Bank Bonuses
Bank bonuses can help make checking and savings accounts more appealing to customers, and they can be worth several hundred dollars. But they’re usually only available for a short time, and they have strict eligibility criteria. This usually includes opening a new account and depositing a certain amount of funds in the first few months. Read on to learn more about how these bonuses work and which ones are active right now.
Best Bank Bonuses of January
Best checking account bonuses and offers
Here’s a look at some of the best bank Bonuses promotions available on checking accounts.
Save aspiration costs and a $150 bonus
What you get: $150 bonus.
How you earn it: Open a new Aspiration Spend and Save account. You must have at least $10 and use your Aspiration Debit Card to make at least $1,000 in purchases within the first 60 days of account opening.
How you qualify: This offer is only available to those who do not already have Aspiration Spend & Save accounts.
When you’ll get it: It can take up to 120 days from the day you complete all the qualifying activities to get your bank incentive. Note that this is longer than many other bank bonuses.
Where to open account: Aspiration does not have branches, so you must open your account online. However, even brick-and-mortar institutions limit their bank account bonuses to customers who open accounts online — so don’t let this deter you.
Monthly Fees: The Aspiration Spend & Save Account enables you to decide how much, if anything, you want to pay in monthly fees.
Monthly Fees
Aspiration Plus $200 bonus
What you get: $200 bonus
How you earn it: Open a new Aspiration Spend & Save account. Then, enroll in Aspiration Plus either at sign up or within 60 days of account opening. You must have at least $10 to deposit when opening the account, and you must spend at least $1,000 within the first 60 days of account opening.
How you qualify: This offer is only available to those who don’t already have bank accounts through Aspiration Bank Bonuses.
When you’ll get it: It can take up to 120 days after you’ve completed all the qualifying activities for your funds to appear in your account. This is longer than many other bank bonuses.
Where to open an account: Aspiration is an online-only bank, so you must go to its website to open your account.
Monthly fees: Aspiration Plus charges $7.99 per month, though you’ll only pay $5.99 per month if you choose to pay annually.
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Citi checking account $300, $700, or $1,500 bonus
What you get: $300, $700, or $1,500 bonus
How you earn it: You must open a Citi checking account in an eligible account package by July 17, 2022, and deposit new-to-Citibank funds within 20 days of account opening. You must then maintain the required minimum balance in your account for an additional 60 days. The amount you deposit determines the size of your bonus:
- $300 cash bonus: $15,000 minimum balance
- $700 cash bonus: $50,000 minimum balance
- $1,500 cash bonus: $200,000 minimum balance
How you qualify: You must be at least 18, and you may not have had a Citi checking account within the last 180 days. You must also furnish or have a valid Form W-9 or Form W-8BEN on file with Citibank.
When you’ll get it: You’ll receive your bonus within 90 days of completing all qualifying activities.
Where to open an account: You must open your eligible account online to claim this bonus.
Monthly fees: Monthly fees vary depending on which account package you choose:
- Citigold® account: No monthly fee
- Basic Banking account:$12 (waivable)
- Citi Priority package: $30 (waivable)
- Citibank® package: $25 (waivable)
Why are there promotions in banks?
Bank account bonuses and offers are a way for banks to attract new customers who may be on the fence about where to put their money. Banking is a competitive business, especially with the rise of online banks that offer lower fees and higher APYs, so bank offers can give a bank account a little extra appeal.
promotions in banks
Checking account bonuses are more common than savings account offers. The main draw with a savings account is the APY. Checking accounts often lack interest, which means bonuses can go a long way in helping an account stand out. Savings account offers are more rare, but once in a while you’ll see a bank promo featuring a savings account.
What should I look for when choosing a bank account with a bonus or offer?
Here’s what you should look for:
Valuable long-term features: Bank Bonuses is nice, but it is a one-time offer. Once you earn that, you’re stuck with the bank account. So there is no point in opening an account for the bonus alone if it does not have features that will help you manage your money in the long term. The best bank deals will connect you with a bank you’ll love for years to come.
Ability to qualify: There is no point in signing up for an account offering the best bank Bonuses if you doubt your ability to meet the eligibility requirements required to receive that bonus. Make sure you review all the criteria required to receive the bonus first and note any deadlines so you don’t accidentally disqualify yourself.
Impressive bonus: All other factors being equal, you can also go for the bank Bonuses account that offers the biggest bonus.
What rules apply to bank promotions?
To get a cash bonus when you open a checking or savings account, you normally need to open a new account with the bank Bonuses and you must open the account during the promotional period. You might need to enter some type of promotional code or use a specific link when you sign up to claim the bonus.
apply to bank promotions
Each bank offer will have its own criteria you must meet to earn the bonus. Usually, it involves depositing a certain amount of money into the account over the first few statement cycles, but some bank Bonuses also require a certain number of transactions or a minimum balance over your first few statement cycles.
What banks offer checking and savings account bonuses or offers right now?
Here are a few banks offering checking and savings account bonuses you can claim now:
- Aspiration: Aspiration is an online bank Bonuses that offers cash management accounts — accounts that combine some of the features of checking and savings accounts. Not only do new customers get bank Bonuses deals from Aspiration, but accounts also have other perks, like cash back on debit card purchases. Also, since very few banks offer a savings account bonus, this is a rare opportunity for those interested in savings incentives.
- Bank of America: Bank Bonuses of America offers one of the more unique bank promotions on its versatile Advantage Banking account, which lets you choose between three accounts with different features and switch between them as often as you’d like.
- BMO Harris: BMO Harris offers several checking account promotions, and they’re pretty sizable compared to what their competitors offer.
- Chase: Chase has several bank account offers on its checking accounts and is one of the few banks to offer savings account bonuses on occasion. Chase typically gets bank Bonuses incentives into qualifying customers’ accounts much faster than many other banks. This is the best bank bonus if you’re already interested in opening a Chase account.
- Citibank: Citibank offers bonuses on several of its checking accounts. Some of these are especially lucrative, but you’ll need a lot of cash to claim the largest bonus.
- Discover Bank: Discover is one of the rare banks Bonuses that offers bonuses to its savings account customers on top of its already competitive APY.
- Huntington National Bank: Huntington National Bank is a regional bank that offers several checking account offers with relatively painless qualification requirements. There are several accounts to choose from, so it’s easy to find a bonus you can earn and an account with the features you need long term.
- SoFi: SoFi offers an easy-to-achieve sign up bonus for its checking and savings account customers, and it’s even open to some existing customers.
- TD Bank: TD Bank consistently features checking account offers on its Beyond Checking and Convenience Checking℠ accounts and the qualification requirements are pretty easy to meet.
- Truist: Formerly BB&T and SunTrust, Truist offers one of the most competitive checking account bonuses we’ve found.
- Wells Fargo: Wells Fargo’s checking account bonus is pretty sizable considering what you have to do to earn the bonus, though it might not be a good fit if you don’t have thousands of dollars to spend.