Best $500 Checking Account Bonus for October 2026

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Looking for ways to get $500? Discover these fantastic bank bonus offers that let you score extra cash by opening a new checking account.

PRO TIP: Right now, one of the best $500 checking account bonus can be found with Bank of America. Find out more

Picture this: you open a checking account, fulfill a few requirements, and voila! A cool $500 finds its way into your wallet.

It's an irresistible offer that can put a spring in your finances, making banking a little more exciting.

Several banks, including Bank of America, Chase and TD Bank, are offering $500 checking account bonuses as of October 2026. These typically require opening a new checking account with qualifying activities such as setting up recurring direct deposit.

What banks give $500 bonuses for checking accounts?
Here are some checking accounts to check out:

Other Checking Account Bonus You May Like

How to Get More Than $500 from Banks

Want more rewarding bonuses? See if you qualify for these bank offers with even larger incentives.

What Is a $500 Checking Account Bonus?

A $500 checking account bonus is offered by banks as an incentive to customers for opening a new checking account with them. You have to fulfill certain criteria to earn the bonus, such as:

  • Receive a certain amount in qualifying direct deposits
  • Deposit a certain amount within a specific timeframe
  • Maintain a certain balance

A $500 bonus isn't a small amount, so there are typically higher requirements to earn it. For example, you may need to deposit several thousand dollars (or more) into the new checking account.

These conditions ensure customers engage with the bank's services and maintain an ongoing relationship.

What is a qualifying direct deposit?
Qualifying direct deposits usually include recurring paychecks from an employer, pension, or Social Security/government benefits. Transfer from another bank account or person-to-person transfers do not count.

What to Know About $500 Checking Bonuses

Getting $500 is a great opportunity to earn additional money. But here are some things you should know first:

Bonuses are intended for new customers.
You need to be a new customer to qualify for a checking account bonus. This usually means that you don't have an existing relationship with the bank or you don't have a checking account with them.

If you're an existing bank customer, you may still qualify for a bonus in a different account category. For example, you could apply for a business checking account promo even if you already have a personal checking account.

Requirements can be demanding.
If the bonus offer is $500, it will likely have high deposit requirements. Make sure you can fulfill them.

Some banks offer bonuses without requiring a direct deposit. Check out these bank promotions without direct deposit to learn more about your options.

Eligibility may be limited.
The bonus may not be for everyone. Often banks only extend these bonuses to new customers. If it's a credit union, they usually serve specific states or regions.

It may be for a premium account.
Banks usually offer $500 bonuses on their premium checking accounts to incentivize higher-balance clients. Make sure this type of account fits your needs.

Switching banks is often not necessary.
Typically, these checking account bonuses do not require transferring your entire banking to the new bank. You can keep your existing accounts in other banks as long as you can fulfill the requirements for the bonus.

Can I close the account after receiving the bonus?
Many banks have terms that say you must keep your account open for a certain period after receiving the bonus. If you close it too early, the bank may take back the bonus. This is to prevent people from opening and closing accounts just for the bonus.

How Can I Get a $500 Checking Bonus?

  1. Review the terms and conditions of the $500 offer carefully. Make sure you are qualified to open.
  2. Open the checking account either online or in person based on the offer instructions.
  3. Fulfill requirements, i.e. putting in a minimum deposit, setting up direct deposit, and/or keeping the account open for a period.
  4. Wait for the bank to credit your bonus, which may take several days or weeks.
  5. Keep your account open for the specified duration to avoid forfeiting your bonus.

How are checking account bonuses paid out?
Your checking account bonus will usually be deposited straight into your new account after completing the qualifying requirements. This may take a few days to several weeks.

What Banks Are Paying $500?

  • Bank of America Advantage Banking: Up to $500 Cash Offer
    • The up to $500 cash offer must be opened through the Bank of America promotional page.
    • The offer is for new checking customers only.
    • Offer expires 01/31/2027.
    • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days of account opening.
      Cash BonusTotal Direct Deposits
      $100$2,000
      $300$5,000
      $500$10,000+
    • After the Deposit Period ends, and once you satisfy all the requirements, we will attempt to deposit the earned bonus directly into your new eligible personal checking account within sixty (60) days. The new eligible personal checking account must be open and in good standing up to and including the date any earned bonus is paid.
    • Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
    • Additional terms and conditions apply. See offer page for more details.
    • *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.
    • Bank of America, N.A. Member FDIC
  • TD Bank: Personal Checking and Savings Account - $500 Bonus
    Open a new TD Beyond Checking account and make $2,500 in qualifying direct deposits.

    Open a new TD Signature Savings account. Deposit at least $10,000 within the 20 days of account opening. Maintain a balance of $10,000 or more for 90 days following the initial 20 days from account opening.

  • Citi Checking: $500 Bonus
    Open a new eligible checking account and enroll in this offer the same day the account was opened. Deposit at least $30,000 of new-to-Citibank funds into your new checking account within 45 days of account opening. Maintain $30,000 or more in the account for an additional 45 days after the first 45 days.
  • Wintrust Bank: Personal Checking Account - $500 Bonus
    Open a new Total Access Checking, Access Plus Checking, or Premier Checking account. Use promo code Builder at account opening. Set up and receive qualifying direct deposits totaling $2,000 or more per month for 2 consecutive calendar months after the calendar month the new account was opened. Enroll in online banking and estatements.
  • Truist Bank: Personal Checking Account - $500 Bonus
    Open a new Truist One Checking account or Truist Marquee Checking account. Use the promo code provided on the offer page at account opening. Set up and receive at least two qualifying direct deposits totaling $2,000 or more within 120 days of account opening. Make at least 20 qualifying debit card purchases within 120 days of account opening.
  • Flagstar Bank: Personal Checking Account - $500 Bonus
    Open a new Flagstar Elite Checking account. Set up and receive one or more direct deposits totaling at least $7,500 per month for each of the three calendar months following account opening.
  • Columbia Bank: Personal Checking Account - $500 Bonus
    Open an Advantage Plus Checking account. Set up and receive qualifying direct deposits totaling $2,000 or more within 60 days of account opening.
  • Canyon View Credit Union: Personal Checking Account - Up to $500 Bonus
    Open a new eligible checking account. Set up and receive qualifying direct deposits totaling $1,000 or more per month for 3 consecutive months. Complete 25 or more credit or debit card transactions of at least $5 per month for 3 consecutive months. Open a new auto loan or refinance an auto loan. Keep the account open and in good standing for 6 months.
  • St. Mary's Bank: Personal Checking and Savings Account - $500 Bonus
    Open a new checking account. Use promo code GET500 at account opening. Set up and receive at least 2 recurring direct deposits totaling $1,000 or more into the checking account within 90 days of account opening.

    Open a new savings account. Use promo code GET500 at account opening. Fund the new savings account with at least $2,000 in new money within 30 days of account opening. Establish a monthly recurring deposit of at least $25 within 30 days of account opening and maintain for six consecutive months. Maintain at least a $2,000 minimum average daily balance for six consecutive months.

  • Bankers Trust: Personal Checking Account - $500 Bonus
    Open a Bank with Trust account. Complete 20 qualifying debit card transactions within 60 days of account opening. Set up and receive direct deposits totaling $500 or more within 60 days of account opening.
  • Visions Federal Credit Union: Personal Checking Account - $500 Bonus
    Open a new checking account. Use promo code DD500FALL2026 at account opening. Set up and receive qualifying direct deposits totaling $5,000 or more within 90 days of account opening.
  • TruStone Financial Credit Union: Personal Checking Account - $500 Bonus
    Open a new TruStone Checking account. Set up and receive qualifying direct deposit of at least $5,000 within 60 days of account opening. Enroll in e-statements.
  • Busey Bank: Personal Checking Account - $500 Bonus
    Open a new Pillar Checking account. Use promo code BETTERBUS2 at account opening. Set up and receive qualifying direct deposits totaling $10,000 or more within 90 days of account opening. Enroll in online banking and eStatements within 90 days of account opening.
  • Dedham Savings: Personal Checking Account - $500 Bonus
    Open a new Free & Easy Checking account. Use promo code SELECT at account opening. Set up and receive direct deposits totaling $10,000 or more within 90 days of account opening. Complete at least 5 debit card or bill pay transactions totaling $100 within 90 days of account opening.
  • Citadel Credit Union: Personal Checking Account - $500 Bonus
    Open a new checking account. Use promo code SEPT2650013 at account opening. Set up and receive a qualifying direct deposits totaling $2,000 or more within 90 days of account opening. Maintain a daily balance of $5,000 or more in your new checking account during days 61-90 after account opening.
  • iThink Financial: Personal Checking Account - $500 Bonus
    Open a new qualifying checking account. Use promo code EARN500 at account opening. Set up and receive qualifying direct deposits totaling $1,000 or more within 90 days of account opening. Apply and get approved for a myRewards Visa Signature Credit Card. Maintain an average daily balance of $20,000 or more for the first 90 days.
  • S&T Bank: Personal Checking and Savings Account - $500 Bonus
    Open a new Preferred Checking account. Use promo code STAOC4Q26 at account opening. Set up and receive at least two qualifying direct deposits of $500 or more within 60 days of account opening.

    Open a new Preferred Savings account. Use promo code STAOC4Q26 at account opening. Fund the account with a minimum of $5,000 in new money and maintain a balance of at least $2,000 until April 9, 2027.

  • Santander Bank: Personal Checking Account - $500 Bonus
    Open a new Santander® Private Client Checking, Santander Select® Checking, Simply Right® Checking, or Santander® Essential Checking account. Set up and receive at least one direct deposit within 90 days of account opening. Maintain an average daily balance of at least $5,000 for the first 90 days.
  • Penn Community Bank: Personal Checking Account - $500 Bonus
    Open a new qualifying checking account. Use promo code 500Bonus at account opening. Within 60 days of account opening, set up and receive qualifying direct deposits totaling at least $1,750 OR complete 20 or more debit card purchase transactions that post to the checking account.
  • Elevations Credit Union: Personal Checking Account - $500 Bonus
    Open a new Elevations Summit Dividend or Peak Perks Checking account. Use promo code ECU500 at account opening. Within 90 days of account opening, set up and receive qualifying direct deposits totaling $1,000 or more per month for two consecutive months. Enroll in online banking within 90 days of account opening.
  • Camden National Bank: Personal Checking and Savings Account - $500 Bonus
    Open a Premier or Rewards Checking account. Set up and receive a qualifying direct deposit of $500 or more within 60 days of account opening.

    Open a Promise Savings or High-Yield Savings account. Deposit $10,000 or more in new money within 20 calendar days of account opening. Maintain a minimum daily balance of at least $10,000 for 90 additional days.

  • Hyde Park Bank: Personal Checking Account - $500 Bonus
    Open a new Total Access Checking, Access Plus Checking, or Premier Checking account. Use promo code Builder at account opening. Set up and receive qualifying direct deposits totaling $2,000 or more per month for 2 consecutive calendar months after the calendar month the new account was opened. Enroll in online banking and estatements.
  • Beverly Bank & Trust: Personal Checking Account - $500 Bonus
    Open a new Total Access Checking, Access Plus Checking, or Premier Checking account. Use promo code Builder at account opening. Set up and receive qualifying direct deposits totaling $2,000 or more per month for 2 consecutive calendar months after the calendar month the new account was opened. Enroll in online banking and estatements.
  • Wheaton Bank & Trust Company: Personal Checking Account - $500 Bonus
    Open a new Total Access Checking, Access Plus Checking, or Premier Checking account. Use promo code Builder at account opening. Set up and receive qualifying direct deposits totaling $2,000 or more per month for 2 consecutive calendar months after the calendar month the new account was opened. Enroll in online banking and estatements.
  • Town Bank: Personal Checking Account - $500 Bonus
    Open a new Total Access Checking, Access Plus Checking, or Premier Checking account. Use promo code Builder at account opening. Set up and receive qualifying direct deposits totaling $2,000 or more per month for 2 consecutive calendar months after the calendar month the new account was opened. Enroll in online banking and estatements.
  • Elgin State Bank: Personal Checking Account - $500 Bonus
    Open a new Total Access Checking, Access Plus Checking, or Premier Checking account. Use promo code Builder at account opening. Set up and receive qualifying direct deposits totaling $2,000 or more per month for 2 consecutive calendar months after the calendar month the new account was opened. Enroll in online banking and estatements.
  • Banner Bank: Personal Checking and Savings Account - $500 Bonus
    Open a new personal checking account. Use promo code 2026EM at account opening. Deposit $2,500 or more within 60 days of account opening. Maintain a minimum balance of $2,500 for 90 days.

    Open a new personal savings account. Use promo code 2026EM at account opening. Deposit $5,000 or more within 60 days of account opening. Maintain a minimum balance of $5,000 for 90 days.

  • KeyBank: Key Select Checking® - $500 Bonus
    Earn $500 after qualified activities until 12.11.26 with interest-bearing Key Select Checking®.

    • Open a Key Select Checking® account online by December 11, 2026.
    • Make the minimum opening deposit of $50 and make a total of $5,000 or more in eligible direct deposits within the first 90 days of account opening.
    • Your $500 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.

Compare Checking Account Promotions

$500 Business Checking Offers

  • Chase Business Complete Banking®: Up to $500 Bonus
    • Earn up to $500 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
    • Choose Chase Business Complete Banking® to get a fully integrated business solution that can help you control costs. Waive the $15 Monthly Service Fee in multiple ways like keeping a minimum $2,000 balance, plus use built-in offerings such as card acceptance, invoicing, Chase Customer Insights and Tap to Pay on iPhone
    • Bank with confidence. Feel confident knowing we have the largest branch network in the U.S. with 5,000 branches that provide personalized service and can help with your complex banking needs. You can also benefit from our account protection services, which allow you to monitor account access, checks, and offers additional protection for your business.
    • Access online banking for small businesses. Take advantage of our digital business banking platform with a comprehensive set of features designed for small business owners like you. Our tools enhance your ability to manage cash flow, accept and make payments, create invoices and plan for growth, so you can streamline processes and gain greater control of your finances.
    • More small business owners choose Chase than any other bank
    • The #1 choice for small business banking.
    • Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC
  • Capital One: Business Checking Account - $500 Bonus
    Open a new Basic or Enhanced checking account online. Use promo code SBOFFER500 at account opening. Maintain a minimum end-of-day balance of $5,000 for at least 60 days within 90 days of account opening. Make 10 qualifying electronic transactions within 90 days of account opening.

    Some businesses may need to complete their application in person at a physical bank branch and may not be eligible to sign up online. This promo code offer is valid only for online applications.

  • Hancock Whitney Bank: Business Checking Account - $500 Bonus
    Open a new Preferred Business Checking, Interest Business Checking, or Essential Business Checking account. Use promo code 2034SBCK26 at account opening. Make at least $5,000 in qualifying deposits within 30 days of account opening. Maintain a balance of at least $5,000 in the account for 60 days after the initial 30 days.
  • Fulton Bank: Business Checking Account - $500 Bonus
    Open a new business checking account. Use promo code 26BIZ500 at account opening. Deposit $5,000 or more in new money within 60 days of account opening. Enroll in online banking within 60 days of account opening.
  • KeyBank: Business Checking Account - $500 Bonus
    Open a new KeyBank Basic Business Checking or Key Business Reward Checking account. Make the $25 minimum opening deposit and a total of $5,000 or more within 30 days. Maintain a minimum daily balance of $5,000 or more for the first 90 days.

    You must have received a personalized $500 Business Banking promotional offer letter directly from KeyBank to be eligible for this offer. This offer has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by KeyBank.

  • Citizens Bank: Business Checking Account - $500 Bonus
    Open a new Clearly Better Business Checking® or Business Advisor Checking® account. Make a single deposit of $15,000 or more. Maintain a balance of at least $15,000 through the end of the second month after the initial deposit. Make 5 qualifying transactions within two months following the initial deposit.
  • M&T Bank: Business Checking Account - $500 Bonus
    Open a new Business Essential Checking, Business Plus Checking, or Business Premium Checking account. Use promo code BD at account opening. Maintain an average ledger balance of $15,000 - $29,999.99 in the third full calendar month after opening the account.
  • CIBM Bank: Business Checking Account - $500 Bonus
    Open a new Basic Business Account. Make deposit/s and reach a minimum balance of of $10,000 within the calendar month of account opening or the calendar month following account opening. Maintain a minimum balance of $10,000 in each of the three calendar months following the month of account opening.
  • WaterStone Bank: Business Checking Account - $500 Bonus
    Open a business checking account. Complete 10 or more qualifying transactions within 90 days of account opening. Maintain an average daily balance of $25,000 - $49,499.99 during the third full statement cycle.
  • KeyPoint Credit Union: Business Checking Account - $500 Bonus
    Open a new Elite Business Checking account. Use promo code BUS26 at account opening. Maintain minimum average daily balance of $2,000 for 90 days following account opening date. Complete at least 20 POS purchases of $5 or more using your business debit card within 90 days of account opening.
  • Walden Savings Bank: Business Checking Account - $500 Bonus
    Open a new business checking account. Make 5 qualifying transactions within 90 days of account opening. Maintain an average balance of $10,000 to $99,999 for 90 days. Enroll in online/mobile banking.
  • BOK Financial Bank: Business Checking Account - $500 Bonus
    Open a new Business Access Checking account. Deposit $5,000 or more in new money within 30 days of account opening. Maintain an average daily balance of $5,000 or more for the next 60 days.
  • Golden 1 Credit Union: Business Checking Account - Up to $500 Bonus
    Open a new business checking account. Deposit $10,000 or more in new money within 15 days of account opening. Maintain an average daily balance of at least $10,000 during the first 90 days of account opening. Earn an additional $100 when you open and activate a Merchant Services Clover point-of-sale account or Payroll Services within the first 90 days of account opening.
  • Central Pacific Bank: Business Checking Account - Up to $500 Bonus
    Open and activate a new Elavon Merchant Services account. Receive qualifying deposits from any recognized merchant service provider, such as Elavon, Square, PayPal, and Shopify, into your Business Exceptional Checking account. The new merchant account must be activated by accepting and authorizing a minimum transaction of $10 within 60 days of account approval.
  • First Commonwealth Bank: Business Checking Account - $500 Bonus
    Open a new business checking account. Use promo code FCBIZ2 at account opening. Make 10 qualifying transactions that post and clear to the account within 60 days of account opening. Deposit a total of $5,000 or more within 60 days of account opening.
  • Central Bank: Business Checking Account - $500 Bonus
    Open a new eligible business checking account. Use promo code 500BB21 at account opening. Deposit at least $50 at account opening. Reach a balance of at least $3,000 within 90 days from account opening.
  • Banner Bank: Business Checking Account - $500 Bonus
    Open a new business checking account. Use promo code 2026EM at account opening. Deposit $10,000 or more within 60 days of account opening. Maintain a minimum balance of $10,000 for 90 days.
  • SAFE Credit Union: Business Checking Account - $500 Bonus
    Open a new SAFE business checking account with a SAFE Visa® business credit card. Reach a balance of $5,000 within 30 days of account opening. Enroll in eStatements.

Compare Business Checking Promotions

Things To Look For In a Checking Account

Aside from the cash bonus, it's important to consider if the checking account makes sense for your needs.

Here are some important factors to think about:

  • Monthly fee & balance requirements
    Some accounts may require a minimum balance to avoid a monthly fee or qualify for perks. This will help you determine if the account aligns with your financial situation.

  • Other fees
    Also, look at if there are other fees, like for ATM withdrawals, overdrafts, and other transactions.

  • ATM network
    Consider the size and reach of the bank's ATM network to ensure convenient access to cash withdrawals and other services. If you plan on depositing cash, consider a big national bank.

  • Mobile app features
    A robust and user-friendly mobile app can make things easier. Make sure it has the functions you need, such as mobile check deposit, bill payment options, and other account management tools.

Configure account alerts to receive notifications about important events, such as large withdrawals, low balances, or incoming deposits. These can help you stay informed and take timely actions in your checking account when necessary.

FAQs

How to get $500 from Chase?
If you have a Chase checking account, you can earn up to $500 every calendar year with 10 successful referrals. You will be credited $50 for each referral, provided you and your referral's account remain open at the time of payout.[1]

Will you earn two bonuses if you open a joint checking account?
No, banks and credit unions generally provide one bonus per account, regardless of whether it's an individual or joint account.

Are $500 bank bonuses a good deal?
Yes, a $500 bank bonus can be worth it if you can comfortably meet the requirements and the bank account aligns with your needs. Don't go for a bank bonus if it will stretch your finances or if the account will be too much hassle to maintain.

Do you have to pay taxes on checking bonuses?
Yes, checking account bonuses are typically classified as interest income and, therefore, are taxable. The bank may issue a Form 1099-INT, but even if they don't, you're required to report it on your tax return. [2][3]

References

  1. ^ Chase. Refer your friends, Retrieved 08/03/2025
  2. ^ IRS. Interest Income, Retrieved 08/03/2025
  3. ^ IRS. About Form 1099-INT, Interest Income, Retrieved 08/03/2025

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Bank of America
Member FDIC

Bank of America Advantage Banking - Up to $500 Cash Offer

Expires 1/31/2027
  • The up to $500 cash offer must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 01/31/2027.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days of account opening.
    Cash BonusTotal Direct Deposits
    $100$2,000
    $300$5,000
    $500$10,000+
  • After the Deposit Period ends, and once you satisfy all the requirements, we will attempt to deposit the earned bonus directly into your new eligible personal checking account within sixty (60) days. The new eligible personal checking account must be open and in good standing up to and including the date any earned bonus is paid.
  • Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Additional terms and conditions apply. See offer page for more details.
  • *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.
  • Bank of America, N.A. Member FDIC

Checking Account Promotions

February 5, 2019 - Reviews for Bank Promotions
Score up to $3,000 with the best checking account bonuses.

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