Best Bank Account Bonuses, Offers, Promotions of September 2024

Each time we go shopping, we hunt for discounts. Be it a grocery store, a restaurant, or financial products, we compare prices and hope to obtain the best bargain.

Moreover, after doing a little homework, it’s possible to find ways to save money and improve your financial health. For example, banks aim to attract new customers and keep existing ones by offering bonuses and promotions. And often, this provides us with opportunities to make money-savvy moves.

Why Should You Trust ElitePersonalFinance?

With accuracy and accountability in mind, we pride ourselves on presenting the latest information from the most trusted sources. And our goal is to help you find the best products available in the marketplace. Moreover, we hope that our study will make it easier to contrast quality bonus offers from those that only look good on the surface.

To that point, we gathered the data by analyzing promotional offers at traditional banks, online banks, mobile-only banks and credit unions. And interestingly, our study revealed:

• Regional banks have the best checking account bonuses.
• Credit unions and traditional banks have the best savings account bonuses.
• Mobile-only banks have the best referral bonuses.

However, since the details reveal the true story, please continue reading to find out if a bonus offer can improve your financial health.

Best Bank Promotions of September 2024

We went directly to the source to determine the best offers available in today’s marketplace. At ElitePersonalFinance, we combed through financial institutions’ websites and compiled a list of the best bonus offers for 2022. Moreover, we arranged the offers by checking, savings, and referral bonuses. In addition, we’ll continue to update the list as promotional offers expire.

Checking Account Bonuses

With bonus offers that range from $50 to $1,500, switching to a new financial institution can provide you with checking account perks that are worthy of the deposit.

Citibank

Checking Bonus:	Up to $1,500
Required Deposit:	$15,000-$200,000
Expiration Date:	Jul. 17, 2022
FDIC/NCUA Insured:	Yes
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Offering new clients the chance to earn up to $1,500 in checking account bonuses, Citibank has an offer that may fit your needs. However, the deposit minimums are pretty steep and are only suitable for large accounts. For example, Citibank’s tiered deposit structure is as follows:

• Receive a $300 cash bonus if you deposit $15,000 to $49,000 in an eligible Citibank checking account.
• Receive a $700 cash bonus if you deposit $50,000 to $199,000 in an eligible Citibank checking account.
• Receive a $1,500 cash bonus if you deposit $200,000 or more in an eligible Citibank checking account.

The critical point is that Citibank starts the deposit clock on the 20th day after opening the account. And from then on, you need to keep your daily balance within the minimum deposit ranges for 60 days to receive the total bonus. Moreover, if your daily balance falls to a lower minimum range within the 60 days, you only qualify for that range’s bonus. For example, if you hold $50,000 in your account for 50 days and then the balance drops to $49,000 on day 51, you will receive a $300 bonus instead of a $700 bonus. For context, you can split the funds between your Citibank checking and savings accounts. However, the rules regarding the deposit minimums still apply.

Moreover, Citibank’s Basic Banking Package is the cheapest option available. And you can avoid the $12 monthly maintenance fee if you make one qualifying direct deposit and one bill payment each month. Or, Citibank waives the fee if you hold an average daily balance of $1,500 across all your eligible deposit accounts.

Pros:

• Citibank offers a hefty bonus if you can meet the deposit requirements.
• Citibank has 65,000 fee-free ATMs across the United States.

Cons:

• The bonus isn’t attainable for individuals with small account balances.

Who is the account best suited for?

• If you have a high amount of liquid cash and receive regular paychecks, the bonus offer may be right for you.

The impact of COVID-19:

As a titan of Wall Street, Citibank’s investment banking division thrived during the pandemic. And with record profits not far behind, Citibank is putting some of that cash to work to try and win new retail clients.

First National Bank

Checking Bonus:	Up to $400
Required Deposit:	$1,500-$2,500
Expiration Date:	Dec. 31, 2022
FDIC/NCUA Insured:	Yes
Learn More

First National Bank offers new clients the opportunity to earn up to $400 in bonus cash by following a few simple steps. However, please note that First National Bank serves clients in 8 states. As a result, the promotion isn’t available nationwide. However, the offer should be on your radar if you reside in Pennsylvania, Ohio, Maryland, the District of Columbia, Virginia, North Carolina, South Carolina, or West Virginia. It works like this: you receive a $400 cash bonus if you open a First National Bank checking account, make direct deposits worth $2,500 and make ten online bill payments within the first 90 days. Moreover, the promotion can be split, where you can earn a $150 bonus for making direct deposits worth $1,500 or making ten online bill payments within the first 90 days. The choice is yours.

If you think the offer is right for you, a First National Bank Freestyle Checking Account seems like a winner. You don’t have to worry about a minimum balance, and there is no monthly maintenance fee if you opt for online statements. In addition, you can write an unlimited number of checks, and your Visa Debit Card is functional with digital wallets.Furthermore, if you’re an existing client, you can also capitalize on the promotion by upgrading to a Penguins Power Play Package. The account has an annual fee of $25. However, it comes with valuable perks that are beneficial for Pittsburgh Penguins fans:

• You receive Penguins branded checks and a team debit card.
• You receive discounts on game ticket purchases.
• You receive 15% off on PensGear purchased at the arena, Cranberry and Southside Works.

Pros:

• First National Bank offers a sweet bonus and the eligibility requirements are achievable.
• The promotion is open to new and existing clients.

Cons:

• The offer is only available in select states.

Who is the account best suited for?

• If you live in one of First National Bank’s service regions, it’s a solid bonus offer.
• If you’re a Penguins fan, the added perks may be worth the $25 fee.

The impact of COVID-19:

Offering relief programs and access to Paycheck Protection Plan (PPP) funds, First National Bank helped Americans bank with confidence during the pandemic. And while some branches suffered temporary closures, First National Bank ‘s online solutions helped fill the void.

PNC Bank

Checking Bonus:	Up to $400
Required Deposit:	$500-$5,000
Expiration Date:	Feb. 28, 2022
FDIC/NCUA Insured:	Yes
Learn More

At PNC Bank, up to $400 in bonus cash can be yours by opening a new Virtual Wallet. For context, the account combines checking and savings and helps ease the transition to mobile banking. Also, PNC Bank offers services in 29 states. So make sure to check if your region applies. If so, the promotion is tiered and applies to the following accounts:

• Receive a $50 bonus when you open a Virtual Wallet and direct deposit $500 or more within 60 days.
• Receive a $200 bonus when you open a Spend Virtual Wallet and direct deposit $2,000 or more within 60 days.
• Receive a $400 bonus when you open a Select Virtual Wallet and direct deposit $5,000 or more within 60 days.

Now, a Virtual Wallet has no minimum deposit requirement. However, a $7 monthly maintenance fee applies unless you fulfill one of the following conditions:

• Direct deposit at least $500 per month.
• Hold a monthly balance of at least $500.
• You’re 62 or older.

Spend Virtual Wallet has no minimum deposit requirement. However, a $15 monthly maintenance fee applies unless you fulfill one of the following conditions:

• Direct deposit at least $2,000 per month.
• Hold a monthly balance of at least $2,000.
• Hold $10,000 across all of your PNC Bank deposit accounts.

Also, please note that WorkPlace Banking or Military Banking customers only need to direct deposit at least $1,000 per month to avoid the maintenance fee. Finally, a Select Virtual Wallet has no minimum deposit requirement. However, a $25 monthly maintenance fee applies unless you fulfill one of the following conditions:

• Direct deposit at least $5,000 per month.
• Hold a monthly balance of at least $5,000.
• Hold $25,000 across all of your PNC Bank deposit accounts.

Pros:

• PNC Bank offers a competitive bonus, and its Digital Wallets include helpful banking tools.

Cons:

• The offer is only available in select states.

Who is the account best suited for?

• If you’re comfortable with mobile banking, PNC Bank could be right for you.
• PNC Bank has branches in 29 states, so in-person help is available to those residents.

The impact of COVID-19:

While PNC Bank is well-known as a traditional institution, the pandemic gave it a chance to spread its mobile wings. For example, mobility restrictions allowed PNC Bank to market its Virtual Wallets. And with the bank combining traditional security with mobile freedom, it’s a viable adversary to all Fintechs.

BMO Harris Bank

Checking Bonus:	Up to $350
Required Deposit:	$4,000-$7,500
Expiration Date:	Jan. 28, 2022
FDIC/NCUA Insured:	Yes
Learn More

With solid bonus offers from BMO Harris Bank, it pays to open a new checking account. And depending on your preferred option, your cash reward ranges from $200 to $350. The promotion looks like this:

• Receive a $200 bonus when you direct deposit at least $4,000 in your Smart Advantage Account within the first 90 days.
• Receive a $200 bonus when you direct deposit at least $4,000 in your Smart Money Account within the first 90 days.
• Receive a $350 bonus when you direct deposit at least $7,500 in your Premier Account within the first 90 days.

A BMO Harris Bank Smart Advantage Account is likely the best option when weighing the pros and cons. And why is that? Well, with no maintenance fees when you opt for online statements and no minimum balance requirements, your only obligation is to make an initial deposit of $25 when you open the account. As a result, it’s a no-fee way to earn a $200 bonus.

A BMO Harris Bank Smart Money Account has a $5 monthly maintenance fee as a secondary choice. However, it’s free of charge if you’re under the age of 25. Also noteworthy, a Smart Money Account has no overdraft fees or non-sufficient funds (NSF) fees. Conversely, a Smart Advantage Account charges $36 for each, respectively. As a result, the Smart Money Account could be right for you if you think you’ll save money on miscellaneous charges.

Finally, a BMO Harris Bank Premier Account works best for individuals that can maintain a checking account balance of at least $10,000. That way, you can avoid the $25 monthly maintenance fee.

Pros:

• BMO Harris Bank offers a $200 bonus if you open a no-fee checking account.

Cons:

• In-person service is only available in select states.

Who is the account best suited for?

• BMO Harris Bank offers nationwide online banking and has more than 500 branches in eight states.
• If you value in-person service, BMO Harris Bank has you covered in select states.

The impact of COVID-19:

While BMO is a significant player in the Canadian market, its footprint in the U.S. is much smaller. As a result, the promotional offer aims to lure customers away from the most prominent competitors. And with plenty of pandemic stimulus still out there, BMO Harris Bank must feel that now is the right time to proposition new prospects.

TD Bank

Checking Bonus:	Up to $300
Required Deposit:	$500-$2,500
Expiration Date:	Mar. 31, 2022
FDIC/NCUA Insured:	Yes
Learn More

TD Bank is also offering a $300 bonus if you open a TD Beyond Checking Account. However, you need to make direct deposits that total $2,500 within 60 days to obtain the reward. Likewise, you can earn a $150 bonus if you open a TD Convenience Checking Account. And the promotion requires you to make direct deposits that total $500 within 60 days.

Moreover, to avoid a monthly maintenance fee of $25 with a TD Beyond Checking Account, you have to meet one of these three expectations:

• Have $5,000 worth of direct deposits during the month.
• Have a minimum daily balance of $2,500 in the account.
• Hold $25,000 in combined assets across eligible TD Bank accounts.

However, to avoid a monthly maintenance fee of $15 with a TD Convenience Checking Account, you only need to meet one condition:

• Have a minimum daily balance of $100 in the account.

Also, please note that TD Bank waives the requirement for Americans aged 17 to 23. As a result, if you’re a young adult or have the ability to maintain a $100 balance each month, a TD Convenience Checking Account is a solid choice.

Pros:

• A TD Convenience Checking Account qualifies for the $300 bonus offer.
• The group’s vast banking network and large employee base allow for reliable customer service.

Cons:

• TD Bank operates in 16 states and the offer may not be available in your area.

Who is the institution best suited for?

• TD Bank is one of the best options if you live in the service regions.
• If you like the idea of having a branch near you, TD Bank may be right for you.

The impact of COVID-19:

TD Bank, like BMO, is a significant player in the Canadian market looking to grow its asset base in the U.S. Thus, the group’s promotion seeks to capitalize on Americans’ pandemic cash balances.

Huntington National Bank

Checking Bonus:	Up to $300
Required Deposit:	$1,000-$25,000
Expiration Date:	Feb. 7, 2022
FDIC/NCUA Insured:	Yes
Learn More

At Huntington National Bank, up to $300 in bonus cash can be yours, depending on the checking account that you choose. For context, all accounts have to be kept open for at least 90 days. Also, please note that Huntington National Bank only provides services in 12 states.

• An Asterisk-Free Checking Account earns a $150 bonus if you deposit $1,000 within 60 days.
• A Huntington 5 Checking Account earns a $200 bonus if you deposit $1,000 within 60 days.
• A Huntington 25 Checking Account earns a $300 bonus if you deposit $25,000 within 60 days.

While it depends on your deposit habits, an Asterisk-Free Checking Account is likely your best bet. For example, there are no monthly maintenance fees, and you don’t have to worry about maintaining a minimum balance. In addition, paper statements are available free of charge. However, out-of-network ATM fees are $3 per transaction, overdraft fees are $36, bank checks are $6, and stop payments are $31.

Despite that, a Huntington 5 Checking Account has a $5 monthly maintenance fee — but Huntington National Bank will waive the fee if you house $5,000 across your combined deposit and investment accounts. Moreover, the fee schedule is nearly identical to an Asterisk-Free Checking Account. For example, out-of-network ATM fees are $3 per transaction, overdraft fees are $36, bank checks are $6, and stop payments are $31. However, a Huntington 5 Checking Account has some additional perks:

• You can make five free out-of-network ATM withdrawals per month.
• Your account includes free credit score monitoring.
• Your checking account earns interest.

Please note that a Huntington 5 Checking Account has a 0.02% APY, and you won’t accrue much interest. As a result, both accounts have pros and cons: an Asterisk-Free Checking Account has a lower bonus offer ($150) and fewer perks, but you don’t have to worry about monthly maintenance fees. Likewise, a Huntington 5 Checking Account has a higher bonus offer ($200) and more perks, but it will cost you $5 per month unless you have $5,000 in combined assets at the bank.

Pros:

• You can avoid fees and earn a $150 bonus by opening an Asterisk-Free Checking Account.
• A Huntington 5 Checking Account has additional perks and you won’t pay fees if you deposit $5,000.

Cons:

• The offer is only available in 12 states.

Who is the institution best suited for?

• If you live in one of the 12 states, you have access to more than 1,100 branches and 1,700 ATMs.
• The bonus offer is great for those who want a no-fee checking account and value in-person service.

The impact of COVID-19:

With Huntington National Bank offering mortgage loans, wealth management services, and brokerages services, Americans’ pandemic riches should have resulted in plenty of fees for the bank. And as investors cash in some of those gains, Huntington National Bank hopes that its bonus offer will help generate new deposits.

M&T Bank

Checking Bonus:	Up to $250
Required Deposit:	$500
Expiration Date:	Mar. 31, 2022
FDIC/NCUA Insured:	Yes
Learn More

As a sold welcome offer from M&T Bank, the institution offers a $250 welcome bonus if you open an M&T EZChoice Checking, MyChoice Plus Checking, or a MyChoice Premium Checking account and make a $500 direct deposit within 90 days of approval. For context, qualifying direct deposits include payroll, pension, and Social Security benefits. However, please note that M&T Bank serves clients in 11 states across the eastern and mid-western United States.

However, if you’re looking to refresh your deposit accounts, an M&T EZChoice Checking Account is a solid option. For context, the account is the cheapest of the three since the other two have direct deposit requirements or average daily balance requirements to avoid monthly maintenance fees. In contrast, an M&T EZChoice Checking Account does away with monthly charges and minimum balance requirements. Moreover, unlike other institutions, you can receive paper account statements free of charge. However, there is a $25 opening balance requirement, and M&T Bank’s fee disclosures show that out-of-network ATM fees are $3.00 per transaction. However, more than 1,600 fee-free ATMs are available across the U.S. In addition, the institution charges $10.00 for bank checks, $6.00 for money orders, $38.50 for overdraft charges, and $35.00 for stop payments. In addition, there is a $50 fee if you close your account within the first 180 days.

Pros:

• You pay zero monthly fees when you open an M&T EZChoice Checking Account.
• The account also has digital wallet capabilities — with access to Apple Pay, Google Pay, and others.

Cons:

• The offer is only available in select states.

Who is the account best suited for?

• The institution has branches and ATMs located in 11 states across the eastern and mid-western United States.
• If you live in these regions, an M&T EZChoice Checking Account may be right for you.

The impact of COVID-19:

Like its predecessors, M&T Bank’s promotions help build new customer relationships. And with the pandemic forcing Americans to hunker down and stay close to home, dependable connections have never been more valuable.

HSBC

Checking Bonus:	$450
Required Deposit:	$15,000
Expiration Date:	Mar. 31, 2022
FDIC/NCUA Insured:	Yes
Learn More

HSBC offers a $450 bonus if you open an HSBC Premier Checking Account. However, the offer has plenty of hurdles to overcome. For example, you have to make three-straight $5,000 monthly direct deposits beginning from the second month when the account opens. In addition, to avoid a $50 monthly maintenance fee, you need to meet one of the following requirements:

• Have $75,000 in combined assets across your HSBC deposit and investments accounts.
• Make direct deposits of at least $5,000.
• Have a single HSBC U.S. residential mortgage of $500,000 or more.

As a result, the account is most suitable for wealthy Americans that travel a lot. For example, an HSBC Premier Checking Account has no foreign transaction fees and includes no-fee international ATMs and priority service at international branches.

Pros:

• HSBC has a solid bonus offer and its Premier Checking Account has plenty of perks.

Cons:

• To earn the bonus, you need to have a large asset base and/or make large recurring deposits.

Who is the institution best suited for?

• An HSBC Premier Checking Account is best for wealthy Americans that value international banking services.
• HSBC is a global bank and can add value if you own property or assets in many countries.

The impact of COVID-19:

Like many traditional banks, HSBC has befitted from higher asset prices and countries’ generous stimulus programs. However, with China’s property woes likely to negatively impact HSBC’s loan portfolio, too much of a good thing could end up being harmful.

Santander Bank

Checking Bonus:	$400
Required Deposit:	$6,000
Expiration Date:	Jan. 28, 2022
FDIC/NCUA Insured:	Yes
Learn More

If you have $25,000 available for deposit, Santander Bank has a $400 bonus offer that may pique your interest. For example, the $400 reward is yours if you open a Santander Select Checking Account and make $6,000 in direct deposits within 90 days. Moreover, you can also earn another $200 if you maintain an average daily balance of $6,500 during that same timeframe. Also, please note that Santander Bank offers services in 9 states, so it’s best to check if your region is available.

However, the $25,000 that we referenced relates to the minimum balance required to avoid a $25 monthly maintenance fee with a Santander Select Checking Account. For context, the total includes eligible consumer, business, and investment products held with the bank. However, there are no monthly minimum balance requirements (though. $25 is required to open the account), and paper account statements are also free. Likewise, you’re eligible for $30 in rebates per month for out-of-network ATM fees, and you can forget about foreign transaction fees when you use your debit card to make ATM withdrawals. Also, please note that Santander Bank has more than 30,000 fee-free ATMs worldwide.

Also noteworthy, a Santander Select Checking Account has no fees for bank checks, money orders, or stop payments. However, overdraft charges are $35. As a comparison, Chase Bank charges $8.00 for bank checks, $5.00 for money orders, $34.00 for overdraft charges, and $30.00 for stop payments. Citizens Bank charges $10.00 for bank checks, $5.00 for money orders, $37.00 for overdraft charges, and $35.00 for stop payments. As a result, if you find yourself incurring regular expenses for bank checks, money orders, or out-of-network ATM fees, a Santander Select Checking Account may be worth the $25 per month.

Pros:

• Santander has a solid bonus offer and you can earn up to $600 by maintaining a large daily balance.
• A Santander Select Checking Account allows you to avoid fees that are inherent with comparable offers.

Cons:

• The offer is not available in all states.

Who is the institution best suited for?

• If you’re located in the northeast United States, Santander Bank may be right for you.

The impact of COVID-19:
With Eastern states imposing harsher lockdowns during the pandemic, Santander Bank’s branches were likely affected. However, its Florida location likely benefited from the looser restrictions. Despite that, Santander Bank’s mobile app helped its customers bank with confidence during the pandemic.

Citizens Bank

Checking Bonus:	$300
Required Deposit:	$500
Expiration Date:	Feb. 17, 2022
FDIC/NCUA Insured:	Yes
Learn More

With Citizens Bank offering a high reward for little effort, the institution provides a $300 welcome bonus for opening a checking account and setting up a single direct deposit of at least $500 within 60 days of the account’s open date. In addition, you can also receive $2 per qualified debit purchase (up to $100 maximum) within the first 60 days.

To determine if Citizens Bank is right for you, please note that banking services are only available in 12 states. However, if you live in the eastern United States, more than 1,000 branch locations are available. Furthermore, Citizens Bank’s physical footprint allows you to speak with a representative in-person, which usually isn’t an option with online or mobile-only banks. Likewise, a Citizens Bank One Deposit Checking Account incurs a maintenance fee of $9.99 per month. However, you can avoid the charge if you deposit “any amount” per month. As a result, it’s a relatively low bar to overcome.

Also, an important determinant you should consider is whether other account fees fit your banking lifestyle. For example, Citizens Bank charges $10.00 for bank checks, $5.00 for money orders, $37.00 for overdraft charges, and $35.00 for stop payments. Moreover, paper account statements cost you $3, and foreign currency conversions cost $15. In contrast, Quontic Bank’s fee disclosures show that bank checks and money orders are free of charge, you won’t suffer overdraft fees, and a stop payment costs $20. For context, Quontic Bank is an online-only institution that’s also FDIC-insured. As a result, you should weigh the higher account fees against the value of in-person service to determine if it’s worth taking advantage of the bonus offer.

Pros:

• Citizens Bank has a simple everyday checking account.
• There is no monthly maintenance fee as long as you deposit money at least once per month.

Cons:

• The offer is only available in select states.

Who is the account best suited for?

• Citizens Bank has roughly 3,000 ATMs and 1,000 branches in the New England, Mid-Atlantic, and Midwest regions.
• Americans in these areas may find the promotional offer profitable and convenient.

The impact of COVID-19:

Since the pandemic has increased the money supply, the competition for access to consumers’ wallets has intensified. And since 12 other retail banks have more assets on their balance sheets, Citizens Bank is offering a solid bonus to help attract new clients.

Central Bank

Checking Bonus:	$300
Required Deposit:	$52
Expiration Date:	Dec. 31, 2022
FDIC/NCUA Insured:	Yes
Learn More

As a community bank that offers services in Missouri, Central Bank has an attractive checking account promotion for residents. For example, you receive a $300 bonus if you open a MyChoice Checking, MaxMoney Checking, Free Checking, Preferred Interest Checking, or a World Checking Account and make two direct deposits within 90 days. In addition, you need to deposit an additional $50 when you open the account. For context, Central Bank does not specify a minimum amount for the deposits. The only requirement is that they be your paycheck, pension, or recurring government benefits.

We think your best bet is a MyChoice Checking Account when parsing through the options. For context, a Free Checking Account has no monthly maintenance fee and no minimum balance requirement. However, there is an unlisted monthly fee to pay bills, and you have to opt for online account statements. And while a MyChoice Checking Account has a monthly maintenance fee of $3, you can avoid the fee if you make one recurring direct deposit each month. Moreover, the account has free bill payments if you choose online account statements, and most individuals will value this feature. As a result, a MyChoice Checking Account is Central Bank’s cheapest and best option that will earn you a $300 sign-up bonus.

Pros:

• Central Bank offers a $300 bonus to open a checking account, and two accounts have next to no fees.

Cons:

• Central Bank is a community bank that only operates in Missouri.

Who is the institution best suited for?

• If you’re located in Missouri, Central Bank can fulfill all of your banking needs.
• Central Bank has more than 140 locations across the midwest region and several ATMs.

The impact of COVID-19:

Central Bank’s mortgage and corporate finance divisions should have thrived during the pandemic like many other institutions. However, with forbearance programs likely delaying some of Central Bank’s interest income, the pandemic may have been a mixed bag for institutions with less exposure to the capital markets.

Fifth Third Bank