The Top Bank Promotions That Will Get You Free Money

The Best New Bank Account Sign Up Bonuses

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.

01
of 05

Citizens Bank $400 Bonus for Opening a Checking Account

Citizens Bank logo

Citizens Bank

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

There are several checking accounts that fall under this deal: One Deposit Checking from Citizens, Citizens EverValue Checking, Student Checking, Citizens Quest Checking, and Citizens Wealth Checking.

Check out the table on their website for the specific date you'll get your bonus, depending on the month you open your account.

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.

This offer expires September 29, 2022.

02
of 05

Fifth Third Bank $375 Bonus for Opening a Checking Account

Fifth Third Bank logo

Fifth Third Bank

When you open an eligible Fifth Third checking account with qualifying activities, you'll get $375 automatically added to your balance.

To qualify for this bank promo, provide the offer code (you might need to contact the bank for this), open a Fifth Third Momentum Checking or Preferred2 checking account by September 30, and make direct deposits totaling $500 or more within 90 days of your account opening.

This offer expires September 30, 2022.

03
of 05

Chase $200 Bonus for Opening a Checking Account

The Chase bank logo.
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 October 19, 2022.

04
of 05

Bank of America $100 Bonus for Opening a Checking Account

Bank of America logo

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 December 31, 2022.

05
of 05

SoFi $300 Bonus for Opening a Checking Account

SoFi logo

Social Finance, Inc. 

SoFi works a little differently. You'll get anywhere from $50 to $300 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 $100 for depositing $2,000 or more. If you reach $5,000, you'll get the full $300 signup bonus.

This promotion is ongoing.