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 |
|---|---|---|
$450 | 1/5/2022 | |
$300 or $150 | Ongoing | |
$225 or $100 | 1/19/2022 | |
$200 or $150 | 12/15/2021 | |
$100 or $150 | Ongoing |
Here are the offers for business checking accounts:
Bank | Bonus | Expiration |
|---|---|---|
$300 | 1/20/2022 |
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:
Up to $450 with HSBC Premier Checking
You can get up to $450 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 January 5, 2022, and set up Qualifying Direct Deposits into your new HSBC Premier checking account.
To qualify, you must make recurring monthly Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
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 >>
Earn up to a $450 bonus!
$300 with TD Bank Beyond Checking
TD Bank is America's Most Convenient Bank, and right now they are offering a solid bonus when you open a TD Beyond Checking account online.
You can earn a $300 bonus when you open a TD Beyond Checking Account and complete qualifying activities.
This is a great checking account, and it's pretty simple to avoid monthly maintenance fees. There are three ways to waive the monthly maintenance fee:
- Receive monthly direct deposits of $5,000 or more per statement cycle
- Maintain a minimum daily balance of $2,500
- Maintain a combined balance of $25,000 across eligible TD accounts.
To qualify for the offer, new customers must apply online for a TD Beyond Checking account and can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. You must be a U.S. resident and apply for the offer online.
Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
Read our full TD Bank review here.
Earn a $300 bonus!
$225 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 $225 bonus when you open a new 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.
Earn a $225 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 or by phone using the code TCI21. You must apply by December 15, 2021, fund the account within 30 days of opening it, and complete the qualifying activities within 30 days of opening.
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: 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 12/15/21, 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!
$150 with TD Bank Convenience Checking℠
TD Bank is America's Most Convenient Bank, and right now they are offering a solid bonus when you open a TD Convenience Checking℠ account online.
You can earn a $150 bonus when you open a TD Convenience Checking℠ account and complete qualifying activities.
This is a great checking account, and it's pretty simple to avoid monthly maintenance fees. All you have to do is keep a $100 average daily balance to avoid the $15 per month maintenance fee. Plus, if you’re a student or young adult, it’s even easier! If you’re between 17 and 23, you’ll have no minimum balance requirement or monthly maintenance fee!
You must be a U.S. resident and 18+ to apply for the offer online. If you're under 18, please visit a TD Bank store near you.
To qualify for the offer, new customers must apply online for a TD Convenience Checking℠ account and can earn a $150 cash bonus after receiving direct deposits of $500 or more within 60 days. You must be a U.S. resident and apply for the offer online.
Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
Read our full TD Bank review here.
Earn a $150 bonus!
Up To $150 with Aspiration
The Spend & Save account from Aspiration is an eco-friendly banking option that has a ton of features without a ton of cost.
And right now, you can get a $100 or $150 bonus when you open an account and complete qualifying activities - which includes spending at least $1,000 on your debit card within the first 60 days.
You can get a $100 bonus for customers who open a standard Aspiration Spend & Save Account. You can get a $150 bonus if you enroll into Aspiration Plus either during account sign up, or no later than 60 days from account opening, and continue to be enrolled in Aspiration Plus through the date of credit.
Here's the qualifying activities:
- Open and fund an Aspiration Spend & Save Account or Aspiration Plus Account with a deposit of $10 or more
- Use your Aspiration debit card to make at least $1,000 worth of cumulative transactions within the first 60 calendar days from account opening. $1,000 transaction minimum refers to net purchases (purchases minus any credits or returns).
Read our full Aspiration banking review here.
Earn up to a $150 bonus!
$100 with Chase Secure Banking℠
The Chase Secure Banking℠ is a solid basic checking account option. It does have a monthly fee, but the minimum requirements to waive it are super easy to meet - check it out.
And right now, you can get up to a $100 bonus when you open an account and complete qualifying activities That's awesome!
Chase Secure Banking℠ has a $4.95 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.
Earn a $100 bonus!
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.
$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. This offer is for new Chase business checking customers with qualifying activities. Customers must deposit a total of $2,000 or more in new money within 30 days of account opening and maintain a $2,000 balance for 60 days. Customers must also complete 5 qualifying transactions within 90 days of opening account. Qualifying transactions include debit card purchases, Chase QuickAccept℠ Deposits, Chase QuickDeposit℠, ACH (Credits), wires (Credit and Debits).
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.
Chase Business Complete Banking℠ | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $15* (waived when requirements met) |
Earns Interest | No |
ATM Access | 16,000 ATMs nationwide |
Availability | 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 |
Promotions | $300 |
Get a $300 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?
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!
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 towards 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, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.
