Sep 20, 2024

You work hard for your money. Shouldn’t your money work hard for you? Some banks are offering cash bonuses for opening new checking accounts. Start your journey to smarter banking

Chase Total Checking Account

Chase, a renowned banking institution serving millions of customers across the United States, offers a straightforward and rewarding checking account option. Currently, Chase is offering new customers a $300 bonus for opening a Chase Total Checking account and setting up a direct deposit.

In addition to the bonus, the Chase Total Checking account provides access to over 16,000 ATMs and more than 4,700 branches nationwide. The account also includes features such as online banking, mobile banking, and 24/7 customer support. To avoid the $12 monthly service fee, you need to maintain a direct deposit of $500 or more, keep a minimum daily balance of $1,500, or maintain an average beginning day balance of $5,000 or more across linked Chase accounts.

Source: Chase

Wells Fargo Everyday Checking Account

Wells Fargo is another major bank that offers a compelling bonus for new checking account customers. You can earn a $300 bonus when you open a new Wells Fargo Everyday Checking account and make qualifying direct deposits totaling $1,000 or more within the first 90 days.

The Wells Fargo Everyday Checking account comes with several benefits, including access to over 13,000 ATMs and approximately 4,900 branches. It also features mobile and online banking with tools to help you manage your money, such as budgeting and spending tracking. To avoid the $10 monthly service fee, you need to have 10 or more posted debit card purchases/payments, qualifying direct deposits totaling $500 or more, a $500 minimum daily balance, or be linked to a Wells Fargo Campus ATM Card.

Source: Wells Fargo

Bank of America Advantage Banking

Bank of America offers a $100 bonus for new customers who open an Advantage Banking account and set up and receive qualifying direct deposits of $1,000 or more within the first 90 days.

The Advantage Banking account provides flexible banking options, including the Advantage SafeBalance, Advantage Plus, and Advantage Relationship tiers, allowing you to choose the one that best fits your needs. Each tier offers various features, such as no overdraft fees (SafeBalance), the ability to write checks (Plus), and higher interest rates (Relationship). Additionally, you have access to Bank of America’s extensive network of ATMs and financial centers, as well as online and mobile banking tools.

Source: Bank of America

PNC Virtual Wallet

PNC Bank’s Virtual Wallet is an innovative checking account option that comes with a variety of features to help you manage your finances. New customers can earn up to a $400 bonus when opening a new Virtual Wallet, Virtual Wallet with Performance Spend, or Virtual Wallet with Performance Select account. The bonus amount varies based on the type of account opened and the qualifying direct deposits made.

The Virtual Wallet combines a checking account with tools for budgeting and saving, including a Spend account for everyday transactions, a Reserve account for short-term savings, and a Growth account for long-term savings. PNC also offers online and mobile banking, as well as access to a vast network of ATMs and branches.

Source: PNC Bank

Discover Cashback Debit Account

Discover Bank offers a unique checking account with a cashback feature. The Discover Cashback Debit account allows you to earn 1% cash back on up to $3,000 in debit card purchases each month, which can add up to significant savings over time.

Although Discover does not currently offer a cash bonus for opening a new checking account, the ongoing cashback rewards make it an attractive option. The account also has no monthly fees, no minimum balance requirements, and access to over 60,000 ATMs nationwide. Additionally, Discover provides a robust mobile app and online banking services.

Source: Discover

Axos Bank Rewards Checking

Axos Bank offers a Rewards Checking account that provides up to 3.30% APY on your balance, depending on meeting certain criteria, such as receiving direct deposits and using your debit card for a specified number of transactions each month. New customers can earn a $100 bonus when opening a Rewards Checking account and receiving qualifying direct deposits totaling at least $1,500 within the first 90 days.

The Axos Rewards Checking account has no monthly maintenance fees, no minimum balance requirements, and unlimited domestic ATM fee reimbursements. Axos also provides a comprehensive mobile app and online banking platform to manage your account.

Source: Axos Bank

Citi Priority Account

Citi offers a generous bonus for new customers who open a Citi Priority Account. You can earn up to $2,000 when you open a new Citi Priority Account Package and meet the qualifying criteria. The bonus amount depends on the total deposits and the amount you maintain for 60 days.

The Citi Priority Account comes with various perks, including access to financial planning services, waived fees for certain banking services, and preferred rates on linked Citi accounts. Additionally, you get access to Citibank’s vast network of ATMs and branches, as well as robust online and mobile banking services.

Source: Citi

General Considerations for Banking Bonuses

While cash bonuses can be a great incentive to open a new checking account, they should not be the sole reason for choosing a bank. It’s crucial to consider the long-term benefits and features of the account, such as fees, interest rates, customer service, and additional perks like mobile banking and ATM access. Ensure that the bank you choose aligns with your overall financial goals and offers services that meet your needs. Sometimes, the most attractive bonus might come with higher fees or more restrictive account requirements that could cost you more in the long run.

Conclusion

Opening a new checking account can be a strategic way to earn extra cash and take advantage of various banking perks. Whether you choose a traditional bank like Chase or Wells Fargo, or an online bank like Axos or Discover, there are plenty of options available in 2024 to help you maximize your financial benefits. Be sure to compare the offers, understand the requirements, and select the account that best fits your financial goals and lifestyle.

By doing thorough research and taking advantage of these bonuses, you can make a smart financial move that provides both immediate rewards and long-term benefits. Always consider the terms and conditions of each offer and consult with financial advisors if needed to ensure you make the best choice for your situation.