Best New Bank Promotions in California: January 2021 Offers, Coupons and Bonuses

California bank promotions

Banks regularly run promotions to attract new customers. They want your business and will pay you money when you choose to do your banking with them. You can make hundreds just by signing up for a new account and meeting a few additional requirements. And with the current state of the economy, the extra cash can be helpful.

These California bank promotions highlight some of the best offers available right now in the Golden State. They made the list because they are lucrative and have requirements within reach for many customers.

Checking Account Promotions

To take full advantage of these best checking account promotions in California, you have to meet certain deposit requirements. In most cases, you’ll need to receive direct deposits to qualify.

HSBC Premier Checking Welcome Deposit: $450 Bonus

The Premier Checking account is HSBC’s top-tier checking account. Account holders receive perks like Global View as well as special mortgage rates and ATM rebates. New customers can earn a lucrative bonus when they open a new account and meet deposit requirements. Here’s how:

  • Cash value: $450
  • Minimum deposit to qualify: $15,000
  • Expiration date: March 31
  • How to get it: Open an HSBC Premier Checking account and receive direct deposits of at least $5,000 for three consecutive months.
  • When you’ll get it: Within eight weeks of meeting the requirements
  • Terms and conditions: Qualifying direct deposits include those from payroll, Social Security, pension or government benefits. Offer is limited to individuals with a U.S. Social Security number. Customers who held any HSBC consumer deposit account from Jan. 8, 2018, through Jan. 7, 2021, are not eligible.
  • Monthly fees: $50, but can be waived by maintaining a combined minimum balance of $75,000 or monthly direct deposits of at least $5,000.
  • Promotion page: HSBC Premier Checking Welcome Deposit bonus offer
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HSBC Advance Checking Welcome Deposit: $200 Bonus

HSBC’s Advance Checking account comes with four ATM rebates each month and preferred mortgage rates. New customers can also earn a welcome deposit bonus similar to the one offered for the Premier Checking account. Here’s more:

  • Cash value: $200
  • Minimum deposit to qualify: $1,500
  • Expiration date: March 31, 2021
  • How to get it: Open a new Advance Checking account and receive direct deposits totaling at least $500 for three consecutive months from the second full calendar month of account opening.
  • When you’ll get it: Within eight weeks of meeting the requirements
  • Terms and conditions: Qualifying direct deposits include payroll, Social Security, pensions and government benefits. You must be at least 18 years old and have a Social Security card to apply.
  • Monthly fees: $25, but can be waived by maintaining combined account balances of $5,000 or receiving at least one monthly recurring direct deposit of any amount.
  • Promotion page: HSBC Advance Checking Welcome Deposit bonus offer

Chase Total Checking Account: $200 Bonus

Chase offers convenience with branches throughout California. New customers who open a Chase Total Checking account can also earn some bonus cash for a limited time. Here are the details for this best checking account bonus.

  • Cash value: $200
  • Minimum deposit to qualify: Any direct deposit
  • Expiration date: April 14
  • How to get it: Open an account and receive a direct deposit of your paycheck, pension or government benefits within 90 days of coupon enrollment.
  • When you’ll get it: Within 15 business days of meeting the requirements
  • Terms and conditions: Peer-to-peer payments and Zelle do not count as direct deposits.
  • Monthly fees: $12, but can be waived by maintaining a minimum daily balance of $1,500 or meeting a direct deposit requirement of $500 monthly.
  • Promotion page: Chase Total Checking bonus offer
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Christian Community Credit Union Checking: $200 Bonus

Christian Community Credit Union offers two checking accounts: Free Checking and Checking Plus. Both accounts come with features like a Visa debit card, overdraft protection and access to a large ATM network. New members can earn a $200 bonus when they open an account. Here’s how to earn it:

  • Cash value: $200
  • Minimum deposit to qualify: $300
  • Expiration date: None
  • How to get it: Open a new checking account with at least $100, sign up for e-statements within 60 days and receive a direct deposit of at least $200 from an employer, pension or government agency within 60 days.
  • When you’ll get it: Within 60 days after meeting the requirements
  • Terms and conditions: For new customers only; the first direct deposit must be received within 60 days of opening the account
  • Monthly fees: $0 to $10, but can be waived with a $1,500 minimum daily balance.
  • Promotion page: Christian Community Credit Union checking account bonus offer

Savings Account Promotions

One of the best savings account promotions in California requires a checking and savings account as well as a substantial deposit. However, you’ll be rewarded with a lucrative bonus for your efforts.

Citi Priority Account Package: $700 Bonus

If you have plenty of money to deposit, you can earn $700 by opening a checking and savings account with Citi. Here’s how:

  • Cash value: $700
  • Minimum deposit to qualify: $50,000
  • Expiration date: April 1
  • How to get it: Open an eligible checking and savings account, and then deposit $50,000 within the next 30 days. Maintain the minimum balance for at least 60 consecutive calendar days.
  • When you’ll get it: Within 90 days after meeting the requirements
  • Terms and conditions: The offer is available to customers who have not been a signer on a Citibank checking account in the past 180 days.
  • Monthly fees: $30, but can be waived if you maintain a $50,000 combined balance among all accounts.
  • Promotion page: Citi Priority Account Package bonus offer

Business Account Promotions

If you’re looking for the best business account promotions in California, look no further. This month, you can cash in on a bonus for opening a new account.

Chase Business Complete Banking: $300 Bonus

With Chase Business Complete Banking, you get low-fee checking along with Chase QuickAccept for accepting card payments from customers. This package includes options for accepting and sending wire transfers, access to online bill pay and more. New customers have the chance to earn $300 when they open an account and meet requirements. Here’s how:

  • Cash value: $300
  • Minimum deposit to qualify: $2,000
  • Expiration date: April 15
  • How to get it: Open a new Chase Business Complete Checking account using your offer code, which you can request via the promotion page. Deposit at least $2,000 within 30 days and keep at least $2,000 in the account for the next 60 days. You also need to complete five qualifying transactions.
  • When you’ll get it: Within 15 days of meeting the requirements
  • Terms and conditions: Debit card purchases, deposits made via Chase QuickAccept and Chase QuickDeposit, ACH (credits) and wires (debits and credits) count as qualifying transactions.
  • Monthly fees: $15, but balance can be waived with actions like maintaining a $2,000 minimum daily balance or linking a Chase Private Client Checking account.
  • Promotion page: Chase Business Complete Banking bonus offer

Bank of America Business Advantage Cash Rewards Credit Card: $300 Bonus

With this card, you can earn 3% cash back in the category of your choice, 2% back on dining and 1% for everything else. Additional perks include no annual fee and an introductory APR for nine billing cycles. There’s also a bonus statement credit worth $300 when you meet certain requirements. Here’s more:

  • Cash value: $300
  • Minimum spend to qualify: $3,000
  • Expiration date: None
  • How to get it: Make at least $3,000 in net purchases within the first 90 days of account opening.
  • When you’ll get it: 10 to 12 weeks after qualifying
  • Terms and conditions: Net purchases don’t include transaction fees, returns or adjustments.
  • Annual fee: None
  • Promotion page: Bank of America Business Advantage Cash Rewards bonus offer

Choosing the Best Bank Promotions

A special promotion shouldn’t be the only reason you choose a bank, but that also doesn’t mean you shouldn’t cash in when you can. Plenty of bank promotions in California are available right now that allow you to pocket some extra money. Just make sure the California bank is convenient to use and offers products and services that meet your financial needs.

Information on promotions is accurate as of Jan. 19, 2021. 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.

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

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.

Best New Bank Promotions in California: January 2021 Offers, Coupons and Bonuses
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