The 6 Best Bank Bonuses of 2019
See what you can earn when you open a new account
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The banking industry is a very competitive place, and financial institutions are all vying to hold your hard-earned dollars. Some banks offer customers a bonus for opening or adding to an account. So if you're thinking about moving around your money, it's to your advantage to consider these bonus offers.
Bank account bonuses vary in size and requirements, so it is important to review the details of any offer and shop around a bit before signing up. Also, if you plan to move your primary checking or savings account, consider all of the costs and features to determine if it is a good fit for your needs. If you have a large emergency fund or large cash savings in general, you are in a prime position to qualify for savings account bonuses. If you are unhappy with your current bank, a good checking account signup bonus can be the tie-breaker that leads you to choose one bank over another.
Many bank bonuses require a minimum deposit, direct deposit minimum, deposit period, or other hurdles to get your bonus. Before you sign up, make sure you understand the requirements and can qualify. Also, make sure to look at the latest interest rate when signing up, as the interest on the best savings accounts can add up over time.
HSBC currently has three signup bonuses available for its three main checking account offerings. You can earn $200 with a new Choice Checking account, $350 for the mid-tier Advance Checking, and $750 with HSBC Premier checking when you qualify.
Choice checking requires $1,500 in new money deposits for at least 90 days. Advance checking requires a $10,000 deposit. Earning the biggest $750 bonus requires $100,000 in deposits in eligible accounts. While that’s a huge hurdle to meet, there are no direct deposit requirements.
HSBC isn’t the biggest name in banking in the United States, but it is the largest bank in Europe and 7th largest in the world. Plus, with FDIC insurance, you know your money is always safe.
Among large, nationwide banks headquartered in the US, Citi offers a sign up bonus of $600 when you deposit $50,000 in New-to-Citibank funds in the Citi Priority Account Package.
These bonuses also don’t require any minimum direct deposit activity. However, the middle bonus offers an extra $100, to $500 total, when you complete a qualifying direct deposit two months in a row within 60 days of opening your new account.
These accounts have varying levels of fees that are avoidable when you meet minimum balance or activity requirements. Fees range from $12 to $30 monthly for the checking accounts. However, the requirement to avoid the fee is equal to the deposit requirement for the bonus, so you’ll be in good shape as long as you leave the funds alone for the minimum 60 day period.
TD Bank will hand you up to $300 with qualifying activity in a new TD Premier Checking account. You’ll get $300 with $2,500 or more in total direct deposits within 60 days of opening a new account. If that’s too hefty for you, the TD Convenience Checking offers a $150 bonus with just $500 in total direct deposits within 60 days of opening a new account.
The lower-end account charges $15 per month unless you keep a minimum $100 daily balance. TD Premier Checking charges $25 per month unless you keep a minimum $2,500 daily balance. If you can maintain those requirements, this bonus is a tempting deal.
This offer is limited to those in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia or Washington, D.C.
A new PNC Virtual Wallet account can earn you a $300 bonus. For the best deal, you’ll need to open a new Virtual Wallet with Performance Select account and add $5,000 or more in direct deposits plus 10 debit card purchases within 60 days of opening your account. Earn $200 with a Performance Spend account and 10 debit purchases after $2,000 in direct deposits. The basic Virtual Wallet account offers a $50 bonus with $500 or more in direct deposits and 10 debit card purchases.
These three accounts have varying fees and features. One interesting feature is a breakdown between what it calls Spend, Reserve, and Growth accounts within the PNC Virtual Wallet. Those represent checking, short-term savings, and long-term savings respectively. With all three accounts, you can avoid the monthly fee with qualifying activity.
Like at other banks, higher tier accounts come with higher fees and better features. The flagship Virtual Wallet with Performance Select includes ATM fee reimbursement. The basic Virtual Wallet account doesn’t give you the same benefit.
The Capital One Money Market account is a great high-interest savings account that ranks among the best savings accounts on the market today. The account looks even better with $200 for signing up. You’ll have to deposit $10,000 or more in a new account, opened using code OFFER200, to get the bonus.
Capital One is known for having no monthly fees on its accounts. There are no direct deposit minimums or other requirements to get this offer. You just need to bring the deposits in from an outside bank to qualify. If you meet those terms, you should get the bonus within 60 days.
There is no specific minimum time to keep the cash in a new account to keep the bonus, but with one of the best savings interest rates out there, you probably won’t want to take your money anywhere else anytime soon.
Discover offers another great set of bank accounts with no monthly fees and competitive interest rates. New account holders can qualify for a $150 or $200 bonus after depositing $15,000 or $25,000 in a new savings account respectively.
With easy earning requirements, no monthly account fees to worry about, and no minimum deposit time to qualify for the bonus, this one is a really good deal. Just meet the deposit requirements and your bonus should show up in your account.
Discover is best known for its line of credit cards, but it has expanded into the world of banking with very competitive accounts. Like Capital One Bank, these are worth considering even without the bonus. Getting $200 to bring your cash over just makes the deal even more tempting.