Bank Bonuses and Promotions

When times are uncertain economically, many people may feel pressured to discover creative new methods to make more income. And for those who are also interested in opening a new checking or savings account, current promotions at some banks include an additional economic incentive to move their funds now to a new home, with some offering as much as an additional $200 or $300 to customers who transfer their money to a new institution. So, what are the best bank account bonuses?

Checking Account Bonus

Citibank: Up to $2,000 bonus

Customers may get a bonus of up to $2,000 from Citibank if they create a new checking account by January 9, 2023. Depositing money into the account within the first 20 days after starting is required to qualify for the bonus. The balance in the account determines the bonus amount after 20 days.

If you maintain a minimum balance of $20,000 after making a minimum deposit of $10,000, you will receive an additional $200.
If you maintain a minimum balance of $30,000 after making a minimum deposit of $30,000, you are eligible for a bonus of $500.
You may earn an additional $1,000 by keeping a minimum balance of $75,000 and a minimum deposit of $75,000.
If you maintain a minimum balance of $200,000 after making a minimum deposit of $200,000, you may earn an additional $1,500.
You may earn a maximum of $2,000 by maintaining a minimum balance of $300,000 and making a minimum deposit of $300,000.

BMO Harris: up to $350 bonus

Consumers who do not already have a checking account with BMO Harris are eligible to get a bonus ranging from $200 to $350 when they create a Smart Advantage Account, Premier Account or Smart Money Account with the financial institution.

A minimum of $4,000 in direct deposits must be made during the first ninety days of opening a Smart Advantage Account to qualify for the associated $200 bonus.
When you start a Smart Money Account, you can receive a bonus of up to $200 if you make a minimum of $4,000 in specific direct deposits during the account's first 90 days.
If you create a Premier Account and have a total of $7,500 in specific direct deposits during the first 90 days of starting the account, you are eligible for a bonus of $350.
Paychecks, pensions, Social Security, and other forms of government assistance are examples of direct deposits that qualify.

SoFi Bank: up to $250 bonus

By establishing a checking and savings account with SoFi Bank, new clients may get a welcome bonus of up to $250. You will need to make a direct transfer to qualify for the bonus. According to the information provided on the SoFi Bank website, the bonus amount is determined by the total amount of qualified direct deposits you make throughout the 30-day assessment period.

You will get $50 for direct transfers between $1,000 and $4,999.99.
Earn $250 for a direct deposit of at least $5,000 in qualifying funds.

TD Bank: up to $300 bonus

Between June 14 and October 31, 2023, new clients can earn up to $300 by creating a TD Bank Beyond Checking account or up to $200 by opening a TD Convenience Checking account.

This offer is open to new customers who have never had a checking account with TD Bank in the preceding year and want to open a new account.
Customers who have already been awarded a checking account bonus cannot take advantage of this promotion.

M&'T Bank: up to $200 bonus

Between November 1, 2022, and January 31, 2023, customers who establish any personal checking account at M&'T Bank are eligible to receive a bonus of up to two hundred dollars. To be eligible for the bonus, a qualifying direct deposit of at least $500 must be made into the checking account during the first ninety days after the account was opened.

Savings Account Bonuses

TD Bank: $200 bonus

You may get a bonus of $200 if you create new savings account with TD Signature Savings or TD Simple Savings.

To qualify for this bonus, you need to open a TD Simple Savings account or Signature Savings, deposit at least $10,000, and keep the amount at $10,000 or higher for at least 90 days.
The bonus offer will expire on October 31, 2023.
During the preceding calendar year, customers who had either a personal money market account or a savings account with TD Bank were ineligible for the promotion.

BMO Harris: up to $60 bonus in a year

Customers may earn up to $5 per month ($60 per year) when they open a new Savings Builder account and make deposits of at least $200 per month for one year. To be eligible for all 12 savings awards, an initial deposit must be made into the account in the same month it started. Existing accounts are not eligible for this promotion.