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Many banks offer checking account bonuses to entice you to open a new account with them. You can earn up to $3,000 when opening a new bank account today, although you'll have to meet pretty hefty requirements to do so.
The highest bank account bonus currently offered is from Chase Bank. The bank is offering up to $3,000 for both new and existing customers who open up or upgrade to a Chase Private Client Checking℠ account. This offer is available until October 16, 2024. If you're interested in earning this account bonus, we've provided more information on who's eligible and how to earn it below.
In order to get the $3,000 Chase Private Client Checking℠ account bonus, you'll need to deposit a significant amount of money.
You'll first need to go to Chase's website, specifically on the Chase Private Client Checking℠ bonus page, to enter your email address and get your promo code. Once you have that, you'll need to meet with a Chase Private Client Banker, who can help you open a new Chase Private Client Checking℠ account or upgrade a preexisting account. Once you've opened an account, you'll need to transfer a specific amount of new money or securities to various Chase or J.P. Morgan accounts before 45 days have passed. Eligible accounts include:
Other accounts, such as business savings accounts, business checking accounts, or CDs, are ineligible.
Depending on how much money you transfer, you'll earn a bonus. The bonuses are as follows:
Once 45 days have passed, Chase will determine the size of your bonus based on how much you've deposited. If you keep that money in your accounts until 90 days have passed since you opened your Chase Private Client Checking℠ account, you'll receive your bonus in your Chase Private Client Checking℠ within 40 days after meeting all the requirements.
Keep in mind that the Chase Private Client Checking℠ account comes with a $35 monthly service fee. To avoid this monthly bank maintenance fee, you'll need to either keep at least $150,000 worth of daily balance across your Chase Private Client Checking℠ account and other qualifying linked accounts or have a linked Chase Platinum Business Checking account.
If you're interested in banking with Chase but don't want to put that much money toward a checking account bonus, Chase also offers smaller bonuses for several of its other checking accounts, such as its Chase Total Checking®, Chase Secure Banking℠, and Chase College Checking℠ accounts. You can expect to earn between $100 and $300 if you go for one of those.
If Chase's checking account bonuses don't interest you, several other banks offer checking accounts with high bonuses. Here are some of the best checking account bonuses across other major banks.
HSBC Bank's checking bonus is similar to Chase's, in that it requires you open a premier checking account and deposit a significant amount of new money into qualifying accounts to earn it. If you can meet those requirements, however, you can earn up to $2,500.
First, you'll need to open an HSBC Premier Checking account. HSBC Bank primarily serves wealthy clients, so you'll need to meet one of these three requirements to qualify for Premier status:
After August 29, 2024, the first requirement above will become $100,000, and for the last requirement, any residential loan will count as long as it's in good standing.
Once you've opened your HSBC Premier Checking account, you'll need to deposit new money into eligible deposit and investment accounts within 20 days to earn the bonus. The bonus breakdown is as follows:
You'll need to keep that money in your account for three months. At the end of those three months, your bonus will be deposited into your account within eight weeks. This offer will only be available until November 22, 2024.
Keep in mind that HSBC Premier Checking comes with a higher monthly fee than Chase Private Client Checking℠; however, it's easier to waive. HSBC Premier Checking has a $50 monthly service fee* that can be waived by meeting one of the requirements you met to open the account in the first place.
The Huntington Bank Platinum Perks Checking account bonus is easier to get than the Chase Private Client Checking℠ and HSBC Premier Checking bonuses, but you'll have to live in specific states to be eligible for it.
In order to earn the $600 Huntington Bank Platinum Perks Checking bonus, you'll need to open a new account before October 7, 2024. You'll need to deposit at least $25,000 within 90 days of opening it, and you'll need to keep the account open for 90 days.
Once you've done that, you'll receive your bonus within 14 days.
Keep in mind that the Huntington Bank Platinum Perks Checking account comes with a $25 monthly service fee if you don't keep a total of $25,000 or more across all of your Huntington accounts. If you don't think that's possible for you, you can still earn $400 with the Huntington Bank Perks Checking account. The rules are the same, except you'll only need to make a qualifying direct deposit within the first 90 days to get the bonus. It comes with a $10 monthly service fee that can be waived by either having $1,000 of total monthly direct deposits or keeping $5,000 total across all your Huntington accounts.
You'll only be able to bank with Huntington if you live in Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, or Wisconsin. If you live outside of those states, you might want to consider one of our other bonus options instead.
BMO offers several different checking account bonuses depending on what account you're interested in; however, its highest offer is for the BMO Relationship Checking account, which offers a $500 bonus.
To earn this bonus, you can't already have a BMO personal checking account. If you've had a personal checking account with BMO before, it needs to have been closed for a year or more. If you qualify, you'll need to open a BMO Relationship Checking account and make a qualifying direct deposit of $7,500 or more within the first 90 days. You'll receive your bonus around 100 days after you open the account.
If you're interested in banking with BMO, but won't be able to have a qualifying direct deposit of that size, you might be interested in opening a BMO Smart Advantage Checking Account or BMO Smart Money Checking, both of which come with a $350 bonus if you can make a qualifying direct deposit of $4,000 or more within the first 90 days. You'll have until September 9, 2024 to open your account no matter which one you go with.
Axos Bank also has a up to $500 bonus for its Axos Bank Rewards Checking account. In order to earn it, you'll need to open an Axos Bank Rewards Checking account by August 31, 2024 using the promo code RC500. The first month, you won't be able to earn any bonuses. For the next five months after that, you'll be able to earn $100 per month that you:
For each month that you meet both of these requirements, you'll earn $100, for a total of $500 if you meet both requirements each month. You'll get a $100 bonus in your Axos Bank Rewards Checking account within 15 business days of the end of each successful monthly statement cycle.
Axos might be your best bet if you want to avoid bank fees; it's the only one of these checking accounts with bonuses that doesn't come with a monthly maintenance fee. If you're mostly interested in the bank bonus and less interested in each account's perks, this will make sure you don't accidentally lose money.
Checking account bonuses can be great for people who want to open a new bank account with a cash bonus. Just keep in mind that almost every account with a bonus requires you to meet extra requirements in addition to opening a new account. Before committing to opening an account, make sure you understand what's required to earn the bonus and evaluate your budget to make sure you can meet those requirements.
