Tuesday, October 4, 2022

What Banks Give Bonuses For Opening Accounts

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Chase: Up To $225 Bonus

Top Banks That Pay A Bonus To Open A Checking Account

Earn a $225 bonus when you open a new checking account at Chase. You can qualify for $225 when you open a Chase Total Checking® account and set up direct depositin the form of a paycheck, pension or government benefits checkwithin 90 days to receive the bonus, which will be deposited into your account within 15 business days.

The fine print: Chase will claw back its bonus if you close your account within six months of opening it. Another thing to consider is its fees. Theres a $12 monthly service fee on Total Checking. You can avoid this fee by maintaining certain balances or taking other actions. Get more details from Chase.

College students get a sign-up bonus, too. College students who open a new Chase College Checking account* can receive a bonus of $100. To qualify, students have to enroll in paperless statements and complete 10 qualifying transactions within 60 days. As with the checking accounts, Chase will withdraw its bonus if you close the account within six months.

The offer period for both the Chase Total Checking bonus and the College Checking bonus extends to April 20, 2022.

Best For A Large Checking Account Bonus: Citiup To $1500

Citibank’s offer is active until January 4, 2022.

Citibank has a current offer for a bonus worth up to $1,500 for opening and funding a new checking account. Here are the bonus structures, depending on the deposited amount:

  • $15,000 to $49,999: $300 bonus
  • $50,000 to $199,99: $700 bonus
  • $200,000 or more: $1,500 bonus

You must deposit the cash within 20 days and maintain the balance for at least 60 days to receive the bonus.

Its important to note that these accounts are not no-fee accounts. Monthly service fees apply if you dont maintain the required minimum balance or activity requirements. Citi accounts also may charge fees for using non-Citi ATMs, among other charges, but if you can meet those requirements, its nice to walk away at least a couple of hundred dollars richer.

  • Earn up to $1,500 for opening and funding a new checking account.

  • No direct deposit requirement.

  • Must deposit at least $200,000 to earn the top bonus.

  • Accounts have monthly service charges .

% Everyday Interest Rate + $150 Sign Up Bonus

Open an account with EQ Bank before May 16, 2022, and get a $150 sign up bonus.

With the best daily interest rates in Canada* and even better rates for GICs – get it by clicking the button below.

* Rates are subject to change ** Applies to both New and Existing clients who open a new account. ***EQ Bank Review: more details

They range from no-fee accounts to premium packages, and they include savings accounts as well as chequing, to help you find what youre looking for.

You can find our picks in the following Best Bank Promo Comparison for easy reference, with more details included below it. We also give you some questions to consider while youre looking for your next bank account because ultimately, the best promo offer will be for the account that works best for you, regardless of how much money theyre offering you.

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How Many Savings Accounts Can I Have

Just as is the case with checking accounts, you can usually have as many savings accounts as you want. However, youll have many of the same disadvantages that you will with multiple checking accounts. This can include bookkeeping complications and the general confusion that comes with having several of the same type of account. But there is one important issue thats more significant with savings accounts than it is with checking accounts. Because savings accounts normally have higher balances than checking accounts, you could bump up against the FDIC limit.

FDIC insures funds held at banks for a maximum of $250,000 per depositor. If you have that kind savings, youll want to make sure your combined accounts at any single bank dont exceed that amount. If so, you should transfer the excess funds to another bank. Fortunately, you can get an additional $250,000 of FDIC coverage at each bank where you have deposits.

Bmo New Bank Account Promotions

Citizens Bank Promotions: $300, $500 $600 Checking Bonuses (Many States)

BMO is offering up to a $300 cash bonus when you open a new chequing account by January 31, 2022.

To qualify, you must make a deposit, set up a direct deposit, and complete one of three actions:

  • Set up one recurring direct deposit for at least 2 months
  • Make one bill payment of at least $50 through BMO Online Banking or the BMO Mobile App for at least two consecutive months
  • Set up one pre-authorized debit of at least $50 for two consecutive months

Value of promo: $100 to $300

Caveats: A BMO performance plan chequing account comes with a $16.95 monthly fee and for the premium plan, it is $30. These fees are waived if you meet the minimum balance requirement. Read more.

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Citigold Checking Account Up To $1500 Cash Bonus

For a limited time, earn a checking and savings account bonus worth up to $1,500 when you open a qualifying Citigold® Checking Account and complete qualifying activities.

Heres how this bonus opportunity works:

  • Open a Citigold® Checking Account by
  • Within 20 days of account opening, make a qualifying deposit in new-to-Citi funds between your new checking and savings accounts.
  • Maintain a minimum balance equal to or greater than your minimum deposit between your checking and savings accounts for at least 60 consecutive calendar days after the 21st day.

The bonus tiers are as follows:

  • $300: Minimum deposit and minimum balance between $15,000 and $49,999.
  • $700: Minimum deposit and minimum balance between $50,000 and $199,999
  • $1,500: Minimum deposit and minimum balance of $200,000 or greater

Once youve completed the qualifying activities, you should see the bonus deposited in your open, eligible account within 90 calendar days.

This offer is available to new account holders located in all 50 states.

To maintain Citigold® Checking Account eligibility, you must maintain a minimum combined average monthly balance of $200,000 in eligible linked banking, retirement, and investment accounts.

Huntington Bank Huntington 25 Checking $500 Bonus

For a limited time, Huntington Bank has one of the most generous new account opening bonuses available worth $500 when you complete qualifying activities. Heres how it works:

  • Open a Huntington Bank Huntington 25 Checking® account between , and .
  • Make cumulative new money deposits of at least $15,000 within 60 days of account opening.
  • Keep your account open for a minimum of 90 days.

After completing these qualifying activities, you should receive your $500 bonus in your new account within 14 days

Account available to residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin

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Alliant Credit Union Ultimate Opportunity Savings $100 Bonus

What you get: $100 bonus

How you earn it: You must open an Ultimate Opportunity Savings account by Dec. 31, 2021, and deposit at least $100 per month for 12 consecutive months. The balance at the end of the year must be at least $1,200.

How you qualify: You qualify as long as you’re not a current Alliant Credit Union savings account holder and have not closed an Alliant Credit Union savings account within the last 180 days.

When you’ll get it: It’ll take up to four weeks to receive your bonus after completing all the qualifying activities.

Monthly fees: This account doesn’t have any monthly fees as long as you choose eStatements.

Are Bank Bonuses Worth It

$1,000 in Free Money from Opening Checking Accounts | Easy Money Best Bank Bonuses

Scoring a bank bonus is like massively turbocharging the interest you can earn on your cash in the bank. The typical savings account pays less than 0.10% APY, and even the very best high-yield savings accounts in the country are paying far below 1%. In other words, it is really hard to earn much from your money right now.

Earning a cash bonus can change that, by sending your annual percentage return into the mid to high single digits, or even double digits. Take a bonus offer of $300 on a $5,000 balance: thats a 6% return earned in just a month. Or a $700 bonus earned on $50,000: thats 1.8% over just two months, and is more than double what you can earn in the best savings account over a full years time.

Also lucrative are the bonuses that dont require a minimum balance, and instead focus solely on direct deposit. With no requirement for the cash thats been deposited into the account to stay in that account, you can earn a bonus simply for the effort of changing your direct deposit instructions. The offers from Chase and HSBC are both good examples of earning free cash simply for setting up a new direct deposit routing.

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Unify Financial Credit Union $150

Unify Financial Credit Union will give you up to $150 if you open up a qualifying UNIFY Checking Account. Its a free checking account with no minimum balance fees or a direct deposit requirement. When you join, you also get a complimentary membership to the Surfrider Foundation or Friends of Hobbs. You can apply online but only available to residents of Collin County, TX.

The bonus has several tiers:

  • Get $50 just for opening a new checking account
  • Get another $50 when you set up a recurring ACH Direct Deposit of at least $500 each month within 60 days
  • Then, get an additional bonus up to $50 by earning $1 bonus for each debit card transaction that exceeds $5 with your new UNIFY Visa Debit Card within the first 60 days of account opening .

The Best Bank Promo Offers In Canada

Looking for a new bank account should be more than scouting for the best promo offer. Keep in mind that you want a bank account thats going to work for you in the long term, not just the one that gives you the most short-term rewards.

Luckily, Canadas banks have stepped up and you have plenty of accounts to choose from. Whether youre looking for a premium all-in-one package with a monthly fee or a no-fees, no-frills chequing or savings account, theres something for you on this list.

The best promotion for you will depend on what youre specifically looking for in a bank account and who youve banked with in the past. However, our picks for the pinnacle of promo offers for chequing accounts are Tangerine and Scotiabank, with an honourable mention to CIBC. And if you want a savings account with the peak everyday offer on the market, you cant find better than EQ Bank.

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Both new and existing customers switching from a non-NatWest account are eligible, as long as they’ve not had switching cash from NatWest, RBS or Ulster Bank since October 2017.

You’ll need to pay in at lease £1,250 and use mobile banking by 12 May before you can receive the bonus, which will be paid by 9 June.

Another offer that’s open to new and existing customers is by Santander, which pays £140 to switchers.

Similar to First Direct and NatWest, this must be your first switch bonus from Santander, and you can’t switch an account from Santander, Cahoot or Cater Allen.

Aspiration Spend & Save $100 Bonus

Bank Of America $300 Personal Checking &  $2500 Business Checking Bonuses

What you get: $100 bonus.

How you earn it: Open a new Aspiration Spend & Save account with at least $10 and use your Aspiration debit card to make at least $1,000 in purchases within the first 60 days of account opening.

How you qualify: This offer is only available to those who do not already have Aspiration Spend & Save accounts.

When you’ll get it: It can take up to 120 days from the day you complete all the qualifying activities to receive your bank incentive. Note this is longer than many other bank bonuses.

Where to open an account: Aspiration does not have branches, so you must open your account online. However, even brick-and-mortar institutions tend to limit their bank account bonuses to customers who open accounts online — so this shouldn’t deter you.

Monthly fees: The Aspiration Spend & Save account enables you to decide how much, if anything, you would like to pay in monthly fees.

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Peoples United Bank Checking $400

Peoples United Bank has a $400 bonus if you open a checking account with their promo code FALL300. The bonus is based on the type of account you open:

  • Get $300 if you open an Advantage or Advantage Plus Checking account and get qualifying direct deposits totaling more than $2,500 within 60 days of account opening, or,
  • Get $400 if you open a Premier Advantage Checking account and get qualifying direct deposits totaling more than $2,500 within 60 days of account opening.

Available to residents of Massachusetts, Maine, New Hampshire, Connecticut, Vermont, and New York. You must keep the account open for at least six months or you forfeit the bonus.

Why Cant I Find A Bank Promotion Without Direct Deposit Requirements

Usually, you have to dig through a banks website to find bonuses, but we launched BankBonus.com to make it easy to find the best bank bonuses in one place.

If youre struggling to find a promotion that you read about online, its possible that it expired or that the bank pulled it. It happens all the time.

Take some time to search through this site and sign up for our newsletter so you can get alerts when new bonuses drop.

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How Do I Check My Savings Account

Since a savings account is usually a low activity accountfew withdrawals, and even fewer depositsits never been common for depositors to keep written records of their savings account balances. With online banking, the best way to check your account is to do so on your computer or mobile device. This has become common with checking accounts, largely because of the greater number of transactions running through the account. Regularly checking a savings account balance may not be seen as a priority. However, it should never be ignored.

Even if you have very few transactions, you should check your savings account balance on a daily basis. This is necessary if only to check for unauthorized transactions. A thief could gain access to your bank account, and totally ignore your checking account because your savings account has a much larger balance. Since a savings account is usually a much richer target than a checking account, monitoring it on a daily basis is at least as important as staying on top of your checking account balance.

In addition, if your bank limits account withdrawals to electronic transfers into your checking account or an external account, youll need to always be aware of your savings account balance for budgeting purposes. And at a minimum, you should check your savings account balance every time you have a transaction in the account. Youll be looking for a) that the transaction took place, and b) that there werent any errors.

How Bank Bonuses Work

How To Profit $500 With Bank Account Bonuses | Bank Churning

Opening a bank account might seem boring, but its a competitive business. Banks use your deposits to underwrite loans so your savings account balances can earn interest. Having a high account balance lets you qualify for premium bank features like free ATM withdrawals and wire transfers or a dedicated adviser.

As most checking accounts and savings accounts offer similar perks, banking bonuses can make it easier to find the best bank.

Most bank bonuses follow this pattern to offer bonus cash:

  • Open a new account before the promotion deadline
  • Deposit new money shortly after opening your account
  • Maintain an average daily account balance for a specific number of days
  • Receive your bonus cash within ten days of completing the necessary steps

Many bonuses require your new funds to arrive via direct deposit, such as an employer paycheck. But some offers let you transfer funds from an external account.

In addition to meeting the deposit requirements, some checking account bonuses may have you complete a minimum number of debit card purchases during the promotion period.

Also, checking account and savings account bonus earnings are taxable income, just like your monthly interest income. Credit card rewards are not taxable as the IRS treats them as purchase rebates instead. Consider this when determining if the bank bonus is worth it for you.

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Alliant Credit Union Ultimate Opportunity Savings $100

  • Expiration date: 12/31/2022
  • How to earn bonus: Earn $100 when you deposit at least $100 a month for 12 consecutive months after opening the account and have a balance of $1,200 or more at the end of those 12 months.
  • Whos eligible: New Alliant members can earn the bonus. Alliant has broad-based membership eligibility through donations to a nonprofit called Foster Care to Success.
  • Account information: There are no monthly fees or minimum balance fees for the Alliant Ultimate Opportunity Savings account. Alliant offers online and mobile banking and a large ATM network.
  • Monthly maintenance fees: $1, waived if you elect eStatements.

Huntington Bank Huntington 25 Checking: $300 Bonus Offer

Huntington 25 Checking is the banks premier consumer checking account, and, for a limited time, new customers can earn a generous $300 bonus for opening a new account and meeting its eligibility requirements.

The account is interest bearing and charges a $25 fee that can be waived with $25,000 in total relationship balances.

  • Offer expiration: February 7, 2022
  • How much you get: $300
  • How to qualify: Open a new account and make cumulative new money deposits within 60 days from account opening and keep your account open for 90 days
  • How to get the offer: Either open an account online or in-branch
  • When you get it: Your $300 bonus will be deposited in your new account within 14 days of meeting requirements

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