Do you know why banks are always offering incentives to new customers? Banks need your business.
Many banks offer $200+ bonuses just to open an account. There has never been a better time to take advantage of these offers.
Top 2020 Bank Account Bonuses
Here are some of the best bonuses we can find out there today.
1. Chase Savings ($150)
Chase offers a nice savings account sign-up bonus without a huge financial commitment. If you sign up (in person or online) and deposit $10,000 within the first 20 business days, you’ll receive your $150 bonus right in your account.
Chase has some requirements your account must meet in to avoid a $5 monthly maintenance fee. They include keeping your daily balance above $300 or keeping a regularly scheduled direct deposit on that account. Overall, Chase is one of the easiest banks to take advantage of sign-up bonuses with.
2. Chase Total Checking ($200)
This is another one of the easiest sign-up bonuses you can come across. As you can see, banks are willing to dish out good money if you just spend a little time researching them before signing up. For Chase’s Total Checking offer, all you have to do is open a new account, deposit $25, and set up a direct deposit within 60 days. Then $200 will appear in your account within 10 business days and you’re good to go! It’s one of those rare moments in life where you’ll just get free money.
3. Discover Cashback Checking (Up To $360 Yearly)
This is one of the easiest bonuses to get that we have ever seen. All you have to do is open the account, deposit any amount, and start using your debit card to make daily purchases. You can get 1% cash back on up to $3,000 of purchases every month ($36,000 per year). To make things even easier: The cash back goes right into your checking account. No strings attached, no gimmicks. This one’s a no-brainer.
4. Citibank Checking/Savings Account Package (up to $700)
Citibank offers one of the highest sign-up bonuses on the market. Citibank is offering $400 for anyone who signs up for their checking/savings account package and meets the financial requirements. In order to earn the first $400, you have open the checking/savings account package and deposit $15,000 within with the first 30 days, then maintain $15,000 in the account for 60 days.
Don’t have $15,000 lying around? You’re not alone. You can still cash in if you deposit $1,500 instead of $15,000 for a $200 bonus once the conditions have been met.
Is $15,000 pocket change for you? Well…congratulations. You’re doing great. If you can make that initial deposit $50,000 instead of $15,000, you can earn up to $700 by maintaining that balance for 60 days. Not bad.
5. HSBC Premier Checking ($450)
HSBC offers the highest sign-up bonus we can find right now. New members get $450 when they open a new Premier Checking account. Unlike the others, no lump sum required.
However, in order to get the bonus, you have to set up monthly direct deposits totaling at least $5,000. Once three months with these deposits goes by, the bonus is automatically deposited into your account.
Online Banking Advantages
Online banking is convenient and easy. You can do it from any device, on the go, or in the comfort of your own home. The fact that these banks primarily operate online and not in brick-and-mortar stores means they have more cash to spend on acquiring new customers (like you)!
Pro Tip: When searching for a bank offer to cash in on, start with online banks such as Ally, Capital One, and PNC Bank.
There are tons of bonuses out there if you do a little research.