Best $500 Checking Account Bonus for September 2025

By Penny Besana
Read more about Checking Account Promotions
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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.

Check out these banks that are practically giving away $500 checking bonuses.

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 cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
    • The offer is for new checking customers only.
    • Offer expires 1/31/2026.
    • 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.
      Cash BonusTotal Qualifying Direct Deposits
      $100$2,000
      $300$5,000
      $500$10,000+
    • If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
    • 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.
  • 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.

  • Banner Bank: Personal Checking Account - $500 Bonus
    Open a new personal checking account. Use offer code 2025DP at account opening. Set up and receive at least $1,000 in direct deposits, and have a minimum daily balance of $25,000 or more within 30 days of account opening and maintain for 90 days.
  • First Merchants Bank: Personal Checking Account - $500 Bonus
    Open a new Advantage Checking account. Use promo code SOCIAL25-2 at account opening. Earn $500 by setting up and completing one qualifying payroll Direct Deposit of $500 or more in the first 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.
  • Arizona Central Credit Union: Personal Checking Account - $500 Bonus
    Open a new qualifying checking account. Sign up for eStatements. Complete 15 qualifying debit card transactions totaling $100 or more within 60 days of account opening. Set up qualifying direct deposits of $1,000 or more per month.
  • CIBM Bank: Personal Checking Account - Up to $500 Bonus
    Open a new Acceleration, Classic, or High Performance Checking account. Use promo code 500FOR2025 at account opening. Earn $100 when you complete 10 debit card purchases of $10 or more each per month in each of the first five full calendar months following the month of account opening. Earn $200 when you set up and receive two or more direct deposits totaling $200 or more per month in each of the first five full calendar months following the month of account opening. Earn $200 when you maintain a minimum balance of $1,000 in each of the first five calendar months following the month of account opening.
  • Community Credit Union Florida: Personal Checking and Savings Account - $500 Bonus
    Open a new checking account. Use promo code MK-$300Checking at account opening. Deposit $1,500 within 60 days of account opening. Set up and receive monthly recurring direct deposit of at least $1,500 for 90 days. Sign up for eStatements.

    Open a new savings account. Use promo code MK-$300Checking at account opening. Deposit a total of $15,000 or more into the new CCU Florida Share Savings account within 30 days of account opening. Maintain a balance of $15,000 or more for 90 days.

  • Community Financial Credit Union: Personal Checking Account - $500 Bonus
    Open a new CloseEnuff™ checking account. Set up and receive a qualifying monthly direct deposit of $5,000 - $9,999.99 within 6 weeks of account opening. Maintain the direct deposit for 90 days from the first direct deposit.
  • Old National Bank: Business Checking Account - $500 Bonus
    Open an Access Business Banking or Pro Access Banking Checking account. Deposit a total of $7,000 or more within 30 days of account opening. Maintain a balance of $7,000 or more in the account for days 31-90 after account opening. Enroll in Small Business Digital Banking and log in within 30 calendar days of account opening. Keep the account active and in good standing for 120 days.
  • Flagstar Bank: Personal Checking Account - $500 Bonus
    Open a new Flagstar Elite Checking account. Maintain an average daily balance of at least $500 for the first 90 days after account opening. Set up and receive one or more direct deposits totaling at least $500 within 90 days of account opening.
  • Union Bank & Trust: Personal Checking Account - $500 Bonus
    Open a Simply Free, Simply Free Plus, Simply Free Platinum, or Premium Interest Advantage Checking account. Set up and receive direct deposits totaling $2,500 or more within 90 calendar days of account opening. Enroll in paperless statements via online or mobile banking within 90 calendar days of account opening.
  • OceanFirst Bank: Personal Checking Account - $500 Bonus
    Open a new FreeStyle+ Checking account. Deposit $25 or more at account opening. Set up and receive qualifying direct deposits totaling $500 or more for at least two monthly cycles.
  • KeyBank: Key Select Checking® - $500 Bonus
    Earn $500 after qualified activities until 12.19.25 with interest-bearing Key Select Checking®.

    • Open a Key Select Checking® account online by December 19, 2025.
    • Make the minimum opening deposit of $50, plus 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

  • KeyBank: Business Checking Account - $500 Bonus
    Open a new KeyBank Basic Business Checking or Key Business Reward Checking® account. Use promo code MDN12025 at account opening. Deposit a minimum of $25 at account opening. Make a total of $5,000 or more in deposits into your new qualifying checking account within 30 days of account opening. Maintain a balance of at least $5,000 for at least 90 consecutive days.
  • M&T Tailored Business Checking Account: $500 Bonus
    Open a new M&T Tailored Business 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.
  • KeyPoint Credit Union: Business Checking Account - $500 Bonus
    Open a new eligible business checking account. Use promo code BUS25 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.
  • Independent Bank: Business Checking Account - $500 Bonus
    Open a new business checking account. Deposit $3,000 or more in new money into the account within 30 days of account opening. Maintain a minimum daily balance of $3,000 for 90 calendar days. Make 20 debit card transactions within 90 calendar days of account opening.
  • Banner Bank: Business Checking Account - $500 Bonus
    Open a new Banner Bank Basic Business Checking, Complete Business Checking (with or without interest) or Complete Plus Business Checking account. Use offer code 2025DP at account opening. Deposit $25,000 or more within 30 calendar days of account opening. Maintain a minimum daily balance of $25,000 or more for 90 days.
  • Newtown Savings Bank: Business Checking Account - $500 Bonus
    Open a new Cornerstone Business Checking account. Use promo code SPECIALBP at account opening. Deposit $1,500 or more at account opening, and maintain a minimum daily balance of $1,500 for 90 days.
  • Fulton Bank: Business Checking Account - $500 Bonus
    Open a new business checking account. Use offer link when opening online or request coupon using your email address when opening in a financial center. Deposit $5,000 or more in new money within 60 days of account opening. Enroll in online banking within 60 days of account opening.
  • Central Bank: Business Checking Account - $500 Bonus
    Open a new eligible business checking account. Use promo code 500BB15 at account opening. Deposit at least $50 at account opening. Reach a balance of at least $3,000 within 90 days from account opening.
  • BayFirst National Bank: Business Checking Account - Up to $500 Bonus
    Open a new business checking account. Earn $250 when the account receives deposits totaling $10,000 or more within a single monthly statement cycle within the first 3 cycles of account opening. Maximum of $500 bonus per client.

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

Learn More
Expires 1/31/2026
  • The cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 1/31/2026.
  • 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.
    Cash BonusTotal Qualifying Direct Deposits
    $100$2,000
    $300$5,000
    $500$10,000+
  • If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
  • 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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