Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
Best bank account bonuses
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A one-year Amazon Prime subscription worth $139
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We’ve gone through the best promotions among national and regional banks and below are our top picks for August 2022.
Annual Percentage Yield (APY)
N/A
Minimum Deposit Amount
None
- No monthly service fee
- Refunds any fees charged by out-of-network ATMs
- No overdraft fees
- Access to wealth management team
- You may qualify for up to $200/year in membership and subscription rebates
- You must have $200,000 combined in Citi bank accounts, and linked retirement/investment accounts to be a Citigold member
- BBB gives Citi an F in trustworthiness
- Earn up to $2,000 cash bonus when you open a new eligible Citigold® Checking Account with required activities
- No Citi fees at non-Citi ATMs
- No monthly service fee when you maintain a combined average monthly balance of $200,000+ in eligible linked deposit, retirement and investment accounts
- 0.00% Annual Percentage Yield
- Within 20 days of opening, deposit $200,000 new-to-Citibank funds
- Maintain a minimum balance of $200,000 for 60 consecutive calendar days
Bonus amount: Earn a cash bonus of up to $2,000 when you maintain a minimum eligible balance and complete required activities
Expiration date: January 9, 2023
Who qualifies: You qualify as long as you haven’t had a Citi checking account in the last 180 days and you’re 18 years old.
What you need to do:
- Open a new checking account in the Citigold® Checking Account by January 9, 2023
- To earn $200, you’ll need to have a minimum deposit and minimum balance of $10,000 to $29,999 within 20 days of your account opening.
- To earn $500, you’ll need to have a minimum deposit and minimum balance of $30,000 to $74,999 within 20 days of your account opening.
- To earn $1,000, you’ll need to have a minimum deposit and minimum balance of $75,000 to $199,999 within 20 days of your account opening.
- To earn $1,500, you’ll need to have a minimum deposit and minimum balance of $200,000 to $299,999 within 20 days of your account opening.
- To earn $2,000, you’ll need to have a minimum deposit and minimum balance of $300,000 and above within 20 days of your account opening.
- Maintain your balance for 60 consecutive calendar days after the 21st day from account opening
- If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.
When you’ll receive the money: The bonus will be paid within 30 days after you successfully complete all required activities
Annual Percentage Yield (APY)
N/A
Minimum Deposit Amount
None
- Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
- No Citi fees at non-Citi ATMs
- $30 monthly service fee waived when you maintain a combined average monthly balance of $30,000+ in eligible linked deposit, retirement and investment accounts
- 0.00% Annual Percentage Yield
Bonus amount: cash bonus of $200, $500, $1,000, $1,500, or $2,000 when you maintain a minimum eligible balance and complete required activities
Expiration date: January 9, 2023
Who qualifies: You qualify as long as you haven’t had a Citi checking account in the last 180 days and you’re 18 years old.
What you need to do:
- Open a new checking account in the Citi Priority Account Package by January 9, 2023
- To earn $200, you’ll need to have a minimum deposit and minimum balance of $10,000 to $29,999 within 20 days of your account opening.
- To earn $500, you’ll need to have a minimum deposit and minimum balance of $30,000 to $74,999 within 20 days of your account opening.
- To earn $1,000, you’ll need to have a minimum deposit and minimum balance of $75,000 to $199,999 within 20 days of your account opening.
- To earn $1,500, you’ll need to have a minimum deposit and minimum balance of $200,000 to $299,999 within 20 days of your account opening.
- To earn $2,000, you’ll need to have a minimum deposit and minimum balance of $300,000 and above within 20 days of your account opening.
- Maintain your balance for 60 consecutive calendar days after the 21st day from account opening
- If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.
When you’ll receive the money: The bonus will be paid within 30 days after you successfully complete all required activities
Annual Percentage Yield (APY)
0.01% APY
Minimum Deposit Amount
$1
- Unlimited out-of-network ATM fee reimbursements
- No foreign transaction fees
- Access to a Premier Savings Account
- Preferential mortgage rates for Premier customers
- $1 opening deposit, and $5 to earn interest
- $50 monthly maintenance fee if you don’t meet qualifications for waiving the fee
- Low interest rate
- Receive a $500 Welcome Deposit when you open your account by February 15, 2023 and complete qualifying activities
- Free International account opening and portable credit history
- No fees for Global Transfers between eligible HSBC accounts worldwide
- Convert, hold and send money abroad with no transfer fees with our Global Money account
- No foreign transaction fees using your Premier debit or credit card
- No U.S. HSBC ATM fees worldwide
Bonus amount: $500
Expiration date: February 15, 2023
Who qualifies: You qualify as long as you qualify for an HSBC Premier relationship. HSBC Premier clients have to keep $75,000 in bank/investment accounts, receive $5,000 in direct deposits each month, or take out a mortgage of at least $500,000.
What you need to do:
When you’ll receive the money: The money will be deposited into your checking account eight weeks after you meet the requirements.
Annual Percentage Yield (APY)
0.01% APY
Minimum Deposit Amount
None
- No opening deposit
- 2 overdraft fee reimbursements per year
- Waive other TD Bank account monthly fees when you have a Beyond Checking Account
- No out-of-network ATM fees
- Reimburses out-of-network ATM fees charged by providers when your balance is at least $2,500
- $25 monthly service fee
- $35 overdraft fee
- Access to over 1,100 branch locations
- Waive $25 monthly fee with $5,000 in monthly direct deposits, OR $2,500 minimum balance, OR total of $25,000 in all TD Bank accounts
- No opening deposit or minimum account balance
- Interest compounded daily
- FDIC insured
Bonus amount: $300 bonus
Expiration date: October 31, 2022
Who qualifies: You must be a new TD Bank customer to qualify.
What you need to do:
- Open a new TD Bank Beyond Checking Account
- Receive at least $2,500 in qualifying direct deposits within 60 days of opening the account
- Keep your account open for at least 6 months
When you’ll receive the money: The money will be deposited into your account around 180 days after opening the account.
Annual Percentage Yield (APY)
1% to 2% APY
Minimum Deposit Amount
None
- High interest rate
- Earn a higher interest rate if you set up direct deposit
- No minimum opening deposit
- No monthly service fees
- No overdraft fees
- Up to $300 bonus
- Earn up to 15% cash back at local retailers if you use a SoFi debit card
- No-fee overdraft coverage if you overdraw up to $50
- Savings tools
- Early direct deposit
- Joint account available
- Declined purchase if you overdraw by more than $50
- Doesn’t reimburse out-of-network ATM providers’ fees
- May deposit cash at Green Dot locations but there’s a $4.95 fee
- Free access to 50,000+ Allpoint ATMs worldwide
- Hybrid checking/savings account
- Earn up to 15% cash back on local retailers when you use a SoFi debit card; Retailer information is available through online banking
- Earn 2% APY with direct deposit
- Earn 1% APY if you do not have direct deposit
- Earn up to a $300 bonus by 9/30/2022: Receive a $50 bonus if you make a direct deposit between $1,000 and $1,999 in the first 30 days; receive a $100 bonus if you make a direct deposit between $2,000 and $4,999 in the first 30 days; receive a $300 bonus if you make a direct deposit above $5,000 in the first 30 days;
- Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation
- $4.95 fee each time you deposit cash at a Green Dot location
- To get no-fee overdraft coverage you must have at least $1,000 in direct deposits
- FDIC insured
Bonus amount: $50, $100 or $300 bonus
Expiration date: September 30, 2022
Who qualifies: You must be a new SoFi Checking and Savings customer, or an existing SoFi Checking and Savings customer who hasn’t set up direct deposit.
What you need to do:
- Open SoFi Checking and Savings
- To earn a $50 cash bonus, you must receive between $1,000 and $1,999 in qualifying direct deposits during the first 30 days of opening an account
- To earn a $100 cash bonus, you must receive between $2,000 and $4,999 in qualifying direct deposits during the first 30 days of opening an account.
- To earn a $300 cash bonus, you must receive over $5,000 in qualifying direct deposits during the first 30 days of opening an account
When you’ll receive the money: The money will be deposited into your account around 14 days after the first month of opening the account.
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
- No required opening deposit
- Over 4,700 branches
- $200 sign-up bonus
- Free overdraft protection when you link to savings for automatic transfers
- $12 monthly fee unless you meet direct deposit or minimum balance requirements
- Fee for non-Chase ATMs
- 3% foreign transaction fee
- $34 overdraft and non-sufficient funds fees (no fee if you’re overdrawn by $50 or less at the end of the business day)
- New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
- Access to 16,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app – Manage your accounts, deposit checks, transfer money and more — all from your device.
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- *With Chase Overdraft Assist℠, we won’t charge an Insufficient Funds Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
Bonus amount: $200
Expiration date: October 19, 2022
Who qualifies: New personal checking account customers.
What you need to do:
- Open a new Chase Total Checking® account with a coupon code
- Set up direct deposit within 90 days after enrolling
When you’ll receive the money: You’ll receive the $250 within 15 days.
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
- Access to 1,100 branch locations and over 2,600 ATMs
- Waive $15 monthly fee with $100 daily balance
- No opening deposit
- FDIC insured
Bonus amount: $200 bonus
Expiration date: October 31, 2022
Who qualifies: You must be a new TD Bank customer to qualify.
What you need to do:
- Open a new TD Bank Convenience Checking Account
- Receive at least $500 in qualifying direct deposits within 60 days of opening the account
- Keep your account open for at least 6 months
When you’ll receive the money: The money will be deposited into your account around 180 days after opening the account.
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$25
- Access to over 7,200 branches and 13,000 ATMs
- Waive $10 monthly fee when you have $500 in direct deposits per month, OR maintain minimum balance of $500, OR link account to a Wells Fargo Campus ATM or Campus Debit Card OR are 17-24 years old
- $200 bonus if you open a new checking account with a bonus code and have $1,000 or more in qualifying direct deposits within the first 90 days of opening the account; Offer is available until September 30, 2022
- FDIC insured
Bonus amount: $200 bonus
Expiration date: September 30, 2022
Who qualifies: It is easy to qualify for and available in 37 US states. To qualify, you must be a new Wells Fargo personal checking account customer and use a bonus code to open an account.
What you need to do:
- Open a new Wells Fargo Everyday Checking Account with a bonus code online or at a branch
- Receive at least $1,000 in direct deposits 90 days within opening the account
When you’ll receive the money: The money will be deposited into your account around 30 days after finishing the requirements.
Annual Percentage Yield (APY)
1.30% APY
Minimum Deposit Amount
$100
- Competitive APY
- Free year of Amazon Prime subscription if you meet the requirements
- Low opening deposit of $100
- Connect your account to Zelle or PayPal
- No monthly service fee
- No paper checks
- No debit card
- No way to access funds at an ATM
- No physical locations
- Connect to Zelle and PayPal
- To get a free year of Amazon Prime you must use the promo code AMZN22 and deposit at least $15,000 during the first 15 days of opening an account; you must also maintain at least $15,000 in your account for 60 days after the initial funding period
- Interest compounded daily, paid monthly
- FDIC insured
Bonus amount: A one-year Amazon Prime subscription worth $139
Expiration date: Amazons Prime code expires on March, 23, 2024
Who qualifies: Anyone who opens the CIT Bank Money Market Account after March 23, 2022 is eligible.
What you need to do:
- Use the promo code “AMZN22”
- Deposit at least $15,000 in the first 15 days of opening your account
- Maintain a daily balance of at least $15,000 for 60 days
When you’ll receive the money: You’ll get an email with your Amazon Prime subscription code around 60 days after finishing the requirements. You’ll have until March 23, 2024 to sign up for Amazon Prime.
Annual Percentage Yield (APY)
Up to 1.25% APY
Minimum Deposit Amount
$50
- $100 Promo with Code “Summer”
- Up to 1.25% APY
- Need to switch banks? Use ClickSWITCH to transfer direct deposit payments to Axos in 3 simple steps.
- Zero monthly maintenance fees
- Zero overdraft or NSF fees
- Zero minimum monthly balance reqs
- Unlimited domestic ATM fee reimbursements
- Zero Minimum Balance Requirement
Bonus amount: $100 bonus
Expiration date: September 30, 2022
Who qualifies: Anyone who opens Axos Bank Rewards Checking between July 5, 2022 and September 30, 2022
What you need to do:
- Use the promo code “SUMMER”
- Have qualifying direct deposit(s) of $1,500 or more within a single month during the first 3 months of opening your account
When you’ll receive the money: The cash bonus will be deposited into your account within 30 days following the first 3 months of opening an account.
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$100
- Access to over 4,200 branches and 16,000 ATMs
- New Bank of America customers may receive a $100 bonus until 12/31/2022 when you open a Bank of America Advantage Banking account with a Bank of America associate who enrolls you in offer, and set up direct deposit for $1,000 or more within the first 90 days of opening the account
- Waive $12 monthly service fee by doing one of the following: receive $250/month in direct deposits, keep $1,500 minimum daily balance, enroll in Preferred Rewards, or be a student under age 24
- If you use Balance Connect and link your checking account to a backup account, there’s a $0 overdraft protection transfer fee
- FDIC insured
Bonus amount: $100 bonus
Expiration date: December 31, 2022
Who qualifies: It is easy to qualify for and available in 37 US states. To qualify, you be a new Bank of America personal checking account customer.
What you need to do:
- Open a Bank of America Advantage SafeBalance, Plus, or Relationship Banking Checking Account through the bank’s promotional page by December 31, 2022
- Receive at least $1,000 in direct deposits within 90 days of opening the account
When you’ll receive the money: The money will be deposited into your account around 60 days after finishing the requirements.
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
- No minimum opening deposit
- No overdraft fees
- Free money orders and cashier’s checks
- Receive a $100 sign-up bonus when you open an account online or at a branch with your coupon and make 60 qualifying transactions within the first 60 days
- $4.95 monthly service fee, no option to waive
- Does not include paper checks
- No wire transfers to or from this account
- New Chase checking customers enjoy $100 when you open a Chase Secure Banking℠ account with qualifying transactions. Open an account online or at any Chase branch.
- No minimum deposit to open an account and get started.
- No paper checks to track and no Chase fees on money orders or cashier’s checks.
- Pay bills, cash checks and send money with Zelle® all for a $4.95 monthly service fee.
- Say goodbye to overdraft fees with a Chase debit card that helps you stay within your balance.
- Bank from virtually anywhere with access to 16,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase Online℠.
- Get more for your money. Secure Banking customers told us they save an average of $50 a month on fees after opening their account.
- Get reimbursed for unauthorized debit card transactions when reported promptly with Zero Liability Protection.
Bonus amount: $100
Expiration date: October 19, 2022
Who qualifies: You must be a new checking account customer.
What you need to do:
When you’ll receive the money: You’ll get the money deposited into your account 15 days after you’ve completed 10 transactions.
Regular APR
17.49% – 24.49% Variable
Good to Excellent
Regular APR
17.49% – 24.49% Variable
Credit Score
Good to Excellent
Regular APR
16.49% – 25.24% Variable
Credit Score
Good to Excellent
Frequently asked questions
Is opening a bank account for the bonus worth it?
In short — it depends.
Depending on your balance, a cash bonus could end up earning you more money than a high APY would. However, make sure you won’t pay fees that will cancel out the amount you earn as a bonus. For example, if you earn a sign-up bonus but have to pay a monthly fee and are regularly penalized for overdrawing, opening a bank account for the bonus may not be worth it.
Why do banks have sign-up bonuses?
Banks offer bonuses to draw in new customers and to set themselves apart from competing banks that may offer similar interest rates, monthly fees, or opening deposit requirements.
Can I receive more than one bank account bonus?
You typically can’t receive more than one bank account bonus with the same bank within a certain amount of time — usually between a few months and a couple years. But if you have the funds, you may be able to receive one bank account bonus from multiple banks.
Do I have to pay taxes on bank account bonuses?
Yes, you do have to pay taxes on your bonus. When you file taxes for the year, you’ll report the sign-up bonus as income and pay income tax accordingly.
