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Interest rates on deposit accounts have been falling, which means your savings balance may not be earning as much as it used to. One way to combat falling rates? Earning a cash bonus for opening a new bank account.
Banks that want to attract new customers often offer sign-up bonuses. However, in order to earn the bonus, you usually have to meet a few requirements. Find out which banks are currently offering the best new account promotions and bonuses, and learn how to qualify.
Banks offering new bank account bonuses
Many banks and credit unions offer limited-time cash bonuses for opening new accounts and meeting certain requirements. Here’s a round-up of personal bank account bonuses you may want to consider if you’re in the market for a new checking or savings account.
Note that bonus details are accurate as of the publication date. Please verify account and bonus requirements directly with the financial institution before opening an account.
Alliant Credit Union Ultimate Opportunity Savings Account: $100 bonus
Available through December 31, 2025
Alliant Credit Union is currently offering a bonus of $100 to new members who open an Ultimate Opportunity Savings Account. However, the bonus takes a full year to earn. You'll also need to keep a minimum average daily balance of $100 in your savings account throughout the year in order to qualify.
But this account is still a great option for savers since it offers an APY that’s 15 times the national average — and there are no monthly fees if you set up ePayments. You can also qualify for the bonus based on any deposits you receive, not just recurring direct deposits.
Read our full review of Alliant Credit Union
Associated Bank Checking Account: Up to $600 bonus
Available through December 31, 2025
You can earn up to a $600 bonus when you open any new Associated Bank checking account (in person or online) and have direct deposits totaling $500 or more put into your new checking account within 90 days of opening your account. The amount of your bonus will depend on the average daily balance of your new checking and/or other Associated Bank accounts:
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$1,000-$4,999.99: $300 bonus
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$5,000-$9,999.99: $400 bonus
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$10,000 or more: $600 bonus
If these qualifications are met, your bonus will be paid to your account within 120 days from account opening.
Bank of America Checking Accounts: Up to $500 bonus
Available through January 31, 2026
New checking customers can earn up to $500 by opening a new eligible checking account, then setting up and receiving qualifying direct deposits into the new account within 90 days of account opening. Bonus amount will be based on the total amount of qualifying direct deposits received in the first 90 days:
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$100 bonus: $2,000 total direct deposits
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$300 bonus: $5,000 total direct deposits
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$500 bonus: $10,000+ total direct deposits
Once you've met the requirements, you bonus will be deposited within 90 days.
BMO Bank Checking Accounts: $400 bonus
Available through January 28, 2026
BMO Bank is currently offering a new account bonus on its Smart Advantage and Smart Money checking accounts. You can earn a $400 cash bonus by having at least $4,000 in qualifying direct deposits within the first 90 days.
Capital One 360 Checking: $250 bonus
Available through: Not disclosed
Capital One offers a no-frills checking account that pays a $250 opening bonus. There are no monthly fees or minimum deposit requirements for the account, and it earns a small amount of interest (0.10%) which beats the 0% you get from most other checking accounts.
To qualify for the bonus, open a new account with promo code CHECKING250. Then, set up and receive at least two direct deposits, each of $500 or more, within 75 days of account opening.
Read our full review of Capital One
Chase Total Checking: $300 bonus
Available through January 21, 2026
New Chase checking customers can earn a $300 bonus by opening a Chase Total Checking® account and making direct deposits totaling $500 or more within 90 days of enrollment. Once the required activities are completed, you'll receive your new checking account bonus within 15 days.
Note that this offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last three years.
Read more: Chase Bank vs. Wells Fargo: Which big bank is best for you?
Chase Bank Private Client Checking Account: Up to $3,000 bonus
Available through January 21, 2026
In order to qualify for this bonus, you must open or upgrade to a new Chase Private Client Checking account by Jan. 21, 2026 using the offer code DM22 2292 22CY 6KZM. Next, you’ll need to fund your account by transferring a total of $150,000 or more in qualifying new money or securities to an eligible account within 45 days.
Your bonus amount is determined by your balance:
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$150,000-$249,999.99 qualifies for $1,000
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$250,000-$499,999.99 qualifies for $2,000
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$500,000+ qualifies for $3,000
Your bonus amount will be determined on day 45. Next, you must keep that money in your account for 90 days, and your bonus will be deposited within 40 days.
Read more: What is private banking, and how does it work?
Chime Checking Account: Up to $350 bonus
Available through: Not disclosed
New Chime Checking account customers can earn a bonus of up to $350 by completing certain activities:
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Get 10% cash back on qualifying debit or credit card purchases: up to $100
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Set up a qualifying $500+ direct deposit: $250
These qualifying activities for the offer must be completed within 30 calendar days of opening the Chime Checking Account. You must open your new Chime Checking Account while the Offer is valid
Additionally, the Chime Checking account comes with no monthly fees, no overdraft fees, no foreign transaction fees, and no minimum balance requirement.
Read our full review of Chime
CIT Bank Platinum Savings Account: $300 bonus
Available through: Not disclosed
To earn this bonus from CIT Bank, you must open a Platinum Savings account with the promo code PS2025. Then, make one or more deposits within 30 days of account opening:
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$225 cash bonus with a minimum deposit of $25,000, or
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$300 bonus with a minimum deposit of $50,000
Existing customers can also enroll their existing Platinum Savings account in the promotion and complete the deposit requirements to earn a bonus. Note that only new funds deposited or transferred from outside of CIT Bank count toward bonus eligibility.
Read our full review of CIT Bank
Citibank Checking Accounts: $325 bonus
Available through January 12, 2026
New Citi checking customers who enroll in enhanced direct deposits can earn a $325 cash bonus. In order to qualify, you must receive at least two enhanced direct deposits into your new checking account totaling $3,000 or more within 90 days of opening your account.
Enhanced direct deposits include Zelle, PayPal, and Venmo transfers; paychecks; pension payments; and Social Security payments. Your bonus will be deposited as a credit within 30 calendar days.
E-Trade Checking Accounts: $300 bonus
Available through December 31, 2025
Earn a $300 bonus by opening a new Checking or Max-Rate Checking account by December 31, 2025 with the promo code CHECKING25. You must then make at least two direct deposits, each of $1,500 or more, within 90 days of opening your new account to qualify.
Fifth Third Bank Checking Account: $300 bonus
Available through January 7, 2026
Fifth Third Bank is currently offering a bonus of $300 when you open a qualifying checking account with an offer code. To earn the bonus, you must make direct deposits totaling $500 or more within 90 days of account opening. The bonus will be added to your new account within 10 business days of completing qualifying activity requirements.
Read our full review of Fifth Third Bank
HSBC Premier Checking Account: Up to $3,500 bonus
Available through December 31, 2025
HSBC customers can earn up to $3,500 by opening a Premier Checking account and then adding new deposits to their Premier Checking account, Premier Savings account, and/or Premier Relationship Savings account by December 31, 2025, and maintaining the new deposits through March 31, 2026.
Bonus amount is based on how much you deposit:
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$1,000 cash bonus: Add and maintain new deposits of $150,000 to $249,999
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$2,500 cash bonus: Add and maintain new deposits of $250,000 to $499,999
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$3,500 cash bonus: Add and maintain new deposits of $500,000+
You can also earn a $25 extra cash bonus when you register and log on to the HSBC US Mobile Banking App by December 31, 2025.
If all offer requirements are met, cash bonuses will be paid by May 31, 2026.
Read more: The 10 best national and super regional banks
Huntington National Bank Perks or Platinum Perks Checking: Up to $600 bonus
Available through January 15, 2026
Huntington National Bank customers who open a new checking account can qualify for one of two bonus tiers, depending on the account you open:
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$400 when you open a Perks Checking account and set up and receive a qualifying direct deposit of at least $500 within 90 days of account opening.
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$600 when you make cumulative new money deposits of $25,000 into a new Platinum Perks checking account within 90 days of account opening.
Be sure to include your unique offer code when opening an account. You must keep your account open for 90 days to earn a bonus. Once these requirements are met, you’ll receive your bonus within 14 days. Note that this offer is only available to applicants residing in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, North Carolina, Ohio, Pennsylvania, South Carolina, West Virginia, or Wisconsin.
PNC Bank Virtual Wallet: Up to $400 bonus
Available through December 8, 2025
PNC Bank currently offers a bonus of up to $400 for its combination checking (Spend) and savings account known as Virtual Wallet. This bonus is tiered based on the Virtual Wallet type and qualifying activities:
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Virtual Wallet: Earn $100 when you establish total qualifying direct deposits of $500 or more to the Spend account
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Virtual Wallet with Performance Spend: Earn $200 when you establish total qualifying direct deposits of $2,000 or more to the Spend account
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Virtual Wallet with Performance Select: Earn $400 when you establish total qualifying direct deposits of $5,000 or more to the Spend account
To qualify for the reward, the new Virtual Wallet product must be opened online and a qualifying direct deposit(s) must be received within the first 60 days. Your account must remain open in order for you to receive the reward, which will be credited to the eligible account within 60 to 90 days after all conditions have been met.
You will not be eligible for the offer if you or any signer on the new account has an existing PNC Bank consumer checking account, or have closed an account within the past 12 months, or if you have been a primary signer on a consumer checking account that has received a PNC promotional premium in the past 24 months.
Read our full review of PNC Bank
SoFi Checking and Savings Account: Up to $300 bonus
Available through January 31, 2026
Earn a bonus of up to $300 when you open a new SoFi online bank account. In order to qualify for the bonus, you must receive at least one direct deposit. The amount of your deposit will determine the bonus you will receive:
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Direct deposits totaling less than $999.99 do not qualify for a bonus
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Direct deposits totaling $1,000 to $4,999.99 earn $50
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Direct deposits totaling $5,000 or more earn $300
Once these requirements have been met, account holders will receive their bonus within seven business days of the end of the direct deposit bonus period, which begins when SoFi receives a direct deposit of $1 or more within the promotion period and ends 25 calendar days later.
Read our full review of SoFi
TD Bank Savings Accounts: Up to $200 bonus
Available through January 31, 2026
New savings account customers who open a TD Signature Savings account or TD Simple Savings account can earn a bonus of up to $200. You must deposit at least $10,000 within the first 20 days and maintain at least a $10,000 balance for 90 additional days from the 20th day after account opening. Bonuses are paid within 180 days of account opening.
Note: You will not qualify for the savings bonus if you are an existing TD Bank personal savings or money market Customer OR had a previous personal savings or money market account that was closed within the preceding 12 months OR have received a prior personal savings or money market account bonus at any time.
Read our full review of TD Bank
Wells Fargo Everyday Checking: $325 bonus
Available through January 14, 2026
New checking account customers can qualify for a bonus of $325 by opening a new Everyday Checking account online or in a branch with a minimum opening deposit of $25. You must receive a total of $1,000 or more in qualifying electronic deposits to your account within 90 calendar days of account opening. Once these qualifications are met, your bonus will be deposited into your new checking account within 30 days.
Read more: Chase Bank vs. Wells Fargo: Which big bank is best for you?
How do bank account bonuses work?
New bank account offers like bonuses are cash incentives for new customers who open bank accounts. In most cases, a bank will require that you meet certain requirements to qualify for a bonus.
These requirements vary from bank to bank but may involve a minimum amount in direct deposits within a certain period, minimum balance requirements, an account that remains in good standing throughout the promotional period, or signing up for other products in addition to your primary bank account.
Once you’ve met the requirements to earn a new bank account offer, you’ll receive your bonus in your account within a few days, in many cases. However, to discourage new customers from signing up for an account just to collect a bonus and then closing it, there may be penalties for closing your account within a certain number of days or months after receiving a bonus payout.
Up Next
Are bank account bonuses and promotions worth it?
Opening a new account to earn a cash bonus can be tempting, but these offers can come with a lot of fine print. Here are some of the major pros and cons to be aware of before you open a new account with a bank account bonus/promotion in mind:
Pros:
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It’s free money. No matter the amount, extra funds in your account can go a long way and give you some extra breathing room in your budget.
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Incentive to switch banks. If your current bank isn’t working for you, a promotional account bonus can be the incentive you need to switch banks and open a new account with better perks or lower fees.
Cons:
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Bonuses are taxable. Bank account bonuses are considered taxable income along with interest earned on your balance. This puts you on the hook for a potentially bigger bill come tax time.
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There may be extra requirements. Banks create these promotions to entice new customers to open an account and stick around. As such, getting that bonus may not be as simple as opening an account — you may need to meet a long list of requirements to qualify for the full bonus amount, and your bank may also put rules in place to make sure you don’t close your account right after your bonus payout.
What to consider when choosing a bank account bonus
If you're thinking about pursuing a new bank account bonus, there are several key factors to think about to ensure it's a good financial move:
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Bonus amount: Of course, the size of the new account bonus is a major factor to consider, especially compared to the requirements needed to qualify for the bonus.
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Minimum account balance: Some banks require that you maintain a minimum account balance to qualify for the bonus or to avoid monthly fees. If a minimum balance is required, be sure it won't strain your finances.
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Direct deposit requirements: Many bonuses require setting up a direct deposit of a certain amount within a specific timeframe. Ensure your regular income sources can be set up as direct deposit to meet these criteria.
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Transaction requirements: Some accounts might require a minimum number of transactions per month to qualify for the bonus, which should fit naturally with your spending habits.
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Monthly fees: You may want to avoid opening an account that charges monthly maintenance fees. If a certain account does come with monthly fees, see if these can be waived by meeting certain criteria like maintaining a minimum balance or having direct deposits.
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Account features: It's also important to look beyond the bonus and consider the features of the bank account itself. Does it offer benefits like free checks, ATM fee reimbursements, online banking, and a quality mobile app?
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Interest rates: Choosing an account that earns a higher interest rate can help your balance grow over time.
Frequently asked questions
How are bank account bonuses taxed?
Bank account bonuses are taxable. Your bank may send you a 1099-INT or 1099-MISC tax form ahead of tax time to make filing your taxes easier, although this may not always be true. In the event that you don’t receive a tax form, you should still report that bonus money as earned income to the IRS.
Can you close an account after receiving a bonus?
Typically, your financial institution will have rules in place around when you can close your account after collecting a bonus. If you close your account immediately after earning your cash bonus, you may be forced to pay a penalty or forfeit that bonus. Read your account’s terms and conditions to learn more about how closing your account will impact your bonus and when you may be able to do so without being penalized.
How long does it take to get a bank bonus?
The time it takes your bank to deposit your bonus will depend on the exact rules for that account, but you can usually expect to receive your bonus within a few business days after having satisfied the necessary eligibility requirements. You can always call your bank or read your account’s terms and conditions to learn more about your bonus and when you can expect a payout.
What are the requirements to qualify for a new account promotion?
New account promotions and bonus requirements vary by bank. Usually, you need to open an account before the bonus offer expires, then keep your account open for a minimum order of days (often 60) before the bonus is awarded. You may also need to meet additional conditions, such as maintaining a minimum balance or setting up direct deposit.
What bank gives you a bonus for opening an account?
Bank bonus offers come and go depending on which banks want to entice new customers to open an account. Some of the banks currently offering checking account bonuses include SoFi, Axos, Chase, Citi, Bank of America, and TD Bank.
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