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Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

22 Best Bank Promotions & Bonus Offers for December 2023


It’s possible to make $100s by opening a new bank account, but sorting through the best offers can be tricky. There’s no shortage of enticing opportunities for banking clients right now.

We’re happy to do the work for you. The Money Crashers team combs through hundreds of bank account deals every month to find you the most lucrative sign-up bonuses – some worth up to $1,000 or more.

Don’t want to miss out? Read on for our roundup of the best bank promotions for this month and the requirements you must meet to qualify for each. Most are available to new customers in all 50 states, but a few have geographical restrictions to bear in mind.

22 Best Bank Account Promotions & Offers for December 2023

Here are the best new bank account offers for savings and checking account promotions:

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BMO Relationship Checking

Our Rating
5/5

$600 cash bonus with at least $7,500 in qualifying direct deposits in the first 120 days
Bonus
$600
Good Through
December 8, 2023
Direct Deposit Requirement
$7,500 in First 120 Days
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Open a new BMO Relationship Checking by December 8, 2023, and get a $600 cash bonus when you receive a total of at least $7,500 in qualifying direct deposits within the first 120 days your account is open.

That’s it — it’s that simple.

Disclaimer: This new checking account offer is limited to one per customer. It’s not available to current BMO personal checking customers nor previous customers who closed a BMO personal checking account within the past 12 months.

You can open your account online or at a BMO branch. Accounts are subject to approval. Member FDIC.

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ATM Surcharge Rebates
$25 per monthly statement period
Relationship Benefits
Yes, with a qualifying balance
Earn Interest on Checking Balance
Yes

BMO Smart Advantage Account

Our Rating
4.8/5

$400 cash bonus with at least $4,000 in qualifying direct deposits in the first 120 days
Bonus
$400
Good Through
December 8, 2023
Direct Deposit Requirement
$4,000 in 120 Days
Our Rating
4.8/5
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This offer is even easier to earn than the BMO Relationship Account opportunity. Just do the following to get your $400 cash bonus:

  • Open a new BMO Smart Advantage Account by December 8, 2023.
  • Get a $400 cash bonus when you receive a total of at least $4,000 in qualifying direct deposits within the first 120 days your account is open.

Disclaimer: This offer is limited to one per customer. It is not available to current BMO  personal checking customers, nor those who’ve had one within the past 12 months.

Open your account online or at a BMO branch, subject to approval. Member FDIC.

Apply NowRead the Review
Monthly Maintenance Fee
$0 with paperless statements
Minimum Balance
None
Unlimited ATM Transactions
Yes, in-network (40,000+ ATMs)

Citi® Priority Account

Our Rating
4.7/5

Earn up to $2,000 with qualifying activities
Bonus (up to)
$2,000
Good Through
January 9, 2024
Requirements
At least $10,000 in new money
Our Rating
4.7/5
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Through January 9, 2024, you can earn a checking account bonus worth up to $2,000 when you open a Citi® Priority Account — which includes a checking and savings account — and complete all required activities. Here’s how:

  • Open new eligible Citi Priority checking account during the offer period (through January 9, 2024).
  • Make a qualifying deposit of funds new to Citi into your checking account within 20 days of account opening. The bonus tiers at the right show what your deposit could earn.
  • Keep a minimum balance equal to or greater than your initial deposit for 60 consecutive calendar days after the 21st day.
  • If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.

After completing all qualifying activities, you’ll receive the bonus in your account within 30 calendar days. You must apply from the offer page linked below to earn this offer. This offer is available nationwide.

Moving forward, enjoy additional Citi Priority Account benefits like fee-free access to 65,000+ Citi ATMs, travel and global benefits, and investment guidance and resources from Citi Personal Wealth Management.

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$200 Bonus
Minimum deposit and minimum balance between $10,000 and $29,999
$500 Bonus
Between $30,000 and $74,999
$1,000 Bonus
Between $75,000 and $199,999
$1,500 Bonus
Between $200,000 and $299,999
$2,000 Bonus
$300,000 or more

Bank of America Advantage Banking

Our Rating
4/5

See offer page for more details.
Bonus
$200
Requirements
See Offer Page
Our Rating
4/5
Learn More
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Advantage Banking gives you the flexibility you deserve with distinct accounts to help meet you wherever you are in your journey.

  • Easy, Anytime Access: Visit Bank of America at thousands of financial centers and ATMs.
  • 24/7 Security: Total Security Protection® and fraud monitoring.  Secure sign-in, card locking features and more.
  • Convenient Ways to Pay: Digital Banking with the choice to pay using a variety of methods.
  • Smart Money Management Tools: Set custom alerts and savings goals.
  • Cash BackEarn up to 10% cash back with BankAmeriDeals® at select restaurants and stores, when you pay with your Bank of America debit or credit card.
  • Mobile DepositDeposit checks from almost anywhere with the Bank of America Mobile Banking app on your smartphone or tablet.

Bank of America, N.A. Member FDIC.

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U.S. Bank Smartly® Checking

Our Rating
4.6/5

Earn up to $800 Bonus With Qualifying Activities
Bonus
Up to $800
Offer valid through
December 29, 2023
Requirement
Qualifying Direct Deposit(s) + Enrollment in Online Banking or U.S. Bank App
Our Rating
4.6/5
Apply Now
Apply Now
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Earn up to $800 when you open a new U.S. Bank Smartly® Checking account and Standard Savings account online and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 29, 2023. Member FDIC.

Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:

    • Complete two or more direct deposits totaling $5,000 to $9,999 to earn $300 or $10,000 or more to earn $500
    • Enroll in online banking or the U.S. Bank Mobile App

Earn $200 with a new Standard Savings account.

  • Make new money deposit(s) totaling $25,000 or more by January 31, 2024
  • Maintain at balance of least $25,000 until July 31, 2024

Earn an additional $100 when you fulfill both the Bank Smartly checking and Standard Savings requirements.

Offer may not be available if you live outside the U.S. Bank footprint.

Moving forward, enjoy additional features and benefits like:

    • No ATM transaction fees at U.S. Bank ATMs and no surcharge fees at MoneyPass® Network ATMs
    • Manage cash easily with automated budgeting and ways to save in a #1 rated mobile app
    • Send money with Zelle®
    • No fee overdraft protection transfers from a linked deposit account, $50 overdrawn Available Balance safety threshold and Overdraft Fee Forgiven program
    • Get access to U.S. Bank Smart Rewards® and take advantage of additional benefits
Apply Now

Chase Total Checking®

Our Rating
4.5/5

Earn a $200 bonus with qualifying direct deposit
Bonus
$200
Good Through
January 24, 2024
Requirements
Qualifying Direct Deposit
Our Rating
4.5/5
Apply Now
Apply Now
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Open a new Chase Total Checking® account to earn one of the easiest bank account opening bonuses available.

All you have to do is open your account by January 24, 2024 and set up direct deposit within 90 days of coupon enrollment. You’ll receive your $200 bonus within 15 business days.

Disclaimer: This offer is available online nationwide, except for residents of AK, HI, and PR.

The $12 monthly maintenance fee is waived if you meet at least one of the criteria at right in each monthly statement period.

Apply Now
Waiver option #1
Execute direct deposits totaling $500
Waiver option #2
Maintain a $1,500 minimum daily balance
Waiver option #3
Maintain an average daily balance of $5,000 or more in qualifying linked deposits or investments
Waiver option #4
Pay at least $25 or more in qualifying checking-related services or fees

PNC Virtual Wallet

Our Rating
4.3/5

Earn up to $400 when you open by October 31, 2023, and complete qualifying activities
Bonus (up to)
$400
Good Through
October 31, 2023
Requirements
$500+ Direct Deposit
Our Rating
4.3/5
Apply Now
Apply Now
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For a limited time, you can earn a bonus worth up to $400 when you open a new PNC Virtual Wallet and complete qualifying activities.

To qualify, you must open your account by October 31, 2023. You must also make a qualifying direct deposit(s) within the first 60 days your account is open.

The bonus tiers at right show how much you can earn with an eligible deposit to your Virtual Wallet’s Spend account.

Disclaimer: Your bonus will be credited to the eligible account within 60 to 90 days after you’ve met all conditions. Your Virtual Wallet product must remain open in order for you to receive the reward.

This offer is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV.

Virtual Wallet with Performance Select is offered in the state of MO with the exception of the Crossroads Solution Center in Kansas City. Offer is contingent on product availability and may vary based on your address and where and how you open your account.

If you’re located in AR, CT, ID, IA, KS, LA, ME, MA, MN, MS, MT, NE, NV, NH, ND, OK, OR, RI, TN, UT, VT, WA, or WY you can receive a $200 bonus with the PNC Virtual Wallet Checking Pro account.

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$100 Bonus
Deposit(s) totaling $500 or more
$200 Bonus
Deposit(s) totaling $2,000 or more
$400 Bonus
Deposit(s) totaling $5,000 or more

Discover Online Savings Account

Our Rating
4.1/5

Earn up to $200 with qualifying funding
Bonus (up to)
$200
Good Through
December 14, 2023
Requirements
See Details
Our Rating
4.1/5
Apply Now
Apply Now
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For a limited time only, apply for your first Discover Online Savings Account to take advantage of an opportunity to earn a $150 or $200 account opening bonus. Here’s how it works:

  • Apply for your first Discover Online Savings Account online, by phone, or through the Discover app by December 14, 2023, using the offer code MC623.
  • Fund the account with qualifying cumulative deposits within 60 days of the account opening date. Deposit must be posted to account within 30 days of account open date.
  • The total cumulative funding amount must be at least $15,000 to qualify for a bonus. The bonus tiers at right show how much your funding amount could earn as a bonus.

See advertiser website for complete details.

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code MC923 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account 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 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends December 14, 2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.

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$150 Bonus
Funding amount of at least $15,000
$200 Bonus
Funding amount of at least $25,000

Chase Private Client Checking℠

Our Rating
4.8/5

Earn up to $3,000 as a bonus with qualifying activities
Bonus (up to)
$3,000
Good Through
January 24, 2024
Requirements
See below
Our Rating
4.8/5
Apply Now
Apply Now
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For a limited time, you can earn a bonus worth up to $3,000 when you open a new Chase Private Client Checking account and complete qualifying activities.

The bonus amount depends on the amount of new money or securities you transfer into a combination of eligible Chase checking, savings and/or investment accounts. You must deposit at least $150,000 in new money or securities to earn the minimum bonus ($1,000). See bonus tiers at right.

Eligible accounts exclude Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing accounts, J.P. Morgan Wealth Management retirement accounts, and CDs.

To earn a bonus, do the following:

  • Meet with a Chase Private Banker at a Chase branch to open your account by January 24, 2024
  • Within 45 days of coupon enrollment, transfer an eligible amount of new money or securities to a combination of eligible checking, savings and/or investment accounts. Your bonus will be determined on day 45.
  • Maintain the balance for at least 90 days from coupon enrollment.

Your bonus will be deposited in your account within 40 days of completing these qualifying activities.

Chase Private Client has no monthly service fee when you keep an average beginning day balance of $150,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances, OR
have a linked Chase Platinum Business Checking account.
Otherwise, a $35 monthly service fee will apply.

Apply Now
$1,000 Bonus
At least $150,000 in new money or securities
$2,000 Bonus
At least $250,000
$3,000 Bonus
At least $500,000

TD Bank Beyond Checking℠

Our Rating
4.6/5

Earn a $300 bonus with a $2,500 direct deposit
Bonus
$300
Direct Deposit Requirement
$2,500 within 60 days
Our Rating
4.6/5
Apply Now
Apply Now
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New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, 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

Three ways to go monthly maintenance fee-free: Monthly Maintenance fee waived when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance, or have a $25,000 combined balance across eligible TD accounts.

ATM perks: TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance

A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.

Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring

Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that’s open early, late, and weekends.

Get reimbursed for fees including two overdraft fees per year, all Rush Bill Payments, and one outgoing wire per statement cycle (domestic or international).

Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send Money with Zelle®, Mobile Deposit and Online Statements.
Apply Now
Waiver option #1
Receive direct deposits of $5,000 or more
Waiver option #2
Maintain a minimum daily balance of $2,500
Waiver option #3
Maintain a combined balance of $25,000 across your eligible TD accounts

TD Bank Convenience Checking℠

Our Rating
4.6/5

Earn a $200 bonus with a $500 direct deposit
Bonus
$200
Direct Deposit Requirement
$500 within 60 days
Our Rating
4.6/5
Apply Now
Apply Now
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As an alternative to the TD Bank Beyond Checking offer above, you can apply online for a new TD Bank Convenience Checking account, which has a much lower minimum balance requirement to avoid the monthly maintenance fee. You’ll get a $200 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.

Students and young adults ages 17 through 23 qualify for additional perks, such as no monthly maintenance fee and no minimum balance requirements.

Disclaimer: This offer is available to residents of the following states only: CT, DE, DC, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA.

Apply Now

KeyBank

Our Rating
4.8/5

Earn $200 with a Key Smart Checking® or Key Select Checking℠ account and qualified activities until 12/8/2023
Bonus
$200
Expires
December 8, 2023
Requirements
Open a Key Smart Checking® account online with a minimum $10 deposit or a Key Select Checking℠ account with qualifying direct deposits, see details
Our Rating
4.8/5
Learn More
Learn More
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You can earn a $200 cash bonus when you open a Key Smart Checking® or Key Select Checking℠ account and complete the following requirements:

  • Open a new Key Smart Checking® or Key Select Checking℠ account before December 8, 2023.
  • Make an opening deposit of $10 for a Key Smart Checking® account or $50 for a Key Select Checking℠ account, plus one qualified direct deposit of at least $500 within the first 60 days of account opening.

Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.

Offer is available in these states: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA

KeyBank Member FDIC

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Wealthfront Cash

Our Rating
4/5

Earn $30 on $500 in new money deposits
Bonus
$30
Deposit Requirement
$500+
Our Rating
4/5
Apply Now
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If you’ve never had a Wealthfront account, now’s your chance to earn a tidy $30 bonus when you open one.

All you have to do is open your account using the link on this page, transfer at least $500 in new funds into it, and look for the bonus in your account shortly after.

This offer is only available to people who’ve never had a Wealthfront Cash or Wealthfront Brokerage account. Other restrictions may apply; see terms for complete details.

Money Crashers, LLC receives cash compensation from Wealthfront Advisers LLC (“Wealthfront Advisers”) for each new client that applies for a Wealthfront Automated Investing Account through our links. This creates an incentive that results in a material conflict of interest. Money Crashers, LLC is not a Wealthfront Advisers client, and this is a paid endorsement. More information is available via our links to Wealthfront Advisers.

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Account Yield
5.00%
Minimum Balance
$0
Monthly Maintenance Fee
$0

SoFi Checking and Savings

Our Rating
4.4/5

Earn up to $250 with qualifying direct deposits
Bonus (up to)
$250
Good Through
December 31, 2023
Requirements
Direct Deposits of $1,000+
Our Rating
4.4/5
Apply Now
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Open a new SoFi Checking and Savings account by December 31, 2023, and complete qualifying activities to earn a cash bonus worth up to $250.

To get started, set up direct deposit from a qualifying payer.

You must receive at least one qualifying direct deposit — and a minimum of $1,000 in total deposits — within the 25-day qualification period. The bonus tiers at right show how much you could earn based on your cumulative direct deposits during the period.

Disclaimer: This offer is available to new and existing SoFi users who’ve never been enrolled in direct deposit with SoFi. See terms for additional details.

Apply Now
$50 Bonus
Cumulative direct deposits between $1,000 and $4,999.99
$250 Bonus
Cumulative direct deposits of $5,000 or more

Chase Business Complete Checking®

Our Rating
4.5/5

Earn a $300 cash bonus with qualifying deposits and transactions during the first 90 days
Bonus
$300
Good Through
October 19, 2023
Requirements
$2,000 in deposits in 30 days, five transactions in 90 days
Our Rating
4.5/5
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A very attractive offer awaits Chase-curious entrepreneurs new to Chase Business Complete Banking: $300 for new Chase Business Complete Checking® customers who open an account online or in-person and complete qualifying activities. This offer is valid through October 19, 2023. To qualify for this opportunity, do the following:

  • Open a new Chase Business Complete Checking account by the stated offer end date.
  • Deposit at least $2,000 in new money into the account within 30 days of offer enrollment.
  • Maintain that balance for at least 60 days from offer enrollment.
  • Complete at least five qualifying transactions, including electronic deposits and debit card purchases, within 90 days of offer enrollment.
After you complete all qualifying activities, you should receive the bonus in your account within 15 business days.
Apply NowRead the Review
  • Maintenance Fee: $15 each statement cycle unless you meet one of the waiver options below.
  • Waiver Option #1: Maintain a linked Chase Private Client account.
  • Waiver Option #2: Qualify for Chase Military Banking (open to active-duty, reserve, and veteran service members, including National Guard).
  • Waiver Option #3: Maintain a minimum daily balance of $2,000.
  • Waiver Option #4: Receive at least $2,000 in eligible deposits during the statement cycle.
  • Waiver Option #5: Spend at least $2,000 on Chase Ink Business credit cards during the corresponding statement cycle.
  • Minimum Opening Deposit: $0, but you must deposit at least $2,000 to qualify for the bonus.

Chase College Checking

Our Rating
4.3/5

Earn a $100 bonus when you complete qualifying activities
Bonus
$100
Good Through
January 24, 2024
Our Rating
4.3/5
Apply Now
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The Chase College Checking Account is the best bank account for students between the ages of 17 and 24 — not least because it has a category-leading bonus opportunity for new Chase customers.

When you open a new account, you may qualify for a $100 account opening bonus after completing qualifying activities. The offer page has more details on those

But you have to act fast, as this is a limited-time offer — valid only through January 24, 2024.

Disclaimer: Terms apply. See offer page for more details.

Apply Now
Monthly Service Fee
$0 for college students (5 year max)
Minimum Balance
$0

U.S. Bank Business Checking

Our Rating
4.6/5

Earn a $800 bonus with qualifying enrollment and deposits
Bonus
$750
Good through
January 08, 2024
Requirements
See Offer Terms
Our Rating
4.6/5
Apply Now
Apply Now
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Through January 08, 2024, U.S. Bank is offering the opportunity to earn up to a $800 bonus when you open an eligible new business checking account online with promo code Q3AFL23 and complete qualifying activities1, subject to certain terms and limitations.

The eligible accounts are:

  • Silver Business Checking Package
  • Gold Business Checking Package
  • Platinum Business Checking Package

Complete these steps to earn a $350 bonus offer:

  • Make a deposit of at least $5,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.

Complete these steps to earn a $800 bonus offer:

  • Make a deposit of at least $25,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.

Deposit products offered by U.S. Bank National Association. Member FDIC.

1See offer page for more details.

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Eligible account #1
Silver Business Checking Package
Eligible account #2
Gold Business Checking Package
Eligible account #3
Platinum Business Checking Package

Chase Secure Banking℠

Our Rating
4.2/5

Earn a $100 bonus with qualifying activities
Bonus
$100
Expiration
January 24, 2024
Requirements
See Offer Page
Our Rating
4.2/5
Apply Now
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For a limited time, you can earn a $100 bonus when you open a new Chase Secure BankingSM account and complete qualifying activities.

You must open your account by January 24, 2024 and complete qualifying activities within 60 days of coupon enrollment to earn the bonus.

The biggest hoop to jump through is a requirement to complete 10 qualifying transactions within 60 days.

You’ll receive your $100 bonus within 15 business days after the qualifying transactions have posted to your account.

Disclaimer: Open your account online or in-branch. This offer is available nationwide, but additional terms may apply. See offer page for more details.

Apply Now
Monthly Service Fee
$4.95
Minimum Balance
None
Early Payday
Up to 2 days early

Citigold® Checking Account

Our Rating
4.6/5

Earn up to $2,000 with qualifying new money deposit
Cash Bonus (up to)
$2,000
Expiration
January 9, 2024
Requirements
Qualifying Deposit + Balance
Our Rating
4.6/5
Learn More
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You can earn a checking account bonus worth up to $2,000 when you open a qualifying Citigold® Checking Account and complete qualifying activities. This offer is available to new account holders located in all 50 states.

To qualify, open your account by January 9, 2024.

Then, within 20 days of account opening, make a qualifying deposit in new-to-Citi funds between your new checking and savings accounts.

For at least 60 consecutive calendar days after the 21st day, maintain a minimum balance equal to or greater than your minimum deposit between your checking and savings accounts. If your balance falls to a lower tier at any point during the maintenance period, your bonus changes.

That’s it. Once you’ve completed the qualifying activities, you should see the bonus deposited in your open, eligible account within 30 calendar days.

Moving forward, enjoy access to 70,000+ fee-free ATMs in the U.S. and no Citi fees at non-Citi ATMs. Plus, enjoy access to a world-class investment platform and complimentary financial planning through Citi Personal Wealth Management.

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$200 Bonus
Minimum deposit and minimum balance between $10,000 and $29,999
$500 Bonus
Between $30,000 and $74,999
$1,000 Bonus
Between $75,000 and $199,999
$1,500 Bonus
Between $200,000 and $299,999
$2,000 Bonus
$300,000 or more

Axos Bank Basic Business Checking

Our Rating
4.3/5

Earn up to $400 for your business
Bonus (up to)
$400
Offer Code for $200
NEW400
Our Rating
4.3/5
Apply Now
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Opt for smarter business banking and not only will you take control of your company’s finances, but you’ll also get to enjoy a generous $400 welcome bonus! Just apply by December 31, 2023 and use the promo code NEW400 to claim your bonus. Make the smart move for your business today!

Disclaimer: Your account must remain open for at least 180 days to avoid the $50 early closing fee. Additional terms may apply; see offer page.

Apply Now
Monthly Maintenance Fee
$0
Minimum Balance
$0
ATM Fee Reimbursements
Unlimited

Fifth Third Momentum® Checking

Our Rating
4.5/5

Earn $200 when opening a new checking account with qualifying activities
Bonus
$200
Expires
January 7, 2024
Requirements
$500 in direct deposits within 90 days
Our Rating
4.5/5
Apply Now
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Earn a $200 cash bonus when you open a Fifth Third Momentum checking account and make $500 in direct deposits within the first 90 days.

There are no hidden fees and no minimum balance. Plus, you’ll have access to your direct deposits up to two days early.

Apply Now
Monthly Maintainence Fees
$0
Minimum Balance
$0

Brex Cash

Our Rating
4.7/5

Up to 50,000 points on $9,000 spent in the first 30 days
Bonus Points (up to)
50,000
Bonus AWS Credits
$5,000
SaaS Discounts (up to)
$180,000
Our Rating
4.7/5
Apply Now
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Need a new business banking solution? Brex makes it easy to simplify your finances with corporate cards, rewards, banking alternatives, and spend management — all in one place.

We’ve teamed up with them to give you a special offer when you open a new account using our link and complete qualifying activities.

Within the first 30 days, spend $3,500 on your Brex card to get 30,000 points, or spend $9,000 to get 50,000 points. Plus, get $5,000 AWS Credits and access to as much as $180,000 in SaaS discounts.

Disclaimer: Additional terms apply. See offer page for details.

Apply Now
Account Fees
None
Minimum Balance
$0

These are the top bank promotions active right now. They include a mix of high-yield checking accounts and high-yield savings accounts.

Many are available through popular brick-and-mortar and online banks that also offer competitive yields on other types of deposit accounts, such as money market accounts and certificates of deposit (CDs).

And if you’re in the market for a new home loan or personal loan, opening a deposit account with one of these banks could entitle you to special privileges, like reduced closing costs and lower interest rates.

Why Banks Offer Sign-Up Bonuses

You probably wonder why banks offer sign-up bonuses. Why would they give away ‘free money’?

The answer is simple – marketing.

Think about which bank account you’d be more willing to open: one with no sign-up bonus or one that pays you a couple hundred dollars to open and maintain.

Banks use sign-up bonuses as a marketing tool to get more customers. They figure that by offering the bonuses, they’ll get your business for the new account, plus you might use their other banking services, making the bank even more money.

How to Qualify for a Bank Bonus

Each bank has different requirements to qualify for a bank bonus. The key is to read the fine print to understand how to qualify. Most banks require more than simply opening an account.

For example, they may require a certain number of transactions or a minimum direct deposit. Be sure you can meet the requirements before choosing a bank bonus, paying close attention to the dates that coincide with the bonus.

For example, if a bank requires a minimum balance to earn the bonus, they usually specify how long you must keep the balance in the account either by the number of days or a specific date.

How to Find Bank Bonuses

The easiest way to find bank bonuses is to peruse our list of the best bank promotions available. We keep our list updated so you always have the most current offers available.

You can also find bank bonuses by searching online for bank promotions near you. Search specifically for the type of account you need, such as checking, savings, or business accounts. Then compare the offers presented to you and choose the one that will pay you the highest bonus.

How Bank Bonuses Are Taxed

Bank bonuses, unlike credit card bonuses, are taxed. Just like you’d pay tax on interest earned on your bank account, you’ll pay interest on any bank bonuses, as the IRS considers it interest earned.

Don’t worry about remembering to claim the bank bonus. If you earn a bank bonus, the bank will send you a 1099-INT with the bonus included on the statement so you don’t forget to claim it on your taxes.

How Many Bank Accounts Should You Have?

You can have as many bank accounts as you want, but ideally, you should at least have a checking and savings account.

The savings account should hold the funds meant for an emergency fund or other financial goals. If you can manage the accounts and find accounts that won’t cost you a monthly maintenance fee, you can have even more accounts.

Keeping a separate emergency fund, for example, is usually suggested because it eliminates the risk of spending the money on another goal, leaving nothing for those unprecedented emergencies.

However, don’t open more bank accounts than you can manage or have bank accounts that cost you monthly maintenance fees because you have your money spread out amongst the accounts and can’t meet the minimum balance requirements to waive the monthly maintenance fees.

Are Bank Bonuses Worth It?

Bank bonuses are always worth it as long as you don’t open accounts that will cost you a monthly maintenance fee. Just ensure you can meet the requirements to meet the bank promotion and waive the monthly fee. 

Final Word

Take your pick of these bank promotions. You’ve earned them. But don’t let bank account bonuses have the last word on where you choose to bank.

When choosing a bank, it’s important to find one that suits your needs – whether that’s favorable interest-bearing accounts, low or no fees, overdraft protection, access to potentially lucrative cash-back credit cards, or mobile-friendly online banking features.

Bank account promotions for new customers are wonderful, but taking advantage of permanent perks is a long-lasting bonus in its own right. You deserve a bank that’s willing to work every day to earn your business.

Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser, and have not been reviewed, approved, or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.