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Best Bank Account Bonuses and Offers May 2017

Banking, Checking Accounts, Savings Accounts
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Checking account offers and savings promotions

Chase Bank: $200
Chase
Learn more
at Chase Bank
Chase Total checking

BMO Harris: $200
BMO+Harris
Learn more
at BMO Harris
BMO Harris checking

Chase Bank: $150
Chase
Learn more
at Chase Bank
Chase savings

Discover Bank: $100
Discover
Learn more
at Discover
Discover Online savings

Associated Bank: $150
Associated+Bank
Read full review
on NerdWallet
Associated Bank Brewers checking

Chase Bank: $300
Chase
Learn more
at Chase Bank
Chase Premier Plus checking

CIT Bank: $100, $250 or $400
CIT Bank
Learn more
at CIT Bank
CIT Bank High Yield savings

Citibank: $300
Citibank
Read full review
on NerdWallet
Citibank checking

Huntington Bank: $150 or $200
Huntington+Bank
Read full review
on NerdWallet
Huntington checking

M&T Bank: $150
M&T+Bank
Read full review
on NerdWallet
M&T Bank checking

PNC Bank: $50, $200 or $300
PNC
Read full review
on NerdWallet
PNC Bank Virtual Wallet checking

Santander Bank: $225
Santander+Bank
Read full review
on NerdWallet
Santander checking

SunTrust: $100, $200 or $300
SunTrust
Learn more
at SunTrust
SunTrust checking

TD Bank: $150 or $300
TD+Bank
Learn more
at TD Bank
TD Bank checking

 

Banks offer some enticing deals on new checking and savings accounts. Chasing promotions may cost you in the long run. But if you’re confident you can avoid potential monthly fees, here are NerdWallet’s favorites this month, with a focus on sign-up bonuses.

» MORE: Switch banks in four steps

Chase Bank: $200 bonus

Best checking bonus: through 7/17/2017

Chase
Learn more
at Chase Bank
  • To qualify, you must not have had a Chase checking or fiduciary account within the past 90 days
  • Use the form on the sign-up page to have a coupon emailed to you. Use the coupon to open a Chase Total Checking account funded with at least $25. The account must remain open for six months.
  • The account has to be opened at a Chase branch. These can be found mostly in the Northeast, on the West Coast and in parts of the Midwest, Texas and Florida.
  • You must have a direct deposit into the account within 60 days
  • The bonus will be deposited into your account in no more than 10 business days after your first direct deposit

» MORE: NerdWallet’s review of Chase Bank

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BMO Harris: $200 bonus

Best checking bonus: through June 30, 2017

BMO+Harris
Learn more
at BMO Harris
  • To qualify, you must not have had a BMO Harris checking account in the past year
  • Open a new Smart Money, Smart Advantage or Premier account online, over the phone or in a branch using the coupon you were emailed from the promotional page
  • Within 90 days of opening the account, have at least two direct deposits of at least $300 each
  • Account must remain open and in good standing for about 120 days, which is when the bonus will be paid

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Chase Bank: $150 bonus

Best savings bonus: through 7/17/2017

Chase
Learn more
at Chase Bank
  • To qualify, you must not have had a Chase savings or fiduciary account within the past 90 days
  • Use the form on the sign-up page to have a coupon emailed to you. Then use the coupon to open a Chase Savings account with at least $10,000 in new money within 10 business days. The account must remain open for six months.
  • The account has to be opened at a Chase branch. These can be found mostly in the Northeast, on the West Coast and in parts of the Midwest, Texas and Florida.
  • Maintain a balance of at least $10,000 for 90 days, and Chase will deposit your bonus into your account within approximately 10 days

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Discover Bank: $100 bonus

Best savings bonus: through May 31, 2017

Discover
Learn more
at Discover
Discover Bank says:

  • “To get your $100 Bonus:
  • “What to do: Apply for your first Discover Online Savings Account (OSA) by 5/31/17. Enter Offer Code NW217 when applying. Deposit at least $15,000 by 6/15/17.
  • “What to know: Offer not valid for existing or prior Discover savings customers. Account must be open when bonus is credited. Bonus will be credited to the account by 6/30/17. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice.”

» MORE: NerdWallet’s review of Discover Bank

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Other bank account bonuses: These bank promotions didn’t quite make our list of favorites. Typically, these accounts have:

  • Stiffer qualification requirements for the bonus
  • Lower bonus amounts for comparable requirements and accounts
  • High minimum balance requirements

Be sure you read the fine print if you click through. Here they are in alphabetical order:

Associated+Bank
Read full review
on NerdWallet

Associated Bank: $150 bonus

Through December 31, 2017

  • To qualify, you must not have had an Associated checking account within the past six months
  • To get started, open a Brewers Checking account online or in person with at least $100
  • Within 45 days of opening the account, use it to pay at least three bills through online bill pay or have a direct deposit of at least $300
  • The bonus will be deposited into your account within 75 days of your meeting the bank’s criteria. The account must remain open for at least one year.
  • Offer available to residents of Illinois, Minnesota and Wisconsin

» MORE: NerdWallet’s review of Associated Bank

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Chase
Learn more
at Chase Bank

Chase Bank: $300 bonus

Through 7/17/2017

  • To qualify, you must not have had a Chase checking or fiduciary account within the past 90 days
  • Open a Chase Premier Plus Checking account funded with at least $25 and have a direct deposit within 60 days. The account must remain open for six months.
  • The account has to be opened at a Chase branch. These can be found mostly in the Northeast, on the West Coast and in parts of the Midwest, Texas and Florida.
  • To avoid a $25 monthly fee, your Premier Plus account must have an average daily balance of at least $15,000 across linked deposit and investment accounts or have automatic payments to a linked Chase mortgage
  • Your bonus will be deposited within 10 days of your direct deposit

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CIT Bank
Learn more
at CIT Bank

CIT Bank: $100, $250 or $400 bonus

Through June 30, 2017

  • Open a High Yield Savings account and make an initial deposit of at least $100
  • To earn $100, maintain an average monthly balance of at least $15,000 for three consecutive months. If your average monthly balance is at least $100,000 for three straight months, you’ll earn $250. If your average monthly balance is at least $300,000 for three straight months, you’ll earn $400. These funds can’t already be held at CIT Bank or OneWest Bank.
  • The bonus will be deposited within 45 days of the end of the third monthly statement cycle

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Citibank
Read full review
on NerdWallet

Citibank: $300 bonus

Through June 30, 2017

  • To qualify, you must not have had a Citibank checking account within the past 60 days. You can, however, have an existing Citibank Savings Plus Account or Citibank Savings Account.
  • Open a checking account in the Citibank Account Package online, over the phone or at a branch
  • Within 30 days of opening your new checking account, deposit at least $15,000 into either that account or a new or existing Citibank Savings Plus Account or Citibank Savings Account. Maintain a balance of at least $15,000 for 60 consecutive days following the date of your initial deposit.
  • Within 30 days of opening your account, have at least one direct deposit and have another one the following month
  • To avoid a $25 monthly fee, you must maintain $10,000 in combined average monthly balances in eligible linked accounts
  • The bonus will be deposited within 90 days after you meet the criteria

» MORE: NerdWallet’s review of Citibank

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Huntington+Bank
Read full review
on NerdWallet

Huntington Bank: $150 or $200 bonus

Through June 30, 2017

  • Bonus not available to current Huntington checking customers or those who have had a Huntington checking account within the past six months
  • The Asterisk-Free Checking option comes with a $150 bonus while the Huntington 5 Checking option comes with $200. These accounts can be opened online or at a Huntington branch using the promo code you email yourself from the bank’s promotion page.
  • To qualify for the bonus, make a deposit of at least $1,000 within 60 days of opening the account
  • The bonus will be deposited into your account within 14 days of your meeting the bank’s criteria
  • Offer available to online applicants who live in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, West Virginia and Wisconsin. Huntington Bank has branches in these states.

» MORE: NerdWallet’s review of Huntington Bank

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M&T+Bank
Read full review
on NerdWallet

M&T Bank: $150 bonus

Through June 30, 2017

  • Open an M&T checking account at the promotional webpage or have a coupon emailed to yourself from the page and use it to open an account at a branch
  • Have one direct deposit of $100 or more within 90 days of opening the account
  • Your bonus will be deposited within 90 days of your direct deposit
  • Offer not available nationwide; enter your ZIP code at the top of the promotional webpage to see if you’re eligible

» MORE: NerdWallet’s review of M&T Bank

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PNC
Read full review
on NerdWallet

PNC Bank: $50, $200 or $300 bonus

Through June 30, 2017

  • To qualify, you must not have had a PNC account within the past 90 days or received a PNC promotional payment within the past 12 months
  • Your bonus amount depends on the type of account you open. Options include a Virtual Wallet account, a Virtual Wallet with Performance Spend account or a Virtual Wallet with Performance Select account.
  • Direct deposits must total at least $500, $2,000 or $5,000 per month, depending on which account you’ve signed up for, within 60 days of opening. You must also make at least 10 purchases with your PNC Bank Visa debit card.
  • Your bonus will be deposited 60 to 90 days after you meet the criteria
  • Offer available to residents of Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, West Virginia, Wisconsin and the District of Columbia

» MORE: NerdWallet’s review of PNC Bank

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Santander+Bank
Read full review
on NerdWallet

Santander Bank: $225 bonus

Through June 30, 2017

  • To qualify, you must not currently have a Santander checking account or have had one in the last year
  • Open a Santander checking account online using promo code SPRING225, or at a branch using the coupon you got emailed to yourself from the promotional page
  • Have direct deposits totaling at least $500 within 90 days of opening the account
  • Keep your account open for at least 90 days
  • Your bonus will be deposited within 30 days after you meet those criteria
  • Offer available to residents of Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Pennsylvania

» MORE: NerdWallet’s review of Santander Bank

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SunTrust
Learn more
at SunTrust

SunTrust Bank: $100, $200 or $300 bonus

Through July 3, 2017

  • Open a new account online using promo code Q217CHKNG123OL
  • Your bonus amount depends on the type of account you open. Options include an Essential Checking, Select Checking or Signature Advantage account.
  • Deposit at least $100 into the account within 14 days of opening it, and have direct deposits of at least $500 within 60 days of the opening
  • Make at least 10 debit card purchases within 60 days of opening the account
  • The bonus will be deposited eight weeks after you meet the requirements
  • Offer available to residents of Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia and the District of Columbia

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TD+Bank
Learn more
at TD Bank

TD Bank: $150 or $300 bonus

No expiration date listed

  • To qualify, you must be a new TD Bank checking customer
  • To earn $150, open a TD Convenience account and receive cumulative direct deposits of at least $500 within 60 days of opening the account. To have the $15 monthly fee waived, maintain a minimum daily balance of $100.
  • To earn $300, open a TD Premier account and receive cumulative direct deposits of at least $2,500 within 60 days of opening the account. To have the $25 monthly fee waived, maintain a minimum daily balance of $2,500.
  • Your bonus will be paid no later than 95 days after you open the account

» MORE: NerdWallet’s review of TD Bank

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If it’s time to switch banks and you want to take advantage of a cash bonus, these options should help you decide. If these bonuses don’t entice you, you may want to look for a different account.

Tony Armstrong is a staff writer at NerdWallet, a personal finance website. Email: tony@nerdwallet.com. Twitter: @tonystrongarm. Devan Goldstein of NerdWallet contributed to this report.

Updated May 12, 2017.


METHODOLOGY

We looked at the 15 largest banks by assets and eliminated those without a significant retail banking presence. We also included financial institutions in the country’s five largest metro areas and several of the largest online-only banks that offer a full suite of checking and savings products. We rounded off the list with some of the country’s biggest credit unions with broad-based membership requirements. Finally, we considered banks we’ve reviewed. Financial institutions surveyed: Alliant Credit Union, Ally Bank, Amboy Direct, Associated Bank, Bank of America, Bank5 Connect, Bank of Internet USA, Bank of the WestBarclays, BB&T, BBVA Compass, BMO Harris Bank, Capital One 360, Chase, CIT Bank, Citibank, Connexus Credit Union, Consumers Credit Union, Discover Bank, HSBC, Huntington BankM&T Bank, Nationwide, Navy Federal Credit Union, Pentagon Federal Credit Union, PNC Bank, Santander, Simple, State Employees’ Credit Union, SunTrust, Synchrony Bank, TD Bank, Union Bank, U.S. Bank and Wells Fargo.