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Best Bank Promotions and Bonus Offers for July 2024

What banks are offering the best deals for new accounts? View current list of bonus offers and incentives. Earn a bonus for opening a new bank account.

Thinking about opening a new personal checking, savings, or business account? Here are the best banking promotions - all in one list. Be sure to read the details to understand the requirements and eligibility.

Bank Promotion LinkOfferReview
Chase Private Client Checking℠Up to $3,000 BonusReview
Chase Total Checking®$300 BonusReview
Discover® Online Savings$200 BonusReview
Discover® Online Savings$150 BonusReview
Chase College Checking℠$100 BonusReview
Chase Secure Banking℠$100 BonusReview
BMO Relationship Checking $500 Cash BonusReview
U.S. Bank Smartly® CheckingUp to $450 BonusReview
BMO Smart Advantage Checking$350 Cash BonusReview
BMO Smart Money Checking$350 Cash BonusReview
KeyBank Key Select Checking®$200 BonusReview
KeyBank Key Smart Checking®$200 BonusReview
Fifth Third Bank Personal Checking Account$200 BonusReview

What banks are having promotions? This list is updated monthly to bring you the best bank bonuses and deals. Bookmark it and check back often.

Top New Bank Account Bonuses and Promotions

Many bank deals pay new customers to open an account. You get a cash bonus for opening an account and meeting certain deposit requirements. FDIC-insured bank accounts also protect your money safely.

Are bank bonuses for opening a new account worth it?

Checking Account Bonuses

Savings Account Offers

Which bank is best to open a savings account?
Here are some of the top savings accounts:

Business Checking Account Bonuses

High Interest Rates

Which bank has the highest interest rates?

CreditDonkey Survey Results

Would you open a new bank account for a $100 bonus?

78% Yes
22% No
Source: CreditDonkey poll, December 18, 2021 to December 19, 2021

How much do you save a month?

22% $0 - $100
24% $100 - $500
17% $500 - $1000
37% Over $1000
Source: CreditDonkey poll of 1,072 respondents, July 10, 2024

What are you saving money for?

12% Retirement
6% College
37% House
6% Vacation
2% Christmas
28% Car
8% Emergency Fund
Source: CreditDonkey poll of 10,931 respondents, July 18, 2024. Totals may not add to 100% due to rounding.

How do Bank Promotions Work?

Bank promotions are incentives for new customers to open a new checking or savings account. Typically, you'll have to make qualifying deposits and keep the account open for a certain amount of time to get the bonus.

Banks benefit by getting new customers. Because when you deposit money with them, they can earn profits by loaning out your cash. That's why banks will typically require some kind of deposit in order to earn a bonus.

You also benefit by getting free money for switching to a new bank. A win-win!

How Can I Qualify for a Bank Account Bonus?

Banks have criteria you must meet to earn an account bonus. To qualify, you usually need to deposit a certain amount of money (in either direct deposits or transfers) within a certain timeframe. You also must keep your account open for a few months or the bonus will be taken back.

Sometimes, the bank may also require that you complete some activities. This can range from making a certain number of debit card purchases, enrolling in mobile banking, or using online bill pay.

Depending on the bank promotion, they may have just one requirement or a combination of a few.

Also, to qualify, you need to be a new customer. Some banks are more strict and say that you cannot have ever received a bonus from them before. Some say that you just can't have closed an account or received a bonus in the past 1 or 2 years. This is to prevent people from opening and closing accounts just to get bonuses.

What's the Best Bank for Me?

The best bank for you depends on what you want out of a bank. Do you want convenience, low fees, or high interest? Here are the different types of banks and why you may pick each one.

  • National banks: best accessibility. These are the big traditional banks such as Bank of America, Wells Fargo, etc. These banks typically have physical locations and ATMs throughout the country. So you can get in-person help and do your banking no matter where you are. However, these banks usually offer very low interest and have fees and/or balance requirements.

  • Regional or community banks: best local service. Regional banks are usually limited to one geographical area, whether it be several states or a single city. They usually offer higher interest and less fees. But you may need to switch banks if you move.

  • Credit unions: best personalized service. These can be thought of mom-and-pop banks. The locations may be very limited (sometimes only one branch), but credit unions offer higher interest, competitive loan rates, and great personalized service.

  • Online banks: best interest rates. If you're comfortable with doing your banking completely on the web or via mobile app, online banks will offer the highest interest rates (in exchange for no physical locations). Many online banks have no account fees and no balance requirements.

Is a credit union better than a bank?
Credit unions generally offer higher interest rates, better loan rates, lower fees, and better personalized customer service than traditional banks. Credit unions are nonprofit, whereas banks are for-profit. Banks have more nationwide accessibility, but the interest rate is usually low and they charge more fees.

Bonus Promotions FAQs

What banks give instant bonuses for opening accounts?
Banks won't give instant bonuses just for opening a new account. They want you to use their account by depositing money, setting up direct deposit, or making purchases. After you complete the qualifying activities, you'll receive your bonus.

How are bank bonuses paid?
After you've met the requirements for the bonus, banks will deposit the cash into your account. Usually, it'll take several business days. The bonus offer should give a timeframe for when they will deposit the bonus.

Does a bank bonus count as income?
Yes, welcome cash bonuses for opening a bank account are considered income. You will get a 1099-INT from the bank and you'll need to report it as interest income on your taxes. It'll be taxed at your ordinary income tax rate.

Does switching banks hurt your credit?
No, switching banks will not hurt your credit. Opening a new bank account is only a soft pull, which doesn't impact your credit score. But, don't forget to switch over automated payments. If payments fail because they're still going to your old bank account, that will harm your credit.

Can you have 2 bank accounts?
There's no limit to how many bank accounts you can have legally. Many people find it helpful to have more than one bank account to stay organized (like a primary account and one for paying bills).

If you're in the market for a 2nd account, it's a great chance to take advantage of bank bonuses.

Methodology: How We Picked the Best Bank Bonuses

First, we picked larger banks that are offering at least $100 bonus. Most of the promotions on our list offer $200 or even more. We chose banks that serve a wide area, so they're available to more people.

We also picked offers that are available to apply for online, since that's more convenient for most people. And you can take advantage of the offer even if you don't live super close to a branch.

The requirements to earn the sign-up bonus offers must be reasonable and relatively easy to meet. There are also some larger bonuses targeted towards premium checking customers with higher criteria.

Finally, we picked bank accounts that we truly feel offer good features and benefits. So that even after you receive your bonus, you'll still find value in being a customer. Hopefully, the sign-up bonus is just an added perk over the long-term benefits.

What Experts Say

CreditDonkey assembled a panel of industry experts to answer readers' most pressing questions. Here's what they said:

Top Banks with Promotions

  • Chase: Only bank in the US with branches in all 48 contiguous states; over 4,700 branches and 15,000 ATMs; many checking options including free accounts for students and kids.
  • Bank of America: There are thousands of ATMs and financial centers; good customer service with extended hours.
  • Wells Fargo: Over 4,500 locations and 12,000 ATMs; many checking options including a second chance account for those who had financial troubles.
  • Ally Bank: Online bank with wide array of services, high interest rates, no fees, and great 24/7 customer service.
  • Discover® Bank: Online bank with high interest savings & CDs.
  • Capital One: Hybrid brick-and-mortar and online bank; all banking products have no monthly service fees or minimum opening deposits.
  • CIT Bank Bonus Offers: Online bank with one of the highest interest rates for online savings account.
  • PNC Bank: Unique Virtual Wallet feature and financial tools that help you reach your goals; account fee is easily waived.
  • TD Bank: Extended banking hours and 24/7 customer service; checking account fees waived with low account minimums.
  • Alliant Credit Union: A credit union with high interest rates, ATM fee rebates, and large network of over 80,000 fee-free ATMs. Anyone can join with simple qualifications.


Chase

Our Review: StarStarStarStarEmpty StarEmpty Star (3.6) Chase has new customer bonuses and a strong nationwide presence. But there are drawbacks. Read this review to see if Chase is a good bank for you... Read full review

Bank of America

Our Review: Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on... Read full review

Wells Fargo

Our Review: StarStarStarStarEmpty StarEmpty Star (3.9) Wells Fargo offers nationwide access with thousands of ATMs and branch locations. But are their checkings and savings accounts right for you? Read on to see the best options... Read full review

Citibank

Our Review: Citibank offers banking services and credit cards. But service fees and balance requirements are on the high side. Is it the right bank for you?... Read full review

Discover Bank

Our Review: StarStarStarStarStarEmpty Star (4.6) Discover® Bank offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account... Read full review

PNC Bank

Our Review: StarStarStarHalf StarEmpty Star (3.5) PNC Bank has relatively low requirements to waive fees and offers many financial tools to help you meet savings goals. Read on to see if this East Coast bank is right for you... Read full review

CIT Bank

Our Review: StarStarStarStarStarEmpty Star (4.4) CIT Bank offers a high interest rate. But how reliable is this online bank? Read this review to find out if what you heard is true... Read full review

Capital One

Our Review: StarStarStarStarStarEmpty Star (4.3) Capital One 360 checking and savings accounts are free to open and offer higher-than-average APY rates. Does this popular web bank live up to its claims? Find out if it's right for you... Read full review

Regions Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.4) Regions Bank offers a variety of deposit products, easy account opening requirements, and special reward programs. Read on to see if this bank is right for you... Read full review

Bluevine

Our Review: StarStarStarStarStarEmpty Star (4.4) Bluevine offers free business checking with a high interest rate. But what's the catch? Is it right for your business? Read on for the full review... Read full review

M&T Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.4) If you are on the upper East Coast, you probably see M&T Bank frequently. With a free checking option and a range of deposit accounts, does it meet your needs?... Read full review

TD Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.9) TD Bank offers extended customer hours and easy online banking. Are these perks worth it? Find out what makes TD Bank a great choice for you and some reasons to look elsewhere... Read full review

Citizens Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.8) Are you looking for a bank that will not only keep your money, but also help push you to meet your financial goals? If so, you may want to consider Citizens Bank... Read full review

Lili

Our Review: StarStarStarStarStarEmpty Star (4.4) Lili offers a free business checking account with tax planning and expense tracking tools. Review the features to find out if Lili is worth it... Read full review

Ally Bank

Our Review: StarStarStarStarStarEmpty Star (4.4) Ally Bank offers good interest rates and no account minimums. But is this popular online bank good for you? Learn the benefits (and drawbacks) here... Read full review

Associated Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.6) If you live in the Midwest, you've likely heard of Associated Bank. Its account offerings are basic with higher fees, but is it a good fit for you? Read on... Read full review

goHenry

Our Review: StarStarStarStarEmpty StarEmpty Star (3.8) GoHenry offers kids a debit card and fun money lessons. But is it worth the monthly fee? Find out the pros, cons, and whether it's safe for your child... Read full review

Relay

Our Review: StarStarStarStarStarEmpty Star (4.6) Relay Financial offers online banking services for businesses. Yes, it is free. But, is it the right platform for you? Find out... Read full review

Synchrony Bank

Our Review: StarStarStarStarStarEmpty Star (4.3) Synchrony offers some of the highest savings and CD rates. But there are downsides. Read this review before you open an account... Read full review

Greenlight

Our Review: StarStarStarStarEmpty Star (4.0) Looking to teach your kids or tweens how banks and debit cards really work? Greenlight may be for you. Learn the pros, cons, fees, and more in this review... Read full review

HSBC Bank

Our Review: HSBC Bank offers a global banking account ideal for those who live and work overseas. Is it right for your needs? Read on for the pros and cons... Read full review

Novo

Our Review: StarStarStarStarEmpty StarEmpty Star (3.3) Novo provides digital banking services for entrepreneurs and small businesses. Explore Novo's features, business perks, and fees in this review... Read full review

UFB Direct

Our Review: StarStarStarStarStarEmpty Star (4.3) UFB Direct offers high interest rates. But is it a safe choice? Find out in this review... Read full review

Axos Bank

Our Review: StarStarStarStarEmpty Star (4.0) Axos Bank offers full-service banking completely online with no fees. Find out below whether they can replace your traditional bank account... Read full review

Charles Schwab Bank

Our Review: StarStarStarStarStarEmpty Star (4.1) Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons... Read full review

First Citizens Bank

Our Review: StarStarStarEmpty StarEmpty StarEmpty Star (2.9) First Citizens Bank offers many account options with low opening deposits and fees. But there are downsides. Find out if First Citizens is a good bank for you... Read full review

Quontic

Our Review: StarStarStarStarStarEmpty Star (4.3) Quontic Bank aims to provide a better experience (and rewards) for those underserved by traditional banks. Review the rates, fees, and customer reviews... Read full review

Alliant Credit Union

Our Review: StarStarStarStarEmpty StarEmpty Star (3.8) Looking for a good checking account for teenagers? Find out if Alliant Teen Checking is safe and legit for your child... Read full review

American First Credit Union

Our Review: StarStarStarStarEmpty StarEmpty Star (3.9) American First Credit Union offers a solid lineup of savings accounts, along with high-yield options through Raisin. Read on for all the details... Read full review

Aspiration

Our Review: StarStarStarStarEmpty StarEmpty Star (3.3) Aspiration offers socially-responsible banking services and investment products with a unique "Pay What Is Fair" approach. Is it too good to be true? Read on... Read full review

Chime

Our Review: StarStarStarStarHalf Star (4.5) Chime has no monthly fees, so what's the catch with the app? Find out how you can get paid two days early and grow your savings... Read full review

CloudBank 24/7

Our Review: StarStarStarHalf StarEmpty Star (3.5) Want to boost your savings with a high-yield account from a digital bank? Check out CloudBank 24/7's impressive rate via Raisin... Read full review

Comerica Bank

Do you look for a wide range of account options at banks? Do you want a bank that offers free savings accounts with any checking account? Comerica Bank may provide what you need... Read full review

Current

Our Review: StarStarStarStarStarEmpty Star (4.4) Is Current a good fit for you? Discover its benefits and drawbacks, and see how it sizes up against apps like Chime in this review... Read full review

Customers Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.4) Customers Bank boasts several interest-earning accounts with good APYs. Read on for all the details... Read full review

Digital Federal Credit Union

Our Review: StarStarStarStarStarEmpty Star (4.3) DCU's Credit Builder Loan aims to give your credit a boost in just 12 to 24 months. But does this member-only service deliver? Read on to find out... Read full review

Dollar Bank

What do you look for in a bank? If it's more than the interest rates you earn and more about the service you receive, you might want to put Dollar Bank on your radar... Read full review

Dollar Savings Direct

Our Review: StarStarStarStarEmpty Star (4.0) Dollar Savings Direct offers two banking products with competitive APYs. Keep reading to know the numbers and how it compares to other banks... Read full review

DR Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.8) DR Bank offers a range of banking options with no fees or minimums. Plus, you can open a high-yield account through Raisin. Read on for more details... Read full review

Empower Finance

Our Review: StarStarStarEmpty StarEmpty Star (3.0) Find out how Empower, a new innovative banking platform, uses AI to help you better manage your finances and savings, and more... Read full review

FirstBank

What do you look for in a bank account? Do you prefer simple, no-frills accounts or do you need all of the bells and whistles? If simple bank accounts are your cup of tea, you may find that FirstBank has just what you need... Read full review

FitnessBank

Our Review: StarStarStarStarEmpty Star (4.0) Did you know you can earn money while staying fit? FitnessBank accounts reward steps with a good APY. Read on for more details... Read full review

Flagstar Bank

You might know Flagstar Bank as a mortgage lender, but they pack quite a punch when it comes to the banking side of things. If you live in Michigan, you may want to check out what Flagstar Bank has to offer... Read full review

Found

Our Review: StarStarStarStarStarEmpty Star (4.3) Found Business Banking offers helpful tax and invoicing tools for self-employed people. But it lacks other basic features. Here's what you need to know... Read full review

Frost Bank

Is local customer service important to you when you bank? Do you live in Texas? If so, you may want to put Frost Bank on your list of possible banks. As one of the larger banks in Texas, Frost Bank offers "human" customer service and personal touches that you won't see anywhere else... Read full review

FVCbank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.3) On the hunt for a savings account with a solid APY? FVCbank offers a high-yield savings option through Raisin. Keep reading for all the details... Read full review

GO2bank

Our Review: StarStarStarStarEmpty Star (4.0) Get the real deal about GO2bank. Is it legit? Find out in this in-depth review... Read full review

Ivy Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.6) Ivy Bank offers an impressive, guaranteed rate on their high-yield savings account. Read on for all the must-know details... Read full review

LendingClub Bank

Our Review: StarStarStarStarStarEmpty Star (4.1) Need a modern bank to help boost your funds? LendingClub's High-Yield Savings account might be for you. Learn more here... Read full review

Marcus by Goldman Sachs

Marcus by Goldman Sachs offers savings accounts and CDs at high interest rates. But don't expect accounts with a lot of bells and whistles. Read on for the pros and cons... Read full review

Navy Federal Credit Union

Our Review: StarStarStarHalf StarEmpty Star (3.5) Navy Federal Credit Union provides various financial products. But do they have a high-yield savings account? Find out here... Read full review

North One

Our Review: StarStarStarStarStarEmpty Star (4.3) North One is a banking platform for small businesses. But is it right for you? Find out the unique features it offers and how it compares... Read full review

Ponce Bank

Our Review: StarStarStarStarStarEmpty Star (4.4) Explore Ponce Bank's savings accounts with decent rates, along with high-yield options through Raisin. Keep reading to find out more... Read full review

Raisin (formerly SaveBetter)

Our Review: StarStarStarStarStarEmpty Star (4.1) Unravel the truth about Raisin's safety and legitimacy in this review... Read full review

RBMAX

Our Review: StarStarStarStarEmpty Star (4.0) RBMAX offers a high-yield savings account with a great APY and a simple checking account for easy access to your money. Read on to find out more... Read full review

Santander Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.8) If you're in the Northeast, Santander Bank offers solid basic checking and savings options, as well as competitive rates for CDs. Read on to see if it fits your needs... Read full review

SoFi

Our Review: StarStarStarStarEmpty StarEmpty Star (3.8) SoFi offers unsecured personal loans if you need to borrow money ASAP. But is it legit (or not)? Learn how SoFi personal loans actually work... Read full review

Till

Our Review: StarStarStarStarEmpty StarEmpty Star (3.9) Is Till Financial legit and safe for kids? Find out how a Till debit card compares to competitors like Greenlight and GoHenry... Read full review

Upgrade

Our Review: StarStarStarStarHalf Star (4.5) Upgrade Premier Savings gives a really high APY for savings. But what do you need to get it? Read on to learn how to earn their highest APY... Read full review

USAA Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.4) USAA Bank boasts a savings account with an adequate rate and no fees. But you may not be eligible to get it. Read on to find out... Read full review

VyStar Credit Union

Our Review: StarStarStarStarEmpty StarEmpty Star (3.3) VyStar Credit Union offers banking products with little to no fees. But, what's the catch? Read for all the details... Read full review

Webster Bank

Webster Bank offers bank accounts for those just starting out as well as those looking for a "premier" bank account. Do their services live up to your needs? Keep reading to find out... Read full review

Western Alliance Bank

Our Review: StarStarStarStarStarEmpty Star (4.1) Western Alliance Bank offers savings products with competitive APYs for people looking to grow their money. Is there a catch? Read on to find out... Read full review

US Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.7) Weighing up on banking with U.S. Bank? This comprehensive review covers its pros, cons and how it stacks up against other banks... Read full review

Fifth Third Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.3) Fifth Third Bank has higher balance requirements and high service fees if they're not met. But it offers some unique programs. Read on to see if Fifth Third Bank is a good fit for you... Read full review

BMO Bank

Our Review: StarStarStarHalf StarEmpty Star (3.5) BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on... Read full review

Huntington Bank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.9) Huntington Bank provides great accounts benefits like free Overdraft Protection Transfers. Read on to see if this bank is right for you... Read full review

KeyBank

Our Review: StarStarStarStarEmpty StarEmpty Star (3.3) Are you looking for a no-frills checking account or maybe a bank that offers relationship banking services/interest rates? You may have found your fit with KeyBank... Read full review

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About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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