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Bank Promotions for August 2020

View list of bank promo codes and bonus offers for new accounts. These banks now offer incentives and cash bonuses.

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.

Here are bank account bonuses for new accounts:

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 Promotions: August 2020

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.

Checking Account Bonuses

    HSBC

    HSBC Advance Checking - Up to $240 Cash Bonus

    Expires 9/30/2020
    • Get up to $240 with a 3% Cash Bonus Checking Offer when you open a new HSBC Advance checking account and complete the following qualifying activities.
    • Open your new HSBC Advance checking account online by September 30, 2020; and
    • Set up Qualifying Direct Deposits into your new HSBC Advance checking account; and then
    • Enjoy 3% Cash Bonus, up to $240, on Qualifying Direct Deposits up to $40 per month, during the first 6 calendar months after account opening
    • You will automatically receive the 3% Cash Bonus in your new HSBC Advance checking account approximately eight weeks after completing that month's qualifying activities.
    • Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
    HSBC

    HSBC Advance Checking - $200 Welcome Deposit

    Expires 9/30/2020
    • Get a $200 Welcome Deposit for eligible new customers who open a new HSBC Advance checking account and complete the following qualifying activities.
    • Open your new HSBC Advance checking account online by September 30, 2020; and
    • Make recurring monthly Qualifying Direct Deposits totaling at least $500 from a third party to your HSBC Advance checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening
    • You will automatically receive the $200 Welcome Deposit in your new HSBC Advance checking account approximately eight weeks after completing all qualifying activities. It's that simple.
    • Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

    HSBC

    HSBC Premier Checking - Up to $600 Cash Bonus

    Expires 9/30/2020
    • Get up to $600 with a 3% Cash Bonus Checking Offer when you open a new HSBC Premier checking account and complete the following qualifying activities.
    • Open your new HSBC Premier checking account online by September 30, 2020; and
    • Set up Qualifying Direct Deposits into your new HSBC Premier checking account; and then
    • Enjoy 3% Cash Bonus, up to $600, on Qualifying Direct Deposits up to $100 per month, during the first 6 calendar months after account opening
    • You will automatically receive the 3% Cash Bonus in your new HSBC Premier checking account approximately eight weeks after completing that month's qualifying activities.
    • Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
    HSBC

    HSBC Premier Checking - $450 Welcome Deposit

    Expires 9/30/2020
    • Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.
    • Open your new HSBC Premier checking account online by September 30, 2020; and
    • Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
    • You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple.
    • Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
    Chase

    Chase Total Checking®

    • Enjoy a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit
    • Access to 16,000 Chase ATMs and nearly 4,900 branches
    • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
    • Open your account online now.
    • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
    Chase

    Chase Premier Plus Checking℠

    • Enjoy $300 as a new Chase checking customer, when you open a Chase Premier Plus Checking℠ account and set up direct deposit.
    • Enjoy $300, more benefits, and earn interest on your new Chase checking account.
    • The $25 Monthly Service Fee is waived when you keep an average beginning day balance of $15,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.
    • No Chase fee on first four non-Chase ATM transactions per statement period.
    • Earn interest on your checking account balance.
    • Access to 16,000 Chase ATMs and nearly 4,900 branches
    • Open your account online now.
    • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
    Chase

    Chase Total Business Checking®

    • Get $300 as a new Chase business checking customer, when you open a Chase Total Business Checking® account with qualifying activities
    • Access to 16,000 ATMs and nearly 4,900 Chase branches
    • Chase has business specialists at your local branch to help with your business needs
    • Account Alerts are a great way to stay on top of your account's activity and enhance security
    • Unlimited electronic deposits at no charge, including Chase QuickDeposit℠, ACH and ATM
    BBVA

    Online Checking - $200 Bonus

    You could get a $200 bonus by opening an Online Checking account and receiving a qualifying direct deposit of $500+ by October 31, 2020. Increase your bonus to $250 by adding an Online Savings account and having a savings balance of at least $1000 on October 31, 2020.

    Expires in 6 days
    BBVA

    Checking and Savings Account - $250 Bonus

    You could get a $200 bonus by opening an Online Checking account and receiving a qualifying direct deposit of $500+ by October 31, 2020. Increase your bonus to $250 by adding an Online Savings account and having a savings balance of at least $1000 on October 31, 2020.

    Expires in 6 days
    TD Bank

    TD Beyond Checking

    • New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
    • Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days
    • Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Rush Bill Payments and more.
    • Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts.
    • TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
    • Overdraft Payback - Get overdraft fees automatically reversed up to two times a year.
    • Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle.
    • TD checking accounts come with an instant-issue debit card. And, you can pay with confidence with Zero Liability protection and 24/7 fraud monitoring.
    • Monthly maintenance fee waived on one TD Simple CheckingSM account and any Savings and Money Market accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments.
    TD Bank

    TD Convenience Checking℠

    • New customers who apply online for a TD Convenience Checking℠ account can earn a $150 cash bonus after receiving direct deposits of $500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
    • Earn $150 when you receive direct deposits totaling $500 or more within 60 days
    • Low minimimum daily balance of $100 waives the $15 monthly fee.
    • Students and young adults ages 17 through 23 get additional perks like no minimum balance requirements and no monthly maintenance fee.
    • Instantly replace a lost or worn debit card by visiting a TD Bank location near you
    • Access accounts via Online Banking with Bill Pay, Online Statements and TD Bank Mobile Deposit, with 24/7 cash access at TD ATMs in the U.S. and Canada – plus 24/7 Live Customer Service
    • Get a 0.25% discount on TD Bank Home Equity and Personal Loans

What bank has free checking? These banks offer checking accounts with no opening fees and no monthly service fees.

High Yield Savings

    CIT Bank

    CIT Savings Builder - Earn 0.75% APY

    Earn up to 0.75% APY. Here's how it works: Maintain a minimum balance of $25k OR make at least a $100 minimum deposit every month. Member FDIC

    Betterment

    Betterment Cash Reserve - Earn up to 0.40% APY

    • FDIC insurance covering up to $1,000,000 at program banks
    • Access cash in 1-2 business days
    • No minimum balance
    • No fees on balance
    • Unlimited withdrawals
    Chase

    Chase Savings℠

    • Enjoy a $150 bonus when you open a new Chase Savings℠ account, deposit a total of $10,000 or more in new money within 20 business days, and maintain a $10,000 balance for 90 days
    • Access to 16,000 Chase ATMs and nearly 4,900 branches
    • Link this account to your Chase checking account for Overdraft Protection.
    • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
    • Open your account online now.
    • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.

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

Business Bank Account Bonuses

    Chase

    Chase Total Business Checking®

    • Get $300 as a new Chase business checking customer, when you open a Chase Total Business Checking® account with qualifying activities
    • Access to 16,000 ATMs and nearly 4,900 Chase branches
    • Chase has business specialists at your local branch to help with your business needs
    • Account Alerts are a great way to stay on top of your account's activity and enhance security
    • Unlimited electronic deposits at no charge, including Chase QuickDeposit℠, ACH and ATM

    Huntington

    Business Checking Account - $400 Bonus

    Open a new Huntington Unlimited Business Checking, Unlimited Plus Business Checking, Business Analyzed Checking, Non-Profit Analyzed Checking, or Non-Profit Interest Checking account. Make a minimum cumulative new money deposit into the new checking account of at least $5,000 within 60 days of account opening. Account must maintain an open status for at least 90 days to be eligible. This offer is only available to applicants residing in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, or West Virginia. Not available in Wisconsin.

    Expires 10/7/2020

    SunTrust Bank: SunTrust Business Checking Account - $200 Bonus

    Earn $200 when you open a new eligible SunTrust business checking account using offer code SB20Q3CHECKING and receive at least $1,500 in qualifying cumulative deposits within 30 days of account opening. Account must stay open for at least 180 days. The accounts eligible for this promotion are Simple Business Checking, Primary Business Checking, and Business Advantage Plus. The business must be registered within the U.S. with the business's physical street address located in AL, AR, GA, FL, MD, MS, NC, SC, TN, VA, and DC.

    Expires 9/30/2020

High Interest Rates

What Experts Say

CreditDonkey assembled a panel of industry experts to answer readers' most pressing questions:

  • What should people look for when choosing a bank?
  • Should people look past a bank's promotions when they are considering opening an account?
  • What advice do you have for someone who is looking to open their first bank account?

Here's what they said:

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.

Top Banks with Promotions

  • Bank of America: Over 5,000 locations and 16,000 ATMs; good customer service with extended hours.
  • Wells Fargo: Widespread accessibility with over 5,800 locations and 13,000 ATMs; many checking options including Opportunity Checking 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 cashback checking and high interest savings & CDs.
  • Capital One: Web bank with in-person support; all banking products have no monthly service fees or minimum opening deposits.
  • CIT Bank: 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.
  • Simple Bank: Millennial-focused banking and budgeting; offers high interest savings and a unique Safe-to-Spend feature; no monthly fee and no minimums.

What bank has the best checking account?


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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.