Best Bank Account Bonuses 4x3

Best Bank Account Bonuses 4x3



Alyssa Powell/Business Insider


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Choosing a bank is a big decision.

So many bank accounts come with similar interest rates, minimum opening deposits, ATM fees, and monthly charges. When they start to look interchangeable, a cash bonus can be the tipping point.

Below, we’ve listed the best bank account bonuses for June 2020. The best promotions are for regional and national banks, and many companies offer hefty bonuses if you follow a few guidelines.

Many checking accounts have cash promotions worth noticing right now. The following checking account bonuses are listed from largest to smallest.

Read more about each account below:

Intro Bonus

$475 if you make $5,000 in direct deposits within first 3 months

  • Details
  • Pros & Cons

    • Earn $475 bonus if you’re a new customer who sets up $5,000 in direct deposits within 3 months of opening an account, starting from the second complete calendar month after opening the account
    • Waive the $50 monthly maintenance fee if you have $75,000 total in all your HSBC bank/investment accounts, OR $5,000 per month in direct deposits, OR take out an HSBC mortgage of at least $500,000
    • No ATM or foreign transaction fees
    Pros
    • Unlimited out-of-network ATM fee reimbursements
    • No foreign transaction fees
    • Access to a Premier Savings Account
    • Preferential mortgage rates for Premier customers
    • $1 opening deposit, and $5 to earn interest
    Cons
    • $50 monthly maintenance fee if you don’t meet qualifications for waiving the fee
    • Low APY
    • Mobile app has poor reviews

    Bonus amount: $475

    Expiration date: June 29, 2020

    Who qualifies: You don’t qualify for this bonus if you’ve had an HSBC bank account or investment account since March 29, 2017.

    What you need to do:  

    When you’ll receive the money: You’ll get the $475 within eight weeks of completing the three-month qualification period.

    Intro Bonus

    $400 for new customers who receive at least $4,000 in direct deposits in first 90 days

  • Details
  • Pros & Cons

    • Enjoy $400 bonus when you set up a Wells Fargo Everyday Checking Account and receive at least $4,000 in direct deposits in the first 90 days
    • Enjoy access to over 13,000 ATMs and 8,000 branches
    • Waive $10 monthly fee when you have 10 debit card transactions per month, OR $500 in direct deposits per month, OR maintain minimum balance of $1,500, OR link account to a Wells Fargo Campus ATM or Campus Debit Card OR are 17-24 years old
    Pros
    • Relatively easy to waive monthly fee
    • Over 13,000 ATMs and 8,000 branches
    Cons
    • $10 monthly service fee
    • No interest earned
    • $25 opening deposit
    • $35 overdraft fee
    • $2.50 out-of-network ATM fee

    Bonus amount: $400

    Expiration date: July 31, 2020

    Who qualifies: You qualify for this bonus if you don’t already have a Wells Fargo checking account, and you cannot have received a Wells Fargo bonus within the last 12 months. 

    What you need to do:

    When you’ll receive the money: You’ll receive the $400 within 30 days of completing your requirements.

    Intro Bonus

    $400 when you make $3,000 in direct deposits per month for 2 consecutive months within 3 months of opening account

  • Details
  • Pros & Cons

    • Earn $400 bonus when you’re a new SunTrust checking customer who makes $3,000 in monthly direct deposits for 2 consecutive months within first 3 months of opening account
    • Waive $20 monthly maintenance fee when you make $3,000 in direct deposits per month, OR keep minimum balance of $10,000 in all SunTrust accounts, OR have a linked SunTrust Small Business Checking Account, Lending Account, or Credit Card
    • Access to 2,000 ATMs and 1,200 branches
    Pros
    • Access to 2,000 ATMs and 1,200 branches
    • 3 free out-of-network ATM transactions per month
    • Mobile bill pay
    Cons
    • $20 monthly service fee
    • $100 opening deposit
    • $3 out-of-network ATM fee
    • $36 overdraft fee
    • $12.50 transfer fee when you transfer funds from a linked account with overdraft protection

    Bonus amount: $400

    Expiration date: June 30, 2020

    Who qualifies: New SunTrust checking customers are eligible. You must not have closed a SunTrust checking account since October 4, 2019.

    What you need to do:

    • Open a SunTrust Advantage Checking Account by June 30, 2020, using the code Q220ADVANTAGE
    • Make $3,000 in direct deposits per month for two consecutive months within the first 3 months

    When you’ll receive the money: You’ll get the $400 within eight weeks of completing your three-month qualification period.

    APY

    0.01% effective as of 03/20/2020

    Intro Bonus

    $300 when you open a new Chase Premier Plus Checking℠ account and set up direct deposit

  • Details
  • Pros & Cons

    • 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.
    Pros
    • No required opening deposit
    • Almost 4,900 branches
    • Four waived out-of-network fees per month
    Cons
    • $25 monthly fee unless you have $15,000 or a Chase mortgage
    • $2.50 fee for out-of-network ATMs
    • No out-of-network ATM fee reimbursements
    • 3% foreign transaction fee
    • $34 overdraft and non-sufficient funds fees

    Bonus amount: $300

    Expiration date: July 20, 2020

    Who qualifies: You must not have had a Chase checking account or fiduciary account within the last 90 days, or have closed one with a negative balance. You can also only receive one new checking account bonus every two years.

    What you need to do:

    • Open a Chase Premier Plus Checking℠ account by July 20, 2020
    • Make a direct deposit within 90 days of opening the account
    • Keep the account open for six months, or the $300 will be deducted from your account at closing

    When you’ll receive the money: You’ll get $300 within 10 business days of making your direct deposit.

    APY

    Spend: 0% – 0.01%; Reserve: 0.01%; Growth: 0.01% – 0.50%

    Intro Bonus

    $300 when you receive $5,000 in direct deposits in first 60 days

  • Details
  • Pros & Cons

    • 1 Virtual Wallet is actually 3 accounts: Spend (checking), Reserve (interest checking), and Growth (savings)
    • Earn $300 bonus when you receive $5,000 in direct deposits in the first 60 days
    • Waive the $25 monthly fee if you have $5,000 in monthly direct deposits to Spend, OR maintain average of $5,000 in Spend and Reserve (including linked checking accounts), OR have average of $25,000 monthly balance in all PNC bank/investment accounts
    • 2,400 branch locations and 15,000 ATMs
    Pros
    • Access to Spend (checking account), Reserve (interest checking account), and Growth (savings account)
    • Reimburses up to $5/month in out-of-network ATM fees charged by providers
    • Reserve and Growth funds can act as overdraft protection for the Spend account
    Cons
    • $25 opening deposit
    • $25 monthly service fee
    • No interest earned on Spend balances under $2,000
    • Low APY
    • $3 out-of-network ATM fee

    Bonus amount: $300

    Expiration date: June 30, 2020

    Who qualifies: You qualify if you haven’t had a PNC bank account within the last 90 days and haven’t received a PNC bonus in the last 12 months.

    What you need to do:

    When you’ll receive the money: The $300 will be deposited into your account within 60 to 90 days after you’ve met all the qualifications.

    Intro Bonus

    $225 when you deposit $500 over the first 3 months

  • Details
  • Pros & Cons

    • Earn $225 bonus if you’re a new customer and set up $500 total in direct deposits in the first three months, starting in the second complete calendar month after opening the account
    • Waive the $25 monthly maintenance fee if you set up recurring monthly direct deposits, OR have a total of $5,000 in all HSBC bank and investment accounts, OR have an HSBC mortgage
    • Open an account with $1
    Pros
    • 4 out-of-network ATM reimbursements per month
    • Free paper checks
    • $1 opening deposit, $5 to earn interest
    Cons
    • $25 monthly maintenance fee
    • Low APY
    • Mobile app has poor reviews

    Bonus amount: $225

    Expiration date: June 29, 2020

    Who qualifies: You don’t qualify for this bonus if you’ve had an HSBC bank account or investment account since March 29, 2017.

    What you need to do:  

    When you’ll receive the money: You’ll get the $225 within eight weeks of completing the three-month qualification period.

    APY

    Spend: 0% – 0.01%; Reserve: 0.01%; Growth: 0.01% – 0.10%

    Intro Bonus

    $200 when you receive $2,000 in direct deposits in first 60 days

  • Details
  • Pros & Cons

    • 1 Virtual Wallet is actually 3 accounts: Spend (checking), Reserve (interest checking), and Growth (savings)
    • Earn $200 bonus when you receive $2,000 in direct deposits in the first 60 days
    • Waive the $25 monthly fee if you have $2,000 in monthly direct deposits to Spend, OR maintain average of $2,000 in Spend and Reserve, OR have average of $10,000 monthly balance in all PNC bank accounts
    • 2,400 branch locations and 15,000 ATMs
    Pros
    • Access to Spend (checking account), Reserve (interest checking account), and Growth (savings account)
    • Reimburses up to $5/month in out-of-network ATM fees charged by providers
    • Reserve and Growth funds can act as overdraft protection for the Spend account
    Cons
    • $25 opening deposit
    • $15 monthly service fee
    • No interest earned on Spend balances under $2,000
    • Low APY
    • $3 out-of-network ATM fee

    Bonus amount: $200

    Expiration date: June 30, 2020

    Who qualifies: You qualify if you haven’t had a PNC bank account within the last 90 days and haven’t received a PNC bonus in the last 12 months.

    What you need to do:

    When you’ll receive the money: The $200 will be deposited into your account within 60 to 90 days after you’ve met all the qualifications.

    Intro Bonus

    $300 when you receive $2,500 in direct deposits in first 60 days

  • Details
  • Pros & Cons

    • Access to 1,301 branch locations and over 2,800 ATMs
    • Waive $25 monthly fee with $5,000 in monthly direct deposits, OR $2,500 minimum balance, OR total of $25,000 in all TD Bank accounts
    • Earn $300 when you receive $2,500 in direct deposits within 60 days of opening the account
    • No opening deposit or minimum account balance
    Pros
    • No opening deposit
    • 2 overdraft fee reimbursements per year
    • Waive other TD Bank account monthly fees when you have a Beyond Checking Account
    • No out-of-network ATM fees
    • Reimburses out-of-network ATM fees charged by providers when your balance is at least $2,500
    Cons
    • $25 monthly service fee
    • $35 overdraft fee

    Bonus amount: $300

    Expiration date: Ongoing

    Who qualifies: You must be a new TD Bank checking customer, and your account must still be in good standing when it’s time to receive the bonus.

    What you need to do:

    When you’ll receive the money: You’ll get the $300 within 95 days of opening the account.

    Intro Bonus

    $200 when you make $500 in direct deposits per month for 2 consecutive months within 3 months of opening account

  • Details
  • Pros & Cons

    • Earn $200 bonus when you’re a new SunTrust checking customer who makes $500 in monthly direct deposits for 2 consecutive months within first 3 months of opening account
    • Waive $7 monthly maintenance fee when you make 10 transactions per month, OR make $500 in direct deposits per month, OR keep minimum balance of $500, OR open as a student and earn 5 years of waived maintenance fees
    • Access to 2,000 ATMs and 1,200 branches
    Pros
    • Access to 2,000 ATMs and 1,200 branches
    • Connect to Zelle for digital payments
    • Mobile bill pay
    • Mobile check deposit
    • Relatively easy to waive monthly fee
    Cons
    • $7 monthly service fee
    • $100 opening deposit
    • No interest earned
    • $36 overdraft fee
    • $12.50 transfer fee when you transfer funds from a linked account with overdraft protection
    • $3 out-of-network ATM fee

    Bonus amount: $200

    Expiration date: June 30, 2020

    Who qualifies: New SunTrust checking customers are eligible. You must not have closed a SunTrust checking account since October 4, 2019.

    What you need to do: 

    • Open a SunTrust Essential Checking Account by June 30, 2020, using the code Q220ESSENTIAL
    • Make $500 in direct deposits per month for two consecutive months within the first 3 months

    When you’ll receive the money: You’ll get the $200 within eight weeks of completing your three-month qualification period.

    Intro Bonus

    $200 bonus when you open a new Chase Total Checking® account and set up direct deposit

  • Details
  • Pros & Cons

    • 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.
    Pros
    • No required opening deposit
    • Almost 4,900 branches
    Cons
    • $12 monthly fee unless you meet direct deposit or minimum balance requirements
    • $2.50 fee for out-of-network ATMs
    • No out-of-network ATM fee reimbursements
    • 3% foreign transaction fee
    • $34 overdraft and non-sufficient funds fees

    Bonus amount: $200

    Expiration date: July 20, 2020

    Who qualifies: You must not have had a Chase checking account or fiduciary account within the last 90 days, or have closed one with a negative balance. You can also only receive one new checking account bonus every two years.

    What you need to do:

    • Open a Chase Total Checking® account by July 20, 2020
    • Make a direct deposit within 90 days of opening the account
    • Keep the account open for six months, or the $300 will be deducted from your account at closing

    When you’ll receive the money: You’ll get $300 within 10 business days of making your direct deposit.

    Intro Bonus

    $200 when you deposit $5,000 in the first 30 days and maintain $5,000 balance for the first 60 days

  • Details
  • Pros & Cons

    • 700 US branches, 1,800 overseas branches, and 65,000 ATMs
    • Earn $200 bonus when you deposit $5,000 in the first 30 days and maintain $5,000 balance for the first 60 days
    • Waive $12 monthly fee when you make one direct deposit AND one bill payment per month, OR maintain average monthly balance of $1,500 in linked accounts
    Pros
    • No opening deposit
    • Unlimited check writing
    • Special benefits for those age 62 or older
    Cons
    • $12 monthly service fee
    • No interest earned
    • $2.50 out-of-network ATM fee

    Bonus amount: $200

    Expiration date: June 30, 2020

    Who qualifies: New Citibank customers who have not had a Citibank account in the last 180 days.

    What you need to do:

    • Open an eligible checking account in the Basic Banking Package by June 30, 2020
    • Deposit $5,000 in new funds into your account within the first 30 days
    • Maintain a minimum balance of $5,000 for at least 60 days

    When you’ll receive the money: You’ll receive $200 within 90 days after your 60-day qualifying period ends.

    Intro Bonus

    $200 when you deposit $1,000 in the first 60 days

  • Details
  • Pros & Cons

    • Receive $200 bonus when you open a new Huntington 5 Checking Account by July 7, 2020, deposit $1,000 in the first 60 days, and keep your account open for at least 90 days
    • Access to over 800 branches and 1,400 ATMs
    • $5 monthly maintenance fee, or $0 when you have $5,000 total in all your Huntington accounts
    • No opening deposit or minimum account balance
    • Earn up to 1.05% cash back on your linked Voice Credit Card® with Rewards
    • Available to residents of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia
    Pros
    • Earn interest on your money
    • Earn a higher rate on your Huntington savings or money market account when you have a Huntington 5 Checking Account
    • No opening deposit
    • Earn up to 1.05% cash back with a linked Voice Credit Card® with Rewards
    • Waives/reimburses up to 5 out-of-network ATM fees per month
    • Monitor your credit score
    • Open a Premier Savings account with no opening deposit or monthly fee when you have a checking account
    • 24-hour grace period to avoid overdraft fees
    • Enroll in free overdraft protection
    • Online bill pay
    • Email and text alerts about your account
    • Easy-to-use mobile app
    Cons
    • $5 monthly fee if you don’t qualify to have it waived
    • $3 out-of-network ATM fee
    • $37.50 overdraft fee

    Bonus amount: $200

    Expiration date: July 7, 2020

    Who qualifies: You must be a new Huntington checking customer who hasn’t closed a Huntington checking account in the last 60 days.

    What you need to do:

    When you’ll receive the money: You’ll get $200 within 14 days of your 90-day qualification period ending.

    Intro Bonus

    $150 when you receive $500 in direct deposits in first 60 days

  • Details
  • Pros & Cons

    • Access to 1,301 branch locations and over 2,800 ATMs
    • Waive $15 monthly fee with $100 daily balance
    • Earn $150 when you receive $500 in direct deposits within 60 days of opening the account
    • No opening deposit
    Pros
    • No monthly service fee if you’re ages 17 to 23
    • No opening deposit
    • No out-of-network ATM fees
    Cons
    • $15 monthly service fee
    • No interest earned
    • Doesn’t reimburse out-of-network ATM fees charged by providers
    • $35 overdraft fee

    Bonus amount: $150

    Expiration date: Ongoing

    Who qualifies: You must be a new TD Bank checking customer, and your account must still be in good standing when it’s time to receive the bonus.

    What you need to do:

    When you’ll receive the money: You’ll receive the $150 within 95 days of opening the account.

    Intro Bonus

    $150 when you deposit $1,000 in the first 60 days

  • Details
  • Pros & Cons

    • Receive $150 bonus when you open a new Asterisk-Free Checking Account by July 7, 2020, deposit $1,000 in the first 60 days, and keep your account open for at least 90 days
    • Access to over 800 branches and 1,400 ATMs
    • No monthly maintenance fee
    • No opening deposit or minimum account balance
    • Available to residents of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia
    Pros
    • No monthly service fee
    • No opening deposit
    • Open a Premier Savings account with no opening deposit or monthly fee when you have a checking account
    • 24-hour grace period to avoid overdraft fees
    • Enroll in free overdraft protection
    • Online bill pay
    • Email and text alerts about your account
    • Easy-to-use mobile app
    Cons
    • No interest earned
    • $3 out-of-network ATM fee
    • No out-of-network ATM fee reimbursements
    • $37.50 overdraft fee

    Bonus amount: $150

    Expiration date: July 7, 2020

    Who qualifies: You must be a new Huntington checking customer who hasn’t closed a Huntington checking account in the last 60 days.

    What you need to do:

    When you’ll receive the money: You’ll get $150 within 14 days of your 90-day qualification period ending.

    Intro Bonus

    $100 when you set up direct deposits of at least $200

  • Details
  • Pros & Cons

    • Earn $100 when you open a new account and set up direct deposits of at least $200
    • No way to waive $5 monthly service fee
    • 90 branches and ATMs
    Pros
    • Multiple overdraft protection options
    • No fee for the first 2 overdrafts
    • No out-of-network ATM fees
    • Free paper checks
    Cons
    • $5 monthly service fee
    • $25 opening deposit
    • Doesn’t reimburse out-of-network ATM fees charged by providers
    • $36 overdraft fee if you don’t enroll in protection

    Bonus amount: $100

    Expiration date: Ongoing

    Who qualifies: You can’t receive this bonus if you aren’t a new City National Bank checking customer, if you have a fiduciary account with City National Bank, or you have closed one of these accounts previously. This promotion is available in Virginia, West Virginia, Ohio, and Kentucky.

    What you need to do:

    • Open a City Gold Checking, Estatement Checking, or Community Hero Checking Account
    • Set up recurring direct deposits of at least $200

    When you’ll receive the money: You’ll see the bonus hit your account 91 days after opening it.

    Intro Bonus

    $100 when you receive 2 recurring direct deposits of $250 within first 90 days

  • Details
  • Pros & Cons

    • Access to 4,600 branch locations and 16,000 ATMs
    • $100 bonus when you receive 2 recurring direct deposits of $250 within first 90 days
    • Waive $4.95 monthly fee as a student under age 24, OR as a Preferred Rewards client
    Pros
    • No overdraft fees
    • 4,600 branch locations and 16,000 ATMs
    Cons
    • $25 opening deposit
    • $4.95 monthly fee
    • $2.50 out-of-network ATM fee
    • Doesn’t reimburse out-of-network ATM fees charged by providers
    • No paper checks
    • No interest earned

    Bonus amount: $100

    Expiration date: June 30, 2020

    Who qualifies: You’re eligible as long as you haven’t had a Bank of America checking account in the last 6 months.

    What you need to do: 

    • Open a Bank of America Advantage SafeBalance, Plus, or Relationship Banking Checking Account through the bank’s promotional page by June 30
    • Receive at least two recurring direct deposits of at least $250 within 90 days of opening the account

    When you’ll receive the money: You’ll get the $100 within 60 days of finishing the requirements.

    APY

    Spend: None; Reserve: 0.01% APY; Growth: 0.01% – 0.05% APY

    Intro Bonus

    $50 when you receive $500 in direct deposits in first 60 days

  • Details
  • Pros & Cons

    • 1 Virtual Wallet is actually 3 accounts: Spend (checking), Reserve (interest checking), and Growth (savings)
    • Earn $50 bonus when you receive $500 in direct deposits in the first 60 days
    • Waive the $7 monthly fee if you have $500 in monthly direct deposits to Spend, OR maintain average of $500 in Spend and Reserve, OR are age 62 or over
    • Earn higher APY on Reserve balance of at least $2,500
    • 2,400 branch locations and 15,000 ATMs
    Pros
    • Access to Spend (checking account), Reserve (interest checking account), and Growth (savings account)
    • Reimburses up to $5/month in out-of-network ATM fees charged by providers
    • Reserve and Growth funds can act as overdraft protection for the Spend account
    Cons
    • $25 opening deposit
    • $7 monthly service fee
    • Spend balance does not earn interest
    • Low rates for Reserve and Growth balances
    • $3 out-of-network ATM fee

    Bonus amount: $50

    Expiration date: June 30, 2020

    Who qualifies: You qualify if you haven’t had a PNC bank account within the last 90 days and haven’t received a PNC bonus in the last 12 months.

    What you need to do:

    • Open a PNC Virtual Wallet account by June 30
    • Receive $500 in direct deposits within the first 60 days

    When you’ll receive the money: The $50 will be deposited into your account within 60 to 90 days after you’ve met all the qualifications.

    Currently, there’s one standout for the best savings account bonus:

    Intro Bonus

    $100-$500 when you open a new Capital One 360 Performance Savings Account; earn $100 per $10,000 you put toward an opening deposit, up to $500

    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Details
  • Pros & Cons

    • No opening deposit or minimum account balance
    • No monthly maintenance fees
    • Compounded interest to maximize your earnings
    Pros
    • Competitive APY
    • No opening deposit or minimum account balance
    • No monthly service fee
    • Easy to save for various goals
    • 24/7 live chat
    Cons
    • Limited physical branch locations
    • Limited customer service phone hours

    Bonus amount: $100, $200, $300, $400, or $500

    You’ll receive $100 for every $10,000 you deposit when you open a new Capital One 360 Performance Savings™ account, up to $500 for a $50,000 deposit.

    Expiration date: June 10, 2020

    Who qualifies: You qualify for this bonus as long as you haven’t opened a savings or money market account with Capital One on or after January 1, 2016. (But if you have a CD, IRA, or Kids Savings Account, you still qualify.) You can’t combine this offer with another promotional offer, including the Refer A Friend promo.

    What you need to do:  

    • Open a new Capital One 360 Performance Savings™ account by June 10, 2020, using the code SCORE500
    • Deposit at least $10,000 within 10 days of opening your account
    • Maintain at least the amount to qualify for your desired tier for 90 days

    When you’ll receive the money: Capital One will deposit the money into your account within 60 days after you’ve completed the 90-day qualification period.

    Best savings and checking account package bonuses

    Read more about each account below:

    Intro Bonus

    $400 when you deposit $15,000 in the first 30 days and maintain balance for 60 days

  • Details
  • Pros & Cons

    • 700 US branches, 1,800 branches overseas, and 65,000 ATMs
    • Earn $400 bonus when you deposit $15,000 in the first 30 days and maintain balance for 60 days
    • Waive $25 monthly fee when you maintain a total of $10,000 average monthly balance in all Citi accounts
    Pros
    • Earn interest when you link to a savings account
    • No opening deposit
    Cons
    • $25 monthly service fee
    • $2.50 out-of-network ATM fee

    Bonus amount: $400

    Expiration date: June 30, 2020

    Who qualifies: New Citibank customers who have not had a Citibank account in the last 180 days.

    What you need to do:

    • Open an eligible checking account and savings account in the Account Package by June 30, 2020
    • Deposit $15,000 in new funds into your account within the first 30 days
    • Maintain a minimum balance of $15,000 for at least 60 days

    When you’ll receive the money: You’ll receive $400 within 90 days after your 60-day qualifying period ends.

    Intro Bonus

    $700 when you deposit $50,000 in the first 30 days and maintain a $50,000 balance for the first 60 days

  • Details
  • Pros & Cons

    • 700 US branches, 1,800 overseas branches, and 65,000 ATMs
    • Earn $700 bonus when you deposit $50,000 in the first 30 days and maintain a $50,000 balance for the first 60 days
    • Waive $30 monthly fee when you maintain an average monthly balance of $50,000 in all eligible linked accounts
    Pros
    • No opening deposit
    • No out-of-network ATM fees
    • Access to Citibank expert advisers
    Cons
    • $30 monthly service fee
    • Need a high balance to waive monthly fee

    Bonus amount: $700

    Expiration date: June 30, 2020

    Who qualifies: New Citibank customers who have not had a Citibank account in the last 180 days.

    What you need to do:

    • Open an eligible checking account and savings account in the Priority Account Package by June 30, 2020
    • Deposit $50,000 in new funds into your account within the first 30 days
    • Maintain a minimum balance of $50,000 for at least 60 days

    When you’ll receive the money: You’ll receive $700 within 90 days after your 60-day qualifying period ends.

    Is opening a bank account for the bonus worth it?

    In short — it depends.

    Depending on your balance, a cash bonus could end up earning you more money than a high APY would. However, make sure you won’t pay fees that will cancel out the amount you earn as a bonus. For example, if you earn a sign-up bonus but have to pay a monthly fee and are regularly penalized for overdrawing, opening a bank account for the bonus may not be worth it.

    Why do banks have sign-up bonuses?

    Banks offer bonuses to draw in new customers and to set themselves apart from competing banks that may offer similar interest rates, monthly fees, or opening deposit requirements.

    Can I receive more than one bank account bonus?

    You typically can’t receive more than one bank account bonus with the same bank within a certain amount of time — usually between a few months and a couple years. But if you have the funds, you may be able to receive one bank account bonus from multiple banks.

    Do I have to pay taxes on bank account bonuses?

    Yes, you do have to pay taxes on your bonus. When you file taxes for the year, you’ll report the sign-up bonus as income and pay income tax accordingly.

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