Saturday, October 1, 2022

    The best bank account bonuses of August 2022

    The best bank account bonuses of August 2022

    Updated

    2022-09-01T18:18:41Z


    Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

    Best bank account bonuses

    • Citigold® Checking Account

    • Citi Priority

    • HSBC Premier Checking (Member FDIC)

    • Huntington Bank Platinum Perks Checking

    • TD Bank Beyond Checking Account

    • SoFi Checking and Savings

    • Chase Total Checking®

    • Huntington Bank Perks Checking

    • TD Bank Convenience Checking Account

    • Wells Fargo Everyday Checking Account

    • CIT Bank Money Market Account

    • Axos Bank Rewards Checking

    • Bank of America Advantage Plus Checking Account

    • Chase Secure Banking℠

    • Bank of America Advantage SafeBalance Banking® Account

    • Alliant High-Interest Checking Account

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    Editor’s rating

    4.25/5

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    Editor’s rating

    3.5/5

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    Editor’s rating

    3.75/5

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    Editor’s rating

    3.5/5

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    Editor’s rating

    4/5

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    Editor’s rating

    4.25/5

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    Editor’s rating

    3.5/5

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    Editor’s rating

    4/5

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    Editor’s rating

    4/5

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    Editor’s rating

    3.5/5

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    A one-year Amazon Prime subscription worth $139

    Editor’s rating

    4/5

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    Editor’s rating

    4.25/5

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    Editor’s rating

    3.75/5

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    Editor’s rating

    4/5

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    Editor’s rating

    3.5/5

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    $100 bonus and $100 donated to the Alzheimer’s Association, American Cancer Society, or Easterseals

    Editor’s rating

    4.5/5

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    We’ve gone through the best promotions among national and regional banks and below are our top picks for September 2022.

    Citigold® Checking Account


    Annual Percentage Yield (APY)


    N/A


    Minimum Deposit Amount


    None


    Annual Percentage Yield (APY)


    N/A


    Minimum Deposit Amount


    None

    Pros

    • No monthly service fee
    • Refunds any fees charged by out-of-network ATMs
    • No overdraft fees
    • Access to wealth management team
    • You may qualify for up to $200/year in membership and subscription rebates

    Cons

    • You must have $200,000 combined in Citi bank accounts, and linked retirement/investment accounts to be a Citigold member
    • BBB gives Citi an F in trustworthiness


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    More Information

    • Earn up to $2,000 cash bonus when you open a new eligible Citigold® Checking Account with required activities
    • No Citi fees at non-Citi ATMs
    • No monthly service fee when you maintain a combined average monthly balance of $200,000 in eligible linked deposit, retirement and investment accounts
    • 0.00% Annual Percentage Yield
    • Within 20 days of opening, deposit $200,000 new-to-Citibank funds
    • Maintain a minimum balance of $200,000 for 60 consecutive calendar days

    Bonus amount: cash bonus of up to $2,000 when you maintain a minimum eligible balance and complete required activities

    Expiration date: January 9, 2023

    Who qualifies: You qualify as long as you haven’t had a Citi checking account in the last 180 days and you’re 18 years old.

    What you need to do:

    • Open a new checking account in the Citigold® Checking Account by January 9, 2023
    • To earn $200, you’ll need to have a minimum deposit and minimum balance of $10,000 to $29,999 within 20 days of your account opening.
    • To earn $500, you’ll need to have a minimum deposit and minimum balance of $30,000 to $74,999 within 20 days of your account opening.
    • To earn $1,000, you’ll need to have a minimum deposit and minimum balance of $75,000 to $199,999 within 20 days of your account opening.
    • To earn $1,500, you’ll need to have a minimum deposit and minimum balance of $200,000 to $299,999 within 20 days of your account opening.
    • To earn $2,000, you’ll need to have a minimum deposit and minimum balance of $300,000 and above within 20 days of your account opening.
    • Maintain your balance for 60 consecutive calendar days after the 21st day from account opening
    • If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.

    When you’ll receive the money: The bonus will be paid within 30 days after you successfully complete all required activities

    Citi Priority


    Annual Percentage Yield (APY)


    N/A


    Minimum Deposit Amount


    None


    Annual Percentage Yield (APY)


    N/A


    Minimum Deposit Amount


    None

    More Information

    • Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
    • No Citi fees at non-Citi ATMs
    • $30 monthly service fee waived when you maintain a combined average monthly balance of $30,000 in eligible linked deposit, retirement and investment accounts
    • 0.00% Annual Percentage Yield

    Bonus amount: cash bonus of $200, $500, $1,000, $1,500, or $2,000 when you maintain a minimum eligible balance and complete required activities

    Expiration date: January 9, 2023

    Who qualifies: You qualify as long as you haven’t had a Citi checking account in the last 180 days and you’re 18 years old.

    What you need to do: 

    • Open a new checking account in the Citi Priority Account Package by January 9, 2023
    • To earn $200, you’ll need to have a minimum deposit and minimum balance of $10,000 to $29,999 within 20 days of your account opening.
    • To earn $500, you’ll need to have a minimum deposit and minimum balance of $30,000 to $74,999 within 20 days of your account opening.
    • To earn $1,000, you’ll need to have a minimum deposit and minimum balance of $75,000 to $199,999 within 20 days of your account opening.
    • To earn $1,500, you’ll need to have a minimum deposit and minimum balance of $200,000 to $299,999 within 20 days of your account opening.
    • To earn $2,000, you’ll need to have a minimum deposit and minimum balance of $300,000 and above within 20 days of your account opening.
    • Maintain your balance for 60 consecutive calendar days after the 21st day from account opening
    • If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.

    When you’ll receive the money: The bonus will be paid within 30 days after you successfully complete all required activities

    HSBC Premier Checking (Member FDIC)


    Annual Percentage Yield (APY)


    0.01% APY


    Minimum Deposit Amount


    $1


    Annual Percentage Yield (APY)


    0.01% APY


    Minimum Deposit Amount


    $1

    Pros

    • Unlimited out-of-network ATM fee reimbursements
    • No foreign transaction fees
    • Access to a Premier Savings Account
    • Preferential mortgage rates for Premier customers
    • $1 opening deposit, and $5 to earn interest

    Cons

    • $50 monthly maintenance fee if you don’t meet qualifications for waiving the fee
    • Low interest rate


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    More Information

    • Receive a $500 Welcome Deposit when you open your account by February 15, 2023 and complete qualifying activities
    • Free International account opening and portable credit history
    • No fees for Global Transfers between eligible HSBC accounts worldwide
    • Convert, hold and send money abroad with no transfer fees with our Global Money account
    • No foreign transaction fees using your Premier debit or credit card
    • No U.S. HSBC ATM fees worldwide

    Bonus amount: $500

    Expiration date: February 15, 2023

    Who qualifies: You qualify as long as you qualify for an HSBC Premier relationship. HSBC Premier clients have to keep $75,000 in bank/investment accounts, receive $5,000 in direct deposits each month, or take out a mortgage of at least $500,000.

    What you need to do: 

    When you’ll receive the money: The money will be deposited into your checking account eight weeks after you meet the requirements.

    Huntington Bank Platinum Perks Checking


    Annual Percentage Yield (APY)


    0.03% APY


    Minimum Deposit Amount


    None


    Annual Percentage Yield (APY)


    0.03% APY


    Minimum Deposit Amount


    None

    Pros

    • Earn interest on your money
    • Earn a higher rate on your Huntington savings or money market account when you have a Huntington Platinum Checking
    • Receive your paycheck up to two days early
    • No minimum opening deposit
    • No out-of-network ATM fees, and unlimited reimbursements
    • Monitor your credit score
    • $50 Safety Zone: No overdraft fees if you overdraw by $50 or less
    • 24-hour grace period to avoid overdraft fees
    • Free overdraft protection
    • Open a Premier Savings account with no opening deposit or monthly fee when you have a checking account
    • Relationship discounts on mortgages and equity lines of credit

    Cons

    • $25 monthly fee if you don’t qualify to have it waived
    • $15 overdraft fee

    More Information

    • Available to residents of Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, or Wisconsin
    • Access to over 1,100 branches and 1,600 ATMs
    • $25 monthly maintenance fee, or $0 when you have $25,000 total in all your Huntington accounts
    • $300 bonus when you open a new Huntington Platinum Perks Checking Account by October 7, 2022, deposit $25,000 in the first 60 days, and keep your account open for at least 90 days
    • Free overdraft protection that lets you connect your checking account to another Huntington account
    • Interest compounded and deposited monthly
    • FDIC insured

    Bonus amount: $300

    Expiration date: October 7, 2022

    Who qualifies: You must open a new Huntington Bank customer to qualify. 

    What you need to do: 

    When you’ll receive the money: The money will be deposited into your checking account within 14 days after you meet the requirements.

    TD Bank Beyond Checking Account


    Annual Percentage Yield (APY)


    0.01% APY


    Minimum Deposit Amount


    $0


    Annual Percentage Yield (APY)


    0.01% APY


    Minimum Deposit Amount


    $0

    Pros

    • No opening deposit
    • 2 overdraft fee reimbursements per year
    • Waive other TD Bank account monthly fees when you have a Beyond Checking Account
    • No out-of-network ATM fees
    • Reimburses out-of-network ATM fees charged by providers when your balance is at least $2,500

    Cons

    • $25 monthly service fee
    • $35 overdraft fee


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    More Information

    • Access to over 1,100 branch locations
    • Waive $25 monthly fee with $5,000 in monthly direct deposits, OR $2,500 minimum balance, OR total of $25,000 in all TD Bank accounts
    • No opening deposit or minimum account balance
    • Interest compounded daily
    • FDIC insured

    Bonus amount:  $300 bonus

    Expiration date: October 31, 2022

    Who qualifies: You must be a new TD Bank customer to qualify.

    What you need to do: 

    • Open a new TD Bank Beyond Checking Account 
    • Receive at least $2,500 in qualifying direct deposits within 60 days of opening the account
    • Keep your account open for at least 6 months

    When you’ll receive the money: The money will be deposited into your account around 180 days after opening the account.

    SoFi Checking and Savings


    Annual Percentage Yield (APY)


    1% to 2% APY


    Minimum Deposit Amount


    $0


    Annual Percentage Yield (APY)


    1% to 2% APY


    Minimum Deposit Amount


    $0

    Pros

    • High interest rate
    • Earn a higher interest rate if you set up direct deposit
    • No minimum opening deposit
    • No monthly service fees
    • No overdraft fees
    • Up to $300 bonus
    • Earn up to 15% cash back at local retailers if you use a SoFi debit card
    • No-fee overdraft coverage if you overdraw up to $50
    • Savings tools
    • Early direct deposit
    • Joint account available

    Cons

    • Declined purchase if you overdraw by more than $50
    • Doesn’t reimburse out-of-network ATM providers’ fees
    • May deposit cash at Green Dot locations but there’s a $4.95 fee


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    More Information

    • Free access to 50,000 Allpoint ATMs worldwide
    • Hybrid checking/savings account
    • Earn up to 15% cash back on local retailers when you use a SoFi debit card; Retailer information is available through online banking
    • Earn 2% APY with direct deposit
    • Earn 1% APY if you do not have direct deposit
    • Earn up to a $300 bonus by 9/30/2022: Receive a $50 bonus if you make a direct deposit between $1,000 and $1,999 in the first 30 days; receive a $100 bonus if you make a direct deposit between $2,000 and $4,999 in the first 30 days; receive a $300 bonus if you make a direct deposit above $5,000 in the first 30 days;
    • Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation
    • $4.95 fee each time you deposit cash at a Green Dot location
    • To get no-fee overdraft coverage you must have at least $1,000 in direct deposits
    • FDIC insured

    Bonus amount: $50, $100 or $300 bonus

    Expiration date: September 30, 2022

    Who qualifies: You must be a new SoFi Checking and Savings customer, or an existing SoFi Checking and Savings customer who hasn’t set up direct deposit.

    What you need to do: 

    • Open SoFi Checking and Savings 
    • To earn a $50 cash bonus, you must receive between $1,000 and $1,999 in qualifying direct deposits during the first 30 days of opening an account
    • To earn a $100 cash bonus, you must receive between $2,000 and $4,999 in qualifying direct deposits during the first 30 days of opening an account. 
    • To earn a $300 cash bonus, you must receive over $5,000 in qualifying direct deposits during the first 30 days of opening an account

    When you’ll receive the money: The money will be deposited into your account around 14 days after the first month of opening the account.

    Chase Total Checking®


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $0


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $0

    Pros

    • No required opening deposit
    • Over 4,700 branches
    • $200 sign-up bonus
    • Free overdraft protection when you link to savings for automatic transfers

    Cons

    • $12 monthly fee unless you meet direct deposit or minimum balance requirements
    • Fee for non-Chase ATMs
    • 3% foreign transaction fee
    • $34 overdraft and non-sufficient funds fees (no fee if you’re overdrawn by $50 or less at the end of the business day)


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    More Information

    • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
    • Access to 16,000 Chase ATMs and more than 4,700 branches
    • Chase Mobile® app – Manage your accounts, deposit checks, transfer money and more — all from your device.
    • Open your account online now
    • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
    • *With Chase Overdraft Assist℠, we won’t charge an Insufficient Funds 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 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.

    Bonus amount: $200

    Expiration date: October 19, 2022

    Who qualifies: New personal checking account customers.

    What you need to do:

    • Open a new Chase Total Checking® account with a coupon code
    • Set up direct deposit within 90 days after enrolling

    When you’ll receive the money: You’ll receive the $250 within 15 days.

    Huntington Bank Perks Checking


    Annual Percentage Yield (APY)


    0.02% APY


    Minimum Deposit Amount


    None


    Annual Percentage Yield (APY)


    0.02% APY


    Minimum Deposit Amount


    None

    Pros

    • Earn interest on your money
    • Earn a higher rate on your Huntington savings or money market account when you have a Huntington 5 Checking Account
    • No minimum opening deposit
    • Waives/reimburses up to 5 out-of-network ATM fees per month
    • Receive your paycheck up to two days early
    • Monitor your credit score
    • $50 Safety Zone: No overdraft fees if you overdraw by $50 or less
    • 24-hour grace period to avoid overdraft fees over $50
    • Free overdraft protection
    • Open a Premier Savings account with no opening deposit or monthly fee when you have a checking account

    Cons

    • $10 monthly service fee if you don’t qualify to have it waived
    • $3.50 out-of-network ATM fee
    • $15 overdraft fee

    More Information

    • Available to residents of Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, or Wisconsin
    • Access to over 1,100 branches and 1,600 ATMs
    • $200 bonus when you open a new Huntington Perks Checking Account by October 7, 2022, deposit $1,000 in the first 60 days, and keep your account open for at least 90 days
    • $10 monthly maintenance fee waived when you make $1,000 in total monthly deposits OR have $5,000 total in all your Huntington accounts
    • Free overdraft protection that lets you connect your checking account to another Huntington account
    • Interest compounded and paid monthly
    • FDIC insured

    Bonus amount: $200

    Expiration date: October 7, 2022

    Who qualifies: You must open a new Huntington Bank customer to qualify. 

    What you need to do: 

    • Open a new Huntington Perks Checking Account by October 7, 2022
    • Deposit at least $1,000 within 60 days of opening your account and maintain a $1,000 account balance for 90 days

    When you’ll receive the money: The money will be deposited into your checking account within 14 days after you meet the requirements.

    TD Bank Convenience Checking Account


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    None


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    None

    More Information

    • Access to 1,100 branch locations and over 2,600 ATMs
    • Waive $15 monthly fee with $100 daily balance
    • No opening deposit
    • FDIC insured

    Bonus amount: $200 bonus

    Expiration date: October 31, 2022

    Who qualifies: You must be a new TD Bank customer to qualify.

    What you need to do: 

    • Open a new TD Bank Convenience Checking Account 
    • Receive at least $500 in qualifying direct deposits within 60 days of opening the account
    • Keep your account open for at least 6 months

    When you’ll receive the money: The money will be deposited into your account around 180 days after opening the account.

    Wells Fargo Everyday Checking Account


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $25


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $25

    More Information

    • Access to over 7,200 branches and 13,000 ATMs
    • Waive $10 monthly fee when you have $500 in direct deposits per month, OR maintain minimum balance of $500, OR link account to a Wells Fargo Campus ATM or Campus Debit Card OR are 17-24 years old
    • $200 bonus if you open a new checking account with a bonus code and have $1,000 or more in qualifying direct deposits within the first 90 days of opening the account; Offer is available until September 30, 2022
    • FDIC insured

    Bonus amount: $200 bonus

    Expiration date: September 30, 2022

    Who qualifies: It is easy to qualify for and available in 37 US states. To qualify, you must be a new Wells Fargo personal checking account customer and use a bonus code to open an account.

    What you need to do: 

    • Open a new Wells Fargo Everyday Checking Account with a bonus code online or at a branch
    • Receive at least $1,000 in direct deposits 90 days within opening the account

    When you’ll receive the money: The money will be deposited into your account around 30 days after finishing the requirements. 

    CIT Bank Money Market Account


    Annual Percentage Yield (APY)


    1.40% APY


    Minimum Deposit Amount


    $100


    Annual Percentage Yield (APY)


    1.40% APY


    Minimum Deposit Amount


    $100

    Pros

    • Competitive APY
    • Free year of Amazon Prime subscription if you meet the requirements
    • Low opening deposit of $100
    • Connect your account to Zelle or PayPal
    • No monthly service fee

    Cons

    • No paper checks
    • No debit card
    • No way to access funds at an ATM
    • No physical locations


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    More Information

    • Connect to Zelle and PayPal
    • To get a free year of Amazon Prime you must use the promo code AMZN22 and deposit at least $15,000 during the first 15 days of opening an account; you must also maintain at least $15,000 in your account for 60 days after the initial funding period
    • Interest compounded daily, paid monthly
    • FDIC insured

    Bonus amount: A one-year Amazon Prime subscription worth $139

    Expiration date: Amazons Prime code expires on March, 23, 2024

    Who qualifies: Anyone who opens the CIT Bank Money Market Account after March 23, 2022 is eligible.

    What you need to do: 

    • Use the promo code “AMZN22”
    • Deposit at least $15,000 in the first 15 days of opening your account
    • Maintain a daily balance of at least $15,000 for 60 days

    When you’ll receive the money: You’ll get an email with your Amazon Prime subscription code around 60 days after finishing the requirements. You’ll have until March 23, 2024 to sign up for Amazon Prime.

    Axos Bank Rewards Checking


    Annual Percentage Yield (APY)


    Up to 1.25% APY


    Minimum Deposit Amount


    $50


    Annual Percentage Yield (APY)


    Up to 1.25% APY


    Minimum Deposit Amount


    $50

    More Information

    • $100 Promo with Code “Summer”
    • Up to 1.25% APY
    • Need to switch banks? Use ClickSWITCH to transfer direct deposit payments to Axos in 3 simple steps.
    • Zero monthly maintenance fees
    • Zero overdraft or NSF fees
    • Zero minimum monthly balance reqs
    • Unlimited domestic ATM fee reimbursements
    • Zero Minimum Balance Requirement

    Bonus amount: $100 bonus

    Expiration date: September 30, 2022

    Who qualifies: Anyone who opens Axos Bank Rewards Checking between July 5, 2022 and September 30, 2022

    What you need to do: 

    • Use the promo code “SUMMER”
    • Have qualifying direct deposit(s) of $1,500 or more within a single month during the first 3 months of opening your account

    When you’ll receive the money: The cash bonus will be deposited into your account within 30 days following the first 3 months of opening an account.

    Bank of America Advantage SafeBalance Banking® Account


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $100


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $100

    More Information

    • Access to over 4,200 branches and 16,000 ATMs
    • New Bank of America customers may receive a $100 bonus until 12/31/2022 when you open a Bank of America Advantage Banking account with a Bank of America associate who enrolls you in offer, and set up direct deposit for $1,000 or more within the first 90 days of opening the account
    • Waive $12 monthly service fee by doing one of the following: receive $250/month in direct deposits, keep $1,500 minimum daily balance, enroll in Preferred Rewards, or be a student under age 24
    • If you use Balance Connect and link your checking account to a backup account, there’s a $0 overdraft protection transfer fee
    • FDIC insured

    Bonus amount: $100 bonus

    Expiration date: December 31, 2022

    Who qualifies: It is easy to qualify for and available in 37 US states. To qualify, you be a new Bank of America personal checking account customer. 

    What you need to do: 

    • Open a Bank of America Advantage SafeBalance, Plus, or Relationship Banking Checking Account through the bank’s promotional page by December 31, 2022
    • Receive at least $1,000 in direct deposits within 90 days of opening the account

    When you’ll receive the money: The money will be deposited into your account around 60 days after finishing the requirements. 

    Chase Secure Banking℠


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $0


    Annual Percentage Yield (APY)


    None


    Minimum Deposit Amount


    $0

    Pros

    • No minimum opening deposit
    • No overdraft fees
    • Free money orders and cashier’s checks
    • Receive a $100 sign-up bonus when you open an account online or at a branch with your coupon and make 60 qualifying transactions within the first 60 days

    Cons

    • $4.95 monthly service fee, no option to waive
    • Does not include paper checks
    • No wire transfers to or from this account


    Read Our Review
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    More Information

    • New Chase checking customers enjoy $100 when you open a Chase Secure Banking℠ account with qualifying transactions. Open an account online or at any Chase branch.
    • No minimum deposit to open an account and get started.
    • No paper checks to track and no Chase fees on money orders or cashier’s checks.
    • Pay bills, cash checks and send money with Zelle® all for a $4.95 monthly service fee.
    • Say goodbye to overdraft fees with a Chase debit card that helps you stay within your balance.
    • Bank from virtually anywhere with access to 16,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase Online℠.
    • Get more for your money. Secure Banking customers told us they save an average of $50 a month on fees after opening their account.
    • Get reimbursed for unauthorized debit card transactions when reported promptly with Zero Liability Protection.

    Bonus amount: $100

    Expiration date: October 19, 2022

    Who qualifies: You must be a new checking account customer.

    What you need to do:

    When you’ll receive the money: You’ll get the money deposited into your account 15 days after you’ve completed 10 transactions. 

    Alliant High-Interest Checking Account


    Annual Percentage Yield (APY)


    0.25% APY


    Minimum Deposit Amount


    $0


    Annual Percentage Yield (APY)


    0.25% APY


    Minimum Deposit Amount


    $0

    More Information

    • Several ways to become a member; the easiest is to join Foster Care to Success (Alliant will cover your $5 membership fee)
    • Earn a cash bonus of $100 and Alliant will donate an additional $100 to the Alzheimer’s Association, American Cancer Society, or Easterseals; To qualify you meet the following requirements: 1) Open the High-Rate Checking account by October 7, 2022, with a minimum opening deposit of at least $100; 2) Sign up for online statements, make at least one electronic deposit per month, and maintain a $100 account balance through the end of February 2023
    • 80,000 free ATMs
    • Alliant does not charge overdraft fees; you can overdraw, but you will not pay a fee. You may also link checking to a savings account and select for funds to automatically transfer to cover overdrawn amount.
    • Interest compounded monthly
    • Federally insured by the NCUA

    Bonus amount: $100 cash bonus, and Alliant will donate $100 to the Alzheimer’s Association, American Cancer Society, or Easterseals

    Expiration date: October 7, 2022

    Who qualifies: You must open a new Alliant High-Interest Checking Account by October 7, 2022. Both new and existing Alliant customers qualify.

    What you need to do:

    • Open a Alliant High-Interest Checking Account with the code GOOD22 and make an initial deposit of $100 (You’ll automatically qualify to become an Alliant Credit Union Member
    • Sign up for online statements
    • Make at least one electronic deposit of any amount per month
    • Maintain at least $100 in your checking account through the end of February 2023

    When you’ll receive the money: You’ll get the money deposited into your account 4 to 6 weeks after you’ve completed 10 transactions. On March 31, 2023, Alliant Credit Union will donate to charities.

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    Frequently asked questions

    In short — it depends.

    Depending on your balance, a cash bonus could end up earning you more money than a high APY would. However, make sure you won’t pay fees that will cancel out the amount you earn as a bonus. For example, if you earn a sign-up bonus but have to pay a monthly fee and are regularly penalized for overdrawing, opening a bank account for the bonus may not be worth it.

    Banks offer bonuses to draw in new customers and to set themselves apart from competing banks that may offer similar interest rates, monthly fees, or opening deposit requirements.

    You typically can’t receive more than one bank account bonus with the same bank within a certain amount of time — usually between a few months and a couple years. But if you have the funds, you may be able to receive one bank account bonus from multiple banks.

    Yes, you do have to pay taxes on your bonus. When you file taxes for the year, you’ll report the sign-up bonus as income and pay income tax accordingly.

    Laura Grace Tarpley, CEPF

    Personal Finance Reviews Editor

    Laura Grace Tarpley (she/her) is a personal finance reviews editor at Insider. She edits articles about mortgage rates, refinance rates, lenders, bank accounts, wealth building, and borrowing and savings tips for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).
    She has written about personal finance for six years. Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at ltarpley@insider.com.
    See below for some of her work.
    Today’s 30-year mortgage rates
    Here are the best mortgage lenders right now
    The pros and cons of paying off your mortgage early
    The best online high-yield savings accounts
    Chase checking accounts: Compare all 5 options
    Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »


    Sophia Acevedo, CEPF

    Junior Banking Reporter

    Sophia Acevedo is a junior banking reporter at Insider who covers banking and savings for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).
    She joined Insider in July 2021 as a fellow for the Personal Finance Insider Reviews team.
    Before joining the Insider team, she was a freelancer based in Los Angeles and worked briefly in publishing. She also graduated from California State University Fullerton in 2020.
    You can reach out to her on Twitter at @sophieacvdo or send a quick email at sacevedo@insider.com.
    Read more about how Personal Finance Insider chooses, rates, and covers financial products and services>>


    Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.

    Please note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.

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