Here’s What You Should Know About Checking Account Bonuses

Opening a new checking account can come with more than just banking services — some banks in the US provide sign-up bonuses as an incentive for new customers. These offers typically range between $100 and $500 and may require setting up direct deposit, maintaining a minimum balance, or meeting other eligibility criteria. While terms vary by institution, understanding the conditions and comparing different banks can help you find an option that fits your financial goals.

Here’s What You Should Know About Checking Account Bonuses Image by Gerd Altmann from Pixabay

How Do Checking Account Bonuses Work in 2025?

Checking account bonuses are promotional offers banks use to attract new customers. The process typically involves opening a new account and meeting specific requirements within a set timeframe. Banks design these offers to encourage long-term customer relationships, often requiring actions that demonstrate financial stability and engagement.

Common requirements include:

Establishing a direct deposit
Maintaining a minimum account balance
Completing a certain number of transactions
Keeping the account open for a specified period

What Banks Typically Require to Qualify for a Bonus

Qualification criteria vary by institution, but most banks have standard requirements. These often include:

Being a new customer (not having an account with the bank recently)
Making an initial minimum deposit
Setting up direct deposit from an employer
Avoiding account closure within a specific timeframe

Common Bonus Amounts and How to Claim Them

Bank	Bonus Amount	Minimum Requirements	Timeframe
Chase	$200	$500 direct deposit	90 days
Bank of America	$100	$1,000 initial deposit	60 days
Wells Fargo	$300	$500 monthly deposits	90 days
Capital One	$250	$1,000 initial deposit	120 days

Prices, rates, or cost estimates mentioned in this article are based on the latest available information but may change over time. Independent research is advised before making financial decisions.

Pros:

Quick financial boost
Opportunity to try a new bank
Potential for better banking services
Additional income with minimal effort

Cons:

Strict qualification requirements
Potential fees if requirements aren’t met
May impact credit score
Limited-time offers

Things to Know Before Opening a New Bank Account

Before jumping into a new checking account with a bonus, consider:

Read the fine print carefully
Understand all associated fees
Check minimum balance requirements
Evaluate long-term banking needs
Consider potential impact on credit score

Checking account bonuses can be an excellent way to earn extra money, but they require careful consideration and strategic planning. Always compare multiple offers and ensure the account meets your broader financial goals beyond the initial bonus.

Finance