The Top Bank Promotions That Will Get You Free Money

The Best New Bank Account Sign Up Bonuses

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Updated on 05/02/23

Bank promotions are offered by banks as an incentive to get you to sign up for their checking or savings accounts and try out their services, such as direct deposit or automatic bill pay.

These bank promotions pay you cash as a way to get you to sign up for their services. It's their hope that you'll sign up for these services and then like them enough to keep using them.

This is a great way to get free money, but these banks don't make it easy. You'll have to spend some time taking the steps necessary to get your bonuses or cash back.

Tip: Be sure to read all of the fine print before signing up for these bank promotions so you know the terms and restrictions before signing up for an account. The descriptions below only serve as a summary of each bank promotion and may change without notice.

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Fifth Third Bank $225 Bonus for Opening a Checking Account

Fifth Third Bank

When you open an eligible Fifth Third checking account with qualifying activities, you'll get $225 automatically added to your balance.

To qualify for this bank promo, provide the offer code (enter your email to get it), open a Fifth Third checking account, and make direct deposits totaling $500 or more within 90 days of your account opening.

This offer expires on June 30, 2023.

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Bank of America $100 Bonus for Opening a Checking Account

Bank of America Corporation

Open a new Bank of America Advantage Banking account online to get $100. There are a few options to pick from, so be sure to read through the offer page for all the differences between those accounts.

After setting up your account, you'll receive the bonus money once you receive qualifying direct deposits of $1,000 or more within 90 days.

This offer expires on June 30, 2023.

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Chase $200 Bonus for Opening a Checking Account

Chase

You can get $200 when you open a Chase Total Checking account and set up direct deposit within 90 days. Or, if you'd rather open a Chase Secure Banking account, there's $100 up for grabs after you make 10 qualifying transactions (outlined in that link).

This offer expires on July 19, 2023.

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Citizens Bank $300 Bonus for Opening a Checking Account

Citizens Bank

Open a new personal Citizens Bank checking account and make a direct deposit of $500 or more within 60 days to receive this bonus.

There's another bonus you can get if you use your new debit card within 60 days. You'll earn money with each purchase you make, up to $100 total.

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SoFi $250 Bonus for Opening a Checking Account

Social Finance, Inc.

SoFi works a little differently. You'll get $50 to $250 when you sign up, depending on your direct deposit amount.

The minimum deposit amount is $1000. For that, you'll receive the lowest sign-on bonus of $50. The next level is $5,000 or more, for which you'll receive the full $250 signup bonus.