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22 Best New Bank Account Promotions & Offers – August 2020

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It’s possible to make $100s just by opening up a bank account. But sorting through the best offers can be tricky.

At Money Crashers, we comb through hundreds of deals every month to find you the most lucrative sign-up bonuses – some worth up to $1,000. We also rank the best high-yield checking accounts, cash back credit cards, and more.

Don’t want to miss out? Here are the best bank promotions for August.

Top Bank Account Promotions (August 2020)


1. BBVA Online Checking – Up to $250 Bonus

Bbva LogoOpen a BBVA Online Checking account by Aug. 21, 2020, for the opportunity to earn up to $250 in bonus cash. Here’s how it works:

  • Open your new Online Checking account by Aug. 21, 2020.
  • Receive a qualifying direct deposit of $500 or more by Oct. 31, 2020, to earn a $200 bonus.
  • Add an Online Savings account and have a savings balance of at least $1,000 on Oct. 31, 2020, to increase your bonus to $250.

That’s all you have to do to receive up to $250 bonus cash by Jan. 31, 2021. And, moving forward, you’ll pay no monthly maintenance fees to keep your account open.

Apply Now


2. TD Bank Beyond Checking℠ – $300 Cash Bonus

td bankApply online for a new TD Bank Beyond Checking account, and you’ll get a $300 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 Beyond checking account typically includes a $25 monthly maintenance fee, but it’s waived with monthly direct deposits of $5,000 or more, a minimum daily balance of $2,500, or a combined balance of $25,000 across your eligible TD accounts.

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.

Apply Now


3. TD Bank Convenience Checking℠ – $150 Cash Bonus

td bankAs an alternative to the TD Bank Beyond Checking offer above, you can apply online for a new TD Bank Convenience CheckingSM account, which has a much lower minimum balance requirement. You’ll get a $150 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 Convenience Checking account typically includes a $15 monthly maintenance fee, but it’s waived if you keep a low minimum daily balance of at least $100. Students and young adults ages 17 through 23 qualify for additional perks, such as no monthly maintenance fee and no minimum balance requirements.

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.

Apply Now


4. Chase Premier Plus CheckingSM – $300 Bonus

chase bank logoTo qualify for this bonus, open a new Chase Premier Plus CheckingSM account by October 14, 2020, and have a direct deposit (electronic transfer for paychecks, pensions, or government benefits) made to the account within 60 days. (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 you take these steps, you should receive the bonus in your account within 10 business days.

Keep in mind that the Premier Plus account has a monthly service fee of $25. However, the fee is waived if you 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. There’s no minimum required opening deposit. Interest rates are variable and subject to change.

Chase has ATMs and branches in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MI, NV, NJ, NY, OH, OK, OR, TX, UT, WA, WV, WI. This offer is available nationwide, except for residents of AK, HI, and PR.

Apply Now


5. Chase Total Checking® – $200 Bonus

chase bank logoThere is a separate bonus offer of $200 for Chase Total Checking®, which is a step down from the Chase Premier Plus Checking account mentioned above. Open a new Chase Total Checking® account and make a qualifying direct deposit within 60 days. You’ll then receive a $200 bonus within 10 business days.

There is a $12 monthly fee, but it’s waived if you meet at least one of the following criteria in each monthly statement period:

  • Execute direct deposits totaling $500 or more made to the account
  • Maintain a $1,500 minimum daily balance
  • Maintain an average daily balance of $5,000 or more in qualifying linked deposits or investments
  • Pay at least $25 or more in qualifying checking-related services or fees

To receive this bonus, you can either apply online using the link above or enter your email here and take the coupon to a local Chase branch. You must apply by October 14, 2020.

Chase has ATMs and branches in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MI, NV, NJ, NY, OH, OK, OR, TX, UT, WA, WV, WI. This offer is available online nationwide, except for residents of AK, HI, and PR.

Apply Now


6. HSBC Premier Checking – Up to $600 Cash Back

hsbcOpen a new HSBC Premier Checking account and set up qualifying direct deposits to earn 3% cash back on qualifying direct deposits during the first 6 months your account is open, up to $600 total cash back ($100 maximum per month).

To earn the bonus, open your new Premier Checking account by September 30, 2020, and set up qualifying third-party direct deposits (at least one per calendar month) to your HSBC Premier checking account(s) per calendar month. You’ll earn 3% cash back on each qualifying direct deposit, up to $100 total per month and $600 total during the first 6 months your account is open. After completing the qualifying activities each month, you’ll receive your cash back for the month in your Premier Checking account within eight weeks.

Moving forward, avoid the $50 monthly maintenance fee by making recurring direct deposits totaling at least $5,000 in per month or maintaining a combined minimum balance of $75,000 across all eligible personal and investment accounts.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A., member FDIC.

Apply Now


7. HSBC Premier Checking – $450 Welcome Offer

hsbcHSBC has another great offer for new Premier Checking customers.

Here’s how it works. Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.

• Open your new HSBC Premier checking account online by September 30, 2020; and

• Make recurring monthly Qualifying 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 the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It’s that simple.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A., member FDIC.

Apply Now


8. Aspiration – $100 Bonus

Aspiration LogoOpen a new Aspiration Spend & Save account and make at least $1,000 in cumulative purchases with your debit card during the first 60 days to earn a $100 cash bonus. Allow up to 120 calendar days from your account opening date for the credit to post to your Aspiration Spend & Save Account. Your account must be open and in good standing through the credit date.

Apply Now


9. Chase SavingsSM – $150 Bonus

Chase Bank LogoNew Chase SavingsSM customers have a great opportunity to boost their savings by opening a new Chase SavingsSM account and completing qualifying activities.

To earn the $150 bonus, open a new Chase SavingsSM account and deposit a total of $10,000 or more in new money within 20 business days. Then, maintain a $10,000 balance for 90 days.

Moving forward, the 0.01% APY is effective as of June 12, 2020. Interest rates are variable and subject to change. The $5 monthly maintenance fee is waived with one of the following, each monthly statement period:

  • A beginning daily balance of $300 or more in the account
  • $25 or more in total Autosave (or other repeating automatic transfers) from your personal Chase checking account or Chase Liquid® Card
  • A Chase College CheckingSM account linked to this account for overdraft protection
  • An individual account owner younger than 18
  • A qualifying linked Chase account, including: Chase Better Banking® Checking, Chase Premier CheckingSM, Chase Premier Plus CheckingSM, Chase SapphireSM Checking, or Chase Private Client CheckingSM

Chase has ATMs and branches in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MI, NV, NJ, NY, OH, OK, OR, TX, UT, WA, WV, WI. This offer is available online nationwide, except for residents of AK, HI, and PR.

Apply Now


10. Chase Total Business Checking® – $300 Bonus

Chase Bank LogoSmall business owners (including sole proprietors) can take advantage of an attractive offer for new Chase Total Business Checking® customers.

To qualify for this opportunity, simply open a new Chase Total Business Checking® account with qualifying activities.

Moving forward, you can avoid the $12 monthly service fee ($15 with paper statements) by maintaining a minimum daily balance of $1,500.

Chase has ATMs and branches in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MI, NV, NJ, NY, OH, OK, OR, TX, UT, WA, WV, WI. This offer is available online nationwide, except for residents of AK, HI, and PR.

Apply Now


11. Bank of America Advantage Banking – $100 Bonus Offer

Bank of America Advantage BankingBofa New Logo 7 22 20 is an innovative checking account with a great bonus offer for new account holders.

See offer page for more details.

Bank of America Advantage Banking is a checking account with three settings: Advantage SafeBalance, Advantage Plus, and Advantage Relationship. Pick the one that works for you right now, and if your life changes, switch to another setting that fits the new you. It’s that simple.

  • Easy, Anytime Access: Visit Bank of America at thousands of financial centers and ATMs.
  • 24/7 Security: Total Security Protection® and fraud monitoring.  Safer sign-in, card locking features and more.
  • Convenient Ways to Pay: Use your debit card or a digital wallet.
  • Smart Money Management Tools: Set custom alerts and savings goals.  Get cash back deals and rewards customized for you.
  • Unauthorized Transactions: Bank of America’s $0 Liability Guarantee means that you’re not liable for unauthorized transactions made using your consumer debit card, as long as you report them promptly.
  • Debit Card Controls: Lock a missing card quickly and easily to prevent unauthorized use.
  • Custom Alerts:  Know now and react fast to important account changes.  You can set custom alerts via email or text for things like a low balance, a pending deposit, an upcoming bill, and more.

Apply Now

Bank of America, N.A. Member FDIC.


12. HSBC Advance Checking – Up to $240 Cash Back

hsbcOpen a new HSBC Advance Checking account and set up qualifying direct deposits to earn 3% cash back on qualifying direct deposits during the first 6 calendar months your account is open, up to $240 in total bonus cash ($40 total bonus cash per month).

Here’s how to do it. First, open your account by September 30, 2020. Then, set up at least one recurring monthly direct deposit from a qualifying third-party payee for at least three consecutive months. You’ll earn 3% on these qualifying direct deposits, up to $240 in total bonus cash during the 6-month bonus period and up to $40 in total bonus cash per month. You’ll receive your bonus within eight weeks after completing the each month’s qualifying activities.

Moving forward, you can avoid the $25 monthly maintenance fee by doing one of the following:

  • Maintaining a $5,000 daily balance in combined personal and investment accounts;
  • Making a monthly recurring direct deposit into the account from a third party; or
  • Holding a HSBC U.S. residential mortgage loan.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A., member FDIC.

Apply Now


13. HSBC Advance Checking – $200 Welcome Offer

hsbcHSBC Advance Checking has a solid welcome offer as well.

Here’s how it works. Get a $200 Welcome Deposit for eligible new customers who open a new HSBC Advance checking account and complete the following qualifying activities.

• Open your new HSBC Advance checking account online by September 30, 2020; and

• Make recurring monthly Qualifying Direct Deposits totaling at least $500 from a third party to your HSBC Advance checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening

You will automatically receive the $200 Welcome Deposit in your new HSBC Advance checking account approximately eight weeks after completing all qualifying activities. It’s that simple.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A., member FDIC.

Apply Now


14. Citibank – $700 Cash Bonus

citibank logoFor a limited time, earn $700 when you open new checking and savings account with Citibank and complete all required activities. Here’s how:

  • Open new eligible checking and savings accounts in the Citi Priority Account Package during the offer period.
  • Deposit $50,000 or more in funds new to Citibank between the checking and savings accounts within 30 days of account opening.
  • Keep a minimum balance of $50,000 between the two accounts for 60 consecutive calendar days thereafter.

After completing all qualifying activities, you’ll receive the $700 bonus in your account within 90 calendar days. You must apply from the offer page linked below to earn this offer.

The Citibank Priority Account Package is available in NY, NJ, IL, CA, CT, DC, FL, VA, MD, and NV. If you’re not a resident of any of these states, consider the High-Yield Interest Checking Account, available as part of the Citi® Elevate package. With unlimited ATM reimbursements and yields as high as 1.01% APY, it’s a great choice for depositors eager to put their money to work.


15. Bask Bank – Up to 71,000 Bonus AAdvantage® Miles

Bask Bank LogoBask Bank offers three great opportunities for new account holders to earn American Airlines AAdvantage® miles during the first year after opening a Bask Savings Account.

First-Year Balance Bonus

Earn up to 40,000 bonus miles with this three-tiered bonus. To qualify, the account must be funded within 60 days of opening and the qualifying balance must be maintained throughout the 360-day offer period.

  • Deposit and maintain a $25,000 minimum balance throughout the offer period to earn a total of 10,000 bonus miles.
  • Deposit and maintain a $50,000 minimum balance for the entire offer period to earn a total of 20,000 bonus miles.
  • Deposit and maintain a $100,000 minimum balance for the entire offer period to earn a total of 40,000 bonus miles.

Miles are awarded within 10 business days. Allow up to eight weeks for them to post to your AAdvantage® account.

Account Opening Bonus

Though not quite as generous, this bonus is easier to attain:

  • Deposit $5,000 in new money (funds not previously deposited with Bask Bank or its affiliates) into your new Bask Savings Account within 30 days of opening.
  • Maintain a $5,000 minimum balance in the account for at least 30 days within the first 60 days of account opening and you’ll receive 5,000 AAdvantage® miles.

Bask Bank awards bonus miles within 10 business days of confirming you’ve met the bonus requirements. Allow up to eight weeks for miles to post to your AAdvantage® account.

Referral Bonus

Existing Bask Bank customers are eligible to earn up to 25,000 bonus AAdvantage® miles when they refer up to five friends to Bask Bank. Each referral is worth 5,000 bonus miles.

To be eligible for this bonus, you must share your unique referral link from your bonus dashboard before September 30, 2020, then maintain a minimum daily balance of $10,000 for 90 consecutive days between June 17, 2020 and December 31, 2020. Your miles will be awarded on the following Wednesday after all qualifications have been met.

One-Time Feedback Bonus

New Bask Savings Account holders earn 1,000 bonus AAdvantage® miles for completing a short feedback survey through Bask Bank’s online account dashboard or mobile app.

The value of this offer will be reported to the IRS and the recipient is responsible for any federal, state or local taxes on this offer.

Apply Now

Bask Bank and BankDirect are divisions of Texas Capital Bank, N.A. Member FDIC. The sum of your total deposits with (i) Bask Bank; (ii) BankDirect; and (iii) Texas Capital Bank, N.A. are insured up to $250,000.  Additional coverage may be available depending on how your assets are held.


16. SunTrust Bank Advantage Checking – $400 Cash Bonus

Open a new SunTrust Bank Advantage Checking account using the promo code “Q320ADVANTAGE” and complete qualifying activities to earn a $400 cash bonus.

Here’s how it works. Open a new Advantage Checking account using the promo code above by September 30, 2020. Then, within the first 3 months of opening your account, complete at least $3,000 in qualifying direct deposits per statement cycle for 2 consecutive statement cycles.

Once you’ve completed the qualifying activities, the $400 bonus will be deposited into your account within 8 weeks. Moving forward, you can avoid the $20 monthly maintenance fee by doing one of the following:

  • Make $3,000 or more in total qualifying direct deposits each month
  • Hold $10,000 total in combined relationship balances linked across eligible deposits and investments
  • Have a linked personal SunTrust credit card, mortgage, loan, or small business checking account

Additionally, depending on your total relationship balance with SunTrust, you could qualify for a loyalty cash bonus of up to 50%.

This offer applies to new SunTrust checking customers. New customers are defined as those without existing accounts or accounts closed within the past 180 days living in states in which SunTrust Bank has branches: AL, AR, FL, GA, MD, MS, NC, SC, TN, VA, DC & WV. Check SunTrust Bank’s website for availability in your area.

Apply Now


17. SunTrust Bank Essential Checking – $200 Cash Bonus

suntrustNew SunTrust customers can take advantage of another great offer: a $200 cash bonus opportunity when they open a new SunTrust Essential Checking account and complete the qualifying activities.

Here’s how to earn the bonus. First, open a new SunTrust Advantage Checking account using the promo code “Q320ESSENTIAL” by September 30, 2020, with a minimum opening deposit of $100. Then, complete at least $500 in cumulative direct deposits each statement cycle for two consecutive statement cycles within the first three full monthly statement cycles. Qualifying direct deposits include wage or salary, pension, Social Security, or other regular monthly income.

Once you complete the offer requirements, you’ll receive your $200 bonus within eight weeks. Moving forward, you can avoid the $7 monthly maintenance fee by doing one of the following:

  • Making 10 or more transactions per statement cycle
  • Making $500 or more in total qualifying direct deposits per statement cycle
  • Keeping a $500 minimum daily balance
  • Qualifying for SunTrust’s student waiver

This offer applies to new SunTrust checking customers (defined as customers without existing accounts or accounts closed within the past 180 days) living in states in which SunTrust Bank has a physical presence, including AL, AR, FL, GA, MD, MS, NC, SC, TN, VA, DC & WV. Check SunTrust Bank’s website for availability in your area.

Apply Now


18. BMO Harris – Up to $200 Cash Bonus

bmo harris bankIf you’re a Bank At Work or Group Banking Services customer at BMO Harris, you can earn as much as $200. When you open a new personal checking account and meet the direct deposit requirements, you’ll receive $100. You get an additional $50 by opening a new Statement Savings Account with at least $1,000 of new money. Another $50 comes your way when open a new BMO Harris Health Savings Account.

There’s a separate bonus worth up to $250 for applicants who are approved for a BMO Harris Bank Platinum Rewards Mastercard® Credit Card and spend $2,000 within the first 3 months of account opening. However, credit approval is required for this offer and not all applicants will qualify.

You should receive your bonuses between 90 and 120 days of either account opening or meeting the requirements.

Apply Now


19. Regions Bank – Up to $100 Cash Bonus Each Year
regions bank

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. Then, set up a recurring monthly transfer of $10 or more from your Regions checking account to your LifeGreen Savings Account and complete at least 12 monthly transfers. Every year, you’ll receive a 1% savings bonus on your account anniversary date, based on your account’s average monthly balance for the preceding 12 months, up to the max annual savings bonus of $100. Your bonus should be deposited into your account on the business day following your anniversary date.

Apply Now


20. SoFi Money – $50 Referral Bonus

Open a new SoFi Money account, then refer friends to open accounts of their own to earn $50 per referral. The referred party may be eligible to earn a new account bonus, as well. The amount of the referral bonus is subject to change without notice but is currently $50 for both parties. You can earn up to $10,000 with this offer – if you have enough contacts to refer.

To begin referring new account holders to SoFi Money, open the “Refer a Friend” tab in your SoFi Money app and copy your unique link. Then, send the link to whoever you’d like to refer via social media, email, or whatever’s most convenient. For a referral to be successful, the referred party must open and fund a new SoFi Money account with $100 in new money within 14 days of receiving the link.

SoFi Money is a high-yield cash management account. Read all disclosures for current rate and balance information.

Learn More


21. Citizens Bank – Up to $600 When You Open a New Checking & Savings Account

Citizens Bank has an attractive, two-part bonus opportunity that could net you up to $600 when you open a new qualifying checking and savings account by October 1, 2020, and complete the required activities.

Here’s how these offers work:

$300 Bonus

Open a qualifying Citizens Bank personal checking account by October 1, 2020, and have at least one direct deposit of $500 or more post to your new checking account within 60 days of account opening. The $300 bonus should post within 5 months after completing these qualifying activities.

$200 Bonus

Open a qualifying Citizens Bank personal checking account and personal savings account on the same day (by October 1, 2020), and deposit at least $15,000 in new funds into your savings account within 60 days of account opening. You must keep the $15,000 (or more) in your account for the remainder of the calendar month during which it occurs and for three full calendar months thereafter.

No checking direct deposit is required to claim this bonus. Once you complete the qualifying activities, the $200 bonus should post within 5 months.

$600 Bonus

Complete all qualifying activities required for the $300 and $200 bonuses and you’ll receive both bonuses, plus an extra $100, within 5 months. That’s a total potential bonus of $600.

These offers are only available to customers in states where Citizens Bank has a physical presence, including Massachusetts, New York, New Jersey, Pennsylvania, Ohio, Michigan, Connecticut, New Hampshire, Rhode Island, Delaware, and Vermont. These offers are not available to applicants who’ve held or been signers on Citizens Bank accounts during the six months prior to applying.

Apply Now


22. Citizens Bank – $1,000 Bonus for College Savings

citizens bank logoCitizens Bank is currently offering a $1,000 bonus (plus interest) for those who sign up for a CollegeSaver savings account, an easy, manageable savings plan that will help you meet your college savings needs. It’s an interest-bearing account, and if you open it before your child’s 12th birthday and save the monthly minimum amount every year, you’ll receive a $1,000 bonus (plus interest) when your child turns 18. Opening an account before your child turns 12 will only increase the savings.

This offer is only available in states where Citizens Bank has a physical presence, mostly in the northeastern U.S. Check Citizens Bank’s website for availability and other restrictions.

Apply Now


Final Word

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?

Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are 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.

UGC Disclosure: The comments below are not provided or commissioned by the bank advertiser. Comments have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Brian Martucci
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.

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