Banks that offer money to open a checking account

Some banks and credit unions offer cash bonuses when you open a new checking account and meet their conditions — usually depositing a minimum amount within a set timeframe or setting up direct deposit. The bonus ranges from $50 to $500 depending on the bank and the account tier. Not every bank offers this, and the ones that do change their offers throughout the year.

The banks most likely to have current offers include Chase, Bank of America, Wells Fargo, Citi, and various regional banks and credit unions. Online banks like Ally, Charles Schwab, and Discover also run promotions periodically. The catch is that these offers are not permanent — a bank might run a $200 bonus for three months, then pause it, then restart it at a different amount.

To find what is available right now, you need to check each bank's website directly or search for "checking account bonus" plus the bank name. Comparison sites like Bankrate and DepositAccounts track current offers, though they update less frequently than banks do. If you see an offer you want, move quickly — banks often limit how many accounts can claim the bonus or how long the promotion runs.

Key Takeaways

  • Banks offer checking account bonuses ranging from $50 to $500, but the specific amount and terms change several times a year.
  • The most common condition is depositing a minimum amount (often $500 to $2,500) within 30 to 90 days of opening the account.
  • Some banks require direct deposit to be set up, while others only require the deposit itself — read the terms carefully before opening.
  • Bonus offers are not advertised equally; you may see different offers on the bank's homepage, in an email, or through a comparison site.
  • You can only claim a bonus once per bank within a set period (usually 12 months), so timing matters if you plan to open multiple accounts.

How the deposit requirement works

Most bonuses require you to deposit a specific amount into the new account within a specific window — typically 30, 60, or 90 days from opening. The deposit can come from an external account (another bank, a paycheck, a transfer) or sometimes from a linked savings account at the same bank. The money does not have to stay in the account; you can withdraw it when ready after the bonus posts.

The minimum deposit amount varies widely. Chase checking bonuses often require $500 to $2,500. Bank of America may require $10,000 or more for higher-tier bonuses. Smaller regional banks and credit unions sometimes have lower minimums, $100 to $500. If you do not meet the deposit requirement by the important date, the bonus straightforward does not post — the bank will not penalize you, but you lose the money.

Direct deposit is a separate condition on some offers. If the terms say "direct deposit required," it means your employer or a benefits program (Social Security, unemployment, tax refund) must deposit money into the account electronically. A one-time transfer from another bank does not count. If direct deposit is required and you cannot set it up, that particular offer is not for you.

When the bonus actually appears in your account

The bonus does not post when ready. Most banks add it to your account 30 to 90 days after you meet the final condition — usually after the deposit clears and the required time window closes. If an offer says "deposit $1,000 within 60 days," the bank will check on day 61 whether you did it, then add the bonus sometime in the following weeks.

Some banks are faster; others take longer. Chase typically posts within 10 business days of meeting conditions. Bank of America may take 30 days or more. Credit unions vary widely. If the bonus does not appear by the date the bank stated, contact customer service with your account number and the promotion code (if one was provided). Banks sometimes require you to reference the specific offer to confirm you are may be able to access.

Comparing offers across banks

The bonus amount is only one part of the decision. A $300 bonus on an account with a $15 monthly fee costs you money if you do not maintain the minimum balance. A $50 bonus on an account with no fees and no minimum is often the better deal. Look at the full account terms: monthly maintenance fees, overdraft fees, minimum balance requirements, ATM access, and whether the bank charges for paper statements or other services.

Online banks typically have lower fees and no minimum balances, but they have no physical branches. Regional banks and credit unions may offer better customer service and lower fees but smaller bonuses. National banks offer more ATM locations and branches but often charge more. The bonus should not be the only reason you choose a bank — you will use the account for months or years after the bonus is gone.

Restrictions on who can claim a bonus

Banks limit bonus claims to prevent people from opening multiple accounts and claiming the same bonus repeatedly. The most common restriction is that you cannot claim a bonus if you have opened an account at that bank within the past 12 months. Some banks extend this to 24 months. A few banks check whether you already have an account with them — if you do, you may not be may be able to access for a new account bonus, even if it is a different account type.

You can claim bonuses from different banks in the same year with no problem. Opening a checking account at Chase and a separate one at Bank of America in the same month is fine; you just cannot open two Chase checking accounts and claim the bonus twice. If you are unsure whether you are may be able to access, call the bank before opening the account.

How to find current offers

Start by visiting the bank's website directly. Most banks display current promotions on their homepage or in a dedicated "Offers" section. The offer you see on the website is usually the one available to you, though some banks run different promotions through email or partner sites.

Comparison sites like Bankrate, DepositAccounts, and NerdWallet track checking account bonuses across multiple banks. These sites update regularly but not in real time, so always verify the offer on the bank's own website before opening an account. The terms and bonus amount on the bank's site are the ones that count.

If you receive an email from a bank offering a bonus, that offer is usually legitimate, but check the sender's email address to make sure it is from the bank itself, not a phishing attempt. Banks sometimes send different offers to different customers based on their location or banking history.

What happens if you close the account early

If you close the account within a few months of opening it, the bank may claw back the bonus. Most banks require you to keep the account open for 90 to 180 days after the bonus posts. If you close it before that window ends, they will deduct the bonus from your final balance. Read the terms carefully — some banks state this clearly, while others bury it in the fine print.

If you need to close the account for a legitimate reason (moving, changing banks, account error), contact the bank and ask whether the clawback applies. Some banks will waive it in certain situations. If the clawback does explore, you will owe the bank the bonus amount, which they will take from any remaining balance or pursue as a debt.

Frequently Asked Questions

Can I claim a bonus if I already have a savings account at that bank?

Usually yes, as long as you do not already have a checking account there. Most banks restrict bonuses to new checking accounts specifically, not to new customers. If you have a savings account but no checking account, you are typically may be able to access. Call the bank to confirm before opening.

Do I have to keep the bonus money in the account, or can I withdraw it?

You can withdraw it when ready after it posts. The bonus is yours once it appears in your account. The bank's restriction is usually on keeping the account open, not on keeping the money in it. You can move the bonus to another account or spend it without losing it.

What if the bank changes the offer after I open my account?

You are locked into the terms that were in effect when you opened the account. If a bank raises the bonus to $300 after you opened at $200, you get $200. If it lowers the bonus, you still get $200. The offer you saw and accepted is the one that applies to you.

Can I open multiple accounts at different banks in the same month to collect multiple bonuses?

Yes. There is no rule against opening checking accounts at Chase, Bank of America, and Citi in the same month and claiming all three bonuses. Each bank's restriction applies only to that bank — you cannot claim the same bank's bonus twice within 12 months, but you can claim different banks' bonuses whenever you want.

How do I know if an offer I found online is real?

Go to the bank's official website directly (type the URL yourself, do not click a link from an email or ad) and look for the offer there. If it appears on the bank's site, it is real. If you can only find it on a third-party site and not on the bank's own website, contact the bank to confirm before opening an account.