Source: The College Investor
We've found some of the best bank bonus and promotional offers available right now.
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 | 1/22/2025 | |
$300 | 12/31/2025 | |
$300 | 1/13/2025 | |
$300 | 12/13/2024 | |
$300 | 2/3/2025 | |
$300 | 12/31/2024 | |
$200 | 1/6/2025 | |
$200 | Ongoing | |
$100 | 1/22/2025 | |
$10 per $5,000 | 12/6/2024 |
If you're looking for business promotions and offers, check out our full guide to the Best New Business Bank Account Promotions and Offers.
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!
$300 with Fifth Third Checking
Fifth Third Bank offers the Fifth Third Momentum® Checking account. This checking account has no monthly maintenance fees, no minimum balance requirement, and access to over 40,000 fee-free ATMs.
Plus, right now they are offering a great bonus offer! You can earn a $300 cash bonus when you open an eligible Fifth Third checking account by December 31, 2024 and complete qualified activities.
To qualify, you must do the following:
- Open a new checking account by December 31, 2024.
- Make direct deposits totaling $2,000 or more within 90 days of account opening.
Your $300 cash bonus will be deposited into your account within 10 days of meeting requirements.
Read our full Fifth Third Bank review here.
Earn a $300 bonus!
$300 With Live Oak Bank Personal Savings
Live Oak Bank is an FDIC-insured bank that is on a mission to be America's small business bank. They offer a great personal savings account. You can open an account online in minutes, and they are designed to make opening an account simple and easy!
The high yield savings account has a 4.30% APY, and you only need a balance of $0.01 to start earning!
And right now, you can get up to a $300 bonus when you open an account and complete qualifying activities.
To earn you $300 bonus for personal savings, you must do the following:
- Open an account between 11/12/2024 and 1/13/2025
- Deposit at least $20,000 and fully fund by January 13, 2025
- Funding must come from an external account
- Maintain a balance of $20,000 or more for 60 consecutive days
Read our full Live Oak Bank review here.
Earn a $300 bonus!
$300 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 $300 cash bonus when you open a Key Smart Checking® account by December 13, 2024 and complete qualified activities.
To qualify, you must do the following:
- Open a Key Smart Checking® account by December 13, 2024
- Make the minimum opening deposit of $10, plus one eligible direct deposit of at least $1,000 within the first 60 days of account opening
Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Accounts must not be closed at the time of gift payment.
Learn more about Key Smart Checking® here.
Read our full KeyBank review here.
Earn a $300 bonus!
Earn A $300 Cash Bonus* with BMO Smart Advantage Checking
The Smart Advantage Checking 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 nationwide! And, if you enroll in paperless statements, the $3 monthly fee for check images are waived.
Right now, earn a $300 cash bonus when you open a new Smart Advantage checking account and complete qualifying activities between 11/1/24 and 2/3/25. To qualify for the bonus, you need to have $4,000 in direct deposits within 90 days of opening.*
Read our full BMO review here.
Learn more about BMO Smart Advantage Account here.
* Conditions Apply. Accounts are subject to approval. Available in the U.S. BMO Bank N.A. Member FDIC
Earn a $300 cash bonus! At BMO Bank N.A. Member FDIC
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!
$200 With Barclays Bank
Barclays Bank has a tiered savings account that's highly comparable to other high yield online savings accounts.
Unlike others on this list, there are no monthly maintenance fees on this account with Barclays. They are about as traditional a bank as you get.
Right now you can earn up to 4.80% APY, with minimum balance requirements.
The tiers are:
Balance | APY |
|---|---|
$0 to <$250,000 | 4.50% |
$250,000 or more | 4.80% |
Bonus Offer: Right now, Barclays is offering a $200 bonus to new bank customers who open a Tiered Savings account and deposit at least $25,000 within the first 30 days. You'll need to maintain at least $25,000 for the next 120 days, and the $200 bonus will be added directly to the account. Terms apply.
Read our full Barclay's Bank review here.
Earn 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. $0 Monthly Service Fee for students 17 to 24 years old at account opening, enrolled in college or a vocational, technical or trade school, up to the graduation date provided at account opening (five years maximum) or $12 Monthly Service Fee.
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!
$10 Per $5,000 with Raisin
Raisin connects savers with partner banks offering competitive interest rates on high-yield savings accounts, money market accounts, and CDs. While the national average for savings account interest rates is just 0.45%, Raisin’s partner banks often exceed 4.45% annual percentage yield (APY).
Raisin is offering a $10 bonus for every $5,000 deposited with the code CYBER by December 6, 2024, and maintained through March 6, 2025. See site for important details.
Read our full Raisin review here.
Earn a bonus of $10 per every $5,000 you deposit!
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.
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