Looking for a bank that will reward you handsomely for opening an account?
Many banks often provide two main options for availing bank bonuses: establishing a direct deposit or transferring a significant amount of money and retaining it for several months.
While many banks might tempt you with several hundred dollars for relocating your direct deposit, the real deal is in the thousands. This typically requires moving in a considerable amount of money. If you’ve recently cashed in on a big sale, be it a business, real estate, or another significant asset, and you’re wondering where to park this windfall temporarily, some banks might just have the right offer for you.
Here’s a snapshot of some lucrative offers:
This table shows the highest bonus one can get and the criteria to achieve it. Some of the offers might have even more profitable tiers, but this table focuses on the minimum requirements to earn a bonus over $1,000. Notably, we’ve also included credit cards since some provide bonuses exceeding $1,000, linked to spending rather than deposits.
| Bank Name | Cash Bonus | Terms to Get Bonus |
|---|---|---|
| Citi Priority Account | up to $2000 | Deposit $300,000+ |
| Citigold Checking Account | up to $2000 | Deposit $300,000+ |
| Chase Private Client | up to $3,000 | Deposit $300,000+ |
| Tastytrade | up to $3,000 | Deposit $100,000+ |
| M1 Finance | up to $10,000 | Deposit or Transfer $250,000+ |
| Wells Fargo Premier (in branch only) | $2,500 | Deposit or Transfer $250,000+ |
| Chase Sapphire Preferred Card | 60,000 Ultimate Rewards points | Earn 60,000 Ultimate Rewards points after you spend $4,000 in purchases within the first three months |
| Capital One Spark Cash Plus | up to $1,000 cash bonus | Earn $500 once you spend $5,000 in the first 3 months and and another $500 once you spend $50,000 in the first 6 months of account opening |
Detailed Bank Offers:
1. Citi Priority Account – up to $2,000:
Citi is offering up to $2,000 when you open a qualifying checking account. Deposit the required new funds to Citi within 20 days, maintain the minimum balance for 60 consecutive days, and get your bonus within 30 days of fulfilling these conditions.
2. Citigold® Checking Account – up to $2,000:
Similar to the Citi Priority, deposit and retain a certain amount, and the bonus will reflect in your account within 30 days post fulfilling all conditions.
3. Chase Private Client – up to $3,000:
Chase offers up to $3,000 based on your deposit amount. After making the deposit, maintain the balance for a specific period, and your bonus will be credited accordingly.
4. Tastytrade – up to $3,000:
New and existing customers can benefit from Tastytrade’s offer by transferring funds. Ensure you use the referral code “NEWBONUS23” during application. (Offer valid till 9/30/2023)
5. M1 Finance – up to $10,000:
M1 Finance, a self-directed robo-advisor, allows you to invest in “pies” or baskets of stocks. Their new account bonus varies based on your deposit amount.
6. Wells Fargo Premier $2,500 Offer [In Branch Only]:
Visit a Wells Fargo branch to open a new Premier Checking account, deposit the necessary amount, and receive your bonus directly into your account once all requirements are met.
7. Capital One 360 Performance Savings – up to $1,000 [EXPIRED]:
This is a tiered bonus. Deposit the requisite amount, and depending on your tier, earn a bonus.
8. Chase Sapphire Preferred Card – 60,000 Ultimate Rewards points:
A credit card offer where you can earn reward points on spending a certain amount within the first few months.
9. Capital One Spark Cash Plus – up to $1,000 cash bonus:
Business owners can earn substantial cashback on their expenditures using this card.
Note: This content is solely based on the writer’s research and analysis. It hasn’t been endorsed by any financial institution.
Other Banking Bonuses:
While $1,000 bonuses are rare and often come with demanding requirements, there are many other bank bonuses ranging in the few hundred dollars that might be easier to attain.
Some of these include offers from Citi Priority Account, Discover Online Savings Account, Bank of America, and Chase Total Checking. Keep an eye on this space for more updates on lucrative bank deals.
