BMO has the highest bank account bonus. New customers may be eligible for a bonus of up to $4,100 through two limited-time offers. Start saving today.
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Many of the best banks are offering high bank account bonuses for new customers.
The highest bank account bonus today is available at BMO (Member FDIC). The brick-and-mortar bank is offering a cash bonus of up to $3,500 when opening BMO Relationship Plus Money Market Account. New customers may also be eligible for a BMO personal checking account bonus of up to $600.
By combining the checking and money market account offers, new bank account owners may be eligible to receive a bonus total of up to $4,100.
You'll need to open the BMO Relationship Checking Account and the BMO Relationship Plus Money Market Account and meet certain requirements to get a total of $4,100 in cash bonuses.
New customers are eligible for both bank account bonuses, as well as anyone who hasn't opened a personal BMO checking and money market account in the last 12 months.
To receive a $600 cash bonus on the BMO Relationship Checking Account, open the account online, by phone, or at a branch using a promotional code. Then receive a total of $7,500 or more in qualifying direct deposits during the first 120 days of opening the account. The cash bonus will be deposited into the checking account around 130 days after you've opened the account.
To receive a $3,500 cash bonus on the BMO Relationship Plus Money Market Account, you must also open an account using a promotional code. Promo codes are applied automatically online, and if you sign up to receive a promo code through email, the code can be used for opening both money market and checking accounts. Once you've opened the account, fund it with new money within the first 30 days of opening. (New money means any funds that aren't currently in a BMO bank account or were in a BMO account in the last 14 days.)
The amount of money you deposit into the money market account will determine how much you earn as a bonus:
You'll need to maintain your new money balance from Day 31 to Day 120. Once you've completed all of the activities, the bonus will be deposited into your money market account around 130 days after you've opened the account.
If you don't qualify for the BMO Relationship Check Account bonus, the bank has more personal checking account bonuses available until December 8, 2023.
BMO Smart Money Checking and the BMO Smart Advantage Checking Account both offer a $400 checking account bonus, and the requirements for earning the bonus are the same. You'll have to open an account using a promotional code, and receive a total of $4,000 or more in qualifying direct deposits during the first 120 days.
Keep in mind that BMO Smart Money Checking and BMO Smart Advantage Checking have different perks. BMO Smart Checking doesn't charge any overdraft fees — it declines transactions when you overdraw. Meanwhile, BMO Smart Advantage Checking stands out because it's the only BMO checking account that doesn't have monthly service fees.
If you'd like to consider more options, the following national banks also have high bank account bonuses. Our best bank account bonuses guide includes even more financial institutions with cash bonuses in addition to the ones mentioned below.
The banks mentioned are all FDIC-insured. Federal insurance is important because it protects up to $250,000 per depositor, per category in a bank account in the event a bank fails.
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