Banks offer signup or welcome bonuses as a way to incentivize you to open an account. For the most part, bank account bonuses are offered for checking accounts, but you’re also likely to find referral bonuses. You might even get lucky and find a savings account welcome bonus.
While many banks offer signup bonuses, be prepared to fulfill certain requirements to earn the extra cash, such as setting up direct deposit or depositing a specific amount of money.
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Best bank account bonuses at a glance
Compare the best account bonuses for checking, savings and business accounts.
Bank account
Bonus amount
Easy, somewhat difficult, or very difficult to earn
Finder’s banking experts analyze more than 200 accounts in the market to narrow down the best accounts with signup and referral bonuses. We consider the bonus value, the eligibility requirements, how many accounts are available under the same bonus and the account itself based on these criteria:
No requirements to open an additional account
Direct deposit requirements of no more than $2,000 within a 30-day period
We also look at the features of the account itself, such as:
$0 monthly fee or easy ways to void it, with the exception of prepaid cards
Nationwide availability
Low minimum opening deposits, depending on the type of account:
Max $100 for personal checking accounts
Max $1,000 for personal savings accounts
Max $1,000 for business checking and savings
Best bank account bonus requirements
You’d be hard-pressed to find a bank bonus with no requirements. To earn a bank welcome or signup bonus, you’ll likely need to set up direct deposit, meet balance requirements, fulfill activity requirements or deposit a certain amount of cash to earn that sweet cash. For referral bonuses, most banks require you to send a unique link to a friend or family member, who may then need to deposit cash or meet activity requirements.
Here’s the nitty-gritty on how to earn each of the best bank account bonuses.
Chase Total Checking® $300 bonus requirements
Expiration date: January 22, 2025
Open a new Chase Total Checking® account by the expiration date, enroll in the coupon and set up direct deposits totaling $500 or more within 90 days of enrollment. After meeting the requirements, the bonus is delivered within 15 days.
This offer is available to new Chase customers only. Those who aren’t eligible include:
Existing Chase checking customers
Those who closed their accounts within 90 days
Those who closed with a negative balance within the last three years
You can receive only one new checking account-related bonus every two years from the last enrollment date and only one bonus per account.
Chase College Checking $100 bonus requirements
Expiration date: January 22, 2025
Open a new Chase College Checking account online or with your coupon at a local branch. Complete 10 qualifying transactions within 60 days of coupon enrollment, and you’ll receive the bonus within 15 days of meeting requirements.
This offer is available to new Chase customers only. Not available to customers who have closed their accounts within 90 days or closed with a negative balance within the last three years.
SoFi Checking $50 or up to $300 bonus requirements
Expiration date: December 31, 2024
Open a SoFi account and direct deposit at least $1,000 within 25 days of account opening to earn a $50 bonus. Get up to $300 when you deposit $5,000 or more within the same period. You’ll receive your bonus within seven business days following the 25-day period.
This offer is available to all new members who open an account during the promotional period.
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/termsSee list of participating banks at SoFi.com/banking/fdic/receivingbanks
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Earn a $300 cash bonus by making at least $4,000 in qualifying direct deposits within the first 90 days. If you apply online, you must use the Open Now links on the site. These links apply a promo code required to earn the bonus. If you apply by phone, you must submit all account opening documents and signed documents by February 03, 2025. Bonuses are paid out approximately 100 days after account opening. New BMO customers only. Not available to existing BMO personal checking customers or those who have closed a BMO personal checking account within the past 12 months.
TD Beyond Checking $300 bonus requirements
Expiration date: December 31, 2024
Open a TD Beyond Checking account and add $2,500 or more in direct deposits within 60 days. The bonus is paid on or before 180 days after account opening.
This offer is available to new personal checking customers who have not received a checking account bonus from TD Bank and have not had an existing or prior personal TD Bank checking account within the past 12 months. Customers must open their account online via this promotion page and complete the required qualifying criteria.
Suze Orman Ultimate Opportunity Savings $100 bonus requirements
Expiration date: December 31, 2024
Open an account and deposit at least $100 each month for 12 consecutive months. You can apply online or call and mention the “Suze Orman’s The Ultimate Opportunity Savings Account promotion.” After meeting the requirements for 12 months, Alliant states that it may take up to four weeks for the $100 bonus to be posted to your account. New Alliant members only. Additionally, former Alliant members who closed an Alliant savings account within 180 days prior to applying are not eligible.
Chase Business Complete Banking $300 bonus requirements
Expiration date: January 16, 2025
Open a new account and deposit at least $2,000 in new money within 30 days of offer enrollment, and maintain at least $2,000 for 60 days from enrollment. Then, complete five qualifying transactions within 90 days of enrollment. Qualifying transactions include debit card purchases, accepting credit and debit card payments via QuickAccept, Chase QuickDeposit, ACH credits, wires or Chase Online Bill Pay. Your bonus will be deposited within 15 days after meeting the requirements. New Chase customers only. Not available to customers who have closed their accounts within 90 days or closed with a negative balance within the last three years.
PNC Business Checking $400 bonus requirements
Expiration date: December 31, 2024
Open a new qualifying account and maintain a minimum average ledger balance of $2,000 for the first three statement cycles, along with 20 qualifying PNC Bank Debit Card transactions within the same period. The bonus will be credited to your account within 90 days after meeting the requirements.
Your business must have an annual revenue of less than $5 million. The new checking account must be opened between October 1, 2024 and December 31, 2024.
Current $50 referral bonus requirements
You can get referral bonuses by inviting your friends to join Current through its mobile app. First, go to your Profile tab in the app, tap Invite Friends, then tap Invite Your Contacts. You can also share the referral invite via email, text message or social media apps. After meeting requirements, you and the referred person should get the bonus within 10 business days.
Once the person receives the invite link, applies your unique referral code and makes qualifying deposits of at least $200 within 45 days of opening the account, you and the referred friend each earn $50. Deposits must be made by an employer or payroll provider by ACH deposit. Transfers via Paypal, Zelle, Venmo, Square, Google Pay, Cash App or similar peer-to-peer transfer services, one-time direct deposits, mobile check deposits and cash loads don’t qualify.
There’s a $1,000 limit on referral bonuses you can earn in a calendar year. Referred friends will continue earning $50 once you’ve reached your $1,000 limit.
Chase Bank $50 referral bonus requirements
Earn $50 for each friend who opens a qualifying Chase checking account, which includes:
Referrers must copy the unique referral link URL with the person they want to refer, and the referred person must apply via the referral link. One Chase account holder can earn up to $500 per calendar year or earn with up to 10 successful referrals. Bonuses are delivered within 30 days after requirements are met.
To be eligible, the referred person can’t:
Be an existing Chase checking account customer
Have closed an account within 90 days of the referral
Have closed an account with Chase with a negative balance within the last three years
Varo $25 referral bonus requirements
Varo offers both you and a friend $25 when you refer a friend to sign up for a Varo Bank account. Referrals will need to register their email using the unique referral link and then open a new Varo Bank account. The referred person must make qualifying purchases totaling at least $20 using the Varo Debit Card within 30 calendar days of opening the new account. Qualifying purchases don’t include third-party transfers, ATM cash withdrawals or over-the-counter cash withdrawals. Once all requirements are met, Varo awards the bonus within four to seven business days.
Existing Varo account holders can refer up to five friends or family members within a calendar year. Using a referral link and receiving a bonus counts as one of the five referrals. Sharing your link on third-party social media, blogs or other similar websites may cause you to lose eligibility. Existing customers with previously closed accounts aren’t considered new customers and aren’t eligible for the referral bonus.
Step Visa Card $1 referral bonus requirements
Earn $1 when a friend signs up for Step using your referral link. Send them an invite from your app, and you’ll both get rewarded once they meet the eligibility requirements. The only requirement is that they use your unique code within 14 days of opening the account. After conditions are met, Step will issue the reward automatically and send the funds to your account and the referred person’s account.
Referrals are available for active Step users. Send a referral link via a US cell service provider, such as T-Mobile or Verizon. Voice over IP (VoIP) numbers aren’t eligible for referral rewards.
Axos Bank $50 referral bonus requirements
When you refer someone to get an Axos Essential Checking or Rewards Checking account, both of you can earn $50. To refer someone, log in to your online account and locate the referral link. Once the referred person uses the unique referral link, opens a new Essential or Rewards Checking account and funds it, the $50 Referral gift will be deposited into each account within seven business days of the statement cycle.
The referred person must fund the new account with at least $1,000 in direct deposits within 90 days of opening the new account. You are not eligible to receive a referral bonus if you refer yourself.
The referred person is eligible to receive a referral if they:
Have never owned an Axos Bank account
Are approved to open an Axos Bank account
Use the unique referral link from the referrer
BusyKid $20 referral bonus requirements
Share the referral link with your friend. Once your friend signs up, uses the app for at least 30 calendar days and has paid their first monthly account service fee, the referral bonus will be credited to both of you.
The referrer must be at least 18 years old and a US citizen. The referred individual must not be a current or former BusyKid customer. Only one referred reward will be granted for each new family that becomes a customer, regardless of the number of family members who may eventually join.
Marcus Online Savings bonus 0.25% APY requirements
When you refer a friend to Marcus, both you and the friend can earn an additional 0.25% APY bonus for three months on either the Marcus Online Savings account or CD. The current APY on the Marcus Savings account is 3.9%.
Referrers must have an existing Online Savings account or CD with Marcus to earn their 0.25% APY bonus, and the referred person must not have owned a Marcus Online Savings Account or CD in the past 12 months.
GO2bank $50 referral bonus requirements
GO2bank is a neobank by Green Dot. To refer someone, log in online or on the GO2bank app to access the Refer-a-friend page and get the unique share link. Then, share your link with the friend you want to refer. When your referred friend becomes a new GO2bank customer and receives a qualifying direct deposit of $200 or more within 45 days of account opening, you’ll both get $50 deposited into your accounts within 48 hours after qualifying funds are deposited. You can earn up to $1,500 per calendar year through referrals.
Existing GO2bank customers can refer new customers to GO2bank.
TD Bank $50 referral bonus requirements
Referrers must download, print and complete a referral form to send to the referred person. The referred person can then take a referral form to a TD Bank branch to open any TD personal checking account and start the process of earning the $50 bonus for both the referrer and the referred.
The referred person then needs to make at least $250 in qualifying direct deposits or 15 qualifying Visa debit card purchases within 60 days of opening the account. Once the offer criterion is met, the bonus will be credited to both accounts no later than 95 days from the new account opening date.
Referring customers may receive up to 10 bonuses (up to $500) within a calendar year. The referred person can’t have any existing or prior personal checking accounts with TD Bank within the preceding 12 months. TD Bank employees and Canadian cross-border banking customers aren’t eligible. If the checking account is closed by the new customer or TD Bank within six months of the account opening, TD Bank reserves the right to deduct the bonus amount from that account at closing.
Most bank account welcome bonuses or referral bonuses have some sort of requirements you’ll need to meet. Typically, bonuses are awarded within 30 to 90 days after you’ve met the requirements.
However, a great bonus offer doesn’t necessarily mean that bank account is best for you. Compare the best checking accounts and the best savings accounts to get the most bang for your buck.
Frequently asked questions
Are there banks with immediate sign up bonuses?
No, immediate bank account bonuses are almost never offered. Most banks have requirements you need to meet to earn a bonus, such as depositing a certain amount or setting up direct deposit. On top of that, most bank bonuses are delivered anywhere from 7 to 60 days after you’ve met the requirements, so they are not instant.
Are there signup bonuses with no deposit requirements?
It’s rare to find an instant signup bonus with no deposit requirements. Nearly all bank account bonuses require you to set up direct deposit or deposit a certain amount of cash after opening. A few banks claim to have instant signup bonuses that you’ll earn immediately after opening, but the reality is that there are really no “instant” bonuses, and most take a month or two to earn.
However, a few signup bonuses have easier requirements, such as Upgrade Rewards Checking and the Marcus Online Savings Account. With Upgrade, all you have to do to earn the $200 is make three debit card transactions, and Marcus’ bonus is a referral program that offers an APY boost without any deposit requirements.
Is it worth opening a bank account for the bonus?
Sometimes, it can be, but make sure the account is worth your time in the long term. If the bonus comes with a bank account that has a high monthly fee, you’ll end up in the red eventually. Compare the best free checking accounts if you want to avoid monthly maintenance fees.
What bank gives you money for setting up direct deposit?
Banks like SoFi, Chase, Axos and BMO frequently offer bank account bonuses for setting up direct deposit. However, make sure you double-check the direct deposit amount requirements. For example, SoFi’s direct deposit bonus requires direct deposit of at least $1,000 within 25 days of opening your account to earn a $50 bonus, or $5,000 in direct deposit to earn $300 within 25 days of account opening.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 448 Finder guides across topics including:
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