With many financial institutions experiencing a decrease in profits, banks are vying for your business. This is good news for you, because instead of just offering standard perks like no fees, free checking, or a free pen when you sign up for an account, some banks are raising the stakes with cold hard cash, giveaways, and great interest-bearing products.
July is a good month for bank promotions from both big and small banks. Banks are giving away a lot of free cash to attract new customers and get them to open up accounts. The banks listed below have some pretty sweet deals that you should take advantage of if you are in the market for a new bank.
Don’t want to miss out? Here are the best bank promotions for the month of July.
Top Bank Account Promotions (July 2015)
1. Chase – Up to $250 Bonus
This offer is made up of two parts: a $150 bonus for Chase Total Checking and a $100 bonus for Chase Savings. Open a new Chase Total Checking account with a minimum of $25 and a qualifying direct deposit made within 60 days. You’ll then receive a $150 bonus within 10 business days. Open a new Chase Savings account and deposit at least $10,000 within 10 business days and maintain a $10,000 balance or more for 90 days from when the deposit was made, you’ll receive a $100 bonus within 10 business days. In order to receive these bonuses, you’ll need to enter in your email here and take the coupon to a local Chase branch. Offer expires on July 14, 2015.
2. Capital One 360 Savings – Up to $500 Bonus ($50 Minimum)
Open your first 360 Savings Account by the promotion expiration date, 07/31/2015 at 11:59 PM EST (if you’ve had a Savings product with Capital One 360 or ING DIRECT before, you won’t be eligible for the bonus). Deposit at least $5,000 or more from an external account in the first 10 days of opening your account. You must then maintain that balance every day for 90 days to qualify for a minimum $50 bonus. If you deposit and maintain a higher balance in the time period, you can earn a higher bonus. The bonus amount depends on the amount you deposit: $10,000+ for a $100 bonus, $20,000+ for a $200 bonus, $30,000+ for a $300 bonus, $40,000+ for a $400 bonus, and $50,000+ for a $500 bonus. Your bonus will be deposited into your account within 10-15 business days after the 90 day period expires. Paid Endorsement.
3. Capital One 360 Checking – Up to $50 Bonus
Open a new Capital One 360 Checking account, then make three debit card payments or Person2Person payments within 45 days. Your $50 bonus will be deposited into your account on day 50.
4. Discover Bank – $50 Bonus
Existing Discover credit card holders who open a new Cashback Checking account will earn a $50 bonus simply by opening the account. Your bonus will be issued to your account within 30 days of funding it. Offer expires on September 15, 2015.
5. U.S. Bank – $100 Bonus
If you enroll in U.S. Bank’s S.T.A.R.T. savings program, you could earn up to $100 in bonuses. You would need to open both a Package Checking account ($50 minimum opening deposit) and a Package Money Market Savings account ($25 minimum opening deposit). Set up recurring transfers from the checking to the money market account, and when you reach $1,000, you’ll get a $50 Rewards Visa card. Keep your balance at $1,000 or more for one year, and you’ll receive another $50 card.
6. Bank of America – $100 Bonus
Open a new qualifying checking account at Bank of America by December 31, 2015 using promo code BAW100N (if you currently have a personal checking account with Bank of America you are not eligible for this offer). Then set up qualifying direct deposits which total at least $2,000 every 30 days from the time you open the account for 90 days. Your bonus will be deposited into your account, usually within 90 days.
7. SunTrust – Up to $150 Bonus
When you open a new checking account at SunTrust using the promo code SUNNYEDC150B ($100 minimum opening deposit required), you can earn a $150 cash bonus. To receive your bonus, make one qualifying direct deposit of at least $1,000 within the first 60 days of opening the account. Once the requirement is met, your bonus will be deposited into your account within 10 weeks. Offer expires July 17, 2015.
8. Salem Five Bank – $100 Visa Gift Card
Open up a checking account with Salem Five Bank using promo code PP2013 and you can receive a $100 Visa reward card by completing any one of the following three requirements: set up direct deposit and complete two deposits of more than $250, make six online bill payments of more than $25, or make 20 debit card transactions of more than $5. The requirement you choose must be met within 60 days of account opening. Once the requirement is met, you’ll receive your reward card with 4-6 weeks.
9. PNC Bank – $300 Bonus
This offer is good for residents of the following states: AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI, and District of Columbia. Open a new Virtual Wallet account online or click on the link to have a coupon emailed to you in order to open an account at a branch and get up to a $300 cash bonus depending upon the type of account you choose. Have at least $5,000 transferred into your account via direct deposit within the first 60 days and make at least one payment via online bill pay. Your bonus will be deposited into your account within the following 60 days. This offer is valid until August 31, 2015.
10. Charles Schwab – $100 Bonus
Open a new, qualified account at Charles Schwab, using the referral code REFERKRCXV, and make a qualifying deposit of $10,000 within 45 days of enrollment, and receive a $100 cash bonus. You must maintain your net deposit for at least one year or the bonus may be charged back to you.
11. Santander Bank – $240 Bonus
Open up a new extra20 checking account with Santander Bank and set up direct deposit. For every month you have at least $1,500 in direct deposits credited to your account, you receive a $10 bonus. For each month you make at least two online bill payments, you receive another $10. That’s as much as a $240 bonus each year. You need to open an extra20 savings account as well – your bonuses are applied there. Fees apply if you don’t have $1,500 in direct deposits in a month ($10).
12. BBVA Compass – $125 in Gift Cards Bonus
Open an NBA Checking account at BBVA Compass Bank and you’ll be eligible to receive up to $125 in gift cards. First, activate the Bill Play game in your online account, make at least three qualifying bill payments of $50 or more within the first 90 days of game activation, and a redemption button will appear in your online account, good for a $100 NBAStore.com e-gift card. Then, activate the Direct Deposit Dash game in your online account, make two direct deposits of at least $300 within 90 days of game activation, and a redemption button will appear in your online account, good for a $15 Amazon e-gift card. Finally, activate the Swipe for Songs game in your online account, make 40 qualifying check card transactions within 30 days of the first check card transaction (this first transaction must be complete within 90 days of game activation), and a redemption button will appear in your online account, good for a $10 iTunes e-gift card.
13. Citizens Bank – $1,000 Bonus for College Savings
Citizens Bank is currently offering a $1,000 bonus for those who sign up for a CollegeSaver savings account, an easy, manageable savings plan that will help your meet your college savings needs. It is an interest bearing account, and if you open it before your child’s twelfth birthday and save the monthly minimum amount every year, you’ll receive a $1,000 bonus when your child turns 18. Opening an account earlier than when your child turns twelve will only increase the savings.
14. BankDirect – AAdvantage Miles
Open a BankDirect Mileage Checking Account and earn American Airlines AAdvantage miles. You’ll receive 1,000 miles just for opening an account, 5,000 miles for initiating direct deposit, 2,000 miles for using BankDirect’s bill pay service for one year, and 1,000 miles for referring a friend. There are other ways to earn miles as well, and some restrictions apply. Be sure to investigate the offer thoroughly for full program details.
When choosing a bank, it’s important to find one that suits your needs – whether that’s favorable interest-bearing accounts, no fees, or free checking. It’s also a big bonus when you can get great perks along with good banking. Be on the lookout for and take advantage of freebies like cash and giveaways, and your banking experience will be all the more pleasurable.
Which bank promotions will you be taking advantage of this month?
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