Bank promotions offered to customers consist of cash bonuses when you open a savings account. In order to qualify for this one-time perk, the best possible move is to open a high-yield savings account or any of the best money accounts. This will empower you to save money as well as earn interest on the account balance- the right step towards financial success.
Before opening up a new personal account, it is best to investigate the market and find out the best checking account sign-up bonus which a number of banks offer to their new customers mainly due to competition in the banking industry.
In exchange for opening a new checking account, you can easily earn $200 to 300 dollars or even more. The new account signup bonuses are a risk-free way of earning cash; however, it does take an effort to investigate the market and find out the best checking account signup bonus for yourself.
We have compiled a list of banks offering bonuses that will aid you in arriving at a firm decision of choosing the best suitable checking account.
HSBC Bank USA:
HSBC bank offers $450 on the opening of HSBC’s premier checking account where you can receive direct deposits of $5000 monthly for at least three consecutive months. This direct deposit starts from the second month of the opening of the account. Isn’t it interesting?
Another way to receive cashback or bonus is opting for a premier cash bonus which pays back up to $600 on a new checking account once your direct deposits are qualified. The monthly limit of this particular bonus is $100 per month till the first six months.
Chase bank offers up to a $225 bonus on new checking accounts. If you open a total checking account with a direct deposit of $500 then you are liable to receive the above-mentioned amount within the first 90 days of the account’s opening.
To receive the bonus, you must not have any existing checking account at Chase bank. A special offer for college students who are aged between 17 to 24 years old is that they can get $100 on the opening of their Chase College checking account.
Another rule specified by the Chase bank is, that to receive this bonus, you have to make at least 10 transactions through any of the services such as checks, online bill payments, Chase QuickDeposit, debit card purchases, ACH credit provided by the bank.
The M&T Bank offers its users to earn almost $250 on the opening of their checking accounts. M&T pays out this amount to the client if the person directly deposits $500 in the account within the initial 90 days of the account inauguration.
Capital One Bank:
Capital One offers its clients to earn $150 on the opening of their 360 checking account.
To avail of the bonus, you have to make direct deposits of at least $250 into the new account within the first 75 days of the 360 Checking account.
Bank of America:
Bank of America offers $100 to new customers when they open their accounts online.
To avail of the bonus, it is mandatory to:
- Open a new Advantage Safe Balance Banking, or Advantage Relationship Banking account online
- Not have any prior personal checking account in the Bank of America or have any joint account.
- Make an opening deposit of at least $25 for the advantage SafeBalance Banking account and $100 if you open any other checking accounts.
- Receive two direct deposits worth $250 within the initial 90 days of the account opening.
Huntington National bank:
The Huntington National bank also offers bonuses on a few of its checking accounts for both the business owners and customers.
You can earn up to $150 while opening an Asterisk-Free Checking account. Also, you can focus on making a cumulative deposit of a minimum of $1000 within the first 60 days of the account opening.
$200 can be earned on the opening of a Huntington 5 Checking account if a cumulative amount of $1000 is deposited into the account within initial 60 days
Why do banks offer bonuses over new checking accounts?
Banks offer bonuses on new checking accounts to distinguish themselves from their counterparts in the market. The cash bonuses help banks to bring new deposits as well as cash.
Banks are usually focused on offering bonuses to raise the interest rate which will spread the market to a wide range of customers bringing in more cash.
Many banks offer more than one sign-up bonus. But at times it is not possible to qualify for multiple bonuses from the same bank at once. Bonuses are usually available on new savings accounts or checking accounts only therefore it is not possible to avail of multiple bonuses.
Not every bank offers the best checking account sign-up bonus, therefore, it is up to you to decide which one meets your requirements and suits you best.