has a $30 per month maintenance fee that’s easily waived if you simply do ONE of the following:
- $25,000 average collected checking balance
- $75,000 combined average collected business deposits and outstanding business credit balances.
And right now, you can earn up to $400 when you open a new eligible U.S. Bank business checking account with promo code AF49ZCB and complete qualifying activities. Offer valid through January 9, 2023 and is subject to certain terms and limitations. Member FDIC.
To qualify, you must complete these steps within 60 days of opening your new business checking account online:
- Enroll in online banking or the U.S. Bank Mobile App
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days
- Make five qualifying transactions into your new business checking account.
Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible.
Read our full U.S. Bank review here.
Learn more about U.S. Bank Platinum Business Checking account here.
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$30 (waived when requirements met) |
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AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY |
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Get up to a $400 bonus offer! At U.S. Bank N.A. Member FDIC.
$300 with Chase Business Complete Banking℠
The Chase Business Complete Banking℠ is one of the more popular business checking account options because Chase has a huge number of branches and great service. It isn’t truly free unless you meet the minimum monthly requirements to make it so, but we list it as a top business checking account because it’s available nationwide, has branches nearly everywhere, and is one of the most robust banking products out there currently. Plus, the minimum requirements are super easy to meet – check it out.
Chase Business Complete Banking℠ has a $15 per month fee that’s easily waived if you simply do the following in the month:
- Keep a minimum daily balance of $2,000 or more in your account
- Receive $2,000 in deposits from Quick Accepts transactions or other eligible merchant services
- Chase Ink Business credit card purchases of at least $2,000
- Link a Chase Private Client Checking account
- Provide a valid, qualifying proof of military status (active or veteran)
Bonus Offer: Right now, you can earn $300 when you open a new Chase Business Complete Checking℠ account. For new Chase business checking customers with qualifying activities.
Read our full Chase Bank Review here.
Why I Like It: A great account opening bonus, with one of the largest, most well known banks in the United States.
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$15 (waived when requirements met) |
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AL, AZ, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, NC, NE, NH, NJ, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV |
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Earn a $300 bonus offer!
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?
You should also read in depth about certain bank bonus offers:
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!
