Failing to do your research before opening a new bank account can be costly — banks habitually offer perks like cash incentives for opening accounts and cash back on qualified purchases. Depending on your spending habits and account minimum, there might be bank promotions that benefit you with a quick few hundred dollars.
The following list of nine current bank promotions is updated monthly and contains the best offers available this March. Read on to learn more about these special bank offers — some of which are free and require no minimum deposit.
- Bonus Miles Offers
- $1,000 Bonus Offers
- $400 to $500 Bonus Offers
- $300 to $360 Bonus Offers
- $200 Bonus Offers
Bonus Miles Offers
Although banks more commonly offer cash bonuses in connection with opening savings and checking accounts, other incentives — such as airline miles — are available.
The BankDirect Mileage Checking With Interest Account earns you a healthy allowance of American Airlines AAdvantage miles. Both new and current AAdvantage members can earn miles.
BankDirect Mileage Checking With Interest Account Bonus Requirements and Limitations:
- 1,000 miles at account opening
- 10,000 miles for direct deposits received over six consecutive statement cycles, at a minimum of $2,000 per month
- 5,000 miles for using the online bill pay service for at least three payees, totaling $500 per month for six consecutive statement cycles
- 5,000 miles for 12 transactions with the BankDirect Visa CheckCard totaling $500 per month for six consecutive statement cycles
- 1,000 miles for referring a friend who opens an account; lifetime maximum of 10,000 miles for referrals
- $500 minimum to open
$1,000 Bonus Offers
Citizens Bank CollegeSaver Account: $1,000 Bonus
With as little as $25, you can set your child up for a nice payoff on their 18th birthday. Plus, interest applies to the entire savings balance. But this lucrative deal is only available in select states.
Citizens Bank CollegeSaver Account Bonus Requirements and Limitations:
- Must open CollegeSaver account before child’s 12th birthday
- $25 minimum opening deposit for children under 6 years of age; $500 minimum deposit for children ages 6 to 12
- Must contribute minimum required amounts each year: $25 annually for accounts opened for children under 6 years of age; $50 annually for accounts opened for children between 6 and 12 years of age
- $1,000 bonus plus interest awarded on child’s 18th birthday
$400 to $500 Bonus Offers
Fidelity Bank Checking Account: $500 Bonus
You’ll have to meet several requirements to earn a $500 bonus from Fidelity Bank, but they’re all relatively easy to achieve. Only new personal checking account customers are eligible for this bonus.
Fidelity Bank Checking Account Bonus Requirements and Limitations:
- Minimum opening deposit between $25 and $500, depending on the type of checking account chosen
- Must receive $3,000 in direct deposits or recurring credits each month for three consecutive months
- Must sign up for EZ statements
- Must use debit card five times per month for three consecutive months
- Must meet requirements within 150 days of account opening
- Limited-time offer
Wells Fargo Everyday Checking Account: $400 Bonus
New Wells Fargo checking customers are eligible for this $400 welcome deposit bonus. The catch is that the offer is limited to participating locations. If you’re eligible to open your account online, the promo code will be automatically applied when you complete your online application.
Wells Fargo Everyday Checking Account Bonus Requirements and Limitations:
- Minimum opening deposit of $25
- Account must receive $4,000 in qualifying direct deposits each month for three consecutive months within 90 days of opening the account
- Teen Checking, Greenhouse accounts and Wells Fargo EasyPay Card not eligible for this offer
- Must not have received a bonus for opening a Wells Fargo consumer checking account within past 12 months
- Offer expires July 31
See More: Wells Fargo Promotions
$300 to $360 Bonus Offers
Discover Cashback Debit Checking Account: $360 Bonus
Earn up to $360 annually with this Discover checking account that rewards you for debit card purchases. With no monthly fee and no balance or activity requirements, getting this bonus should be easy.
Discover Cashback Debit Checking Account Bonus Requirements and Limitations:
- No minimum deposit required
- 1% cash-back rewards rate
- Maximum $3,000 of debit card purchases each month are eligible for rewards
- ATM transactions, money order purchases, cash back at point-of-sale transactions, peer-to-peer transactions, loan funding and account payments not eligible for rewards
- Cash-back bonus rewards based on debit card purchases rounded to the nearest dollar
See More: Discover Bank Promotions
HSBC Advance Checking Account: 2% Cash Back — Up to $350 Bonus
Eligibility for this HSBC bonus means that you can’t have held a consumer deposit or investment account with the bank from Jan. 6, 2017, to Jan. 6, 2020. You’ll earn 2% cash back on qualifying direct deposits, up to $30 per month, with a total bonus amount of up to $350.
HSBC Advance Checking Account Bonus Requirements and Limitations:
- $1 minimum opening deposit required
- HSBC Advance checking account must be opened online at the HSBC offer page
- Set up recurring direct deposits from an outside party that occur once per month for at least 12 consecutive months following month account is opened
- Offer expires March 29
Chase Total Checking and Chase Savings Account: $350 Bonus
With nearly 5,000 branches and more than 16,000 ATMs nationwide, Chase is a reliable source of banking. The $350 bonus offer could be worth it if you’re looking for a new bank to route direct deposits and you have substantial funding to open a new savings account.
Chase Total Checking and Chase Savings Account Bonus Requirements and Limitations:
- $200 bonus for opening Chase Total Checking account and receiving a direct deposit within the first 90 days
- $150 bonus for opening Chase Savings account and depositing at least $10,000 within first 20 business days of account opening; must maintain $10,000 minimum balance for 90 consecutive days
- Bonuses not available to existing Chase customers or customers with fiduciary accounts
- Bonuses not available to people who have closed accounts within past 90 days or closed accounts with a negative balance
- Bonus amount deducted at the time of closing for accounts closed within six months of opening
- Offer expires April 20
See More: Chase Promotions
TD Bank TD Beyond Checking Account: $300 Bonus
With nearly 1,300 locations along the East Coast, TD Bank has a wide network. The $300 bonus offer is only open to new customers who have never held a TD Bank checking account.
TD Bank TD Beyond Checking Account Bonus Requirements and Limitations:
- Offer applies to TD Beyond Checking account only
- Account must be opened from the offer page
- Must make cumulative direct deposits of at least $2,500 within 60 days of account opening
- Monthly maintenance fee of $25 waived if a $2,500 daily balance is maintained
See More: TD Bank Promotions
$200 Bonus Offers
Huntington 5 Checking Account: $200 Bonus
Huntington is offering U.S. customers in select states a $200 bonus for opening a Huntington 5 Checking account. All balance tiers earn 0.10% annual percentage yield.
Huntington 5 Checking Account Bonus Requirements and Limitations:
- New checking customers only; not available to anyone who has closed a Huntington checking account within the previous six months
- Available to residents of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania or West Virginia
- $5 monthly maintenance fee waived with $5,000 in balances
- Must deposit at least $1,000 in external funds in first 60 days
- Must have an account open for at least 90 days to receive bonus
- Expires April 7
See More: Huntington Bank Promotions
Be sure to carefully evaluate the terms and conditions of these promotional offers so you can get the biggest bonus when you open a new account. Balance requirements and APYs vary between institutions and account types. Some accounts carry monthly fees and maintenance costs, so make sure to read the fine print.
Key elements to look for are the requirement terms like the number of deposits or charges per month to qualify. Be wary of promotional tactics using phrasing like “earn up to …” This is a common marketing tactic to display a large number — APY or cash bonus — upfront without immediately disclosing potentially exorbitant requirements such as $20,000 of activity in the account in a month to qualify.
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More Bank Promotions
- New Checking Account Bonuses
- Ally Bank Promotions
- Bank of America Promotions
- Capital One Promotions
- Chase Promotions
- CIT Bank Promotions
- Citibank Promotions
- Discover Bank Promotions
- Huntington Bank Promotions
- Keybank Promotions
- PNC Bank Promotions
- Regions Bank Promotions
- Synchrony Bank Promotions
- TD Bank Promotions
- U.S. Bank Promotions
- Wells Fargo Promotions
Arielle Moscati contributed to the reporting for this article.
Information on promotions was sourced from banks’ websites on Feb. 19, 2020. Additional requirements may apply. Offers, terms and rates are subject to change.
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