BEST OF - Virginia

15 Best Bank Bonuses and Promotions of December 2022

Dec 1, 2022

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Bank promotions generally consist of cash bonuses when you open a new checking or savings account. To qualify for this one-time perk, you’ll likely have to set up direct deposit with the bank and keep the account open for at least a few months.

Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

For more sustained earnings on balances, consider one of NerdWallet’s best high-yield online savings accounts. These accounts are free and have annual percentage yields around 2.00%. (The national average for savings accounts is just 0.24%.) A $10,000 balance would earn about $200 per year in interest with one of these accounts.

Here are the details on NerdWallet’s favorite bonuses this month. Some banks have looser rules than others; we’ve outlined those requirements below. Note that not all products or offers are available in all regions. Scroll down for more specific details on each bonus.

Summary of best bank promotions and bonuses

Best bank bonus for checking and savings

  • SoFi Checking and Savings: Up to $250 bonus offer

  • PNC Bank Virtual Wallet Checking Pro: $200 bonus offer

  • PNC Bank Virtual Wallet: Up to $400 bonus offer

Best bank bonuses for savings

  • Discover Online Savings Account: $150 or $200 bonus offer

  • Alliant Credit Union Ultimate Opportunity Savings: $100 bonus offer

Best bank bonuses for checking

  • Citigold® Checking Account: Up to $2,000 cash bonus offer

  • Chase Total Checking®: $200 bonus offer

  • Citi Priority Account: Up to $2,000 cash bonus offer

  • Chase Secure Banking℠: $100 bonus offer

  • Bank of America Advantage Banking: $100 bonus offer

  • TD Bank Checking: $200 or $300 bonus offer

  • BMO Harris Checking: Up to $350 bonus offer

  • U.S. Bank Smartly Checking: $300 bonus offer

  • Axos Rewards Checking: Up to $150 bonus offer

  • HSBC Premier Checking: $500 bonus offer

Best bank bonus for money market accounts

  • CIT Bank Money Market Account: One year of Prime membership ($139 value). Conditions apply. See CIT Bank site for details.

Best bank bonus for business checking

  • Chase business checking: $300 bonus offer

Show best offers available in

Best Bank Bonuses and Promotions

Our pick for

Checking and Savings

SoFi Checking and Savings
Learn more

at SoFi, Member FDIC

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

3.25%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

Learn more

at SoFi, Member FDIC


Why we like it

If you’re looking for a combination checking-and-savings account, this bonus is a standout. It offers a few different tiers to earn a cash bonus of up to $250 (the bonus amount differs based on the amount you direct deposit).

What you'll get: $50 or $250.

Expiration: 01/31/2023.

How to get it: Open a new SoFi Checking and Savings account (or be an existing SoFi customer who hasn’t made direct deposits before) on the offer page. Make at least one direct deposit in any amount before the promotion expiration date. Deposit $1,000 to $4,999.99 to earn a $50 bonus or deposit $5,000 or more to earn a $250 bonus.

Where to open: Online.

Who can qualify: Customers who open a new SoFi Checking and Savings account, or existing SoFi customers who haven’t previously made direct deposits.

When you’ll get it: Within seven business days after the 25-day evaluation period following the receipt of the first qualifying direct deposit.

Monthly fee: $0.

Read Full Review

PNC Virtual Wallet® Checking Pro

5.0

NerdWallet rating 
PNC Virtual Wallet® Checking Pro

Monthly fee

$0

APY

0.40%

With $1 min. balance for APY

Bonus

$200

Requirements to qualify


Bonus

$200

Requirements to qualify

Why we like it

This bonus offer allows you to earn a cash bonus with your choice of either a new combination checking-and-savings account or a new checking account only.

What you'll get: $200.

Expiration: 01/02/2023.

How to get it: Open a new Virtual Wallet Checking Pro with a checking account only, or with both checking and savings on the offer page and receive a total of at least $2,000 in qualifying direct deposits within 60 days of opening the account.

Where to open: Online.

Who can qualify: Anyone who has not had a PNC account within the last 90 days or received a PNC promotional payment within the last 24 months. Availability varies by location; you can check your eligibility on the website.

When you'll get it: The bonus will be credited to your account, which must be open, within 60-90 days after you’ve met the requirements.

Monthly fee: $0.

Read Full Review

PNC Virtual Wallet Spend

4.0

NerdWallet rating 
PNC Virtual Wallet Spend

Monthly fee

$7.00

Waived with direct deposit or $500 minimum balance

APY

N/A

Bonus

$400

Requirements to qualify


Bonus

$400

Requirements to qualify

Why we like it

This bonus stands out for rewarding you if you set up a direct deposit as low as $500. Tiered bonuses are also available, so the more you deposit, the more you can earn — up to $400.

What you'll get: $50, $200 or $400.

Expiration: 01/02/2023.

How to get it: Open a Virtual Wallet, Virtual Wallet with Performance Spend or Virtual Wallet with Performance Select account on the offer page and receive a total of at least $500, $2,000 or $5,000 in qualifying direct deposits, respectively, within 60 days of opening the account. Opening a Virtual Wallet account and meeting the criteria will earn you $50; opening a Virtual Wallet with Performance Spend account and meeting the criteria will earn you $200; opening a Virtual Wallet with Performance Select account and meeting the criteria will earn you $400.

Where to open: Online.

Who can qualify: Anyone who has not had a PNC account within the last 90 days or received a PNC promotional payment within the last 24 months. Availability may vary by your location; you can check your eligibility on the website.

When you'll get it: The bonus will be credited to your account, which must be open, within 60-90 days after you’ve met the requirements.

Monthly fee:

Virtual Wallet: $7; waived with a combined average monthly balance of $500 in your Spend and/or Reserve accounts, or $500 in qualifying direct deposits per statement period.

Virtual Wallet with Performance Spend: $15, waived with direct deposits of at least $2,000 per statement period, a $10,000 combined average monthly balance across linked deposit accounts, or a combined average monthly balance of $2,000 in your Spend and/or Reserve accounts.

Virtual Wallet with Performance Select: $25, waived with direct deposits of at least $5,000 per statement cycle, $25,000 combined average monthly balance across linked deposit and/or investment accounts, or a combined average monthly balance of $5,000 across Spend and up to seven eligible linked checking accounts.

Read Full Review

Our pick for

Savings

Discover Bank Online Savings
Learn more

at Discover Bank, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

3.00%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

Learn more

at Discover Bank, Member FDIC


Why we like it

Get a cash bonus for opening one of the best online savings accounts available. Choose the deposit amount that works for you and earn up to $200.

What you'll get: $150 or $200.

Expiration: 12/15/2022.

How to get it: Open your first Online Savings Account and use offer code NW922 when applying. Earn a $150 bonus by depositing at least $15,000 or earn a $200 bonus by depositing at least $25,000. Make your deposit within 30 days of account open date. Your account must be open to receive the bonus.

Where to open: Online, by phone or in the Discover app.

Who can qualify: Customers who are opening their first Discover Online Savings Accounts. People who have a savings account or previously had a savings account, including co-branded or affinity accounts provided by Discover, are not eligible.

When you’ll get it: The bonus will be credited to your account within 30 days of meeting the requirements.

Monthly fee: $0.

Details on bonus from Discover: "To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code NW922 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice."

Read Full Review

Alliant Credit Union Ultimate Opportunity Savings Account

5.0

NerdWallet rating 
Alliant Credit Union Ultimate Opportunity Savings Account

APY

2.60%

With $100 min. balance for APY

Bonus

$100

Requirements to qualify


Why we like it

This bonus rewards you for building a savings habit; the savings account offers a competitive interest rate and the credit union is easy to join.

What you'll get: $100.

Expiration: 12/31/2022.

How to get it: Open a new The Ultimate Opportunity Savings account online at the promotional page, or by phone at 800-328-1935 and mention Suze Orman’s The Ultimate Opportunity Savings Account promotion. Then transfer or deposit the first $100 within 30 days, make transfers or deposits totaling at least $100 or more each month for the next 11 consecutive months, and keep an average daily balance of at least $100. To receive the bonus, at the end of the 12-month period your account must be open with a balance of at least $1,200.

Where to open: Online or by phone.

Who can qualify: New Alliant Credit Union members only. People who have closed an Alliant savings account within 180 days, existing members and joint owners on Alliant savings accounts are not eligible.

When you’ll get it: The bonus will be credited to your account within four weeks of meeting the requirements.

Monthly fee: $0 when you opt for eStatements; otherwise, paper statements cost $1 each.

Read Full Review

Our pick for

Checking

Citigold® Checking Account
Learn more

at Citibank, N.A.

Citigold® Checking Account

4.0

NerdWallet rating 
Citigold® Checking Account

Monthly fee

$0

APY

N/A

Bonus

$200

Requirements to qualify

Learn more

at Citibank, N.A.


Bonus

$200

Requirements to qualify

Why we like it

If you’re looking for a premium bank account that requires a high minimum balance across eligible linked accounts, this offer could be right for you. You can earn cash by depositing an amount that works for you; tiered bonuses range from $200 to $2,000.

What you'll get: $200, $500, $1,000, $1,500 or $2,000.

Expiration: 01/09/2023.

How to get it: Open a Citi checking account and deposit at least $10,000 within 20 days and maintain that daily balance (either in the new checking account only, or across a new checking account and new savings account) for 60 more days. Deposit from $10,000 to $29,999 to earn $200, from $30,000 to $74,999 to earn $500, from $75,000 to $199,999 to earn $1,000, from $200,000 to $299,999 to earn $1,500, or $300,000 or more to earn $2,000. Your balance on the 20th day will determine your bonus earning. Funds must be new to Citibank®. Your account must be open and in good standing to receive the bonus.

Where to open: Online.

Who can qualify: You must not have had a checking account with Citibank for the last 180 days to take advantage of the offer.

When you’ll get it: You’ll receive the bonus within 30 days of meeting the requirements.

Monthly fee:

Basic Banking Package: $12, waived with a combined average monthly balance of at least $1,500 across eligible linked accounts.

Citibank Account Package: $25, waived with an average monthly balance of at least $10,000 across eligible linked accounts.

Citi Priority Package: $30, waived with a monthly average balance of at least $30,000 across eligible linked accounts.

Citigold Package: $0 with an average monthly balance of at least $200,000 across eligible linked accounts.

Read Full Review
Chase Total Checking®
Learn more

at Chase, Member FDIC

Chase Total Checking®

4.0

NerdWallet rating 
Chase Total Checking®

Monthly fee

$12.00

Waived with direct deposit or $1,500 minimum balance

APY

N/A

Bonus

$200

Requirements to qualify

Learn more

at Chase, Member FDIC


Bonus

$200

Requirements to qualify

Why we like it

The Total Checking bank bonus is unique because you can earn it with a direct deposit in any amount – no minimums. You just need to set up direct deposit within 90 days.

What you'll get: $200.

Expiration: 01/25/2023.

How to get it: Open a Chase Total Checking® account online or in person using a coupon emailed to you through the promotional page. You must have a qualifying direct deposit into the account within 90 days of opening the account.

Where to open: The account can be opened online or at a Chase branch (find a location near you).

Who can qualify: New Chase checking customers. You must not have had a Chase checking account within the last 90 days or had one closed with a negative balance. In addition, you may receive only one new checking account opening bonus every two years from the last enrollment date, and you’re limited to one bonus per account.

When you’ll get it: The bonus will be deposited into your account within 15 days after your first direct deposit.

Monthly fee: $12, avoided by having monthly direct deposits of $500 or more, a minimum daily balance of $1,500, or keeping a daily average balance of $5,000 in your Chase Total Checking® and qualifying linked Chase bank accounts.

Read Full Review
Citi Priority Account
Learn more

at Citibank, N.A.

Citi Priority Account

2.5

NerdWallet rating 
Citi Priority Account

Monthly fee

$30.00

Waived with $30,000 minimum balance

APY

N/A

Bonus

$200

Requirements to qualify

Learn more

at Citibank, N.A.


Bonus

$200

Requirements to qualify

Why we like it

This is a premium checking account that has a lower minimum balance requirement than other premium accounts at this bank. You can earn cash by depositing an amount that works for you; tiered bonuses range from $200 to $2,000.

What you'll get: $200, $500, $1,000, $1,500 or $2,000.

Expiration: 01/09/2023.

How to get it: Open a Citi checking account and deposit at least $10,000 within 20 days and maintain that daily balance (either in the new checking account only, or across a new checking account and new savings account) for 60 more days. Deposit from $10,000 to $29,999 to earn $200, from $30,000 to $74,999 to earn $500, from $75,000 to $199,999 to earn $1,000, from $200,000 to $299,999 to earn $1,500, or $300,000 or more to earn $2,000. Your balance on the 20th day will determine your bonus earning. Funds must be new to Citibank®. Your account must be open and in good standing to receive the bonus.

Where to open: Online.

Who can qualify: You must not have had a checking account with Citibank for the last 180 days to take advantage of the offer.

When you’ll get it: You’ll receive the bonus within 30 days of meeting the requirements.

Monthly fee:

Basic Banking Package: $12, waived with a combined average monthly balance of at least $1,500 across eligible linked accounts.

Citibank Account Package: $25, waived with an average monthly balance of at least $10,000 across eligible linked accounts.

Citi Priority Package: $30, waived with a monthly average balance of at least $30,000 across eligible linked accounts.

Citigold Package: $0 with an average monthly balance of at least $200,000 across eligible linked accounts.

Read Full Review
Chase Secure Banking℠
Learn more

at Chase, Member FDIC

Chase Secure Banking℠

3.5

NerdWallet rating 
Chase Secure Banking℠

Monthly fee

$4.95

APY

N/A

Bonus

$100

Requirements to qualify

Learn more

at Chase, Member FDIC


Bonus

$100

Requirements to qualify

Why we like it

Unlike most bank bonus offers on this list, the Chase Secure Banking bonus doesn’t require direct deposit.

What you'll get: $100.

Expiration: 01/25/2023.

How to get it: Open a Chase Secure Banking℠ account online or in person using a coupon emailed to you through the promotional page. You must complete 10 qualifying transactions within 60 days of opening the account.

Where to open: The account can be opened online or at a Chase branch (find a location near you).

Who can qualify: New Chase checking customers. You must not have had a Chase checking account within the last 90 days or had one closed with a negative balance in the last three years. In addition, you may receive only one new checking account opening bonus every two years from the last enrollment date, and you’re limited to one bonus per account.

When you’ll get it: The bonus will be deposited into your account within 15 days after the 10 qualifying transactions have posted.

Monthly fee: $4.95.

Read Full Review
Bank of America Advantage Plus Banking®
Learn more

at Bank of America, N.A., Member FDIC

Bank of America Advantage Plus Banking®

3.5

NerdWallet rating 
Bank of America Advantage Plus Banking®

Monthly fee

$12.00

Waived with direct deposit of $250 or more or $1,500 daily minimum balance each statement cycle

APY

N/A

Bonus

$100

See offer page for more details

Learn more

at Bank of America, N.A., Member FDIC


Bonus

$100

See offer page for more details

Why we like it

This bonus offer is unique as it rewards you for opening (and direct depositing into) your choice of checking account at one of the largest banks in the U.S. You can choose to try and earn this bonus with one of three different accounts.

What you'll get: $100.

Expiration: 06/30/2023.

How to get it: Open a Bank of America Advantage SafeBalance Banking®, Bank of America Advantage Plus Banking® or Bank of America Advantage Relationship Banking® checking account on the offer page. Use the code DMF100CIS when enrolling. Deposit $25 to open an Advantage SafeBalance account or $100 to open an Advantage Plus or Advantage Relationship account. Receive qualifying direct deposits totaling at least $1,000 within 90 days of opening the account. Your account must be open and in good standing to receive the bonus. Additional terms and conditions apply. See offer page for more details.

Where to open: Online.

Who can qualify: This is an online-only offer for new checking customers only. Bank of America says: “You are not eligible for this offer if you were an owner or co-owner of a Bank of America personal checking account within the last twelve (12) months.”

When you’ll get it: Bank of America says: “Bank of America will attempt to pay bonus within 60 days."

Monthly fee:

Bank of America Advantage SafeBalance Banking®: $4.95, may be waived as long as you’re enrolled in Preferred Rewards. No monthly maintenance fee for account owners under 18 or students under 25 enrolled in school or an educational or vocational program.

Bank of America Advantage Plus Banking®: $12, waived if you're enrolled in Preferred Rewards or with at least one qualifying direct deposit of at least $250 each statement cycle or a $1,500 minimum daily balance.

Bank of America Advantage Relationship Banking®: $25, waived if you are enrolled in Preferred Rewards or with at least $10,000 in combined balances each statement cycle.

Read Full Review
TD Bank TD Convenience Checking℠
Learn more

at TD Bank, Member FDIC

TD Bank TD Convenience Checking℠

3.5

NerdWallet rating 
TD Bank TD Convenience Checking℠

Monthly fee

$15.00

Waived with $100 minimum balance

APY

N/A

Bonus

$200

Requirements to qualify

Learn more

at TD Bank, Member FDIC


Bonus

$200

Requirements to qualify

Why we like it

This offer provides the chance to earn free cash with a lower minimum direct deposit than other offers require.

What you'll get: $200 or $300.

Expiration: 10/31/2023.

How to get it: Open a new TD Convenience Checking or TD Beyond Checking account online at the promotional page. Receive qualifying direct deposits within 60 days of opening the account, and keep the account open for at least six months. Cumulative direct deposits of at least $500 into the TD Convenience Checking account will earn $200. Cumulative direct deposits of at least $2,500 into the TD Beyond Checking account will earn $300.

Where to open: Online.

Who can qualify: This offer is for new customers only. You must not have had a TD Bank personal checking account within the last 12 months or have ever received a bonus on a previous account. TD bank is only available on the East Coast in the following states: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia or Washington, D.C.

When you'll get it: You'll receive the bonus within 180 days of opening the account if you've met the requirements.

Monthly fee:

TD Convenience Checking: $15; waived with a minimum daily balance of $100 and for account holders age 17 through 23.

TD Beyond Checking: $25, waived with direct deposits of at least $5,000 per statement cycle, a $2,500 minimum daily balance or a combined balance of $25,000 across eligible TD accounts.

Read Full Review
Axos Bank® Rewards Checking
Learn more

at Axos Bank®, Member FDIC

Axos Bank® Rewards Checking

5.0

NerdWallet rating 
Axos Bank® Rewards Checking

Monthly fee

$0

APY

1.25%

With $0 min. balance for APY

Bonus

$150

Earn $150 with direct deposit. Terms apply.

Learn more

at Axos Bank®, Member FDIC


Bonus

$150

Earn $150 with direct deposit. Terms apply.

Why we like it

The Rewards Checking account is one of the best checking accounts available, offering a competitive APY for meeting some requirements. This bank bonus stands out because it gives you three opportunities to earn a $50 cash bonus for a potential total bonus of $150.

What you’ll get: $50, $100 or $150

Expiration: 12/31/2022.

How to get it: Apply for a new Axos Rewards Checking account online at the offer page and use the promo code HOLIDAY. Add money to the account within the first 60 days, and make direct deposits totaling at least $1,000 each calendar month during the first three calendar months (or up to four statement cycles). You’ll earn a $50 cash bonus each month of the first three calendar months (or up to four statement cycles) if you meet the minimum direct deposit requirement. Keep the account open for at least 180 days to avoid an early closure fee.

Where to open: Online.

Who can qualify: Account holders who have not gotten an Axos checking account bonus within the past year and have not had primary ownership of a checking account from Axos Bank or Axos Bank for Nationwide within the past 12 months.

When you'll get it: The bonus will be deposited into the new checking account within 10 business days after the statement cycle in which the requirement was met.

Monthly fee: $0.

Read Full Review
HSBC Premier Checking
Learn more

at HSBC, Member FDIC

HSBC Premier Checking

2.5

NerdWallet rating 
HSBC Premier Checking

Monthly fee

$50.00

Waived with direct deposit or $75,000 minimum balance

APY

0.01%

With $5 min. balance for APY

Bonus

$500

Requirements to qualify

Learn more

at HSBC, Member FDIC


Bonus

$500

Requirements to qualify

Why we like it

This is a premium checking account that rewards new HSBC customers with a bonus for making large direct deposits.

What you’ll get: $500.

Expiration: 02/15/2023.

How to get it: Get a $500 Welcome Deposit when you open a new HSBC Premier Checking account on the offer page. Make recurring qualifying direct deposits from a third party to your HSBC Premier Checking account(s) totaling at least $10,000 a month for three consecutive calendar months starting from the second full calendar month after account opening. Your HSBC account must be open and not have been changed to a product with lower balance requirements to receive the bonus.

Where to open: Online.

Who can qualify: To be eligible, you must not have held any HSBC account in the past, and consumers who receive this offer cannot receive any other new customer offers provided by HSBC. In addition, you must be at least 18 years old, have a Social Security number, a U.S. mobile number and a U.S. residential address, and have been a U.S. resident for the past year to apply for a deposit account online.

When you’ll get it: You will automatically receive the $500 Welcome Deposit in your new HSBC Premier Checking account approximately eight weeks after completing all qualifying activities.

Monthly fee: $50, avoided by having a balance of at least $75,000 between your personal deposit and investment accounts with HSBC, receiving recurring third-party direct deposits of at least $5,000 into your account each calendar month or having an HSBC U.S. residential mortgage loan with an origination amount of at least $500,000.

Read Full Review

Our pick for

Money Market Account

CIT Bank Money Market Account

4.5

NerdWallet rating 
CIT Bank Money Market Account

APY

1.55%

With $100 min. balance for APY

Bonus

$139

Requirements to qualify


Why we like it

The CIT bonus offers the most unique bank promotion on our list: A gift of Prime membership when you make a large deposit from an external account within the first 15 days of account opening and meet a minimum balance requirement over the next 60 days.

What you'll get: One year of Prime membership ($139 value).

Expiration: 12/23/2022.

How to get it: Open a new Money Market account and use the code AMZN22. Deposit at least $15,000 with funds from an external account within 15 days. Maintain a daily balance of at least $15,000 for the next 60 days (after the first 15 days allocated to fund your account). Conditions apply. See CIT Bank site for details.

Where to open: Online.

Who can qualify: Customers who open a new Money Market account. Only one Money Market account bonus is allowed per account and per customer.

When you’ll get it: Approximately 30 days after the 60-day period mentioned earlier. Account must be open in order to receive a Prime membership invitation, which will be sent once all requirements are met.

Monthly fee: $0.

Read Full Review

Our pick for

Business Checking

Chase Business Complete Banking℠
Learn more

at Chase, Member FDIC

Chase Business Complete Banking℠

4.5

NerdWallet rating 
Chase Business Complete Banking℠

Monthly fee

$15.00

Waived with $2,000 minimum balance

APY

N/A

Bonus

$300

Requirements to qualify

Learn more

at Chase, Member FDIC


Bonus

$300

Requirements to qualify

Why we like it

This bonus is a good option if you need to open a business checking account at a major bank and can meet the minimum deposit and balance requirements, plus complete a handful of transactions.

What you'll get: $300.

Expiration: 02/16/2023.

How to get it: Open a new Business Complete Checking℠, Performance Business Checking® or Chase Platinum Business Checking℠ account at a branch, using the offer code emailed to you from the promotional page. Then deposit at least $2,000 in new money within 30 days, maintain a $2,000 balance for 60 days and complete five qualifying transactions — such as debit card purchases, QuickAccept℠ deposits, QuickDeposits℠ and ACH or wire transfers — within 90 days.

Where to open: Online or in person at a Chase branch (location near you).

Who can qualify: Anyone who has not received a bonus related to a new Chase business checking account opening in the last two years. Only one bonus is allowed per account. Other restrictions apply.

When you’ll get it: The bonus will be deposited into your new account within 15 days of completing all the requirements.

Monthly fee:

Chase Business Complete Checking℠: $15, waived with a minimum daily balance of $2,000, by spending at least $2,000 in purchases with your Chase Ink Business Card, by depositing $2,000 into your new account from your QuickAccept℠ or eligible transactions at least one business day before the last day of your statement period, or by maintaining a linked Chase Private Client Checking℠ account.

Chase Performance Business Checking®: $30, waived with a minimum combined average daily balance of $35,000 across qualifying business deposit accounts.

Chase Platinum Business Checking℠: $95, waived with a minimum combined average daily balance of $100,000 across qualifying business deposit and business investment accounts or with a minimum combined average daily balance of $50,000 and a linked Chase Private Client Checking℠ account.

Pros

  • No minimum opening deposit.

  • Unlimited fee-free electronic transactions.

  • Integrated credit card processing.

  • Welcome bonus for new customers (terms apply).

  • No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.

Cons

  • $15 monthly fee.

  • Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).

  • Fee for using out-of-network ATMs.

Read Full Review

More about bank bonuses

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

The Federal Reserve has increased the federal funds rate (the rate which commercial banks use to borrow and lend money to one another) several times in 2022, including a 0.75% increase on Nov. 2. The changes haven’t directly affected bank bonuses, but it could be a good time to open a new bank account because Fed rate increases have resulted in higher savings account interest rates. So you could take advantage of both a bank bonus and higher APYs in a new savings account.

Are bank account bonuses worth it?

Bank promotions can be worth the effort of opening a new account and adding money if the reward is substantial enough and the requirements aren't too difficult to meet.

» 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 the opportunity to earn a significant cash bonus for signing up for a new account with no fees or fees that are easy to get waived.

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.

» 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 — as long as you can meet the requirements and minimums in order to avoid fees.

The number of checking and/or savings accounts you should have depends on your individual situation. Married or partnered people, for example, 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 signs that it's time to choose a new bank.)

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

Last updated on December 1, 2022

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People often identify opening a checking account as their next money move.

Citigold® Checking Account

4.0

NerdWallet rating 
Citigold® Checking Account

Monthly fee

$0

Bonus

$200

Requirements to qualify

at Citibank, N.A.

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

Monthly fee

$0

APY

2.50%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

at SoFi, Member FDIC

Chase Total Checking®

4.0

NerdWallet rating 
Chase Total Checking®

Monthly fee

$12.00

Waived with direct deposit or $1,500 minimum balance

Bonus

$200

Requirements to qualify

at Chase, Member FDIC

Methodology

We consider bonuses offered by brick-and-mortar and online banks and credit unions in the U.S. that NerdWallet has rated. Eligible bonuses are rated for inclusion based primarily on the population eligible and the potential return on money deposited. We also consider factors including bonus requirements, the amount of time the account must remain open and account quality.

To recap our selections...

NerdWallet's Best Bank Bonuses and Promotions of December 2022

Frequently asked questions