So, you’re looking for a new bank account.
You’ve got several factors to consider — including bank promotions. Wouldn’t it be nice to fund your shiny new account with some extra cash?
Many banks offer sign-up bonuses. No, these bonuses aren’t always advertised, but we did some digging and found you some hefty cash offers.
Best Bank Promotions of April 2020
We’ve spent days researching the best cash bonuses available this month so you don’t have to. Below, you’ll find our favorite checking and savings account bonuses.
Keep an eye on what it takes to qualify, as well as any limitations. Direct deposit and minimum balances are commonly factors in securing these bonuses. Otherwise, happy bank bonus shopping!
1. Chase Total Checking Account: $200
To qualify: Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit.
Limitations: Must be a new Chase customer. Must direct deposit $500 a month in this and/or any linked Chase accounts or have a balance of $1,500 a month each day to waive the $12 monthly service fee.
Sign up: Visit this Chase Total Checking page to apply online, or enter your email address to get a unique coupon to take with you to open your account at any Chase branch while the offer is valid.
Offer expires July 20, 2020.
2. Chase Premier Plus Checking Account: $300
To qualify: Get a $300 bonus when you open a new Chase Premier Plus Checking account and set up direct deposit.
Limitations: Must be a new Chase customer. Must have a balance of $15,000 a month in this and/or any linked Chase accounts or have automatic payments for your linked Chase mortgage account to waive the $25 monthly service fee.
Sign up: Visit this Chase Premier Plus Checking page to apply online, or enter your email address to get a unique coupon to take with you to open your account at any Chase branch while the offer is valid.
Offer expires July 20, 2020.
3. TD Bank Beyond Account: $300
To qualify: You must receive a total of $2,500 or more via direct deposit within 60 days of opening your new account. Then, the $300 bonus will be deposited into your account within 95 days of opening.
Limitations: This account is not available in every state, so be sure to check. Additionally, there’s no minimum to open an account, but you must maintain a minimum daily balance of $2,500 to avoid the $25 monthly maintenance fee.
Sign up: Visit this TD Checking page, and enter your city and state. Click the orange “open account” button, and follow the instructions to open a TD Beyond Checking account.
No offer expiration.
4. TD Bank Convenience Checking Account: $150
To qualify: You must receive direct deposits totaling $500 or more into your new account within 60 days of opening. The $150 bonus will be deposited into your account within 95 days of opening.
Limitations: This account is not available in every state, so be sure to check. There’s no minimum balance requirement to open an account, but you should maintain a $100 minimum daily balance to avoid the $15 monthly maintenance fee.
Sign up: Visit this TD Checking page. Tab over to the correct account, click the orange “open account” button, and follow the instructions to open a TD Convenience Checking account.
No offer expiration.
5. Wells Fargo Everyday Checking Account: $400
To qualify: After opening your new account, you must make a minimum deposit of $25. Then you need to set up direct deposit and receive at least $4,000 in your account via direct deposit within 90 days of opening.
Limitations: The offer is available in Dallas, Denver, Houston, Miami, Orlando, Phoenix, Seattle and Washington, D.C. The offer is only valid when you open an account online. If you don’t qualify for the Everyday Checking account but you do qualify for the Opportunity Checking, you can apply this bonus to that account.
Sign up: Open your Wells Fargo Everyday Checking Account here. Your bonus will deposit into your account within 30 calendar days of meeting the requirements.
Offer expires July 31, 2020.
6. CIT Bank Savings Builder Account: Up to $300
Bonus: Up to $300
To qualify: Open a new account online with a minimum deposit of $100. Within the first 15 days, you must fund your account with $25,000 to $49,999 to earn a $150 bonus or $50,000 or more to earn a $300 bonus. You must maintain that minimum balance requirement for 90 calendar days after the 15-day funding period.
Limitations: If you already have a CIT Bank account, you must add an additional $25,000 to $49,000 to be eligible for the $150 bonus or an additional $50,000 to be eligible for the $300 bonus.
Sign up: Apply online using this link. Remember to use the promo code Spring20.
Offer expires May 30, 2020.
7. Unify Financial Credit Union: Up to $150
Bonus: Up to $150
To qualify: Open a new Unify Financial Credit Union account online here. You will receive an initial $50 bonus after the first statement cycle.
To earn another $50, you must establish a recurring AHC direct deposit of $500 or more each month within 60 days of opening the account.
You can earn the final $50 for a total bonus of $150 by earning a $1 bonus for each debit card transaction over $5 when using your new UNIFY Visa Debit Card within the first 60 days of opening the account; the debit card bonus maxes out at $50.
Limitations: You must live in Collin County, Texas.
Offer expires December 31, 2020.
8. Capital One 360 Performance Savings and 360 Checking: Up to $125
Bonus: Up to $125
To qualify: You can qualify for $25 or $100 with the Performance Savings account and $25 with the Checking account. Opening one does not require that you open the other.
- To earn a $25 bonus with the Capital One 360 Performance Savings account, deposit between $250 and $9,999.99 when opening the account.
- To earn a $100 bonus with the Capital One 360 Performance Savings account, deposit $10,000 or more when opening the account.
- To earn a $25 bonus with the Capital One 360 Checking account, deposit $250 or more when opening the account and make three debit card purchases or Zelle payments (or a combination of the two) within 45 days. The bonus will be deposited 50 days after opening should you meet the requirements.
Limitations: You cannot have an existing Capital One savings or checking product.
Sign up: Use this promotional link and click “open account” in green on your preferred account(s).
No offer expiration.
9. Bank of America Advantage Banking: $100
To qualify: Open one of the three available accounts using the offer code PSR100CIS. Set up and receive at least two direct deposits of $250 or more, each within 90 days of opening the account.
Limitations: This offer is good for those who don’t already have a personal checking account with Bank of America.
Sign up: Open one of Bank of America’s Advantage banking accounts through this link, using the promo code provided above. Choose from Bank of America Advantage SafeBalance Banking, Bank of America Advantage Plus Banking and Bank of America Relationship Banking. Each one requires different opening deposits but offers that same $100 bonus.
Offer expires June 30, 2020.
10. Huntington Bank Huntington 5 Checking Account: $200
To qualify: Deposit at least $1,000 within 60 days of opening your account. (No direct deposit requirement for this bank promotion!) Your account must stay open for 90 days.
Limitations: The offer is available to new Huntington customers located in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
Sign up: Head over to the Huntington Bank offers page and choose to sign up online or at a local branch.
Offer expires April 7, 2020.
How to Search for Bank Promotions on Your Own
In the spirit of not 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 up a small business checking account or finding the perfect investment account? There are often bonus offers attached to these account openings, too.
The 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’s website first. Sometimes it’ll advertise its promotions right there. This is rare, but it’s worth a quick check — it could save you a ton of time.
- If you don’t have any luck, reach out to the bank’s customer service team through phone, email or chat. Let them know you’re shopping for a new account, and you’d like to know if it’s running any promotions. More often than not, the nice representative will send you a special link.
- If this doesn’t work, turn to your trusty friend Google. Look for the best bank promotions. Because you’ll likely dig up some offers from third-party sites, you’ll want to take a few minutes to make sure the offer:
- Hasn’t expired.
- Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. You can even 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 and carry out 60 qualifying debit card purchases before the end of your first 30-day statement cycle.
- You can also reach out to your family, friends and social 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 that promise of an account bonus blind you. Also, read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties.
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 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 bank account, banks will do a soft credit check. However, that won’t affect your score.
Now, go enjoy your fresh new bank account and that nice cash bonus you’re about to pocket. Add it to your savings account, put it toward student loan payments or, heck, treat yourself!
*Chase Fine Print
Checking offer is not available to existing Chase checking customers, those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance. To receive the $150 checking bonus: 1) Open a new Chase Total Checking account, which is subject to approval; 2) Deposit $25 or more at account opening; AND 3) Have your direct deposit made to this account within 60 days of account opening. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. After you have completed all the above requirements, we’ll deposit the bonus in your new account within 10 business days. You can only receive one new checking account-related bonus per calendar year. Bonus is considered interest and will be reported on IRS Form 1099-INT.
Account Closing: If your checking account is closed within six months after opening, we will deduct the bonus amount at closing.
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.