In today's uncertain economic landscape, millennials are getting creative with their income streams. If you're looking to boost your finances, why not consider switching your bank account?
At My Millennial Guide, we've found that some banks are offering seriously sweet deals right now – we're talking up to $3,000 in bonuses for opening new checking or savings accounts.
Checking account promos tend to be the most lucrative. It makes sense when you think about it – a recent survey showed that people typically stick with the same checking account for a whopping 17 years. Banks are willing to pay up for that kind of loyalty!
Ready to make your money work harder for you? Check out our curated list of the best bank account bonuses below. We've done the legwork to compare offers and find you the cream of the crop.
At My Millennial Guide, we're all about helping you navigate the financial world with confidence. Let's make your money moves count!
My Millennial Guide's picks for the best consumer bank account bonuses
Best checking account bonuses
- Chase (Private Client): $3,000 bonus
- SoFi: $325 bonus
- Fifth Third Bank: $300 bonus
- Chase: $300 bonus
- Chase: $100 bonus
Best savings account bonuses
- SoFi: $325 Bonus
Best business bank account bonuses
Credit card bonuses
- Upgrade Cash Rewards Visa®: $200 bonus
- Discover it® Cash Back: $100 bonus
- The Business Platinum Card from American Express: 120,000 points
- American Express Business Gold Card: 70,000 points
Brokerage bonuses
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- Bonus Offer: $300
- Minimum Deposit: $500
- Direct Deposit: Yes
- Expiration Date: 1/22/25
- Bonus Offer: $325
- Minimum Deposit: $1,000-$5,000
- Direct Deposit: Yes
- Expiration Date: 12/31/24
- Bank Bonus: $300
- Minimum Deposit: $2,000
- Direct Deposit: No
- Expiration Date: 1/16/25
A closer look at the top consumer checking account promotions
Chase Private Client Checking℠: Up to $3,000 bonus
Account type:
Private checking account
About:
Chase Private Client CheckingSM is a premium banking service offered by Chase Bank that provides personalized financial advice, priority service, and exclusive benefits such as fee waivers and higher transaction limits. It is designed for high-net-worth individuals who maintain a substantial balance across their Chase accounts.
How to earn:
Unlock a bonus of up to $3,000 by opening a Chase Private Client Checking℠ account before January 22nd, 2025. To qualify, deposit at least $150,000 from external sources into Chase within 45 days.
Keep in mind that the Chase Private Client Checking℠ account carries a $35 monthly fee, which is waived if you maintain a balance of $150,000 or more in this account or across linked Chase accounts. Additionally, having a linked Chase Platinum business checking account can help avoid this fee.
If you meet these guidelines, you'll receive the following bonus: Deposit $150,000 to $249,999 and receive $1,000; deposit $250,000 to $499,999 and get $2,000; deposit $500,000 or more and secure $3,000.
Chase Private Client Checking℠ is a premium banking service for wealthy customers. They're offering a bonus for new accounts:
- Open an account by 1/22/25
- Meet with a banker and move in at least $150,000
- Get up to $3,000 bonus, depending on how much you deposit
The account has a $35 monthly fee, but you can avoid it by keeping $150,000 in Chase accounts.
- Remember, this is a high-end account for people with lots of money to deposit. It's not your typical everyday checking account.
SoFi Checkings & Savings: Up to $325 bonus
Account type:
Checking account
About:
SoFi is an online financial institution that offers a range of products including loans, investment services, and high-yield savings and checking accounts. Known for its user-friendly mobile app, SoFi provides innovative and accessible banking solutions without traditional branches.
How to earn:
SoFi has a great offer for new and current SoFi Checking & Savings customers to earn up to $325 in bonuses! To qualify, set up a direct deposit before the promotion ends. The bonus is tiered based on your deposit amount:
- $1,000 to $4,999: $50 bonus
- $5,000 or more: $300 bonus
Plus, enjoy up to 4.60% APY, free overdraft coverage, no account fees, and early paydays up to 2 days early.
- Up to $325 welcome bonus for new accounts
- No minimum deposit requirements
- No monthly account fees
- Competitive rates of up to 4.50% APY
- Direct deposit amount must total $5,000 or more within 25 calendar days to receive $325 bonus
Fifth Third Momentum® Banking: $300 Bonus
Account type:
Checking account
About:
Fifth Third Momentum® Banking is a suite of banking services offered by Fifth Third Bank, designed to help customers manage their money more effectively. It includes features like no hidden fees, early access to direct deposits, and tools for automated savings and financial goal tracking. Fifth Third Bank is available in 11 states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, and West Virginia. If you are lucky enough to be living in one of those states, right now you can earn $300.
Here to earn:
Simply open a Fifth Third Momentum® Banking checking account and make direct deposits totaling $2,000 or more within 90 days of account opening. The $300 bonus will be added to your new account within 10 business days of completing the easy qualifying activity of setting up direct deposit.
Sign up for a new account through here to take advantage of their diverse range of products and top-performing mobile app. Boost your experience with their generous bank sign-up bonus, making Fifth Third a smart choice for your banking needs.
Explore the benefits of Fifth Third Bank's Momentum Checking: no monthly fees, no minimum deposits or balance requirements. Get paychecks and tax refunds faster with Early Pay, and access quick cash advances with MyAdvance, without credit checks. You can also get a $300 bonus when you open an account and make direct deposits totaling $2,000 or more within 90 days of account opening.
Chase Total Checking®: Up to $300 bonus
Account type:
Checking account
About:
Chase Bank, officially known as JPMorgan Chase Bank, is one of the largest and oldest financial institutions in the United States, offering a wide range of services including checking and savings accounts, credit cards, loans, and investment products. With a vast network of branches and ATMs nationwide, Chase provides convenient and comprehensive banking solutions for individuals and businesses.
How to earn:
You can get a $300 bonus when you open a Chase Total Checking account and set up direct deposits totaling $500 or more within 90 days through a bonus link.
This account comes with a $12 monthly service fee: but it can be avoided with monthly direct deposits totaling $500 or maintain a balance of $1,500 or more in your account.
Securing this bank account bonus is simple. Once you've fulfilled the necessary criteria, your bonus will be credited within 15 business days.
Open a Chase Total Checking® account and earn a $300 bonus after meeting simple requirements. This offer is available for a limited time only, so don’t miss out on this exclusive opportunity!
- Largest bank in the U.S.
- More than 15,000 ATMs and 4,700 physical locations
- New customers can qualify for a $300 intro bonus
- User-friendly online and mobile banking tools
- No minimum deposit to open
- Chase Overdraft Assist and Zero Liability Protection
- $12 monthly maintenance fee that can be waived
Chase Secure Banking℠: $100 Bonus
Account type:
Checking account
About:
Chase Secure Banking℠ is a simple, low-cost checking account with no overdraft fees, designed to help customers manage their finances easily and securely. It offers features like a $4.95 monthly fee, no fees for money orders or cashier's checks, and access to Chase’s extensive branch and ATM network.
How to earn:
Open a Chase Secure Banking℠ account and complete 10 qualifying transactions within 60 days, such as debit card purchases, Zelle®, ACH credits, Chase QuickDeposit, or online bill payments.
The account has a $4.95 monthly fee but comes with no fees for overdrafts, cashier’s checks, or money orders. Once you meet the requirements, you'll receive your $100 bonus within 15 days. This is one of the easiest Chase bank promotions to take advantage of!
A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions (debit card purchases, online bill payments, etc) within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days.
A closer look at the top business checking account bonuses
Chase Business Complete Checking®: $300 Bonus
Account type:
Business checking account
About:
Chase Business is a division of Chase Bank that offers tailored financial products and services for small to large businesses, including business checking accounts, credit cards, loans, and merchant services. With a vast network of branches and online tools, Chase Business provides comprehensive banking solutions to support business growth and management.
How to earn:
This is one of the best business checking promotions from Chase! Open a new Chase Business Complete Banking℠ account, maintain a $2,000 balance for 60 days, and earn $300 in bonus cash.
Additionally, make 5 qualifying transactions within the first 90 days, and ensure your funds are in the account within the first month. You can open the account online or in person by entering your email to receive a promo code. Complete the requirements, and your bonus will be credited within 15 days.
Open a Chase Business Complete Checking® account today and claim your $300 bonus by completing qualifying activities. Maintain a $2,000 balance for 60 days, and perform five essential transactions within 90 days to unlock your reward. Take advantage of unlimited digital deposits and robust online banking features to streamline your business finances and keep more of your money working for you.
- $300 bonus for new accounts
- User-friendly online and mobile banking
- 4,700 branches nationwide
- Unlimited electronic, ATM, and debit card transactions
- Credit card processing included automatically
- Chase doesn't reimburse out-of-network ATM fees
- No option to earn interest
A closer look at the top credit card bonuses
Upgrade Cash Rewards Visa®: $200 Bonus
Account type:
Checking account
About: The Upgrade Cash Rewards Visa® is a credit card that offers 1.5% cash back on all purchases, which is credited as you make payments. It combines the flexibility of a credit card with the predictability of a personal loan, featuring no annual fees and low fixed rates. If you want a bank bonus that doesn't require a direct deposit, this is the one. You'll earn a $200 welcome bonus when you apply for an Upgrade Card and then open a new Rewards Checking account.
How to earn: To get this promotion, start by signing up for the Upgrade Card through here, which works like a mix between a credit card and a line of credit. Then, open a free Rewards Checking account and make three transactions with either your Upgrade Card or the new debit card.
This bonus is easy to earn with minimal effort. Although opening a line of credit might involve a hard credit pull, many customers report only experiencing a soft pull. Unlike other offers, this one doesn’t require a direct deposit, minimum balance, or monthly fees, making it a great and legitimate deal.
This hybrid credit card/personal loan product expands your options and offers a lot of flexibility. But if you have at least fair credit, you might qualify for cards with more benefits or loans with better terms.
A closer look at the top brokerage bonuses
Acorns: $20 Bonus
Account type:
Banking and investing account
About:
With Acorns, you can invest at your own pace in smart portfolios and maximize your growth and costs $3 per month. Acorns also provides a checking account that has many of the features of a traditional bank account including, direct deposit, mobile check deposit, a debit card for you or your kids, and fee-free withdrawal from over 55,000 Allpoint ATMs around the world.
How to earn:
Setting up your Acorns account takes less than 3 minutes. After that, set up Recurring Investments and make your first successful investment of at least $5. Once you do, you'll receive a $20 bonus within 10 days of the following month.
Start investing effortlessly with Acorns! Turn your spare change into investments, making it simple for anyone to build wealth over time. Set up automatic contributions, sit back, and watch your money grow. Plus, get a $20 bonus when you open a new account and start recurring investments.
Robinhood: Free stock
Account type:
Investment account
About:
Robinhood is a popular online brokerage platform that allows users to trade stocks, ETFs, options, and cryptocurrencies with no commission fees. It is known for its user-friendly mobile app and for making investing accessible to a broader audience, particularly younger investors.
How to earn:
If you join through this link, you’ll earn a specified dollar amount and be able to pick your gift stock from a list of 18 of America’s leading companies. The value of the fractional share may be anywhere between $5.00 and $200 and fluctuates based on market movements.
Robinhood has commission-free investing for stocks, options, ETFs, crypto, and tools to help shape your financial future. Sign up and get your first stock worth between $5 and $200, free.
What Are Bank Account Bonuses
Banking account bonuses vary from one company to the next, but many include some sort of perk for opening up an account. These banks want to earn your business, so they may offer you a cash bonus when you sign up for a new checking account.
Bank promotions are a great way to earn extra money just by having a bank account. Typically you don’t have to jump through a lot of hoops to open a bank account, though you should read the fine print carefully before you sign on the dotted line.
It’s also important to verify your eligibility for a new checking account cash bonus. Most banks will stipulate what you need to do to earn the bonus. However, you can also clarify any concerns or questions you might have with the banker if/when you open a checking account in person.
You can also open a new checking account online and still take advantage of these offers. In fact, some banks may waive any fees associated with opening an account if you sign up through these particular promotions.
Are Bank Bonuses Worth It?
Stretching our dollars further is top of mind for most folks these days. Bank bonuses can be a lucrative way to open a checking account and get rewarded for it, depending on which bank you choose. At the same time, finding these promotions and then figuring out which ones fit your lifestyle can be a difficult task.
Our guide breaks through all the terms and conditions jargon to bring you some of the best bank bonuses and promotions you can take advantage of today. While several of them do have a time limit on them, you should take advantage of these offers sooner rather than later (as long as it makes sense, of course). You can easily earn a few extra dollars to put towards your savings just by signing up for a new checking account.
Bank Bonus Ultimate FAQs
A bank account bonus is an incentive offered by financial institutions, including banks and credit unions, to attract new customers. When you open a new account, such as a personal checking account or savings account, the bank may offer you cash bonuses or other rewards.
Bank account bonuses can be worth it as long as it makes sense for your situation. If you’re looking for a new bank, that’s a great time to take advantage of a welcome bonus. However, you shouldn’t move money around a lot just to earn a few extra hundred dollars.
To qualify for most bank bonuses, you often need to:
1) Open an account, whether it's a personal checking account, savings account, business checking account, or even a money market account.
2) Meet certain requirements like setting up a direct deposit, maintaining a minimum balance, or making a specific number of debit card purchases.
3) Ensure the account stays in good standing, avoiding any negative balance.
Yes, banks frequently offer bonuses for various types of accounts including:
Personal checking accounts
Savings accounts
Business checking accounts
Money market accounts
While many major banks like Bank of America, TD Bank, Citi, SoFi, Capital One, CIT Bank and Chase offer bonuses, especially for new checking account customers or new business checking accounts, not every financial institution does. It's always a good idea to check current bank promotions and terms.
This varies by bank, but typically the bonus will be deposited into your account within days of meeting the qualifying criteria, which might involve direct deposit requirements or a specific number of online bill payments. Some banks might require you to receive qualifying direct deposits within 60 days of account opening.
Yes, bank bonuses are generally considered taxable income. Financial institutions might send you a 1099-INT form reporting the bonus. It's always wise to consult with a tax professional regarding any income-related questions.
Most banks and credit unions offer ways to waive the monthly service fee, often by maintaining a minimum balance, setting up regular direct deposits, or linking to other eligible accounts.
Yes, as long as you meet the criteria for each bank. Just ensure you're not closing and reopening accounts too frequently, as this might impact your credit report or get flagged by ChexSystems.
Absolutely! Online banks, like Discover Online Savings Account, often have competitive promotions. They might have different criteria, such as cumulative new money deposits within a specified period.
The core concept is similar, but the requirements might vary. Business checking bonuses might require larger deposits, specific transaction volumes, or business-related debit card purchases.
Always read the terms and conditions. Ensure you can comfortably meet requirements without incurring unnecessary fees. And don't forget to compare offers from both banks and credit unions promotions to find the one best suited to your financial needs.
Bank Your Bonus to Increase Your Savings
Taking advantage of a bank account bonus can help you earn extra money without having to do much in return. We hope you’ve found this article useful in finding bank account promotions you can profit from just by opening a new account. There’s a lot of money out there for the taking, it just takes knowing where to look.
If you're still looking for more promotions, consider looking at the best app bonuses we've rounded up.
Other Bank Promotions:
- Chase Bank Promotions
- Capital One Promotions
- CIT Bank Promotions
- Bank of America Promotions
- Bank Promotions without Direct Deposit Requirements
- Best Credit Union Bonus Promotions
