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For those looking to open a new checking or online savings account, you’ll find that some banks are currently providing an additional financial incentive giving your funds a new home — as much as an extra $3,000 for a checking account bonus or a saving account bonus.
You can earn up to $3,000 for opening a Chase Private Client Checking account, or upgrading to it from a different Chase checking account.
Bonus amount: $1,000, $2,000 or $3,000
Expiration date: April 16, 2025
Who is eligible: Anyone who hasn’t earned a Chase bonus or used a Chase promotional rate in the last 12 months.
Requirements to earn the bonus: Meet with a Private Client Banker to open a new Chase Private Client Checking account or upgrade an existing account. Then, deposit new funds into the new account or a combination of the new account, a Chase savings account or eligible J.P. Morgan Wealth Management accounts. Earn $1,000 for depositing between $150,000 and $249,999; earn $2,000 if you deposit between $250,000 and $499,999; earn $3,000 if you deposit more than $500,000. Your balance 45 days after opening the account will determine your bonus amount. You must also keep your money deposited for 90 days.
Where to apply: At a branch by meeting with a Private Client Banker.
When you’ll get it: Within 40 days after meeting all of the requirements.
What we like: As a Chase Private Client customer, you won’t pay ATM fees worldwide, whether you use a Chase ATM or a non-network one.
What to watch for: You could earn more, in the same amount of time, by depositing your funds in a high-yield savings account that’s FDIC-insured. If you keep $150,000 in a high-yield account that earns 4 percent APY, you will earn over $1,900 in interest in four months, compared to the $1,000 bonus you’d get here after keeping your money deposited for about that long. Also, note that the Chase Private Client checking account has a $35 monthly maintenance fee, though there are a few ways to waive it, like keeping at least $150,000 more in the account.
Huntington Bank currently offers two personal checking account bonuses – $400 for opening the Perks Checking Account and $600 for opening a Platinum Perks Checking account.
Bonus amount: $600 or $400.
Expiration date: Feb. 7, 2025.
Who is eligible: New customers only. If you are a current Huntington customer, or closed a checking account within the last six months, you aren’t eligible for this bonus.
Requirements to earn the bonus: Earn $400 when you open Perks checking account, receive at least $500 worth of qualifying direct deposit within 90 days and keep the account open for at least 90 days. Or, earn $600 by opening a Platinum Perks Checking account, depositing at least $25,000 in new-to-Huntington funds and keeping the account open for at least 90 days.
Where to get it: Online through the bonus offer page or at a branch.
When you’ll get it: 14 days after meeting all of the requirements above.
What we like: Huntington Bank checking accounts have early direct deposit, where you can receive your qualifying direct deposit up to two days early..
What to watch for: These bonuses are valid only for residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia and Wisconsin.
You can earn $300 for opening one of the qualifying BMO checking accounts: Smart Advantage, which has no monthly maintenance fee, or the BMO Smart Money Checking Account, which has no overdraft fees.
Bonus amount: $300
Expiration date: Feb. 3, 2025
Who is eligible: New BMO customers or anyone who hasn’t closed a BMO personal checking account in the past 12 months.
Requirements to earn the bonus: Open either a BMO Smart Advantage Checking or a BMO Smart Money Checking account and receive $4,000 worth of qualifying direct deposits within your first 90 days of opening the account.
Where to apply: Online.
When you’ll get it: About 100 days after account opening.
What we like: Both the BMO checking accounts are a part of the Allpoint network, which allows you to use more than 40,000 fee-free ATMs.
What to watch for: The BMO Smart Money Checking account has a $5 monthly service fee if you’re 25 years old or older.
You can earn either a $100, $200 or $400 bonus with a new Virtual Wallet account, depending on which tier of account you want to open: Virtual Wallet, Virtual Wallet with Performance Spend or Virtual Wallet with Performance Select. Each account comes with different features, and different fees.
Bonus amount: $400, $200 or $100 bonus.
Expiration date: March 31, 2025.
Who is eligible: New customers who have not had a consumer checking account at PNC during the previous 12 months. You must also not have closed an account within the past 90 days or received a bonus from PNC in the past two years to be eligible.
How to get it: Earn $100 by opening a Virtual Wallet and getting qualifying direct deposits of $500 or more. Earn $200 by opening a Virtual Wallet with Performance Spend and receiving qualifying direct deposits of $2,000 or more. Earn $400 by opening a Virtual Wallet with Performance Select and receiving qualifying direct deposits of $5,000 or more. No matter which account you open, you must receive relevant direct deposits within 60 days of account opening.
Where to get it: Online or in a branch.
When you’ll get it: 60-90 days after you meet the bonus requirements.
What we like: The Virtual Wallet accounts are like three accounts in one: two checking accounts called Spend and Reserve, with different features, and a savings account called Growth. If you like categorizing your money, you might enjoy this unique setup.
What to watch for: All these accounts charge fees, though they are waivable. Plus, it’s important to note that these bonuses are not available in all locations. Enter your zip code on the PNC website to see what accounts and bonuses are available in your area.
You can earn a $300 bonus for opening one of three eligible Bank of America checking accounts: Advantage Relationship Banking, Advantage Plus Banking or SafeBalance Banking account.
Bonus amount: $300
Expiration date: Jan. 31, 2025
Who is eligible: New customers. You are not eligible for this offer if you’ve had a Bank of America personal checking account, or been a co-owner on an account, within the past 12 months.
Requirements to earn the bonus: Open either an Advantage Relationship Banking, Advantage Plus Banking or SafeBalance Banking account. You must use the offer code LHR300CIS when opening the account to qualify for a bonus. Receive at least $2,000 worth of eligible direct deposits into your new checking account within the first 90 days of opening the account.
Where to apply: Online.
When you’ll get it: Within 60 days of meeting all requirements.
What we like: Bank of America is one of the largest banks in the US and accordingly, provides its customers with access to over 3,700 branches and 15,000 ATMs.
What to watch for: All of the bonus-eligible accounts come with monthly fees, though there are ways to waive them.
You can earn a $300 bonus for opening a new Key Smart Checking account and making at least one direct deposit of at least $1,000.
Bonus amount: $300
Expiration date: March 21, 2025.
Who is eligible: Anyone who hasn’t had a KeyBank personal checking account in the last 12 months.
Requirements to earn the bonus: Open a Key Smart Checking account and make one direct deposit of at least $1,000 within the first 60 days of opening the account. If you open the account from the bonus offer page, you don’t have to enter a code. If you open it from somewhere else on the site, you’ll need to use the code KDSA1224 in the application process to be eligible for the bonus.
Where to apply: Online.
When you’ll get it: Within 60 days of meeting the requirements.
What we like: This checking account has no monthly fee and a low minimum deposit requirement. Plus, you have the option of setting up automatic savings transfers from every debit card transaction into a KeyBank savings account, which could help you build both a savings habit and your actual savings.
What to watch for: Though you can set up automatic transfers, the standard savings account from KeyBank doesn’t earn much interest.
New checking customers can earn $300 at Wells Fargo with an Everyday Checking account.
Bonus amount: $300.
Expiration date: April 16, 2025.
Who is eligible: You have to be a new Wells Fargo checking customer who hasn’t had a Wells Fargo checking account during the previous 12 months.
Requirements to earn the bonus: Open an Everyday Checking account (a minimum $25 deposit is required) through the offer page on Wells Fargo’s website. Then, receive a total of $1,000 in direct deposits in the first 90 days of having the account.
Where to apply: Online or in a branch, with a code you receive in an email.
When you’ll get it: Within 30 days after the qualification period is over. The qualification period is 90 days from account opening.
What we like: The Wells Fargo Everyday Checking account has early direct deposit, which allows you to get your eligible direct deposit up to two days earlier than the standard paydays.
What to watch for: There is a pretty steep $10 monthly fee for this account, though there are multiple ways to waive it.
New customers can earn either $50 or $300 with a new SoFi Checking and Savings account and direct deposits.
Bonus amount: $300 or $50.
Expiration date: Jan. 31, 2026.
Who is eligible: Any new SoFi customer or current customer that has never previously had a direct deposit credited into their SoFi Checking and Savings account or the now-discontinued SoFi Money account.
Requirements to earn the bonus: Open a SoFi Checking and Savings account and set up direct deposits. If you receive between $1,000 – $4,999 in direct deposits, you’ll earn a $50 bonus. If you receive $5,000 or more in direct deposits, you’ll earn the $300 bonus. You have 25 days after the first direct deposit posts to the account to get enough qualifying direct deposits to your bonus.
Where to apply: Online.
When you’ll get it: Within 7 business days after the bonus period ends (the bonus period is the 25-day period in which you receive direct deposits that qualify you for the bonus).
What we like: SoFi’s Checking and Savings account is a dual account – when you open one, you get the other automatically. Both accounts earn solid yields.
What to watch for: You have to have direct deposit set up to earn the higher APY in the savings account.
Chase has multiple bonus, including one for its Chase Total Checking account, which has relatively low requirements to earn a sizeable bonus.
Bonus amount: $300
Expiration date: April 16, 2025
Who is eligible: People who don’t currently have a Chase checking account, individuals who haven’t had their accounts at Chase closed with a balance below zero in the last three years at Chase or people who haven’t had their accounts closed within the past 90 days.
Requirements to earn the bonus: Open a Chase Total checking account on the bonus offer page and make qualifying direct deposits of at least $500 during the first 90 days.
Where to apply: Online or by bringing in a coupon with the bonus code to a branch (you can get the coupon emailed to you through the bonus offer webpage).
When you’ll get it: 15 days after you meet all requirements.
What we like: Chase’s large branch network can be convenient for those who like to do their banking in person.
What to watch for: There’s a $12 monthly service fee if you don’t meet one of the requirements to waive it.
Chase has two checking accounts that could get you a $100 bonus: Secure Banking and College Checking.
Bonus amount: $100
Expiration date: April 16, 2025
Who is eligible: These bonuses are not available to existing Chase customers. You also can’t earn this bonus if you’ve closed a Chase account within the last 90 days or if you closed an account with a negative balance in the last 3 years. You’re ineligible if you’ve received a checking account bonus in the last two years from Chase.
Requirements to earn the bonus: You can earn either bonus by making 10 eligible transactions within 60 days of account opening.
Where to apply: Online or by bringing in a coupon with the bonus code to a branch (you can get the coupon emailed to you through the bonus offer webpage).
When you’ll get it: For both bonuses, you’ll get the bonus 15 days after completing the qualifying transactions.
What we like: Chase’s large branch network can be convenient for those who like to do their banking in person.
What to watch for: The college checking account doesn’t have a monthly service fee as long as you’re enrolled in college. After that, there’s a $12 fee, though it can be waived. The Secure Banking has a $4.95 monthly maintenance fee, but it can also be waived.
You can earn $300 by opening a new TD Beyond Checking account or $200 by opening a TD Complete Checking account and completing certain requirements.
Bonus amount: $300 or $200
Expiration date: Jan. 31, 2025
Who is eligible: New TD Bank customers or individuals who do not currently have a TD Bank account and haven’t closed a TD Bank account in the previous 12 months. You will not be eligible if you’ve ever received a bonus for opening a checking account at TD Bank, at any time in the past.
Requirements to earn the bonus: To earn the $300 bonus, you’ll need to open the TD Beyond Checking account and receive at least $2,500 worth of eligible direct deposits within your first 60 days with the account. To earn $200, you’ll need to open the TD Complete Checking account bonus and receive $500 worth of eligible direct deposits during your first 60 days with this account.
Where to apply: Online.
When you’ll get it: No later than 180 days after opening your TD Bank checking account.
What we like: The TD Bank Beyond Checking account reimburses fees incurred at out-of-network ATMs and you can get reimbursed for an international or domestic wire each statement month.
What to watch for: Both accounts have a monthly maintenance fee, though it can be waived.
Capital One is offering a $250 bonus for new 360 Checking account customers.
Bonus amount: $250
Expiration date: N/A
Who is eligible: New Capital One checking customers who haven’t previously had a Total Control Checking account, Simply Checking account or a 360 Checking account.
Requirements to earn the bonus: Open a new 360 Checking account at Capital One using the CHECKING250 promotional code. Receive two eligible direct deposits of at least $500 during the first 75 days that you have this account.
Where to apply: Online.
When you’ll get it: Within the first 135 days that you have this new account and only after you’ve met the requirements.
What we like: A Capital One checking account gives you access to more than 70,000 ATMs that don’t charge you a fee for using them.
What to watch for: This account earns a little interest, but if you’re after a higher APY, look at other online checking accounts like Ally or SoFi.
You can open a new MyChoice Premium Checking account, MyChoice Plus checking account or an EZChoice checking account to earn a bonus at M&T Bank.
Bonus amount: $200, $150, $100.
Expiration date: March 31, 2025.
Who is eligible: You cannot earn this bonus if you’ve received a checking account bonus from M&T in the last 12 months.
Requirements to earn the bonus: Open an account using the promotional code. Receive at least $500 worth of eligible direct deposits within 90 days of opening the account.
Where to apply: Online or in a branch.
When you’ll get it: Within 90 days of completing the requirements.
What we like: The requirements to earn these bonuses are on the low side.
What to watch for: These bonuses aren’t available in all locations. Plus, there’s a $50 early account closure fee if you don’t keep this account open for at least 180 days.
With the KeyBank Key Select Checking account, you’re eligible to earn an annual bonus of $100, not just a one-time bonus. But you earn it at the end of a full year.
Bonus amount: $100 annual bonus
Expiration date: N/A
Who is eligible: Customers who open a new Key Select Checking account.
Requirements to earn the bonus: Open a Key Select Checking account and have direct deposits totaling at least $60,000 at the end of the year. The bank will start tracking your direct deposits after your second statement cycle. You don’t have to have deposits coming every month, but you must have at least one direct deposit come in during the final two months of your bonus evaluation period. If you keep meeting these requirements, you’ll earn $100 every year.
Where to apply: Online or in a branch.
When you’ll get it: Within 30 days of meeting the requirements at the end of the 12-month period.
What we like: Unlike most of the other bonuses on this list, this is a continuing bonus. If you can easily meet the requirements, it’s a nice way to earn some extra cash year after year.
What to watch for: There’s a $25 monthly service fee with this account, though KeyBank waives it during your first three months. You can continue to get it waived by meeting certain requirements.
A closer look at the top savings account/money market account bonuses
Barclays Bank is offering new customers the opportunity to earn a $200 bank account bonus if they deposit at least $25,000 into its Tiered Savings account.
Bonus amount: $200
Expirationdate: March 8, 2025
Whoiseligible: New Barclays customers.
Requirements to earn the bonus: Deposit $25,000 or more during your first 30 days with your new account. Then, keep your balance at $25,000 or higher for 120 consecutive days.
Where to apply: Online.
When you’ll get it: Within 60 days after meeting the requirements.
What we like: The account pays a competitive yield, so it’s not a bad place to stash your savings and earn a bonus at the same time.
What to watch for: While all the tiers pay a good yield, you’ll need at least $250,000 to earn the highest APY in the Barclays Tiered Savings account.
You can earn $200 by opening a new TD Signature Savings or TD Simple Savings account.
Bonus amount: $200.
Expiration date: March 31, 2025.
Who is eligible: Customers who haven’t had a personal money market account or savings account with TD Bank in the previous 12 months. You also won’t be eligible if you’ve ever redeemed a savings bonus at TD Bank in the past
Requirements to earn the bonus: The requirements to earn the bonus for either account are the same: Deposit at least $10,000 into your new Simple Savings or Signature Savings account within 20 days of opening the account. After the first 20 days elapse, maintain the balance of $10,000 or more for another 90 days.
Where to apply: Online.
When you’ll get it: Within 180 days of opening the account and meeting requirements.
What we like: TD Bank is open seven days a week in some locations, as long as there isn’t a holiday.
What to watch for: TD Simple Savings has an extremely low APY. The standard APY for Signature Savings is also extremely low.
New members of Alliant Credit Union who open an Ultimate Opportunity Savings Account can earn $100 after a year by making monthly deposits into that account.
Bonus amount: $100
Expiration date: Dec. 31, 2025
Who is eligible: New members of Alliant Credit Union.
Requirements to earn the bonus: Open an Ultimate Opportunity Savings account and deposit $100 or more for 12 consecutive months.
Where to apply: Online.
When you’ll get it: Within four weeks after meeting the requirements.
What we like: This account doesn’t require direct deposits – just any transfer or deposit that meets the minimum amount. This gives customers some flexibility while also helping people create a savings habit.
What to watch for: The APY on this account is solid, but you could find higher yields elsewhere.
New BMO customers who open a Savings Builder Account can earn a bonus of $5 per month, up to $60 for the first year they have the account.
Bonus amount: up to $60 bonus ($5 monthly).
Expiration date: N/A.
Who is eligible: Customers who open a new Savings Builder account. You cannot earn this bonus if you switch a different savings account into a Savings Builder account or if you previously earned a bonus for opening a Statement Savings account.
Requirements to earn the bonus: Customers can earn $5 a month ($60 maximum) by depositing at least $200 each month for a year. The initial deposit must be received in the month the account was opened to be eligible for all twelve $5 bonuses.
Where to apply: Online or in a branch.
When you’ll get it: You’ll receive each $5 bonus within five days after the end of every month that you save $200.
What we like: The Savings Builder Account doesn’t have a monthly service fee.
What to watch for: The account has an extremely low APY. It’s lower than the national average yield and leagues below the highest yield savings accounts.
A closer look at the top business bank account bonuses
You can earn up to $1,000 by opening one of the following new business checking accounts at Huntington National Bank: Business Checking 100, Unlimited Business Checking or Unlimited Plus Business Checking.
Bonusamount: $1,000, $400 or $100.
Expirationdate: Feb. 10, 2025.
Who is eligible: New business checking customers. If you’re an existing customer or have closed a business checking account in the last six months, you won’t be eligible to earn this bonus.
Requirements to earn the bonus: To earn $100, open a Business Checking 100 account and deposit a minimum of $2,000. To earn $400, open an Unlimited Business Checking and deposit a minimum of $5,000. For these two accounts, you’re required to make the requisite deposits within 60 days of account opening and keep the account open for at least 90 days.To earn $1,000, open an Unlimited Plus Business Checking and deposit a minimum of $20,000 within 30 days. You must also keep the account open for a minimum of 90 days. All money deposited must be new to Huntington Bank for all bonuses.
Where to apply: Online or at a branch.
When you’ll get it: Within 14 days of meeting requirements.
What we like: All three business accounts come with a 24-hour grace period for overdrafts.
What to watch for: All of the accounts have a limit as to how much you can deposit a month for free.
Opening a new PNC Business Checking account, Business Checking Plus account, Analysis Business Checking or Treasury Enterprise Plan can get your business a bonus of up to $1,000.
Bonus amount: $1,000 or $400
Expiration date: March 31, 2025.
Who is eligible: Businesses who have less than $5 million in annual revenue. The new account won’t be eligible for a bonus if any signer on the new account has been a signer on an existing PNC business checking account. No signers on the new account can have received a bonus from PNC in the last 12 months.
Requirements to earn the bonus:
Business Checking: Earn a $400 bonus by opening a Business Checking account and making at least 20 qualifying debit card transactions within the first three statement cycles. You must also maintain an average balance of $2,000 or more for the first three statement cycles.
Business Checking Plus: Earn $400 as a bonus for opening this account and then making at least 20 qualifying debit card transactions within the first three statement cycles. You must also maintain a minimum average balance of $2,000 for the first three statement cycles.
Analysis Business Checking: Earn $1,000 for opening this checking account and maintaining a minimum average balance of $30,000 for the first three statement cycles.
Treasury Enterprise Plan: Earn $1,000 by opening this account and maintaining a minimum average balance of $30,000 for the first three statement cycles.
Where to apply: Online or in a branch; the Analysis Business Checking account can only be opened in a branch.
When you’ll get it: Within 90 days of meeting all requirements.
What we like: PNC is one of the nation’s largest banks and gives you access to more than 2,200 locations and about 60,000 ATMs.
What to watch for: These offers are only available to business that make less than $5 million in annual revenue.
Small businesses can open a business checking account at Axos Bank to earn up to a $400 bonus. For this offer, you’ll need to open a Business Interest Checking account or a Basic Business Checking account and complete requirements.
Bonus amount: $400
Expiration date: Jan. 31, 2025
Who is eligible: Axos can limit you to one promotional offer per year. Also, if you’ve had an Axos Bank for Nationwide checking account or an Axos Bank checking account – for a business or as an individual – in the previous 12 months, you’re not eligible to earn this bonus.
Requirements to earn the bonus:
Use the NEW400 code when you apply for the Axos business checking account. Deposit money into the new account within 30 days of opening it.
You can earn $75 per statement cycle (up to $300), during the first five statement cycles, when you: maintain an average daily balance between $25,000 and $49,999.99, complete 10 debit card transactions of at least $3 each and have bill pay set up for the account.
Or, you can earn $100 per statement cycle (up to $400), during the first five statement cycles, when you: maintain an average daily balance greater than $50,000, complete 10 debit card transactions of at least $3 each and have bill pay set up for the account.
Where to apply: Online.
When you’ll get it: The bonus will be deposited into the account within 10 business days following the end of the statement cycle in which the balance requirement was met.
What we like: These accounts come with free incoming wires, domestic and international.
What to watch for: Note that an early closure fee of up to $400 may apply if the account isn’t kept open for 150 days.
Why banks have sign-up bonuses
Banks use sign-up bonuses to distinguish themselves from others in the industry. Cash bonuses also help financial institutions bring in new customers and new deposits.
While they could pay account holders a higher yield, for some banks, offering a bonus is preferable.
“It’s much easier to quantify the bonus than it is to raise the rate on what you’re paying out on deposits,” says Greg McBride, CFA, Bankrate chief financial analyst.
Some banks offer more than one sign-up bonus. But qualifying for multiple bonuses at the same time at the same bank usually isn’t possible. Bank account bonuses are typically available only to new checking or savings account holders.
What to watch out for
Not every bank account bonus is a good deal. Before signing up, read the fine print and be realistic about your ability to meet the requirements. Watch out for high minimum balance requirements and monthly fees that could eat into your earnings.
If you’re applying for a checking account, make sure it’s a good match that meets your needs. For example, if you need to use branches and ATMs, double-check that there are plenty of them in your area. That way, you’re not driving miles to meet with a banker or wasting money on out-of-network ATM fees. And with online banking becoming more popular and convenient, look for a bank or credit union that offers a solid set of digital tools.
If you’re looking for a new savings account, consider whether you’re better off finding another bank that pays more interest.
For instance, one-time bonuses are typically offered on accounts that pay minimal interest. So while the bonus is great initially, you may be sacrificing the long-term return.
Time is money, so ask yourself these questions. Were you thinking of switching banks anyway? Does the bank offer an account you’d stick with even after the bonus requirements are met? If not, are you prepared to do the legwork in moving your accounts again at that point?
The Internal Revenue Service (IRS) taxes any bank account bonuses you earn at the same rate as your income, which is between 10 and 37 percent in 2024. Ahead of tax season, your bank will likely send you a 1099-INT form if you earned a bonus of more than $10. Alternatively, the bonus may show up on a 1099-MISC form. These forms may also be made available electronically by your bank.
Your bank may also choose not to send you a tax form for a bonus you’ve earned. If this happens, you’re still responsible for paying taxes on the bonus. You can list the income from a bank account bonus on a 1040 form, which enables you to report any additional income from sources such as unemployment compensation or money associated with prizes or awards.
As soon as you receive a bank bonus, it’s a good idea to set aside a percentage of it (based on your tax bracket) for taxes. This way, you’ll have the money to cover any related tax obligations.
Promotions in this article may have additional requirements that aren’t listed here. Terms and conditions may apply to these offers.
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APA:
Goldberg, M. (2025, January 16). Best bank account bonuses for January 2025. Bankrate. Retrieved January 30, 2025, from https://www.bankrate.com/banking/best-bank-account-bonuses/
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MLA:
Goldberg, Matthew. "Best bank account bonuses for January 2025." Bankrate. 16 January 2025, https://www.bankrate.com/banking/best-bank-account-bonuses/.
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Chicago:
Goldberg, Matthew. "Best bank account bonuses for January 2025." Bankrate. January 16, 2025. https://www.bankrate.com/banking/best-bank-account-bonuses/.
