Where can I find a bank that gives away money for opening an account: Opening a bank account would be nice if we got a bonus. The first step is to determine which banks offer money for opening an account.
In general, bank promotions consist of cash bonuses when you open a new checking or savings account. You’ll likely have to set up direct deposit with your bank and keep the account open for at least a few months to qualify for this one-time perk.
Any decision to open a new bank account may also be influenced by other factors. Despite this, it’s almost impossible to ignore the benefits of getting an account opening bonus. Don’t you agree?
To illustrate this point, we will highlight some banks from the U.S. that offer money when you open a new account (checking or savings).
What Are Some Rules That Apply to Bank Account Bonuses?
When you open a new account, you may be able to earn a cash bonus by:
- A minimum deposit should be made.
- Accounts should remain open for a reasonable amount of time.
- Direct deposits should be made at least monthly.
- Minimum balances should be maintained.
- You need to wait weeks or months before receiving your bonus.
- You can open an account online or in a branch.
- Make sure to use the promo code.
- Pay account maintenance fees, which may be waived if you complete specified account activities. Fees can be as high as $50 per month.
As cash incentives are considered a form of interest, you may owe income tax on the bonus as well.
Keep Reading: How to Deposit a Check by Phone with Bank of America
Which banks offer money for opening an account?
Don’t miss the list below that shows which banks give away money for opening an account. No matter what you decide, make sure you thoroughly review each of these entities and decide which suits you best.
Chase Bank[Chase Total Checking®: $200 bonus offer]
In the United States, JPMorgan Chase Bank is the largest bank. Chase Bank has been offering a huge bonus to users who open a direct deposit checking account since it opened in 2000 after previously being known as the Bank of Manhattan.
Those who qualify will receive a bonus of $200. Sadly, the bonus is unavailable to people with negative balances, current Chase customers, and those who recently closed their accounts. You should be aware that the checking account includes a monthly service charge of $12. No matter how you slice it, a $200 bonus is quite nice.
What you’ll get: $200.
How to get it: With a coupon emailed to you through the promotional page, you can open a Chase Total Checking® account online or in person. In order to qualify for the account, a direct deposit must be made within 90 days of opening. Accounts must remain open for six months to receive the bonus. Otherwise, the bonus will be deducted at closing.
Where to open: Accounts can be opened online or in person at a Chase branch (find a location near you).
Who can qualify: All new Chase checking customers. You must not have had a Chase checking account within the last 90 days or closed one with a negative balance. Additionally, you can only receive one new checking account opening bonus every two years from your last enrolment date, and you can only receive one bonus per account.
When you’ll get it: Your bonus will be credited to your account within 15 days of your first direct deposit.
- Monthly fee: $12, which can be avoided by having a direct deposit of $500 or more, a minimum daily balance of $1,500, or keeping an average daily balance of $5,000 in qualifying Chase bank accounts.
HSBC[HSBC Premier Checking: $500 bonus offer]
With HSBC, you can open a first-class checking account for $ 475 and get an even larger bonus than Chase Bank. In order to receive the bonus, you must maintain a minimum balance of $ 5,000 in a premier checking account for three full months.
Vouchers themselves are delivered to beneficiaries for a period of 12 months. However, direct deposits are also required for this option.
What you’ll get: $500.
How to get it: Customers who open a first HSBC Premier Checking account on the offer page will receive a $500 Welcome Deposit. Making recurring deposit(s) from a third party into your HSBC Premier Checking account(s) totalling at least $10,000 a month for three consecutive calendar months starting from your second full month following account opening. You must have an active HSBC account and not have switched to a lower balance requirement product to be eligible for the bonus.
Where to open: Online.
- Who can qualify: Consumers who receive this offer are not eligible for any other newly acquired customer offers provided by HSBC during the period between August 31, 2018 and August 31, 2021. To apply for a deposit account online, you must also have resided in the United States for the past year.
- When you’ll get it: After completing all qualifying activities, you will automatically receive the $500 Welcome Deposit in your new HSBC Premier Checking account approximately eight weeks after opening it.
Monthly fee: The $50 fee can be avoided by having at least $75,000 in deposit and investment accounts with HSBC, receiving recurring third-party direct deposits of at least $10,000 per calendar month into your account, or having a residential mortgage loan with an origination amount of at least $500,000.
Bank of America M&T[$100 bonus offer]
You can currently receive a bonus of $ 250 for opening a checking account and $ 100 for opening a savings account at M&T Bank . Only a deposit of $ 500 is required to open the checking account within 90 days. Alternatively, if you are saving, you are required to keep a balance of at least $ 5,000 or more each month.
What you’ll get: $100.
How to get it: On the offer page, you can open a Bank of America Advantage SafeBalance Banking®, Bank of America Advantage Plus Banking®, or Bank of America Advantage Relationship Banking® checking account. When enrolling, use the code DNL100CIS. You need to deposit $25 to open an Advantage SafeBalance account or $100 to open an Advantage Plus or Advantage Relationship account. You must receive qualifying direct deposits of at least $1,000 within 90 days of opening the account. If your account is in good standing, you will qualify for the bonus. There are additional terms and conditions. For more information, visit the offer page.
Where to open: Online.
- Who can qualify: Only new checking customers can take advantage of this offer. Within the last 12 months, you cannot have owned or co-owned a Bank of America personal checking account. Fiduciary accounts are not eligible.
- When you’ll get it: Within 60 days of meeting all of the requirements.
- Monthly fee:
- Bank of America Advantage SafeBalance Banking®: $4.95, if you’re part of our Preferred Rewards program. Account holders under 18 and students under 25 enrolled in school or an educational or vocational program are not charged a monthly maintenance fee.
- Bank of America Advantage Plus Banking®: $12, waived if you enrol in Preferred Rewards, have at least one qualifying direct deposit of $250 each statement cycle, or maintain a minimum balance of $1,500 daily.
- Bank of America Advantage Relationship Banking®: $25. This fee is waived for those enrolled in Preferred Rewards or with at least $10,000 in combined balances across linked checking, savings, IRAs, and Merrill® investment accounts every statement cycle.
With Wells Fargo, your chances of receiving a $ 400 bonus are good if you open a checking account within specific dates. A Wells Fargo checking account must be opened online, no previous Wells Fargo accounts must be opened within the last 12 months and a minimum deposit of $4,000 or more must be made within 90 days to qualify.
When you open a checking account at Citizens Bank, you will receive $ 300. New personal checking accounts must deposit at least $ 500 within 60 days to qualify for the bonus.
Citi Priority Account: Up to $1,500 cash bonus offer
What you’ll get: $300, $700 or $1,500.
How to get it: Open a Citi Priority Checking Account and deposit at least $15,000 while maintaining a minimum average monthly balance of $50,000 across all linked accounts. You must maintain your balance for at least 60 consecutive days after the 20th day in order to receive your bonus. The funds must be new to Citibank®. You must maintain a good standing account in order to be eligible for the bonus.
Where to open: Online.
Who can qualify: To qualify for the offer, you must not have been a Citibank customer in the last 180 days.
When you’ll get it: You will receive your bonus within 90 days of meeting the requirements.
Monthly fee: With a monthly average balance of at least $50,000 across eligible linked accounts, the $30 fee is waived.
Additionally, TD Bank offers two different bonuses for two different types of accounts. TD Bank is offering a $ 300 bonus to anyone who opens a new account within 60 days of opening it, and deposits a minimum of $ 2,500. If that’s out of your reach, you can still get a $150 bonus with the convenience checking promotion, which only requires a $ 500 deposit within 60 days.
What you’ll get: $150 or $300.
How to get it: Create a new TD Convenience Checking or TD Beyond Checking account online at the promotional page. Maintain the account for at least six months, and receive qualifying direct deposits within 60 days of opening it. TD Convenience Checking offers a $150 bonus on cumulative direct deposits of at least $500. TD Beyond Checking customers who deposit a cumulative $2,500 will receive $300.
Where to open: Online.
Who can qualify: This offer is only for new customers. If you have ever been the recipient of a bonus on a previous account or had a TD Bank personal checking account within the last 12 months, you are not eligible. On the East Coast, TD Bank is only available in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia or Washington, D.C.
- When you’ll get it: If you’ve met the requirements, the bonus will be credited to your account within 140 days.
- Monthly fee:
- TD Convenience Checking: $15; waived with a $100 minimum balance.
- TD Beyond Checking: $25 waived with direct deposits of at least $5,000 per statement cycle, a $2,500 minimum daily balance or a combined balance of $25,000 across all eligible TD accounts.
How satisfied are you What banks offer money for opening an account? Let us know in the comments below.