Best Bank Account Bonuses & Promotion Offers – September 2020

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When you find a solid savings or checking account, chances are, you’ll get comfortable with your bank – and you’ll never want to switch.

If the bank ticks all the boxes for you – like providing quick access to your money, an easy-to-use mobile app, decent APY, and no monthly maintenance fees – why would you ever want to move your account elsewhere?

It is, after all, a lot of work to change banks! I completely get that.

But by staying with one bank your whole life, you’re missing out on some very attractive checking and savings account offers. I’m talking generous cash bonuses, which you could get just for opening a checking or savings account (or both!).

Whether you’re interested in what the best checking account offers are, or what rewards you could get for opening a new savings account – read on, because, in this post, I’m sharing the ultimate best bank account bonus offers right now.

Best Bank Promotions & Bonus Offers September 2020

Here are the best bank bonuses available right now:

Wells Fargo Everyday Checking – $400 Bonus

Wells Fargo is rewarding new customers with a limited time $400 bonus for opening a new Everyday Checking account.

The account can be opened in a few easy steps online, which is a bonus if you prefer an online experience over visiting a bank branch.

The account does come with a $10 monthly service fee, which can be avoided if you meet any of the following requirements:

  • Making ten or more posted debit card transactions
  • Qualifying direct deposits totaling $500
  • Have a $1,500 minimum daily balance
  • Have a linked Wells Fargo Campus Debit Card or Campus ATM
  • Must be 17 to 24 years old

How To Qualify:

To qualify for the Wells Fargo Bonus Offer, you will need to open an account and deposit $25 into the account by July 31, 2020. You will also need to receive a total of $4,000 or more in qualifying direct deposits for three consecutive months (within 150 days of opening your account).

TD Bank Beyond Checking – $300 Bonus

You can earn a $300 sign-up bonus with the TD Beyond Checking account when you open a new account and make $2,500 in direct deposits in the 60 days from account opening.

With TD Bank, you get access to approximately 1,300 free ATMs in the U.S. and get reimbursed for fees from other ATMs if you maintain a minimum daily balance of $2,500.

There is a monthly maintenance fee of $25, but you can go fee-free if you set up a monthly direct deposit of $5,000 or more, or maintain a daily balance of at least $2,500, or have a $25,000 combined balance across eligible TD accounts.

With TD Bank, you’ll also earn interest on your checking account. It may be small (up to 0.05% APY) – but that still means your money is growing. It could add up, especially if the amount you deposit into your account is quite substantial.

TD Bank often offers very attractive combined bonuses, too – for example, previously you could get up to $500 for opening a TD Beyond Checking account and a TD Preferred Savings account. The offer ended in August, but make sure you keep an eye out for new combo deals.

How To Qualify:

To qualify, deposit $25 into your new account, then receive at least $2,500 worth of qualifying deposits within 60 days.

Chase Premier Plus Checking – $300 Bonus

Open a new Chase Premier Plus Checking account, and enjoy a $300 sign-up bonus plus interest on your money.

With Chase, you’ll also earn interest on your money. You’ll earn 0.01% APY, which isn’t much, but that’s still better than nothing – especially on a checking account!

There is a $25 monthly service fee, which can be avoided if you keep an average of at least $15,000 in your account daily. Alternatively, you can go fee-free by setting up automatic payments for your Chase first mortgage from this Chase account.

How To Qualify:

To qualify for the bonus, open a new Chase Premier Plus Checking account, and set up a direct deposit within the first 90 days of opening your account. Within ten business days, you’ll receive the bonus!

Chase SavingsSM Account – $150 Bonus

If you’re looking for a large national bank to store your cash, the Chase SavingsSM account is a great place to do so. Plus you’ll get access to 16,000 ATMs and nearly 4,900 branches. This is an interest-earning account; however, it’s not the highest at 0.01% APY.

You can get a $150 bonus just by signing up and completing the offer requirements listed below.

How To Qualify:

Once approved, you will have to 20 business days to transfer a total minimum amount of $10,000 in new money and keep that balance for 90 days.

HSBC Advance Checking OR Premier Checking – $200 or $450 Bonus

To receive a whopping $450 welcome bonus, you may want to consider becoming a customer of HSBC. HSBC is offering excellent cash bonuses for opening an HSBC Premier Checking account before September 30, 2020.

You can earn $450 if you open an HSBC Premier Checking account and complete qualifying activities (such as making recurring Direct Deposits of at least $5,000 from a third party to the HSBC Premier checking account each month, and receiving monthly Direct Deposits totaling at least $5,000 into the checking account for 3 consecutive months from the second month of account opening).

You’ll get your $450 bonus approximately eight weeks after completing these qualifying activities.

Alternatively, you can get a $200 welcome bonus with a new HSBC Advance Checking account. To qualify, you’ll need to set up qualifying direct deposits into your new HSBC Advance checking account of at least $500 for 3 consecutive months.

You’ll get your $200 bonus approximately eight weeks after completing these qualifying activities.

Both accounts come with no foreign transaction fees and no ATM fees – but a monthly fee may apply if you don’t meet the requirements above, so before you do apply for one of these accounts, make sure you can meet them.

How To Qualify:

To qualify for the HSBC Premier Checking bonus – make recurring Direct Deposits of at least $5,000 from a third party to the HSBC Premier Checking account per month + receive monthly Direct Deposits totaling at least $5,000 for 3 consecutive months from the second month of account opening.

To qualify for the HSBC Advance Checking bonus – make recurring monthly qualifying direct deposits totaling at least $500 from a third party to you new account for 3 consecutive months from the second month of account opening.

Chase Total Checking – $200 Bonus

New customers who open a Chase Total Checking accounts can earn a $200 sign-up bonus when you setup direct deposit within 90 days!

This account does have a monthly service fee – but you can avoid paying that if you know how to play by the rules. With Chase Total Checking account, either receive direct deposits totaling $500 per monthly statement period, maintain a balance of $1,500 or more at the beginning of each day or an average beginning day balance of $5,000 in any combination of this account as well as linked Chase checking, savings, or other balances – and you won’t pay the monthly fee.

How To Qualify:

Open a Chase Total Checking account and set up a direct deposit to qualify for a $200 bonus. Sounds pretty awesome, right?

Bank of America – $100 Bonus

If you’re looking for a no-fuss way to qualify for a sign-up bonus, Bank of America offers just that.

Open a new checking account by December 31, 2020, and set up + receive at least two qualifying direct deposits of $250 within the first 90 days of account opening. And – voila – the $100 bonus is yours!

The offer is only valid to new Bank of America checking account customers, so if you already have a checking account with the bank, you won’t qualify. There are three Bank of America checking accounts to choose from:

  • Bank of America Advantage SafeBalance Banking: $25 opening deposit
  • Bank of America Advantage Plus Banking: $100 opening deposit
  • Bank of America Advantage Relationship Banking: $100 opening deposit

Each account has a minimum opening deposit as well as monthly service fees, but there are ways to waive the fees (for example, enrolling in Preferred Rewards, meeting minimum balance requirements, and having a qualifying minimum direct deposit).

How To Qualify:

To qualify, open one of the three checking accounts using the link below by December 31, 2020, and set up and receive two or more qualifying direct deposits of $250 or more within the first 90 days of account opening

Capital One Bonus Offers – Up to $100 Bonus

Capital One offers sweet cash bonuses to new customers that open one of the accounts below:

  • Earn up to a $100 bonus for opening a Capital One 360 Performance Savings Account – and depositing money into it. Depositing between $250 and $9,999.99 into your new savings account will guarantee a $25 bonus while depositing $10,000 or over will earn you $100.
  • Get a $25 bonus for opening a Capital One 360 Checking Account with a minimum deposit of $250. You will also need to make at least three debit card purchases (or Person2Person payments) within 45 days of opening your account. Your bonus will then be transferred to your account on day 50!

The good thing about these accounts is that there are no maintenance fees nor minimums – although to qualify for the bonuses, you will need to move some money around.

Bear in mind that your bonus is only valid for one account, so you actually can’t open both and get a $125 bonus according to the T&Cs, which is a bit of a shame.

How to Qualify:

To receive this bonus, open a new 360 Performance Savings account and deposit $250 or more into your new account ($10,000 or more if you’re after the big bucks!) or open a 360 checking account and deposit $25 or more and make at least three debit card purchases

How to Choose the Best Bank For You

Checking and savings account offers aside, the bank you choose should tick more than just the new account bonus box.

There are so many options to choose from that finding that one bank that is the absolute best option for your financial needs is becoming more difficult.

However, it’s not impossible! Make sure you do your research and look beyond the sign-up bonus. And be sure to make sure you can qualify for the bonus. Sometimes the direct deposit requirements are pretty high.

There’s so much more to get excited about when you’re thinking about switching banks — thinks like excellent interest rates, no monthly maintenance fees, or quick and free access to thousands of ATMs.

Think about what’s important to you – being able to bank on-the-go with a top-rated app? Or perhaps it’s the ability to speak to a representative face-to-face when you have questions? Or maybe, you’d like to only use one financial institution for all your financial needs – such as a checking account, a savings account, and perhaps even investments? Maybe you want a bank with ATMs everywhere you go?

Thinking about the features that are important to you will help make sure you pick the provider that’s right for you. That way, you’ll be making sure that the work you put in earns you not just the bonus – but also a solid banking experience in the long-run.

Online Banks and Credit Unions

Your best option for a bank may not be a national bank. More and more online banks have personal checking accounts which could give an online bank the muscle you need in an every-day bank.

Online banks tend to have high yield savings accounts and money market accounts that pay higher rates of return on your savings.

Finding an ATM will be harder with most online only banks, but several banks reimburse ATM fees when you need to use another bank’s machine. Be sure to find out how many reimbursements you can get during each statement cycle.

Account holders at many online banks like to have accounts at a local national bank or credit union, too. This way you could connect your local and online banks, making transfers more seamless.

For example, you could make a cash deposit through your local bank or credit union and then transfer the money into your online savings account.

Of course, make sure any bank — local or online — has FDIC protections in place.

Didn’t See a Bonus Offer For You? These Banks Run Frequent Bonuses

Not all of these banks run bank offers all the time, so they may not appear on my list above right now.

But if you’d like to shop for bonuses before opening a deposit account, you may be able to find bonuses with these banks:

  • CIT Bank Promotions – I especially like the CD laddering you can get any time at this online bank.
  • Citibank Promotions – Not connected to CIT Bank; a huge financial institution with branches and ATMs everywhere. Look for the Citi Priority Account Package account promotion.
  • Chase Bank Promotions – A full-service bank with branches and ATMs all over.
  • US Bank Promotions – US Bank is the 5th largest bank in the US.
  • Bank of America Promotions – BOA offers numerous promotions and extra perks for account holders.
  • PNC Bank – Virtual Wallet helped pioneer online banking way back when. Look for bonuses when you open a Performance Spend or Performance Select checking account.
  • Huntington Bank – the Huntington 5 checking offers come up once in a while. Anyone can open an account, but the bank’s footprint covers states like Illinois, Michigan, Ohio, and Pennsylvania, West Virginia and Indiana.
  • (Truist) SunTrust – Another bank with a regional footprint (in Florida, Texas, and other Sun Belt states). The Essential Checking Account runs bonus offers from time to time. SunTrust and BB&T have merged to become Truist.
  • American Express — It’s not just a credit card anymore. American Express Bank is great for online savings.
  • Discover Bank — Another staple of the credit card industry with a solid online bank.
  • Fifth Third Bank – great for business checking accounts.
  • BMO Harris – a good combination online / in-person option in states with locations which include Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, and Wisconsin.
  • Chime – a simple option for millennials.
  • Ally – full-service but online.
  • Citizens Bank – An East Coast option that also excels with private student loans.
Additional Disclosures: Millennial Money has partnered with CardRatings and creditcards.com for our coverage of credit card products. Millennial Money, CardRatings and creditcards.com may receive a commission from card issuers. This site does not include all financial companies or financial offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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