Newest Bank Promotions, Bonuses and Offers: August 2020

Score some extra cash with one of these current bank promotions.

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.

To make the process easier, 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.

Read on to learn more about the best bank promotions for August 2020. You'll even find offers for business account bonuses that could jump-start your small business.

Best Bank Promotions: August 2020

August's top bank offers include some of the highest advertised bonuses for personal checking and savings accounts, business accounts and credit cards. You'll need to follow specific rules and requirements to earn the rewards, but most are pretty straightforward. Read on to learn about all of the promotions, divided by account type.

Best Checking Account Promotions

The following checking account bonus offers let new customers earn lucrative cash rewards. If you've been thinking about switching banks, August might be the ideal time. Keep reading for more details.

Flushing Bank Complete Checking Account Promotion: Up To $700 Bonus

New York residents looking for a new bank should consider Flushing, a full-service community bank that offers business and personal accounts, credit cards and loans. You don't need a Flushing Bank coupon to earn up to $700 with this promotion. Here are the details:

  • Cash value: Up to $700
  • Minimum deposit to qualify: $25
  • Expiration date: None
  • How to get it: Open a Complete Checking account at a local branch and keep a three-month average balance that falls in one of the following ranges to earn a bonus:
    • $1,000 to $4,999: $210
    • $5,000 to $9,999: $250
    • $10,000 to $14,999: $300
    • $15,000 to $24,999: $350
    • $25,000 to $49,999: $450
    • $50,000 and up: $700
  • When you'll get it: The month after meeting the three-month requirement
  • 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: None
  • Promotion page: Flushing Bank Complete Checking bonus offer

TD Bank Beyond Checking Promotion: $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
  • Minimum deposit to qualify: None
  • Expiration date: None
  • 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 95 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
  • Promotion page: TD Beyond Checking bonus offer

Dollar Bank Everything Checking Account Promotion: Up To $400 Bonus

Dollar Bank has branches in Ohio, Pennsylvania and Virginia. You can earn a $400 bonus when you open an Everything Checking account and fulfill a few other qualifying activities. Here are the details:

  • Cash value: Up to $400
  • Minimum deposit to qualify: None
  • 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, you must make at least $5,000 in direct deposits during the first 90 days. You'll get the final $100 bonus after your one-year anniversary of opening the account.
  • When you'll get it: Within 40 days after each condition is met
  • 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: None
  • Promotion page: Dollar Bank Everything Checking bonus offer

Huntington 5 Checking Account Promotion: $200 Bonus

To earn this bonus from Huntington, you'll need to be a resident of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania or West Virginia and sign up online. Here's more:

  • Cash value: $200
  • Minimum deposit to qualify: $1,000
  • Expiration date: Oct. 7
  • How to get it: Open a checking account and deposit at least $1,000 within 60 days, then keep the account open for at least 90 days.
  • When you'll get it: Within 14 days after meeting the conditions
  • Terms and conditions: The Huntington coupon code will automatically be applied during the online application process. You must be a new personal checking customer.
  • Monthly fees: $5, but waived if you maintain at least $5,000 in combined accounts
  • Promotion page: Huntington 5 Checking bonus offer

Chase Total Checking Account Promotion: $200 Bonus

Chase's latest promotion pays you $200 for opening a Total Checking account and setting up direct deposits. The bank's promotions change regularly, so if you like one, don't delay on taking advantage of it. Here are more details:

  • Cash value: $200
  • Minimum deposit to qualify: None
  • Expiration date: Oct. 14
  • How to get it: Open a new Total Checking account and set up direct deposits. No Chase coupons or codes are required.
  • When you'll get it: Within 10 days after setting up direct deposit
  • Terms and conditions: For new customers only
  • Monthly fees: $12, but waived if you maintain a $1,500 balance, receive $500 in direct deposits or keep a combined balance of $5,000 between accounts
  • Promotion page: Chase Total Checking bonus offer

Wintrust Total Access Checking Promotion: $300 Bonus

Wintrust serves customers in Illinois and Wisconsin. You can earn $300 when you open a checking account online. Here are more details:

  • Cash value: $300
  • Minimum deposit to qualify: $100
  • 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 during the qualifying period.
  • When you'll get it: Within 60 days after meeting the balance requirements
  • Terms and conditions: No Wintrust bank coupons are required.
  • Monthly fees: None
  • Promotion page: Wintrust Total Access Checking bonus offer

Best Savings Account Promotions

Everyone should have an emergency savings fund to get through challenging times. The following promotion, which includes a $200 savings account bonus, can help jump-start your savings.

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

SFCU membership is open to those who live in California's Stanford/Palo Alto area or work for Google, Facebook, Verizon Media or Stanford University. You can earn up to $500 by using SFCU coupon code NEWMB and meeting different requirements. Here's how:

  • Cash value: Up to $500
  • Minimum deposit to qualify: $5
  • Expiration date: None
  • How to get it: Open a checking account and receive at least $500 per month in direct deposits to earn a $100 bonus. Next, open a money market or savings account with at least $25,000 to earn another $200. For an additional $100, open a rewards credit card and spend at least $500 per month the first three months. To get the final $100 bonus, make at least 20 debit card purchases per month for three months.
  • When you'll get it: After meeting each requirement
  • Terms and conditions: The savings account must be funded within 30 days of opening it.
  • Monthly fees: None
  • Promotion page: Stanford Federal Credit Union new member offer

Best Business Account Promotions

There's no better time to shop around for a bank account for your small business. Here's how you can earn a $750 business account bonus.

Huntington Business Checking Account Promotion: Up To $750 Bonus

You can earn between $200 and $750 as a new business checking account bonus from Huntington, depending on your opening balance. Here are the details:

  • Cash value: Up to $750
  • Minimum deposit to qualify: $2,000
  • Expiration date: Oct. 7
  • How to get it: Deposit at least $20,000 to earn $750, get $400 with a minimum opening deposit of $5,000, or earn $200 with a minimum opening deposit of $2,000.
  • When you'll get it: Within 14 days after meeting conditions
  • Terms and conditions: The bonus is available for new business account holders only. Request a Huntington coupon, make the minimum deposit required within 60 days of opening the account and keep it open for 90 days.
  • Monthly fees: $0 to $40, but can be waived by maintaining minimum account balances
  • Promotion page: Huntington business checking account bonus offer

Best Credit Card Promotions

Combining the bank promotions above 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, so if needed, take steps to bump up your credit score before you apply.

US Bank Altitude Reserve Visa Infinite Card Promotion: $750 Cash Value

If you travel a lot, the Altitude Reserve Visa from U.S. Bank is a good option. The bank is currently awarding new cardholders with 50,000 bonus points worth $750. Here's what you need to know:

  • Cash value: $750 (based on 50,000 points)
  • Minimum spend to qualify: $4,500
  • Expiration date: None
  • How to get it: Apply and get approved for the card and then make $4,500 in purchases in 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 U.S. bank relationship and subject to credit approval. No U.S. Bank coupon or promo code is required.
  • Annual fee: $400
  • Promotion page: U.S. Bank Altitude Reserve Visa Infinite Card bonus offer

BBVA Select Credit Card Promotion: $500 Cash 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 (based on 50,000 bonus points)
  • Minimum spend to qualify: $4,000
  • Expiration date: None
  • How to get it: Apply and get approved for the card and 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, but waived the first year
  • Promotion page: BBVA Select Credit Card bonus offer

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

Information on promotions is accurate as of August 6, 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.

About the Author

Cynthia Bowman

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.

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