Banks make money in all sorts of ways, but one of the main things they want to do is have a lot of cash on hand — so they can loan it out to others, or meet their own legal liquidity requirements. That's why they offer you amazing bank bonus offers!
Because banks need giant piles of cash on hand, they need to offer the rest of us incentives to choose their FDIC-insured bank over someone else's.
Banks compete on their ability to offer personal service to local residents, on the number of their national locations, and on fee levels for basic services like checking and savings. But they also offer cash incentives to use their deposit and checking services! With the economy picking up, and interest rates rising, there seem to be more and more of these on offer.
Here's our list of the best ones!
Best Checking And Savings Promotions
Check out this quick summary, with more details below. Remember, terms and conditions apply to each offer!
Here's the list for personal checking and savings accounts:
Bank | Bonus | Expiration |
|---|---|---|
$3,000 | 4/17/2024 | |
$800 | 3/12/2024 | |
$400 or $250 | 5/3/2024 | |
$325 | 3/31/2024 | |
$300 | 6/30/2024 | |
$300 | 12/31/2024 | |
$200 | 3/8/2024 | |
$100 | 4/17/2024 | |
$200 or $150 | 3/14/2024 | |
$200 | Ongoing |
If you're looking for business promotions and offers, check out our full guide to the Best New Business Bank Account Promotions and Offers.
Note: The banking offers that appear on this site are from companies from which The College Investor receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The College Investor does not include all banking companies or all banking offers available in the marketplace.
Best Bank Bonus Offers Right Now
If you have a lot of cash that you don't mind having in the bank for a few months, these are the best promotions out there right now:
Up To $3,000 With Chase Private Client Checking℠
Chase Private Client Checking℠ is the top of the line Chase offering for customers. You get to experience a banking relationship that beings you more, including a team dedicated to you, no ATM fees worldwide, no Chase fees on incoming or outgoing wire transfers, and more.
And right now, you can get up to a $3,000 bonus when you open an account with qualifying activities.
You can earn $1,000 when you deposit $150,000, or earn $2,000 when you deposit $250,000, or earn $3,000 when you deposit $500,000 or more.
In order to qualify, within 45 days of coupon enrollment, transfer qualifying new money or securities to a combination of eligible checking, savings and/or J.P. Morgan Wealth Management non-retirement accounts (excludes Chase Personal and Business CDs, Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing, J.P. Morgan Personal Advisors Accounts, and J.P. Morgan Wealth Management retirement accounts). Your bonus will be determined on day 45. Maintain your new money for 90 days from coupon enrollment and enjoy your bonus. We'll add it to your account within 40 days.
Read our full Chase Bank review here.
Learn more about Chase Private Client here.
Get up to a $3,000 bonus!
$800 with U.S. Bank Smartly® Checking and Standard Savings
The U.S. 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 send money 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 (must self-disclose), OR
- Have combined monthly direct deposits totaling $1,000 or more, OR
- Average account balance of $1,500 or 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, they have an amazing bonus offer! Earn up to $800 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account online, and complete qualifying activities. Subject to certain terms and limitations. Offer valid through March 12, 2024. Member FDIC.
Earn up to $500 with a new U.S. Bank Smartly® Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999 to earn $300, or $10,000 or more to earn $500.
Earn up to $300 with a new Standard Savings account:
- Make new money deposit(s) totaling $25,000 or more by March 31, 2024
- Maintain $25,000 or more until June 30, 2024
Offer may not be available if you live outside the U.S. Bank footprint or are not an existing client of U.S Bank or State Farm.
Why I Like It: A solid basic checking account at a great major bank.
Learn more about U.S. Bank Smartly® Checking account here.
Earn up to an $800 bonus! At U.S. Bank National Association Member FDIC.
$400 with BMO Relationship Checking
The Relationship Checking Checking is relationship-based checking account that offers a lot of great perks, including unlimited non-BMO ATM transactions, $25 surcharge-fee rebates on non-BMO ATMs, and more.
Plus, right now you can earn a $400 cash bonus when you open a Relationship Checking Account by May 3, 2024 and complete qualifying activities.
To qualify for the $400 cash bonus, you are required to:
- Open a a new Relationship Checking Account by May 3, 2024, and
- Have a cumulative total of at least $7,500 in qualifying direct deposits in the first 90 days
Read our full BMO Bank review here.
Learn more about BMO Relationship Checking Account here. Accounts are subject to approval. BMO Bank N.A. Member FDIC.
Earn a $400 bonus! At BMO Bank, Member FDIC.
$325 with Fifth Third Momentum® Checking
Fifth Third Momentum Checking offers a monthly-fee free checking account with no minimum balance requirement and a ton of great features.
They offer a checking account with no monthly maintenance fees, no minimum balance requirement, early direct deposit, solid ATM access, and a good mobile app.
Plus, right now, you can get a $325 bonus when you open an account with qualifying activities by March 31, 2024! That's awesome!
To qualify, you must complete these steps within 90 days of opening your new checking account online:
- Open a new checking account
- Make qualifying direct deposits totaling $500 or more within 90 days of account opening.
Read our full Fifth Third Bank review here.
Why I Like It: Free checking with a great account bonus!
Learn more about Fifth Third Checking here.
Earn a $325 bonus! At Fifth Third Bank, Member FDIC.
$300 with Axos Rewards Checking
Axos Bank calls themselves America's most experienced digital bank. And their Rewards checking account hits every feature you'd expect from a top notch online bank.
Rewards Checking has no minimum balance requirements, no monthly fees, and no overdraft or insufficient fund fees. Plus, they offer unlimited domestic ATM reimbursements!
Axos Bank does require that you have good banking history to get approved.
What's great about this account is that it's monthly fee-free, but also pays interest. You can earn up to 3.30% APY right now! However, it's tiered, so here's what you need to know:
- Baseline: 0.40% APY when you receive monthly direct deposits totaling $1,500 or more. This is required to unlock the remaining tiers.
- Debit Card Spending or Personal Finance Manager: 0.30% APY when you use your Axos Visa Debit Card for a total of 10 transactions per month (min $3 transactions) or sign up for Personal Finance Manager in Online Banking.
- Managed Portfolios: 1.00% APY when you maintain an average daily balance of $2,500 in an Axos Invest Managed Portfolios Account.
- Self Directed Trading: 1.00% APY when you maintain an average daily balance of $2,500 in an Axos Invest Self Directed Trading Account.
- Loan Payment: 0.60% APY when you used your Rewards Checking account to make your full monthly Axos Bank consumer loan payment (mortgage, auto, and personal loans are eligible).
And right now, use the promo code AXOS300 when you apply for a Rewards Checking account by 6/30/24. Then have qualifying direct deposit(s) to earn up a $300 welcome bonus!
Read our full Axos Bank review here.
Earn a $300 bonus!
Up To $300 With PSECU
PSECU is Pennsylvania's largest credit union. They offer a top-notch free checking account with no monthly maintenance fees and no minimum balance requirements. Their accounts also offer access to over 70,000 surcharge-free ATMs, free checks, and debit card rewards!
And right now, you can get up to a $300 bonus when you open a account and complete qualifying activities.
- You earn $200 when you become a PSECU member using promo code RIGHTNOTE and add a free checking account with debit card. You also need to login to online banking and activate your debit card within 30 days. You also need to establish one or more qualifying payroll direct deposits that together total $500.
- You earn another $100 when you establish one or more qualifying payroll direct deposits that together total $500 per calendar month are maintained for the first 90 days and the total amount deposited is at least $1,500. You must also complete a minimum of 10 Eligible Debit Card Purchases. Eligible Debit Card Purchases are defined as individual purchases of at least $10 for a minimum overall purchase total of at least $100.
Earn up to a $300 bonus!
$250 with BMO Smart Advantage Checking
The Smart Advantage Account is a great basic checking account with $0 monthly maintenance fee (with paperless statements).
This account also gives you access to 40,000 fee-free ATMs! And, if you enroll in paperless statements, the $2 monthly fee for check images are waived.
Plus, right now you can earn a $250 cash bonus when you open a Smart Advantage Account by May 3, 2024 and complete qualifying activities.
To qualify for the $250 cash bonus, you are required to:
- Open a a new Smart Advantage Account by May 3, 2024, and
- Have a total of at least $4,000 in qualifying direct deposits in the first 90 days
Read our full BMO Bank review here.
Learn more about BMO Smart Advantage Account here. Accounts are subject to approval. BMO Bank N.A. Member FDIC.
Earn a $250 bonus! At BMO Bank, Member FDIC.
$200 with Key Smart Checking®
Key Bank offers the Key Smart Checking® Account. This checking account is a free, non-interest-bearing account that has no minimum balance requirement, offers automatic overdraft protection from a linked savings account, paper checks, and more!
They are very mobile friendly, have access to over 40,000 fee-free ATMs.
Plus, right now they are offering a great bonus offer! You can earn a $200 cash bonus when you open a Key Smart Checking® account by March 8, 2024 and complete qualified activities.
To qualify, you must do the following:
- Open a Key Smart Checking® account by March 8, 2024
- Make the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening
Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Accounts must not be closed or restricted during the promotional period.
Learn more about Key Smart Checking® here.
Read our full KeyBank review here.
Earn a $200 bonus!
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 TCI124. You must apply by March 14, 2024, 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 apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code TCI124 when applying. Then, 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 within 30 days of account open date
- $200 Bonus: Deposit a total of at least $25,000 within 30 days of account open date
Remember, deposit must be posted 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 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 03/14/24, 11:59 PM ET. Offer may be modified or withdrawn without notice.
Read our full Discover Bank review here.
Get up to a $200 bonus!
$200 With Upgrade Rewards Checking
Upgrade Rewards Checking is currently offering a $200 bonus when you open a Rewards Checking account with a personal loan, and make three qualifying debit card transactions within the first 60 days.
The Upgrade Rewards Checking account is one of our top picks for free checking because there are no minimum deposits, no monthly maintenance fees, no ATM fees, and more!
Bonus: Right now, you can earn a $200 bonus if you combine the Rewards Checking account with an Upgrade personal loan and make 3 qualifying debit card transactions.
- Just open an Upgrade Personal Loan and Upgrade Rewards Checking Account
- Fund your account and make three debit card transactions within the first 60 days
- $200 bonus will be credited to your account within 60 days of completing the above requirements
Read our full Upgrade review here.
Earn a $200 bonus!
$100 with Chase Secure Banking℠
The Chase Secure Banking℠ is a solid basic checking account option that doesn't do any type of credit or banking score check. It does have a monthly fee, but if you need a solid banking option, it could be worthwhile.
Chase Secure Banking℠ has a $4.95 per month fee.
Bonus: Right now, you can get up to a $100 bonus when you open an account and complete qualifying activities. That's awesome!
Read our full Chase Bank review here.
Earn a $100 bonus!
$100 with Chase College Checking℠
The Chase College Checking℠ account is one of the best checking accounts designed for students. Students between the ages of 17-24 don’t have to worry about maintenance fees. You can have the fee waived for up to fives years as a student. This account comes with a debit card, and you’ll have mobile access.
And right now, you can get $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment! That's awesome!
Chase College Checking℠ has no monthly service fee for up to five years if you're a student between 17 and 24.
Read our full Chase Bank review here.
Earn a $100 bonus!
Other Great Savings Accounts
These accounts don't always have bank bonus offers, but they do have some amazing interest rates!
Check out our lists of:
Things To Remember
Done right, switching banks for bonuses can be a great way to make some extra side cash. But you do need to be careful: look at the terms and conditions and be sure you can avoid monthly fees, account closing fees, and so on. Also, remember that you'll have to pay income tax on this cash, so you might want to set some of it aside for that.
That said, if you pay careful attention to the terms of these offers, you can make much more than you make even by parking your money in a high-interest savings account. You might want to just do this once for a few hundred dollars, but if you invest a little more time, you can make thousands of dollars a year treating it as a regular side hustle.
And who among us doesn't like free money?
These offers change every month, but right now here's the best of the best on offer, divided into offers that require you to begin with large amounts of cash on hand, and offers that let you start with very little money.
Bank Bonus FAQ
Here are some of the most common questions we get about bank bonus offers and bank promotional offers:
What bank has the best promotions?
Some banks are known for having great promotions. Typically Chase Bank is well known for always offering some type of incentive for new customers.
Why do banks offer bonus offers?
Banks are always trying to get new customers, and offering a bonus or promotion is a great marketing practice.
What banks offer deals for switching banks?
We have our full list here where you can see what banks are offering deals for opening a new account.
Do banks give money for opening an account?
Yes! Some banks will give you money when you open a new account.
Can you get a bonus offer if you're not a new customer?
It depends on the bank and offer, and it's rare. However, every now and then a bank will offer a promotion to both new and to existing customers who deposit new money.
Final Thoughts
Overall, there are some great bank bonus offers out there right now. I'd advise you to decide what kind of bonus hustler you are: do you want to do this once while you're switching to a new account permanently? Or do you need a complex calendar to keep track of your multiple bonus accounts?
Be careful, but also, take advantage of free money if you're sure you can follow the rules! If this is all too much, check out our list of the best online banks and just park your cash there!
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared toward anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications, including the New York Times, Wall Street Journal, Washington Post, ABC, NBC, Today, and more. He is also a regular contributor to Forbes.
Editor: Clint Proctor Reviewed by: Richelle Hawley
