Unlocking Free Money: Top Bank Account Bonuses You Can Earn Now

Discover how to earn up to $600 by opening new bank accounts with a guide to the best bank account bonuses available in 2024. For more information, use a quick search below.

Who doesn’t love free money? Banks certainly think you do, which is why many are offering attractive bonuses for opening new accounts. These offers can seem almost too good to be true, but with some terms and conditions, they can provide a significant boost to your finances.

Earn Up to $600 with New Bank Accounts

Curious about how you can earn up to $600 just by opening a new bank account? While there are usually some conditions—such as maintaining a minimum balance or keeping the account open for a specified period—banks are eager to give away these bonuses to attract new customers.

If you're exploring new banking options, check out the eight highest-paying checking account bonuses available right now. These offers can give your balance a welcome boost.

Checking vs. Savings Accounts

When opening a bank account, you typically have two main choices: checking or savings. Here’s a quick breakdown:

• Checking Accounts: Ideal for everyday transactions, paying bills, and managing income deposits. They offer easy access to funds and allow for frequent transactions, including writing checks. Checking accounts are designed for short-term use and everyday expenses.
• Savings Accounts: Best for accumulating interest on funds you don’t need to access immediately. Savings accounts often have limits on withdrawals and transactions but offer higher interest rates compared to checking accounts. Many people use both accounts—one for daily transactions and another to earn interest on savings.

Banks vs. Credit Unions

When choosing where to bank, you'll decide between a traditional bank and a credit union. Here’s how they differ:

• Banks: These are large, for-profit institutions offering a broad range of financial services. They typically have a larger network of branches and ATMs, and excel in online banking services with user-friendly websites and apps. Their size often translates to greater convenience.
• Credit Unions: As non-profit organizations, credit unions are owned by their members and focus on serving their local communities or specific groups. They generally offer lower fees and better interest rates than banks. Credit unions also provide personalized customer service and allow members to vote on key decisions.

Top Bank Bonuses to Consider

• SoFi Checking and Savings Account: Earn up to $250 by opening a new account and setting up a qualifying direct deposit. Benefits include no account fees, no-fee overdraft coverage, and up to 15% cash back at local businesses.
• CITI Citigold Checking Account: New customers can receive up to $2,000 with a minimum deposit and balance requirement. This premium account also includes financial planning, preferential rates, and travel benefits.
• Chase Total Checking Account: Get up to $200 by opening a new account and setting up direct deposit within 90 days. Maintaining a minimum balance or setting up direct deposits can also waive monthly fees.
• Bank of America Advantage Plus Banking: Earn up to $100 by opening a new account and receiving qualifying direct deposits totaling $1,000 or more within 90 days.
• TD Bank Beyond Checking Account: Score up to $300 by opening an account and receiving qualifying direct deposits of $2,500 or more within the first 60 days. Enjoy waived maintenance fees and ATM fee reimbursements with a minimum balance.
• HSBC Premier Checking: Qualify for a $500 bonus by maintaining recurring direct deposits totaling $10,000 a month for three consecutive months. Benefits include international account access and no foreign transaction fees.
• U.S. Bank Smartly Checking: New customers can earn up to $600 by opening an account and completing direct deposits. Additional bonuses are available with a Standard Savings account and maintaining a minimum balance.
• Axos Bank Rewards Checking: Receive up to $150 with a new account by entering a promotional code and setting up direct deposits. Axos also offers competitive interest rates and no fees.

Maximize Your Benefits

With numerous options for new bank accounts offering substantial bonuses, you can take advantage of these offers to boost your finances. Whether you’re looking for a checking account or a savings account, consider all the factors, including fees, interest rates, and customer service, to find the best fit for your needs. If done right, you could be enjoying a significant financial reward just for opening a new account.