Best Bank Bonuses and Promotions of October 2025 (up to $3,000)

Additional information about bank bonuses: checking account bonuses, savings account bonuses, and more

What does the Fed rate announcement mean for bank account bonuses?

In October, the Federal Reserve announced it would again lower the federal funds rate. That's the rate which commercial banks use to borrow and lend money to one another.

This is the second time in 2025 that the rate has changed. The Fed lowered the rate three times in late 2024 after increasing the rate four times in 2023 and seven times in 2022.

The changes haven’t directly affected bank bonuses, but it could still be a good time to open a new bank account in case savings account interest rates fall. So you could take advantage of both a bank bonus and current APYs in a new savings account.

» MORE: See what the Fed rate means for savings accounts

Are bank account bonuses worth it?

Bank promotions can be worth the effort if the reward is substantial enough and the requirements aren't difficult to meet. It's important to understand the full details before signing up for a new account to earn a bank bonus. That includes what fees might be incurred and how long you might have to wait for the bonus to be paid.

If earning a bank sign-up bonus requires depositing more than $250,000 (which is the standard amount that’s insured by the Federal Deposit Insurance Corp.), you’ll need to employ certain strategies to make sure that all your money — including funds over $250,000 — is protected.

Check out more things to look out for when considering a bank sign-up bonus.

» Prefer an account that offers rewards beyond a sign-up bonus? Check out our favorite rewards checking accounts

What do the best bank bonuses have in common?

The best bank promotions offer a significant cash bonus in exchange for signing up for a new account with no fees or easily avoided fees. The best bank bonuses for you are ones that have requirements you're comfortable with, including the amount of time you'll have to keep your money in the account to earn the bonus.

Are bank bonuses taxable?

If you’ve earned a cash bonus for opening a new bank account, it's usually taxable. You are responsible for covering any tax liability. Learn more about taxes on bank bonuses.

» Churning through accounts to get bonuses? Find out whether closing a bank account hurts your credit

Should I have more than one checking or savings account?

It can be helpful to have multiple bank accounts. Just be sure you can meet the requirements and minimums in order to avoid fees.

The number of checking and/or savings accounts you should have will depend on a few factors. Married or partnered people might each want to have their own accounts in addition to one or more shared accounts. You might want to consider having accounts at different financial institutions for different purposes — such as having an account with a bank that works well for international travel if you’re frequently abroad, or with the bank that handles your mortgage or other loans for more seamless payment transfers. (Learn the pros and cons of keeping multiple bank accounts at different banks.)

» Looking for the right place to keep your savings? Check out NerdWallet's picks for the best savings accounts

Why don’t you feature other bank account bonuses?

You may find other banks and new account sign-up offers that are not featured on this page. Associated Bank, Fifth Third Bank, Huntington Bank and other financial institutions offer checking account bonuses and promotions but aren’t included in our roundup, for example. That’s because we curate a list that’s limited to what our experts think are the very best options for our readers. We don’t make recommendations for bank accounts that don’t earn fair or better ratings from us, no matter how big the bonus may be. And we don’t make recommendations for bonuses in amounts that wouldn’t be worth the effort.

Frequently asked questions about bank promotions and sign-up bonuses

Keep reading to find out answers to commonly asked questions about checking account bonuses and other bank promotions.

What bank gives you a bonus for opening an account?

Various banks and credit unions offer cash sign-up bonuses for opening a new account. You can find the best opportunities available by checking out our list of the best bank bonuses and promotions, updated monthly.

What bank gives you money for opening a checking account?

Banks that offer a checking account bonus to new account holders include Bank of America, BMO, Capital One, Chase, Chime (a nonbank), Citibank, E*TRADE, KeyBank, PNC Bank, SoFi Bank, N.A., U.S. Bank and Wells Fargo. See this page each month to find the best checking account promotions available.

$450 checking account bonus: What is it?

U.S. Bank previously offered a $450 checking bonus for opening a new account. Once the bank has a new account bonus on offer, this page will be updated with the details.

$500 bonus to open an account: What banks are paying?

Currently, this is the best bank bonus that pays $500 or more:

• Chase Private Client checking account bonus.

$200 checking account bonus from Chase: How can you get it?

A previous bonus offered new checking customers the opportunity to earn a $200 Chase checking account bonus by opening a Chase Total Checking® account and meeting requirements. The bank now offers a Chase Total Checking® bonus of $300.

$3,000 checking account bonus offer at Chase Bank: What is it?

Chase Private Client Checking offers a bonus of up to $3,000 for opening a new account. Read the promotion details above to understand all the rules and requirements to earn the checking account bonus, including a super steep minimum transfer amount that may not be worthwhile.