If you’re looking for some extra cash right now, you may be able to open a checking account and benefit from a new account holder bonus worth $100 or more.
In order to qualify for these bonuses, you typically need to jump through a few hoops, but it can be worthwhile for the extra cash. Banks often limit these bonus offers to new customers, require you to set up direct deposit and transfer a certain amount of cash into the account within 30 to 90 days from account opening. Once you meet the requirements, you can expect to receive your bonus.
While bonus offers can range from $100 to $750, the higher the reward, the more money you’ll need to deposit. Before you take advantage of one of these offers, figure out how much money you have available to transfer to a new account, then select the bonus that fits your budget.
CNBC Select analyzed and compared dozens of checking accounts offered by online and brick-and-mortar banks and credit unions that have bonus offers for new account holders.
When ranking the best checking account bonuses, we focused on the following criteria:
- Reasonable bonus requirements
- Available nationwide
- Physical branch locations and/or online accessibility
- Large ATM network
- FDIC or NCUA insured up to $250,000
The accounts on our list had to meet all of the requirements above to be considered one of the best. In addition, all checking accounts mentioned below provide access to thousands of free ATMs and offer mobile check deposits. (See our methodology for more information on how we choose the best checking accounts.)
Best checking account bonuses
- PNC Virtual Wallet® with Performance Select: Up to $400 bonus offer
- Chase Total Checking®: $200 bonus offer
- Chase College Checking℠ Account: $100 bonus offer
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PNC Virtual Wallet® with Performance Select
PNC Virtual Wallet® with Performance Select
Monthly maintenance fee
$25, with options to waive
Minimum deposit to open
$25
Minimum balance
$5,000 average monthly balance in Spend and Reserve in order to avoid monthly maintenance fee
Annual Percentage Yield (APY)
For current interest rates, call 1-888-PNC-BANK (1-888-762-2265)
Free ATM network
9,000+ PNC ATMs
ATM fee reimbursement
2 per statement period
Overdraft fee
$36, option to enroll in overdraft protection at no charge
Mobile check deposit
Yes
See our methodology, terms apply.
Pros
- New account holders can earn a welcome bonus of up to $200
- Earn cash or points through PNC Purchase Payback® program
- Reimbursement for out-of-network ATM fees
- Options to waive monthly maintenance fee
Cons
- $25 monthly maintenance fee
- Have to call PNC Bank to find out the APY offered in your area
Bonus: up to $400
Expiration: March 31, 2023
How to earn the bonus: Establish qualifying direct deposits of $5,000 or more to your new Spend account within 60 days from account opening. Qualifying direct deposits include recurring electronic deposits made by an employer or an outside agency. The bonus will be credited to the eligible account within 60 to 90 days after all the requirements have been met.
Who's eligible for the bonus? You can qualify if you don't currently have signing authority on an existing PNC Bank consumer checking account, haven't closed an account within the past 90 days and haven't received a promotional premium in the past 12 months.
Monthly fee: $25, waived with one of the following:
- Direct deposits of $5,000 or more to your Spend each statement period
- An average monthly balance of $5,000 in Spend and Reserve
- A combined average monthly balance of $25,000 in PNC consumer deposits and/or investments
Chase Total Checking®
Chase Total Checking®
Monthly maintenance fee
$12, with options to waive
Minimum deposit to open
$0
Minimum balance
$1,500 daily balance to avoid monthly maintenance fee
Annual Percentage Yield (APY)
None
Free ATM network
Access to more than 16,000 Chase ATMs
ATM fee reimbursement
None
Overdraft fee
*With Chase Overdraft Assist™, we won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
Mobile check deposit
Yes
*Terms Apply.
See our methodology.
Pros
- Top-rated mobile app
- No minimum deposit to open an account
- Chase is no. 2 on J.D. Power's 2019 U.S. National Banking Satisfaction Study
- Send and receive money with Zelle®
Cons
- No APY
- No reimbursement for out-of-network ATM fees
How to avoid the monthly fee:
- Electronic deposits made into this account totaling $500 or more,
- or a balance at the beginning of each day of $1,500 or more in this account,
- or an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances
Bonus: $200
Expiration: July 19, 2023
How to earn the bonus: Set up direct deposit within 90 days of account opening. After you've completed the requirements, Chase will deposit the bonus in your new account within 10 business days. If your account is closed within six months after opening, Chase will deduct the bonus amount at closing.
Who's eligible for the bonus? You can qualify if you don't have an existing Chase checking account, you haven't received a Chase account-opening-related bonus in the past two years, and you haven't closed an account within 90 days or closed an account with a negative balance. You can receive only one bonus per account.
Monthly fee: $12, waived with one of the following:
- Monthly direct deposits of $500 or more
- A minimum daily balance of $1,500 or more
- An average beginning day balance of $5,000 or more in this account and qualifying linked Chase bank accounts
Chase College Checking℠ Account
Chase College Checking℠
Monthly maintenance fee
$6 monthly service fee; no monthly service fee for up to 5 years if you're a student between the ages of 17-24 at account opening with proof of student status
Minimum deposit to open
$0
Minimum balance
No monthly service fee if you have an average ending day balance of $5,000 or more in this account
Annual Percentage Yield (APY)
None
Free ATM network
More than 16,000 Chase ATMs
ATM fee reimbursement
None
Overdraft fee
*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
Mobile check deposit
Yes
See our methodology, terms apply.
Pros
- Top-rated mobile app
- No minimum deposit to open an account
- No. 2 on J.D. Power's 2019 U.S. National Banking Satisfaction Study
Cons
- No reimbursement for out-of-network ATM fees
Bonus: $100
Expiration: July 19, 2023
How to earn the bonus: Complete 10 qualifying transactions within 60 days of coupon enrollment. Qualifying transactions include:
- Debit card purchases
- Online bill payments
- Checks paid
- Chase QuickDeposit℠
- Chase QuickPay with Zelle®
- Direct deposits
Once you've met these requirements, Chase will deposit the bonus into your new account within 10 business days.
Who's eligible for the bonus? You can qualify if you don't have an existing Chase checking account, you haven't received a Chase account-opening-related bonus in the past two years, and you haven't closed an account within 90 days or closed an account with a negative balance. You can receive only one bonus per account.
Monthly fee: $6, waived with one of the following:
- College students age 17 to 24, who show proof of student status at account opening, waived up to five years
- One direct deposit each month
- An average beginning day balance of at least $5,000
Our methodology
To determine which checking accounts provide the best place to deposit your money and earn a bonus, CNBC Select analyzed dozens of U.S. checking accounts offered by online and brick-and-mortar banks, including major credit unions. We narrowed down our rankings by only considering checking accounts that have bonuses available to new applicants.
While the accounts we chose in this article all have bonus offers, we also compared each checking account on a range of features, including:
- Reasonable bonus requirements
- Available nationwide
- Physical branch locations and/or online accessibility
- Large ATM network
- FDIC or NCUA insured up to $250,000
All of the accounts included on this list are Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) insured up to $250,000. This insurance protects and reimburses you up to your balance and the legal limit in the event your bank or credit union fails.
The rates and fee structures for checking accounts are subject to change without notice and they often fluctuate in accordance with the prime rate.
Your earnings depend on any associated fees and the balance you have in your checking account. To open an account, some banks and institutions may require a deposit of new money, meaning you can’t transfer money you already had in an account at that bank.
