It’s possible to make $100s by opening a new bank account, but sorting through the best offers can be tricky. There’s no shortage of enticing opportunities for banking clients right now.
We’re happy to do the work for you. The Money Crashers team combs through hundreds of bank account deals every month to find you the most lucrative sign-up bonuses – some worth up to $1,000 or more.
Don’t want to miss out? Read on for our roundup of the best bank promotions for this month and the requirements you must meet to qualify for each. Most are available to new customers in all 50 states, but a few have geographical restrictions to bear in mind.
Best Personal Checking Bonuses
BMO Smart Advantage Checking account – $400 Cash Bonus*
BMO has another easy-to-attain new bank account promotions that’s very similar to ones previously offered earlier this year.
Open a new BMO Smart Advantage Checking account or BMO Smart Money Checking account by September 8, 2025, and get a $400 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening.
- Unlimited transactions at in-network ATMs (40,000+ ATMs nationwide)
- $0 monthly fees with paperless statements
- No minimum balance
Disclaimer: This new checking account offer is limited to one per customer. It’s not available to current BMO personal checking customers nor previous customers who closed a BMO or Bank of the West personal checking account within the past 12 months. You can open your account online or at a BMO branch. *Conditions apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC
SoFi Checking and Savings – up to $300 Bonus
Open a new SoFi Checking and Savings account and complete qualifying activities to earn a cash bonus worth up to $300.
To get started, set up direct deposit from a qualifying payer. You must receive at least one qualifying direct deposit — and a minimum of $1,000 in total deposits — within the 25-day qualification period.
The bonus tiers depending on how much you direct deposit are as follows:
- Earn a $50 Bonus with cumulative direct deposits between $1,000 and $4,999.99
- Earn a $300 Bonus with cumulative direct deposits between $5,000 or more
Students and young adults ages 17 through 23 qualify for additional perks, such as no monthly maintenance fee and no minimum balance requirements.
Disclaimer: This offer is available to new and existing SoFi users who’ve never been enrolled in direct deposit with SoFi. See terms for additional details.
PNC Virtual Wallet – up to $400 Bonus
Earn a bonus worth up to $400 when you open a new PNC Virtual Wallet by June 30, 2025 and complete qualifying activities.
Within 60 days of opening your account, make a qualifying direct deposit(s) as follows to earn the respective bonus amount:
- Earn a $100 Bonus with direct deposit(s) totaling $500+ if you open a Virtual Wallet account
- Earn a $200 Bonus with direct deposit(s) totaling $2,000+ if you open a Virtual Wallet with Performance Spend
- Earn a $400 Bonus with direct deposit(s) totaling $5,000+ if you open a Virtual Wallet with Performance Select
Your bonus will be credited to the eligible account within 60 to 90 days after you’ve met all conditions. Your Virtual Wallet product must remain open in order for you to receive the reward.
This offer is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet is offered in the state of MO with the exception of the greater Kansas City area. Offer is contingent on product availability and may vary based on your address and where and how you open your account.
If you’re located in AK, AR, CT, HI, ID, IA, KS, LA, ME, MA, MN, MS, MT, NE, NV, NH, ND, OK, OR, RI, SD, TN, UT, VT, WA, WY you can receive a $200 bonus with the PNC Virtual Wallet Checking Pro account. Also offered in the state of MO only in the greater Kansas City area
TD Bank Beyond Checking℠ – $300 Bonus
Earn a $300 cash bonus when you apply online for a TD Bank Beyond Checking℠ account by June 30, 2025 and complete qualifying direct deposits.
For this bonus, you’ll need to receive direct deposits of $2,500 or more within 60 days.
To waive the monthly fees, complete at least one of the following each statement cycle:
- Receive direct deposits of $5,000 or more
- Maintain a minimum daily balance of $2,500
- Maintain a combined balance of $25,000 across your eligible TD accounts
This offer is only available if you live in the following states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA To qualify for this offer, you must be a U.S. resident, a new customer and apply for the offer online.
Chase Total Checking® – $300 Bonus
Open a new Chase Total Checking® account to earn one of the easiest bank account opening bonuses available.
All you have to do is open your account by July 16, 2025 and set up a qualifying direct deposit within 90 days of coupon enrollment. You’ll receive your $300 bonus within 15 business days.
$12 monthly fee can be waived if you meet at least one of the following criteria in each monthly statement period:
- Execute electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNowSM network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network
- Maintain a balance at the beginning of each day of $1,500 or more in this account.
- Maintain an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.
- Pay at least $25 or more in qualifying checking-related services or fees.
Disclaimer: This offer is available online nationwide, except for residents of AK, HI, and PR.
Bank of America Bonus Offer
Earn a $300 bonus when you complete required activities. Click Learn More for more details.
To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Once all requirements are met, Bank of America will attempt to pay the bonus within 60 days.
*A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page, linked below. The offer expires June 30, 2025 and is for new checking customers only.
Additional terms and conditions apply. Bank of America, N.A. Member FDIC. 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. Requires offer code: AFC300CIS
Why Banks Offer Sign-Up Bonuses
You probably wonder why banks offer sign-up bonuses. Why would they give away ‘free money’?
The answer is simple – marketing.
Think about which bank account you’d be more willing to open: one with no sign-up bonus or one that pays you a couple hundred dollars to open and maintain.
Banks use sign-up bonuses as a marketing tool to get more customers. They figure that by offering the bonuses, they’ll get your business for the new account, plus you might use their other banking services, making the bank even more money.
How to Qualify for a Bank Bonus
Each bank has different requirements to qualify for a bank bonus. The key is to read the fine print to understand how to qualify. Most banks require more than simply opening an account.
For example, they may require a certain number of transactions or a minimum direct deposit. Be sure you can meet the requirements before choosing a bank bonus, paying close attention to the dates that coincide with the bonus.
For example, if a bank requires a minimum balance to earn the bonus, they usually specify how long you must keep the balance in the account either by the number of days or a specific date.
How Bank Bonuses Are Taxed
Bank bonuses, unlike credit card bonuses, are taxed. Just like you’d pay tax on interest earned on your bank account, you’ll pay interest on any bank bonuses, as the IRS considers it interest earned.
Don’t worry about remembering to claim the bank bonus. If you earn a bank bonus, the bank will send you a 1099-INT with the bonus included on the statement so you don’t forget to claim it on your taxes.
How Many Bank Accounts Should You Have?
You can have as many bank accounts as you want, but ideally, you should at least have a checking and savings account.
The savings account should hold the funds meant for an emergency fund or other financial goals. If you can manage the accounts and find accounts that won’t cost you a monthly maintenance fee, you can have even more accounts.
Keeping a separate emergency fund, for example, is usually suggested because it eliminates the risk of spending the money on another goal, leaving nothing for those unprecedented emergencies.
However, don’t open more bank accounts than you can manage or have bank accounts that cost you monthly maintenance fees because you have your money spread out amongst the accounts and can’t meet the minimum balance requirements to waive the monthly maintenance fees.
Are Bank Bonuses Worth It?
Bank bonuses are always worth it as long as you don’t open accounts that will cost you a monthly maintenance fee. Just ensure you can meet the requirements to meet the bank promotion and waive the monthly fee.
Final Word
Take your pick of these bank promotions. You’ve earned them. But don’t let bank account bonuses have the last word on where you choose to bank.
When choosing a bank, it’s important to find one that suits your needs – whether that’s favorable interest-bearing accounts, low or no fees, overdraft protection, access to potentially lucrative cash-back credit cards, or mobile-friendly online banking features.
Bank account promotions for new customers are wonderful, but taking advantage of permanent perks is a long-lasting bonus in its own right. You deserve a bank that’s willing to work every day to earn your business.