9 Best New Bank Promotions and Bonuses: March 2020

See the top bank promotions available now.

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.

Here are the top nine bank account promotions available during March:

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.

BankDirect Mileage Checking With Interest Account: 22,000 Bonus Miles

BankDirect logo 2017

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.

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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

Related: The Best Airline Rewards Programs With Points You Can Actually Use

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$1,000 Bonus Offers

Only one bank account offer qualifies for this section in March. Earning this $1,000 bonus won’t happen overnight — or even in a few years — but it’ll pay off nicely if you’re patient.

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

Check Out: VIP Private Banking Services You Never Knew Existed

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$400 to $500 Bonus Offers

This month, two offers are available in the $400-$500 category. Read on to find out how you can take advantage of these opportunities to earn cash for free.

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

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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

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$300 to $360 Bonus Offers

A handful of banks are offering checking account promotions featuring bonuses of up to $360 through March. Some of the bank offers are only available in select markets.

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:

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  • 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

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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

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Chase

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

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TD Bank logo 2017

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

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$200 Bonus Offers

Score a $200 bonus via this checking account promotion valid through early April. But you’ll have to qualify to apply.

Huntington Bank logo 2017

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

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    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.

    More From GOBankingRates

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    Arielle Moscati contributed to the reporting for this article.

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    Information on promotions was sourced from banks’ websites on Feb. 19, 2020. Additional requirements may apply. Offers, terms and rates 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 GOBankingRates 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 Measom is a Texas-based writer specializing in finance, business, parenting and education. With almost a decade of online writing experience, her work has appeared on websites such as Chron.com, The Bump and The Motley Fool. Measom received a Bachelor of Arts in English from the University of Texas at Austin.