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 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.
January is a good month for bank promotions from both big and small banks. Banks are giving away a lot of bonuses 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 January.
Top Bank Account Promotions (January 2016)
1. TD Bank Premier CheckingSM – $200 Cash Bonus
Apply online for a new TD Bank Premier account and you’ll get a $200 cash bonus once you receive direct deposits of more than $2,500 within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. The Premier checking account typically includes a $25 monthly maintenance fee, but it’s waived if you keep a daily balance of at least $2,500. This offer is available to residents of the following states: CT, DE, DC, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA.
2. TD Bank Convenience CheckingSM – $100 Cash Bonus
As an alternative to the TD Bank Premier Checking offer above, you can apply online for a new TD Bank Convenience account, which has a much lower minimum balance requirement. You’ll get a $100 cash bonus once you receive direct deposits of more than $500 within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. The Premier checking account typically includes a $15 monthly maintenance fee, but it’s waived if you keep a daily balance of at least $100. This offer is available to residents of the following states: CT, DE, DC, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA.
3. Chase Total Checking® + Chase SavingsSM – Up to $350 Bonus
This offer is made up of two parts: a $200 bonus for Chase Total Checking and a $150 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 $200 bonus within 10 business days. Open a new Chase SavingsSM 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 $150 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. This offer expires on April 16, 2017.
4. Chase Premier Plus CheckingSM – $300 Bonus
There is a separate bonus offer of $300 for Chase Premier Plus CheckingSM, which is a step up from the Chase Total Checking account mentioned above. The Premier Plus account has a monthly service fee of $25, but it is waived if you either keep an average daily balance of at least $15,000 between all of your Chase accounts (checking, savings, and other balances), or you set up automatic payments to your qualifying Chase mortgage.
To qualify for the bonus, open a new Chase Premier Plus CheckingSM account with a deposit of at least $25, and have a direct deposit (electronic transfer for paycheck, pension or government benefits) made to the account. (You can either apply online using the link above, or enter your email on the linked page to receive the coupon to take to your local Chase branch.) Once these steps are taken, you should receive the bonus in your account within 10 business days. This offer also expires on April 16, 2017.
5. Citibank – $300 Cash Bonus
Open a new qualifying checking account under the Citibank Account Package on or before January 12, 2017. Then complete the following within 45 days of account opening: Make at least 1 qualifying direct deposit or at least 1 qualifying purchase with your Citibank Debit Card (minimum $250). Then make an eligible deposit of at least $15,000 into the account and maintain a minimum balance of $15,000 for 30 consecutive days following the date when you made the initial deposit. Monthly service fees may apply but can be waived when certain requirements are met. You can also visit a branch to open an account or do so via phone by calling 1-866-535-2012. Your bonus should be deposited into your account within 90 days of meeting the requirements.
6. Key Bank – $300 Cash Bonus
This offer is good for folks living in the following states: AK, CO, CT, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, and WA. The requirements for securing this offer are rather simple. Just open a qualifying Key Bank checking account by January 13, 2017. You’ll need to use promo code EDGT1216. Then just make 1 qualifying direct deposit to your account (at least $500) within 60 days of opening the account. Your bonus should be deposited into your account within 90 days of meeting these requirements. You can also have a code sent to you via email if you want to obtain this offer later as long as you do so before the deadline.
7. Suntrust Bank – Up to $300 Cash Bonus
This offer is good for people living in the following states: AL, AR, GA, FL, MD, MS, NC, SC, TN, VA, D.C., and WV. The requirements are the same for this offer, the amount of the bonus depends upon which new Suntrust checking account you choose. An Essential Checking Account gets you $100, a Select Checking Account nets you $200, and a Signature Advantage Account earns you $300. Once you open your chosen account, deposit $100 or more within 2 weeks of account opening and make $500 or more in qualifying direct deposits within 2 months of opening the account. You must also make 10 debit card purchases or more within the same time frame. Use promo code Q416CHKNG123OL. The deadline for this offer is January 9, 2017. You may also download a coupon to open the account in person at a branch.
8. CIT Bank – Up to $200 Cash Bonus
Open a new High Yield Savings Account at CIT Bank by January 31, 2017 and make an initial deposit of $25,000 or more. Then maintain an average monthly balance of $25,000 for 3 monthly statement cycles. That will get you a $95 bonus. Deposit $100,000 and maintain that for 3 monthly statement cycles and you’ll receive a $200 bonus. Your bonus should be credited to your account within 1 month after the end of the 3rd monthly statement cycle.
9. Santander Bank – $150 Bonus
Open a new eligible checking account at Santander Bank on or before January 16, 2017. Then set up a qualifying direct deposit within 90 days of opening the account. Make sure the account remains open for a minimum of 90 days. Your bonus should be deposited into your account within 30 days of meeting the requirements. There is also the option of getting a coupon emailed to you which you can bring to a branch near you. A minimum opening deposit of at least $25 is required, which varies depending upon the type of account you choose.
10. M&T Bank – $150 Cash Bonus
This offer is good for people living in the following states: CT, DC, DE, FL, MA, MD, NJ, NY, OR, PA, VA, WV. When you open a new personal checking account at M&T Bank on or before February 28, 2017 and then initiate a qualifying direct deposit, you’ll receive a $150 cash bonus, credited to your account normally within 90 days of meeting the requirements. Your account must remain in good standing during that time. You can also have a coupon emailed to you to be redeemed at a local branch to qualify for the promotion.
11. Discover Cashback Checking – Up to $120 Bonus
Existing Discover credit card holders who open a new Cashback Checking account can earn as much as $120 each year. Open the account with at least $25, then you earn ten cents in rewards every time you write a check, pay a bill online, or make a debit card purchase. You receive this reward on up to 100 transactions per month.
12. BMO Harris – $100 Cash Bonus
Bank At Work and Group Banking Services customers can receive a $100 cash bonus when a new BMO Harris personal checking account is opened and qualifying direct deposits are made. The first direct deposit must be made within 60 days of opening the account, and you bonus should be deposited within 120 days of opening the account, providing the requirements have been met.
13. Regions Bank – Up to $100 Cash Bonus
Open a new checking account at Regions Bank, either online or at a branch. Then open a Regions LifeGreen Savings Account with an opening deposit of $50 or more. Set up a recurring monthly transfer of $10 or more from your Regions checking account to your LifeGreen Savings Account, and receive the max savings bonus of $100 on the annual anniversary date of opening your savings account. Your bonus should be deposited into your account on the business day following your anniversary date.
14. Charles Schwab – $100 Cash Bonus
Open a new qualifying Charles Schwab account, deposit at least $1000, and the $100 bonus will be placed into your account usually within 30 days. Monthly fees may apply. You can also open the account via telephone by calling 1-800-398-8640 and mentioning the promo code REFER.
15. U.S. Bank – Up to $100 Bonus
Open a new Silver Checking Package Account at U.S. Bank along with a Package Money Market Savings Account, then enroll in START Smart within 90 days. You must also make at least one qualifying transfer (through START Smart) from your checking account to your money market account. Once you have an account balance of $500 in your money market account, you’ll become eligible for a $50 bonus. You’ll also receive 1% cash back on grocery and gas transactions on your debit card (up to $50) during the first year of enrollment. The accounts must remain open for at least 1 year, and your bonus and/or cash back will be paid out after that date. There’s a $25 minimum opening deposit required for both accounts.
16. 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 2 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.
17. Capital One 360 – Up to $50 Bonus
Open a new Capital One 360 checking account with a qualified minimum deposit of $250 or more, make at least 3 debit card or Person2Person payments within 45 days of opening the account, and a $25 bonus will be deposited into your account 50 days after meeting the requirements. Partner that with a new Capital One 360 savings account (also with at least a $250 qualified opening deposit) and you’ll get another $25 bonus after opening the account.
18. 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.
19. 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 1 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 online banking features. 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 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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