Best for Helping Out a Friend
Chime Referral Bonus
$100
Best for Socially Conscious Clients
Aspiration Plus
$200
Best for Basic Checking
Chase Total Checking
$225
Best for ATM Power Users
PNC Virtual Wallet
Up to $300
by Timothy Moore
Contributor
So, you’re looking for a new bank account.
You’ve got several factors to consider — ATM access, interest rates, monthly account fees, minimum balances, online bill payments and more.
Another factor: sign-up promotions and bonuses. Banks and credit unions frequently run promotions to entice prospective customers to open a new account — and they often come with cash. You have to meet specific criteria, such as making a minimum opening deposit, and generally the account must remain open for a certain amount of time — at least long enough to earn the cash bonus.
Many banks offer such sign-up bonuses, but often, they aren’t advertised. We did some digging to find the best bank promotions currently on offer.
Best Checking and Savings Account Offers of December 2021
Keep an eye on what each promotion requires, as well as any limitations. Recurring direct deposits and maintaining a minimum balance are common requirements in securing bank bonuses. Also pay attention to any monthly fees the account might carry; over time, these could weigh out the actual cash bonus. Otherwise, happy bank bonus shopping!
17 Bank Promotions That Give you Cash
| Bank | Top Feature | Promotion | ||||
|---|---|---|---|---|---|---|
| Aspiration Account | No fees | $150 | GET DETAILS | |||
| Aspiration Plus | Cash back on purchases | $200 | GET DETAILS | |||
| Chase Total Checking Account | Fees may be waived | $225 | GET DETAILS | |||
| TD Bank Convenience Checking Account | Good basic checking | $150 | GET DETAILS | |||
| TD Bank Beyond Checking Account | High balance rewarded | $300 | GET DETAILS | |||
| Chime Referral Bonus | No monthly fees | $100 | GET DETAILS | |||
| Alliant Credit Union The Ultimate Opportunity Savings Account | High-yield savings | $150 | GET DETAILS | |||
| Bank of America Advantage Banking | Fees can be waived | $100 | GET DETAILS | |||
| BMO Harris Smart Advantage | No fees for paperless | $200 | GET DETAILS | |||
| BMO Harris Smart Money | No overdraft fees | $200 | GET DETAILS | |||
| BMO Harris Premier | Unlimited ATM use | $350 | GET DETAILS | |||
| HSBC Premier Checking Account | No foreign exchange fees | $450 | GET DETAILS | |||
| Fifth Third Checking Account | No hidden fees | $300 | GET DETAILS | |||
| Discover Bank Online Savings Account | No min. opening balance | $150 or $200 | GET DETAILS | |||
| Huntington Asterisk-Free Checking | Quick cash bonus payout | $150 | GET DETAILS | |||
| Huntington 5 Checking | Interest on checking | $200 | GET DETAILS | |||
| PNC Virtual Wallet | Great ATM access | Up to $300 | GET DETAILS |
Aspiration Account
- No monthly service fee
- Save and Spend Account
- 3%-5% cash back on socially conscious
The Aspiration Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 5% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup. You can access your paycheck up to two days early and earn up to 1.00% APY on your savings.
Aspiration Plus Account
- $7.99 monthly, $71.88 if paid annually
- Save and Spend Account
- 10% back/socially conscious purchases
The Aspiration Plus Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 10% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup and get carbon offsets for your gas purchases with Planet Protection. You can access your paycheck up to two days early and earn up to 5.00% APY on your savings.
Chase Total Checking Account
- $12 monthly fee
- Fee waived by meeting conditions
- Basic checking
The Chase Total Checking account gets you access to more than 4,700 branches nationwide, plus 16,000 ATMs. The easy-to-use mobile app is highly rated. While Chase does charge a $12 monthly service fee, you can waive it by earning $500+ in monthly direct deposits, maintaining a daily balance of $1,500+ or having $5,000 across all your Chase accounts at the start of each day. Any of these options qualify you for the $225 checking account bonus offer while avoiding the monthly fee.
TD Bank Convenience Checking Account
- $15 monthly maintenance fee
- Good basic personal checking
- Fee can be waived
The TD Bank Beyond Checking Account’s monthly maintenance fee is steep at $25, but you have three easy ways to waive it (the $2,500 daily balance might be the easiest). Beyond Checking offers two overdraft fee reimbursements a year and no ATM fees, even for out-of-network ATMs (as long as you’ve got that $2,500 balance). Though the account boasts that it earns interest, the growth is inconsequential at 0.01% APY.
TD Bank Beyond Checking Account
- $25 monthly maintenance fee
- Checking account
- Fees can be waived, guidelines vary
The TD Bank Beyond Checking Account’s monthly maintenance fee is steep at $25, but you have three easy ways to waive it (the $2,500 daily balance might be the easiest). Beyond Checking offers two overdraft fee reimbursements a year and no ATM fees, even for out-of-network ATMs (as long as you’ve got that $2,500 balance). Though the account boasts that it earns interest, the growth is inconsequential at 0.01% APY.
Chime Referral Bonus
- Must be current Chime account holder
- No minimum daily balance
- Good for first-time banking clients
Though not technically a bank, Chime is becoming increasingly popular as an online financial institution for banking customers of all ages. Top features include early access to direct deposit, fee-free overdraft, 60,000+ ATMs, a 0.50% APY¹ — 8x the national average² — for the high-yield savings and plenty of features to automatically grow your savings.
Alliant Ultimate Opportunity Savings
- $0 monthly fees with eStatements
- High-yield savings account
- Easy-to-track bonus criteria
The Ultimate Opportunity Savings Account from Alliant Credit Union has a lot to like: 80,000+ fee-free ATMs, no monthly fees if you opt in to online statements, a leading mobile app, and a strong APY at 0.55%.
Bank of America Advantage Account
- Monthly maintenance fees
- Standard checking plans
- Fees can be waived
Bank of America’s Advantage account is broken into three tiers: SafeBalance Banking, Plus Banking, and Relationship Banking. SafeBalance boasts no overdraft fees or non-sufficient funds fees; Plus offers multiple ways to waive the monthly service fee; and Relationship earns interest (though the percentage is quite low).
BMO Harris Smart Advantage Account
- No monthly fee if you go paperless
- Standard checking
- Fee-free transactions at 40,000+ ATMs
Smart Advantage is BMO Harris’ most popular checking account. It requires no minimum balance, charges no monthly fees when you opt for paperless statements and gets you fee-free access to 40,000+ ATMs nationwide with the Allpoint network.
BMO Harris Smart Money Account
- No monthly maintenance fees if under 25
- Standard checking
- No overdraft or NSF fees
Like Smart Advantage, BMO Harris’ Smart Money has no minimum balance required. It’s also noteworthy for having no overdraft or NSF fees. With this account, you will get unlimited fee-free transactions at in-network ATMs (40,000+ nationwide). However, you’ll pay a monthly fee if you’re 25 or older.
BMO Harris Premier Account
- Interest tied to balance
- High-yield checking
- Unlimited ATM transactions
The highest bonus at BMO Harris comes from the Premier Account with Relationship Packages that reward you with more perks for banking more with BMO. The account earns interest, and the amount you earn increases with the amount of funds in the account. You also get unlimited access to any ATMs, in-network or not.
Fifth Third Checking Account
- No monthly or hidden fees
- Low interest-earning checking account
- Overdraft avoidance feature
Fifth Third’s checking account boasts immediate funds for all check deposits, Extra Time for overdraft fee avoidance, early paycheck access, no minimum balance and no hidden fees. The account also offers basic fraud protection services and unlimited check writing.
Discover Bank Online Savings Account
- High-yield savings account (0.40% APY)
- No monthly fees or minimum opening deposit
- No insufficient funds fees
The Discover Bank Online Savings Account offers a competitive APY (0.40%) with interest compounded daily instead of monthly. THere’s no monthly fee with Discover, no minimum deposit and no insufficient funds fee. All in all, not a bad offer.
Huntington Asterisk-Free Checking
- No monthly fees
- Only available in certain states
- Quick cash bonus payout
Huntington’s Asterisk-Free Checking Account doesn’t pay out any interest, but the lack of a monthly maintenance fee does make it appealing for an easy checking account. Key features include mobile banking, the No Overdraft Fee $50 Safety Zone and the 24-Hour Grace Overdraft and Return Fee Relief.
Huntington 5 Checking Account
- $5 monthly fee (can be waived)
- Interest-earning checking
- Quick cash bonus payout
While the Huntington 5 account does have a monthly $5 fee, you can waive it by having $5,000 across accounts with Huntington. By upgrading to this account, you’ll get a higher bonus and ear 0.02% interest on your balance. Plus, you get five free ATM withdrawals.
HSBC Premier Checking Account
- Monthly maintenance fee
- Checking can be linked to high-yield savings
- Unlimited U.S. ATM use
The HSBC Premier account provides one of the best checking account offers at $450, but it’s also a lot less attainable for average Americans. The $75K minimum balance across all HSBC accounts and investments, for example, is a hard criterion to meet to waive the monthly fee. Some more attainable accounts include Advance, Choice Checking and Basic Banking, but you’ll lose out on the bonus opportunity.
PNC Virtual Wallet
- Geography based
- No minimum balance to open
- Digital financial tools
PNC bonus offers are based on amounts of qualifying direct deposits and the offer is good in 22 states across the country. Your Zipcode will be used to determine if you are in a participating state.
Earn a $50 for making $500+ in direct deposits into the Virtual Wallet account; $200 for receiving $2,000+ in direct deposits into the Virtual Wallet with Performance Spend account; or $300 for receiving $5,000+ in direct deposits into the Virtual Wallet with Performance Select account.
To waive the Virtual Wallet monthly maintenance fee ($7), earn $500+ in monthly direct deposits to the Spend account or maintain a $500+ monthly balance across the Spend + Reserve accounts. If you’re 62 or older, the fee is automatically waived.
This account is available for people who reside in CA, TX, AZ, NM, CO, PA, FL, OH, WV, DE, NJ, SC, NC, GA, KY, IN, MI, IL, MD, DC, WV, WI.
PNC Virtual Wallet Checking Pro
- Geographic based
- No minimum balance to open
- No minimum balance to open
PNC bonus offers are based on amounts of qualifying direct deposits, and this offer is good in specific states throughout the country. Your ZIP Code will be used to determine if you are in a participating state.
Regardless of whether you open the Virtual Wallet Checking Pro account with Spend only (checking account) or with Spend, Reserved & Growth (savings account), you will be eligible for a $200 bonus should you receive $2,000 in direct deposits
Unlike the Virtual Wallet account above offered in other states, this account does not charge a monthly service fee.
This offer is only available to residents of AR, CT, IA, ID, KS, LA, MA, ME, MN, MS, MT, NE, NH, ND, NV, OK, OR, RI, TN, UT, VT, WA and WY.
Key Bank Smart Checking Account
- No monthly maintenance fees
- No minimum balance requirement
- Access to 40,000 ATMs nationwide
The Key Smart Checking account is a great account because of its lack of fees. While the account does not earn interest, most interest-bearing checking accounts hold a negligible APY anyway. Key Bank’s partnership with Allpoint gets you access to more than 40,000 ATMs nationwide.
Key Bank Advantage Checking Account
- ATM fee rebates
- Variable APY
- Access to 40,000 ATMs nationwide
The Key Advantage Checking account is an ideal option for the APY, but if a small interest rate on your checking account is not crucial to you and you can’t maintain $10,000 across Key accounts, stick with the Smart Checking account. Key Bank’s partnership with Allpoint gets you access to more than 40,000 ATMs nationwide.
Key Bank Privilege Checking Account
- ATM fee rebates
- Variable APY
- Access to 40,000 ATMs nationwide
The Key Privilege Checking account is ideal for ATM users. Not only do you get access to 40,000 in-network ATMs, but you can also get $6 in out-of-network ATM fee rebates each month. The interest rate is variable and usually low, and the monthly maintenance fee is steep ($25) and can be challenging for many to waive. But hey, at least the checks are free from this account. For those who invest through Key, this account does automatic daily sweeps and preferred pricing.
Key Bank Privilege Select Checking
- Unlimited ATM fee rebates
- Variable APY
- Access to 40,000 ATMs nationwide
The Key Privilege Select Checking account is ideal for ATM users with unlimited ATM fee reimbursements for out-of-network usage. The interest rate is variable and usually low, and the monthly maintenance fee is steep ($50) and can be challenging for many to waive. But hey, at least the checks are free from this account. For those who invest through Key, this account does automatic daily sweeps and preferred pricing.
How to Search for a Checking Account Bonus on Your Own
Instead of listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.
But maybe you’re interested in banking with your local credit union, opening a small business checking account or exploring what investment accounts are available. There are often cash bonuses attached to these accounts too.
Banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.
- Check the bank website first. Sometimes it’ll advertise its offers with a blaring promo code. This is rare, but it’s worth a quick check — it could save you a ton of time.
- Reach out to customer service. Let them know you’re shopping for a new account, and you’d like to know if the bank is running any promotions. More often than not, the nice representative will send you a special link.
- Google the best bank account bonuses. You’ll likely dig up some offers from third-party sites, so make sure the offer:
- Hasn’t expired.
- Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. Read some online reviews.
- Doesn’t require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000.
- Reach out to your own network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.
Overall, be smart. Don’t let the promise of a cash bonus blind you. Read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties. With the proper due diligence, you can earn a checking account bonus — or any other bank promotion — while also choosing the best bank for you.
Will Opening a Bank Account Hurt Your Credit Score?
If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and therefore have no effect on your credit score, unless you have an outstanding negative balance that the bank turns over to a collection agency.
Sometimes when you go to open a new account, banks will do a soft credit check. However, that won’t affect your credit score.
Timothy Moore covers bank accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.
Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
So, you’re looking for a new bank account.
You’ve got several factors to consider — ATM access, interest rates, monthly account fees, minimum balances, online bill payments and more.
Another factor: sign-up promotions and bonuses. Banks and credit unions frequently run promotions to entice prospective customers to open a new account — and they often come with cash. You have to meet specific criteria, such as making a minimum opening deposit, and generally the account must remain open for a certain amount of time — at least long enough to earn the cash bonus.
Many banks offer such sign-up bonuses, but often, they aren’t advertised. We did some digging to find the best bank promotions currently on offer.
Keep an eye on what each promotion requires, as well as any limitations. Recurring direct deposits and maintaining a minimum balance are common requirements in securing bank bonuses. Also pay attention to any monthly fees the account might carry; over time, these could weigh out the actual cash bonus. Otherwise, happy bank bonus shopping!
17 Bank Promotions That Give you Cash
The Aspiration Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 5% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup. You can access your paycheck up to two days early and earn up to 1.00% APY on your savings.
The Aspiration Plus Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 10% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup and get carbon offsets for your gas purchases with Planet Protection. You can access your paycheck up to two days early and earn up to 5.00% APY on your savings.
The Chase Total Checking account gets you access to more than 4,700 branches nationwide, plus 16,000 ATMs. The easy-to-use mobile app is highly rated. While Chase does charge a $12 monthly service fee, you can waive it by earning $500+ in monthly direct deposits, maintaining a daily balance of $1,500+ or having $5,000 across all your Chase accounts at the start of each day. Any of these options qualify you for the $225 checking account bonus offer while avoiding the monthly fee.
The TD Bank Beyond Checking Account’s monthly maintenance fee is steep at $25, but you have three easy ways to waive it (the $2,500 daily balance might be the easiest). Beyond Checking offers two overdraft fee reimbursements a year and no ATM fees, even for out-of-network ATMs (as long as you’ve got that $2,500 balance). Though the account boasts that it earns interest, the growth is inconsequential at 0.01% APY.
The TD Bank Beyond Checking Account’s monthly maintenance fee is steep at $25, but you have three easy ways to waive it (the $2,500 daily balance might be the easiest). Beyond Checking offers two overdraft fee reimbursements a year and no ATM fees, even for out-of-network ATMs (as long as you’ve got that $2,500 balance). Though the account boasts that it earns interest, the growth is inconsequential at 0.01% APY.
Though not technically a bank, Chime is becoming increasingly popular as an online financial institution for banking customers of all ages. Top features include early access to direct deposit, fee-free overdraft, 60,000+ ATMs, a 0.50% APY¹ — 8x the national average² — for the high-yield savings and plenty of features to automatically grow your savings.
The Ultimate Opportunity Savings Account from Alliant Credit Union has a lot to like: 80,000+ fee-free ATMs, no monthly fees if you opt in to online statements, a leading mobile app, and a strong APY at 0.55%.
Bank of America’s Advantage account is broken into three tiers: SafeBalance Banking, Plus Banking, and Relationship Banking. SafeBalance boasts no overdraft fees or non-sufficient funds fees; Plus offers multiple ways to waive the monthly service fee; and Relationship earns interest (though the percentage is quite low).
Smart Advantage is BMO Harris’ most popular checking account. It requires no minimum balance, charges no monthly fees when you opt for paperless statements and gets you fee-free access to 40,000+ ATMs nationwide with the Allpoint network.
Like Smart Advantage, BMO Harris’ Smart Money has no minimum balance required. It’s also noteworthy for having no overdraft or NSF fees. With this account, you will get unlimited fee-free transactions at in-network ATMs (40,000+ nationwide). However, you’ll pay a monthly fee if you’re 25 or older.
The highest bonus at BMO Harris comes from the Premier Account with Relationship Packages that reward you with more perks for banking more with BMO. The account earns interest, and the amount you earn increases with the amount of funds in the account. You also get unlimited access to any ATMs, in-network or not.
Fifth Third’s checking account boasts immediate funds for all check deposits, Extra Time for overdraft fee avoidance, early paycheck access, no minimum balance and no hidden fees. The account also offers basic fraud protection services and unlimited check writing.
The Discover Bank Online Savings Account offers a competitive APY (0.40%) with interest compounded daily instead of monthly. THere’s no monthly fee with Discover, no minimum deposit and no insufficient funds fee. All in all, not a bad offer.
Huntington’s Asterisk-Free Checking Account doesn’t pay out any interest, but the lack of a monthly maintenance fee does make it appealing for an easy checking account. Key features include mobile banking, the No Overdraft Fee $50 Safety Zone and the 24-Hour Grace Overdraft and Return Fee Relief.
While the Huntington 5 account does have a monthly $5 fee, you can waive it by having $5,000 across accounts with Huntington. By upgrading to this account, you’ll get a higher bonus and ear 0.02% interest on your balance. Plus, you get five free ATM withdrawals.
The HSBC Premier account provides one of the best checking account offers at $450, but it’s also a lot less attainable for average Americans. The $75K minimum balance across all HSBC accounts and investments, for example, is a hard criterion to meet to waive the monthly fee. Some more attainable accounts include Advance, Choice Checking and Basic Banking, but you’ll lose out on the bonus opportunity.
PNC bonus offers are based on amounts of qualifying direct deposits and the offer is good in 22 states across the country. Your Zipcode will be used to determine if you are in a participating state.
Earn a $50 for making $500+ in direct deposits into the Virtual Wallet account; $200 for receiving $2,000+ in direct deposits into the Virtual Wallet with Performance Spend account; or $300 for receiving $5,000+ in direct deposits into the Virtual Wallet with Performance Select account.
To waive the Virtual Wallet monthly maintenance fee ($7), earn $500+ in monthly direct deposits to the Spend account or maintain a $500+ monthly balance across the Spend + Reserve accounts. If you’re 62 or older, the fee is automatically waived.
This account is available for people who reside in CA, TX, AZ, NM, CO, PA, FL, OH, WV, DE, NJ, SC, NC, GA, KY, IN, MI, IL, MD, DC, WV, WI.
PNC bonus offers are based on amounts of qualifying direct deposits, and this offer is good in specific states throughout the country. Your ZIP Code will be used to determine if you are in a participating state.
Regardless of whether you open the Virtual Wallet Checking Pro account with Spend only (checking account) or with Spend, Reserved & Growth (savings account), you will be eligible for a $200 bonus should you receive $2,000 in direct deposits
Unlike the Virtual Wallet account above offered in other states, this account does not charge a monthly service fee.
This offer is only available to residents of AR, CT, IA, ID, KS, LA, MA, ME, MN, MS, MT, NE, NH, ND, NV, OK, OR, RI, TN, UT, VT, WA and WY.
The Key Smart Checking account is a great account because of its lack of fees. While the account does not earn interest, most interest-bearing checking accounts hold a negligible APY anyway. Key Bank’s partnership with Allpoint gets you access to more than 40,000 ATMs nationwide.
The Key Advantage Checking account is an ideal option for the APY, but if a small interest rate on your checking account is not crucial to you and you can’t maintain $10,000 across Key accounts, stick with the Smart Checking account. Key Bank’s partnership with Allpoint gets you access to more than 40,000 ATMs nationwide.
The Key Privilege Checking account is ideal for ATM users. Not only do you get access to 40,000 in-network ATMs, but you can also get $6 in out-of-network ATM fee rebates each month. The interest rate is variable and usually low, and the monthly maintenance fee is steep ($25) and can be challenging for many to waive. But hey, at least the checks are free from this account. For those who invest through Key, this account does automatic daily sweeps and preferred pricing.
The Key Privilege Select Checking account is ideal for ATM users with unlimited ATM fee reimbursements for out-of-network usage. The interest rate is variable and usually low, and the monthly maintenance fee is steep ($50) and can be challenging for many to waive. But hey, at least the checks are free from this account. For those who invest through Key, this account does automatic daily sweeps and preferred pricing.
Instead of listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.
But maybe you’re interested in banking with your local credit union, opening a small business checking account or exploring what investment accounts are available. There are often cash bonuses attached to these accounts too.
Banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.
Overall, be smart. Don’t let the promise of a cash bonus blind you. Read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties. With the proper due diligence, you can earn a checking account bonus — or any other bank promotion — while also choosing the best bank for you.
If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and therefore have no effect on your credit score, unless you have an outstanding negative balance that the bank turns over to a collection agency.
Sometimes when you go to open a new account, banks will do a soft credit check. However, that won’t affect your credit score.
Timothy Moore covers bank accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.
Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
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