BEST OF - Virginia

13 Best Bank Bonuses and Promotions of September 2022

Sep 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 1.70%. (The national average for savings accounts is just 0.17%.) A $10,000 balance would earn about $170 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. Scroll down for more specific details on each bonus.

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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

2.00%

With $0 min. balance for APY

Bonus

$300

Earn up to $300 with direct deposit. Terms apply.

Learn more

at SoFi, Member FDIC


Why we like it

What you'll get: $50, $100 or $300.

Expiration: Ongoing.

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 direct deposits within 30 days. Deposit $1,000 to $1,999 to earn a $50 bonus, deposit $2,000 to $4,999 to earn a $100 bonus, or deposit $5,000 or more to earn a $300 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 two weeks of meeting the requirements.

Monthly fee: $0.

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

2.10%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

Learn more

at Discover Bank, Member FDIC


Why we like it

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

1.80%

With $100 min. balance for APY

Bonus

$100

Requirements to qualify


Why we like it

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

Alliant Credit Union High-Rate Checking

5.0

NerdWallet rating 
Alliant Credit Union High-Rate Checking

Monthly fee

$0

APY

0.25%

With $0 min. balance for APY

Bonus

$100

Requirements to qualify


Bonus

$100

Requirements to qualify

Why we like it

What you'll get: $100 plus $100 charitable donation made on your behalf to one of three charities.

Expiration: 10/07/2022.

How to get it: Open a new High-Rate Checking account online at the promotional page with code GOOD22, or by phone at 800-328-1935, make a $100 deposit and mention the Socially Responsible Checking Account promotion. Then keep an average daily balance of at least $100, opt into eStatements and have at least one monthly electronic deposit. To receive the bonus and the charitable donation, your account must be open and in good standing through 02/28/2023. Note that to join Alliant Credit Union, you must open a savings account.

Where to open: Online or by phone.

Who can qualify: New and existing Alliant Credit Union members. People who are the primary account holder on an Alliant Checking account and people who have closed an Alliant Checking account within 180 days are not eligible.

When you’ll get it: The bonus will be credited to your account in four to six weeks of meeting the requirements. Alliant will pay donations by 03/31/2023.

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

Read Full Review
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

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

What you'll get: $200.

Expiration: 10/19/2022.

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. The account must remain open for six months or the bonus will be deducted at account closing.

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

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

What you'll get: $100.

Expiration: 10/19/2022.

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. The account must remain open for six months or the bonus will be deducted at account closing.

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
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

$100

Earn $100 with direct deposit. Terms apply.

Learn more

at Axos Bank®, Member FDIC


Bonus

$100

Earn $100 with direct deposit. Terms apply.

Why we like it

What you’ll get: $100.

Expiration: 09/30/2022.

How to get it: Apply for a new Axos Rewards Checking account online at the offer page and use the promo code SUMMER. Make direct deposits totaling at least $1,500 within a single calendar month during the first three months, including the month your account is opened.

Where to open: Online.

Who can qualify: This offer is valid for one new account only, with funds that are new to Axos.

When you'll get it: The bonus will be deposited into the new checking account within 30 days after a 90-day waiting period.

Monthly fee: $0.

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

What you'll get: $100.

Expiration: 12/31/2022.

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 DNB100CIS 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 of at least $1,000 within the first 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. You cannot have held a Bank of America personal checking account within the last 12 months as either an owner or a co-owner. Fiduciary accounts are excluded.

When you’ll get it: Within 60 days of meeting all the requirements.

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 across linked checking, savings, IRAs and Merrill® investment accounts.

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

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

Expiration: 10/31/2022.

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

Huntington National Bank Asterisk-Free Checking®

4.0

NerdWallet rating 
Huntington National Bank Asterisk-Free Checking®

Monthly fee

$0

APY

N/A

Bonus

$150

Requirements to qualify


Bonus

$150

Requirements to qualify

Why we like it

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

Expiration: 10/07/2022.

How to get it: Open a new Huntington Asterisk-Free or Huntington 5 checking account online or in person using a coupon emailed to you through the promotional page. Deposit at least $1,000 within 60 days of opening the account and maintain that amount in the account for 90 days. Depositing $1,000 to the Asterisk-Free Checking account earns you $150, and depositing $1,000 to the Huntington 5 Checking account earns you $200. The money must be new to Huntington. Your account must be open to receive the bonus.

Where to open: Online or at a branch.

Who can qualify: This offer is for new personal checking accounts only. You must not have had a Huntington checking account within the last six months, and you must be a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia or Wisconsin.

When you'll get it: You'll receive the bonus within 14 days of meeting the requirements.

Monthly fee: 

- Huntington Asterisk-Free Checking: $0.

- Huntington 5 Checking: $5, waived with $5,000 in total balances across Huntington accounts.

Read Full Review

Our pick for

Business checking

Chase Business Complete Banking℠

5.0

NerdWallet rating 
Chase Business Complete Banking℠

Monthly fee

$15.00

Waived with $2,000 minimum balance

APY

N/A

Bonus

$300

Requirements to qualify


Bonus

$300

Requirements to qualify

Why we like it

What you'll get: $300.

Expiration: 10/20/2022.

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. The account must remain open for six months or the bonus will be deducted at account closing.

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.

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).

Cons

  • $15 monthly fee.

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

  • Fee for using out-of-network ATMs.

  • $34 fee for overdrafts, insufficient funds.

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 July 27. 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.

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 September 1, 2022

You may also like these

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

U.S. Bank Easy Checking

3.5

NerdWallet rating 
U.S. Bank Easy Checking

Monthly fee

$6.95

Waived with direct deposit or $1,500 minimum balance

at U.S. Bank, 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

TD Bank TD Convenience Checking℠

3.5

NerdWallet rating 
TD Bank TD Convenience Checking℠

Monthly fee

$15.00

Waived with $100 minimum balance

Bonus

$200

Requirements to qualify

at TD Bank, 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 September 2022

Frequently asked questions