Interest rates on deposit accounts have been falling, which means your savings balance may not be earning as much as it used to. One way to combat falling rates? Earning a cash bonus for opening a new bank account.

Banks that want to attract new customers often offer sign-up bonuses. However, in order to earn the bonus, you usually have to meet a few requirements. Find out which banks are currently offering the best new account promotions and bonuses, and learn how to qualify.

Banks offering new bank account bonuses

Many banks and credit unions offer limited-time cash bonuses for opening new accounts and meeting certain requirements. Here’s a round-up of personal bank account bonuses you may want to consider if you’re in the market for a new checking or savings account.

Note that bonus details are accurate as of the publication date. Please verify account and bonus requirements directly with the financial institution before opening an account.

Associated Bank Checking Account: Up to $600 bonus

Available through October 31, 2026

You can earn up to a $600 bonus when you open any new Associated Bank checking account (in person or online) and have direct deposits totaling $500 or more put into your new checking account within 90 days of opening your account. The amount of your bonus will depend on the average daily balance of your new checking and/or other Associated Bank accounts: 

• $1,000-$4,999.99: $300 bonus
• $5,000-$9,999.99: $400 bonus
• $10,000 or more: $600 bonus 

If these qualifications are met, your bonus will be paid to your account within 120 days from account opening.

Bank of America Checking Accounts: Up to $500 bonus

Available through January 31, 2027

New checking customers can earn up to $500 by opening a new eligible checking account, then setting up and receiving qualifying direct deposits into the new account within 90 days of account opening. Bonus amount will be based on the total amount of qualifying direct deposits received in the first 90 days:

• $100 bonus: $2,000 total direct deposits
• $300 bonus: $5,000 total direct deposits
• $500 bonus: $10,000+ total direct deposits

Once you’ve met the requirements, your bonus will be deposited within 90 days.

BMO Bank Checking Accounts: Up to $600 bonus

Available through December 15, 2026

BMO Bank is currently offering a new account bonus on its Smart Advantage, Smart Money, and Relationship checking accounts.

You can earn a $60 bonus by opening a new  Savings Builder account online and depositing at least $200 each month. BMO will deposit a $5 reward every month you meet this requirement for the first year.

You can also earn a $600 cash bonus by opening a new checking account and making at least $1,000 in qualifying direct deposits each month for up to six consecutive months. Each month you meet this requirement, BMO will deposit a $100 reward.

Note: This offer is only available for accounts where the primary applicant (first person listed on the account) resides in Arizona, California, Colorado, Florida, Iowa, Illinois, Indiana, Minnesota, New Mexico, Nevada, Oregon, Utah, Washington, or Wisconsin at the time of application. Proof of address may be required.

Capital One 360 Checking: $250 bonus

Available through: Not disclosed

Capital One offers a no-frills checking account that pays a $250 opening bonus. There are no monthly fees or minimum deposit requirements for the account, and it earns a small amount of interest (0.10%) which beats the 0% you get from most other checking accounts. 

To qualify for the bonus, open a new account with promo code CHECKING250. Then, set up and receive at least two direct deposits, each of $500 or more, within 75 days of account opening.

Chase Total Checking: $400 bonus

Available through January 27, 2027

New Chase checking customers can earn a $400 bonus by opening a Chase Total Checking® account and making direct deposits totaling $1,000 or more within 90 days of enrollment. Once the required activities are completed, you’ll receive your new checking account bonus within 15 days.

Note that this offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last three years.

Chase Bank Private Client Checking Account: Up to $3,000 bonus

Available through January 27, 2027

In order to qualify for this bonus, you must open or upgrade to a new Chase Private Client Checking account by July 15, 2026 using your personalized offer code. Next, you’ll need to fund your account by transferring a total of $150,000 or more in qualifying new money or securities to an eligible account within 45 days.

Your bonus amount is determined by your balance:

• $150,000-$249,999.99 qualifies for $1,000
• $250,000-$499,999.99 qualifies for $2,000
• $500,000+ qualifies for $3,000

Your bonus amount will be determined on day 45. Next, you must keep that money in your account for 90 days, and your bonus will be deposited within 40 days.

Chime® Checking Account: Up to $350 bonus

Available through: Not disclosed

New Chime Checking account customers can earn a bonus of up to $350 by completing certain activities.

Additionally, the Chime Checking account comes with no monthly fees, no overdraft fees, no foreign transaction fees, and no minimum balance requirement.

Limited time only. Terms apply, must open the new account and complete qualifying activities to earn up to $350.00 in rewards. Link to full terms can be found at https://www.chime.com/join/promos/intro-offer-v2b/#terms. Each reward will be awarded separately. Rewards are paid after each Eligibility Period ends, provided all requirements for that Eligibility Period were met. Rewards will be transferred to your Account within ten (10) calendar days after the conclusion of the respective Eligibility Period (“Payout Window”).

Citibank Checking Accounts: $325 bonus

Available through October 26, 2026

New Citi checking customers who enroll in enhanced direct deposits can earn a $325 cash bonus. In order to qualify, you must receive at least two enhanced direct deposits into your new checking account totaling $3,000 or more within 90 days of opening your account. 

Enhanced direct deposits include Zelle, PayPal, and Venmo transfers; paychecks; pension payments; and Social Security payments. Your bonus will be deposited as a credit within 30 calendar days. 

E*TRADE Premium Savings Accounts: Up to $800 bonus

Available through January 10, 2027

E*TRADE from Morgan Stanley is offering a $400 or 800 cash bonus, plus a 4.25% promotional APY for the first six months when you open a new Premium Savings Account using promo code SAVE800.

To qualify for a $400 bonus, you must open a new account by the promotional deadline, fund it with at least $20,000 in new money within 30 days, and maintain an average daily balance of at least $20,000 for an additional 45 days after the funding period.

To qualify for an $800 bonus, you must deposit and maintain an average daily balance of at least $100,000 within the same time frame.

The bonus is deposited within 30 days after all requirements are met.

After the six-month promotional period, the account reverts to E*TRADE’s standard variable APY (currently 3.5%). The offer is available only on new Premium Savings Accounts, cannot be combined with other savings bonuses, and is limited to eligible customers.

Fifth Third Bank Checking Account: $300 bonus

Available through January 4, 2027

Fifth Third Bank is currently offering a bonus of $300 when you open a qualifying checking account with an offer code. To earn the bonus, you must make direct deposits totaling $500 or more within 90 days of account opening. The bonus will be added to your new account within 10 business days of completing qualifying activity requirements.

Huntington National Bank Perks or Platinum Perks Checking: Up to $600 bonus

Available through January 15, 2027

Huntington National Bank customers who open a new checking account can qualify for one of two bonus tiers, depending on the account you open:

• $400 when you open a Perks Checking account and set up and receive a qualifying direct deposit of at least $500 within 90 days of account opening. 
• $600 when you make cumulative new money deposits of $25,000 into a new Platinum Perks checking account within 90 days of account opening. 

Be sure to include your unique offer code when opening an account. You must keep your account open for 90 days to earn a bonus. Once these requirements are met, you’ll receive your bonus within 14 days. Note that this offer is only available to applicants residing in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, North Carolina, Ohio, Pennsylvania, South Carolina, West Virginia, or Wisconsin.

PNC Bank Virtual Wallet: Up to $400 bonus

Available through January 7, 2027

PNC Bank currently offers a bonus of up to $400 for its combination checking (Spend) and savings account known as Virtual Wallet. This bonus is tiered based on the Virtual Wallet type and qualifying activities:

• Virtual Wallet: Earn $100 when you establish total qualifying direct deposits of $500 or more to the Spend account
• Virtual Wallet with Performance Spend: Earn $200 when you establish total qualifying direct deposits of $2,000 or more to the Spend account
• Virtual Wallet with Performance Select: Earn $400 when you establish total qualifying direct deposits of $5,000 or more to the Spend account

To qualify for the reward, the new Virtual Wallet product must be opened online and a qualifying direct deposit(s) must be received within the first 60 days. Your account must remain open in order for you to receive the reward, which will be credited to the eligible account within 60 to 90 days after all conditions have been met.

You will not be eligible for the offer if you or any signer on the new account has an existing PNC Bank consumer checking account, or have closed an account within the past 12 months, or if you have been a primary signer on a consumer checking account that has received a PNC promotional premium in the past 24 months.

SoFi Checking and Savings Account: Up to $400 bonus

Available through December 31, 2026

Earn $50 or $400 when you sign up and set up eligible direct deposit after opening a new SoFi online bank account. In order to qualify for the bonus, you must receive at least one direct deposit. The amount and timing of your deposit will determine the bonus you will receive:

• Direct deposits totaling less than $999.99 do not qualify for a bonus
• Direct deposits totaling $1,000 to $4,999.99 earn $50
• Direct deposits totaling $5,000 or more earn $400

Once these requirements have been met, account holders will receive their bonus within seven business days of the end of the direct deposit bonus period, which begins when SoFi receives a direct deposit of $1 or more within the promotion period and ends 25 calendar days later. 

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 Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.

SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

U.S. Bank Smartly Checking Account: Up to $450 bonus

Available through November 10, 2026

New U.S. Bank customers can earn a tiered cash bonus of up to $450 by opening a new Smartly Checking account, making the required $25 opening deposit, enrolling in online or mobile banking, and receiving at least two qualifying direct deposits within 90 days.

The bonus amount depends on the total value of those direct deposits:

• $2,000 to $4,999.99: $250
• $5,000 to $7,999.99: $350
• $8,000 or more: $450

Wells Fargo Everyday Checking: $325 bonus

Available through October 13, 2026

New checking account customers can qualify for a bonus of $325 by opening a new Everyday Checking account online or in a branch with a minimum opening deposit of $25. You must receive a total of $1,000 or more in qualifying electronic deposits to your account within 90 calendar days of account opening. Once these qualifications are met, your bonus will be deposited into your new checking account within 30 days. 

How do bank account bonuses work?

New bank account offers like bonuses are cash incentives for new customers who open bank accounts. In most cases, a bank will require that you meet certain requirements to qualify for a bonus.

These requirements vary from bank to bank but may involve a minimum amount in direct deposits within a certain period, minimum balance requirements, an account that remains in good standing throughout the promotional period, or signing up for other products in addition to your primary bank account.

Once you’ve met the requirements to earn a new bank account offer, you’ll receive your bonus in your account within a few days, in many cases. However, to discourage new customers from signing up for an account just to collect a bonus and then closing it, there may be penalties for closing your account within a certain number of days or months after receiving a bonus payout.

Are bank account bonuses and promotions worth it?

Opening a new account to earn a cash bonus can be tempting, but these offers can come with a lot of fine print. Here are some of the major pros and cons to be aware of before you open a new account with a bank account bonus/promotion in mind:

Pros:

• It’s free money. No matter the amount, extra funds in your account can go a long way and give you some extra breathing room in your budget.
• Incentive to switch banks. If your current bank isn’t working for you, a promotional account bonus can be the incentive you need to switch banks and open a new account with better perks or lower fees.

Cons:

• Bonuses are taxable. Bank account bonuses are considered taxable income along with interest earned on your balance. This puts you on the hook for a potentially bigger bill come tax time.
• There may be extra requirements. Banks create these promotions to entice new customers to open an account and stick around. As such, getting that bonus may not be as simple as opening an account — you may need to meet a long list of requirements to qualify for the full bonus amount, and your bank may also put rules in place to make sure you don’t close your account right after your bonus payout.

What to consider when choosing a bank account bonus

If you’re thinking about pursuing a new bank account bonus, there are several key factors to think about to ensure it’s a good financial move:

• Bonus amount: Of course, the size of the new account bonus is a major factor to consider, especially compared to the requirements needed to qualify for the bonus.
• Minimum account balance: Some banks require that you maintain a minimum account balance to qualify for the bonus or to avoid monthly fees. If a minimum balance is required, be sure it won’t strain your finances.
• Direct deposit requirements: Many bonuses require setting up a direct deposit of a certain amount within a specific timeframe. Ensure your regular income sources can be set up as direct deposit to meet these criteria.
• Transaction requirements: Some accounts might require a minimum number of transactions per month to qualify for the bonus, which should fit naturally with your spending habits.
• Monthly fees: You may want to avoid opening an account that charges monthly maintenance fees. If a certain account does come with monthly fees, see if these can be waived by meeting certain criteria like maintaining a minimum balance or having direct deposits.
• Account features: It’s also important to look beyond the bonus and consider the features of the bank account itself. Does it offer benefits like free checks, ATM fee reimbursements, online banking, and a quality mobile app?
• Interest rates: Choosing an account that earns a higher interest rate can help your balance grow over time.