Newest Bank Promotions, Bonuses and Offers: October 2020

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Banks regularly offer cash bonuses and other promotions to attract new customers, but not many people take advantage of these opportunities. A GOBankingRates survey found that most respondents aren’t aware of the deals banks offer and end up missing out on free money.

GOBankingRates reviewed more than 50 banks in the U.S. in search of the best deals. The savings and checking account bonus offers that made the final list were chosen based on their high cash values and how easy the rewards are to earn.

Bank Promotions at a Glance

The best bank promotions for October include bonuses for credit cards and new checking and savings accounts. Here’s a quick look at what’s being offered.

Best Bank Promotions: October 2020
Account Cash Value of Bonus Expiration Date
Flushing Bank Complete Checking Up to $700 N/A
TD Bank Beyond Checking $300 N/A
Dollar Bank Everything Checking Up to $400 Dec. 31
Wintrust Total Access Checking $300 Dec. 31
Stanford Federal Credit Union New Member Up to $500 N/A
US Bank Altitude Reserve Visa Infinite Card $750 N/A
BBVA Select Credit Card $500 N/A

Best Bank Promotions: October 2020

October’s top bank offers include some of the highest advertised bonuses for personal checking and savings accounts, business accounts and credit cards. However, you’ll have to meet certain requirements to earn these rewards. Read the details carefully.

Best Checking Account Promotions

If you’re looking for a new bank, take a closer look at these checking account promotions. Open a new account, meet the requirements and earn a lucrative checking account bonus.

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Flushing Bank Complete Checking Account: Up To $700 Bonus

New York residents looking for a new bank should consider Flushing Bank. Its Complete Checking account has no fees or monthly minimum balance requirements. It also gives you access to the bank’s Customer Value Program and a combined bonus worth up to $700. Earn bonuses totaling $200 just for using your account. Earn an additional bonus based on your account’s three-month average balance.

Here are the details:

  • Cash value: Up to $700
  • Expiration date: N/A
  • How to get it:
    • To earn the Costumer Value Program Activation Bonus, receive two direct deposits totaling $250 each to earn $100; complete five debit card transactions to earn $5; complete five bill payments to earn an additional $50; The Customer Value Program Balance Bonus is based on the account’s three-month average balance and ranges from $10-$500.
  • When you’ll get it: CVP Activation Bonus will be credited at the end of the month following completion of qualifying activities; CVP Balance Bonus will be credited the month following the account’s three-month anniversary.
  • Terms and conditions: The bonus is forfeited if the account is closed in less than six months, and it is not available to current checking account holders.
  • Monthly fees: N/A
  • Promotion page: Flushing Bank Complete Checking bonus offer

TD Bank Beyond Checking: $300 Bonus

TD Bank provides online checking and high-yield savings accounts. This checking account bonus gets you $300 for meeting the direct deposit requirement. Here are the complete terms:

  • Cash value: $300
  • Expiration date: N/A
  • How to get it: Open an account online and receive at least $2,500 in direct deposits during the first 60 days.
  • When you’ll get it: Within 140 days of opening the account and meeting the terms
  • Terms and conditions: This offer is available to new customers only. No TD Bank coupon is required.
  • Monthly fees: $25, but can be waived by keeping a $2,500 minimum daily balance, receiving at least $5,000 per month in direct deposits or maintaining a combined balance of $25,000 across TD Bank accounts
  • Promotion page: TD Beyond Checking bonus offer

Dollar Bank Everything Checking Account: Up To $400 Bonus

Dollar Bank has branches in parts of Pennsylvania, Virginia and Ohio. Earn a $400 bonus when you open an Everything Checking account and participate in the bank’s Workplace Banking program. Here are the details:

  • Cash value: Up to $400
  • Expiration date: Dec. 31
  • How to get it: Open an account online or in person and receive at least $1,000 in direct deposits within the first 90 days to earn $100. To earn the next $200, make at least $5,000 in direct deposits during the first 90 days. You’ll get the final $100 bonus following the account’s one-year anniversary.
  • When you’ll get it: The first $100 and $200 bonus will be credited 40 days after each direct-deposit condition is met; the additional $100 bonus will be credited within two months of the account’s one-year anniversary.
  • Terms and conditions: The offer is available to new customers and Dollar Bank Workplace Banking members only. A Dollar Bank coupon is required.
  • Monthly fees: N/A
  • Promotion page: Dollar Bank Everything Checking bonus offer

Wintrust Total Access Checking: $300 Bonus

Wintrust serves customers in Chicago, northwest Indiana and southern Wisconsin. Earn $300 when you open a Total Access Checking account online. Here are more details:

  • Cash value: $300
  • Expiration date: Dec. 31
  • How to get it: To earn $300, open a checking account online, enroll in online banking and receive at least $500 per month in direct deposits for two consecutive months.
  • When you’ll get it: Within 30 days after meeting the balance requirements
  • Terms and conditions: The offer is available for new accounts opened between April 1 and Dec. 31. It is not available to existing or closed checking customers; limit one bonus per customer.
  • Monthly fees: N/A
  • Promotion page: Wintrust Total Access Checking bonus offer

Best Savings Account Promotions

A savings account is a great place to keep your emergency fund or set aside money to pay for big-ticket items. Get a boost on your savings with a savings account bonus through one of these offers.

Stanford Federal Credit Union New Member: Up To $500 Bonus

SFCU membership is open to those who live in California’s Stanford/Palo Alto area or work for partner companies, such as Google, Facebook, Verizon Media or Stanford University. You can earn up to $500 by using SFCU coupon code NEWMB and meeting different requirements. Best of all, you can mix and match the current offers to customize your bonus. Here’s how:

  • Cash value: Up to $500
  • Expiration date: N/A
  • How to get it: Open a checking account and receive at least $500 per month in direct deposits to earn $100. Next, open a money market or savings account with at least $25,000 to earn another $200. Open a rewards credit card and spend at least $500 per month the first three months for $100. To get the final $100 bonus, make at least 20 debit card purchases per month for three months.
  • When you’ll get it: Within 30 days of meeting requirements
  • Terms and conditions: The offers are available only to new members. New members must meet membership eligibility requirements.
  • Monthly fees: N/A
  • Promotion page: Stanford Federal Credit Union new member offer

Best Credit Card Promotions

Combining a bank promotion with one of the following credit card promotions can help you maximize your bonus earnings. You’ll need good credit to get approved for the cards. If needed, take steps to bump up your credit score before you apply.

US Bank Altitude Reserve Visa Infinite Card: 50,000 Bonus Points ($750 Value)

If you travel a lot, the Altitude Reserve Visa from US Bank is a good option. The bank is currently awarding new cardholders with 50,000 bonus points worth $750. You also can earn up to $325 in reimbursements to offset the annual fee. Here’s what you need to know:

  • Cash value: $750
  • Minimum spend to qualify: $4,500
  • Expiration date: N/A
  • How to get it: Apply and get approved for the card and then make $4,500 in purchases within the first 90 days after approval.
  • When you’ll get it: Within one to two billing cycles after meeting the requirements
  • Terms and conditions: This offer is for new cardholders with an existing US bank relationship and subject to credit approval. No US Bank coupon or promo code is required.
  • Annual fee: $400
  • Promotion page: US Bank Altitude Reserve Visa Infinite Card bonus offer

BBVA Select Credit Card: 50,000 Bonus Points ($500 Value)

You can earn up to quadruple points on purchases, which you can redeem for cash or free travel, with this top-tier credit card from BBVA. If you’ve been shopping for a new rewards credit card, take a look at the terms for this one:

  • Cash value: $500
  • Minimum spend to qualify: $4,000
  • Expiration date: N/A
  • How to get it: Apply and get approved for the card; then, spend $4,000 in the first 90 days.
  • When you’ll get it: Not specified
  • Terms and conditions: Offer available to residents of Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. No BBVA coupon code is required.
  • Annual fee: $99, waived the first year
  • Promotion page: BBVA Select Credit Card bonus offer

Is It Time To Switch Banks?

Bank bonuses and promotional offers are great incentives, but they should not be the only reason to choose a bank. Select the bank that provides the products and services you need to meet your financial goals. Finding a bank that offers what you need and a promotion, however, will give you the best of both worlds.

This article has been updated with additional reporting since its original publication.

Information on promotions was sourced from banks’ websites on September 22, 2020. Additional requirements may apply. Offers and terms are subject to change.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.

Editorial Note: 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.

About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

Newest Bank Promotions, Bonuses and Offers: October 2020
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