To attract new customers, many banks often offer a sign-up bonus when you open a new account. For checking accounts specifically, these bonuses can be at least $100. Qualifying is usually easy: New account holders typically just need to make a minimum deposit or set up direct deposit.
Why do banks offer sign-up bonuses?
Banks use sign-up bonuses to distinguish themselves from others in the industry. Cash bonuses also help financial institutions bring in new customers and new deposits. While they could pay account holders a higher yield, for some banks, offering a bonus is preferable.
Which banks offer checking account bonuses?
Banks currently offering generous bank bonuses for checking accounts include Citi, Bank of America, Citizens Bank and Truist. Numerous banks offer bonuses for opening a checking account and meeting qualifying requirements. You can often find checking account bonuses for personal, student and business checking accounts.
