Unlock December 2024’s Top 21 Bank Account Bonuses & Promotions!
Looking to pocket a few hundred bucks just for opening a new bank account? You’re in luck! The world of banking is bursting with enticing offers, but navigating through them can feel overwhelming. Fear not—because we’ve done the heavy lifting for you!
Here at Money Savvy, our dedicated team sifts through countless bank deals every month to uncover the juiciest sign-up bonuses—some reaching an impressive $1,000 or more!
Ready to seize the opportunity? Dive into our curated list of the hottest bank promotions this month, along with the eligibility criteria to ensure you don’t miss out. Most of these offers are available to new customers across all 50 states, though a handful may have regional limitations.
Top Personal Checking Bonuses
SoFi Checking and Savings – Earn Up to $300!
Sign up for a new SoFi Checking and Savings account by December 31, 2024, and follow through with qualifying actions to score a cash bonus of up to $300.
To kick things off, set up a direct deposit from a qualifying payer. You’ll need at least one qualifying direct deposit along with a minimum of $1,000 in total deposits within a 25-day window to qualify.
The bonus structure is as follows:
- Get a $50 bonus with total direct deposits between $1,000 and $4,999.99.
- Claim a $300 bonus with direct deposits of $5,000 or more.
Students and young adults aged 17-23 can enjoy extra perks, including no monthly maintenance fees and no minimum balance requirements.
Disclaimer: This offer is for new SoFi users who have never set up direct deposits with SoFi. Refer to the terms for more details.
BMO Smart Advantage Checking – $300 Cash Bonus
Jump on BMO’s latest promotion by opening a new Smart Advantage Checking or Smart Money Checking account by February 3, 2025, and earn a $300 cash bonus.*
To qualify, simply receive at least $4,000 in qualifying direct deposits within the first 90 days.
- Enjoy unlimited transactions at over 40,000 in-network ATMs nationwide.
- Pay $0 in monthly maintenance fees with paperless statements.
- No minimum balance required.
Disclaimer: This offer is limited to one per customer and is not available to existing BMO personal checking customers or those who closed a personal checking account with BMO or Bank of the West within the last 12 months. Account openings can be done online or at any BMO branch. *Conditions apply.
PNC Virtual Wallet – Up to $400 Bonus
Unlock a bonus of up to $400 by opening a new PNC Virtual Wallet account by January 02, 2025, and completing qualifying activities.
Within 60 days of account opening, make direct deposits that meet the requirements to earn your bonus:
- Earn a $100 bonus with total direct deposits of $500 or more.
- Earn a $200 bonus with direct deposits totaling $2,000 or more if you choose the Performance Spend option.
- Earn a $400 bonus with direct deposits of $5,000 or more if you opt for the Performance Select account.
Your bonus will be credited within 60 to 90 days after fulfilling all conditions, but remember to keep your Virtual Wallet open to receive it.
This offer is valid in several states, including AL, AZ, CA, CO, and more. Certain conditions apply based on your location.
Truist One Checking – $400 Bonus
Score a $400 bonus from Truist Bank when you open a new One Checking account by April 30, 2025, and complete qualifying direct deposit actions.
Here’s what you need to do to cash in:
- Open a new Truist One Checking account online using the code AFL2425TR1400.
- Complete at least two qualifying direct deposits totaling $1,000 or more within 120 days of account opening.
The bonus will show up in your account within four weeks of verifying that you’ve met the requirements.
This offer applies to residents in specific states, so be sure to check if you qualify. Terms apply. Member FDIC.
TD Bank Beyond Checking℠ – $300 Bonus
Get a $300 bonus when you apply online for a TD Bank Beyond Checking℠ account by January 1, 2025, and complete qualifying direct deposits.
To earn this bonus, you need to receive direct deposits of $2,500 or more within 60 days.
To avoid monthly fees, you can:
- Receive direct deposits of $5,000 or more.
- Maintain a minimum daily balance of $2,500.
- Keep a combined balance of $25,000 across your eligible TD accounts.
This offer is available to residents in selected states only, and you must be a U.S. resident and a new customer to apply online.
Chase Total Checking® – Easy $300 Bonus!
Jumpstart your banking journey with a new Chase Total Checking® account and snag an easy $300 bonus!
Simply open your account by January 22, 2025, and set up a qualifying direct deposit within 90 days of enrolling. Your $300 bonus will be credited within 15 business days!
Waive the $12 monthly fee by meeting any of the following criteria each month:
- Have electronic deposits of $500 or more.
- Maintain a daily balance of $1,500+.
- Keep an average balance of $5,000 across all linked Chase accounts.
- Utilize qualifying checking services totaling at least $25.
Disclaimer: Offer available online in all states except AK, HI, and PR.
U.S. Bank Smartly® Checking – Up to $450 Bonus
Earn up to $450! Open a new U.S. Bank Smartly® Checking account before December 30, 2024.
Complete the following steps within the first 90 days:
- $250 bonus with direct deposits between $2,000 and $4,999.99.
- $350 bonus with direct deposits between $5,000 and $7,999.99.
- $450 bonus with direct deposits of $8,000 or more.
Bank of America Bonus Offer – $300!
Earn a $300 bonus by opening a new eligible Bank of America Advantage Banking account and completing the necessary activities. Time to get busy!
Simply set up and receive qualifying direct deposits totaling $2,000 or more within 90 days of opening your account. The bonus will be credited within 60 days of meeting these requirements.
This offer is available online only. Conditions apply. Not valid for accounts opened by current or previous Bank of America personal checking account owners within the last year.
Fifth Third Momentum® Checking – $300 Bonus
Unlock a $300 cash bonus when you open a Fifth Third Momentum checking account and make a total of $500 in direct deposits within the first 90 days.
It’s simple—no hidden fees and no minimum balance requirements! Plus, you can access your direct deposits up to two days early.
Act fast—Fifth Third often pulls offers early or makes updates to them!
TD Complete Checking – $200 Bonus
If the requirements for the TD Beyond Checking bonus seem a bit steep, TD Bank offers a simpler $200 bonus for new customers opening a TD Complete Checking account.
Simply earn a $200 cash bonus by applying online and completing direct deposits of $500 or more within 60 days.
To waive the monthly fees, complete at least one of the following:
- Have $500 or more in direct deposits within a statement cycle.
- Keep a minimum daily balance of $500.
- Maintain a combined balance of $5,000 across linked accounts.
Available to residents in select states. Must be a U.S. resident and a new customer to apply online.
Citi® Enhanced Deposits – $325 Bonus
Open a Citi checking account by January 7, 2025, and complete qualifying activities to receive a $325 cash bonus. It’s straightforward, making it a top contender!
To earn the bonus, follow these steps:
- Open a new Citi checking account with Enhanced Direct Deposits.
- Make at least two Enhanced Direct Deposits totaling at least $3,000 combined within 90 days.
Your cash bonus will be credited to your checking account 30 days after you meet the requirements, and any monthly service fee will be waived for maintaining $250+ in Enhanced Direct Deposits.
KeyBank – $300 Cash Bonus
Open a Key Smart Checking® account and complete the following to earn a $300 cash bonus:
- Open a new Key Smart Checking® account before December 13, 2024.
- Make an opening deposit of $10 and one eligible direct deposit of at least $1,000 within the first 60 days.
Your cash bonus will be deposited within 60 days of meeting the requirements. Remember, the account must remain open at the time of payment.
Available only to residents in specific states. KeyBank, Member FDIC.
Best Savings Account Bonuses
TD Bank Savings – $200 Bonus
TD Bank is back with a savings bonus that pairs well with one of their checking products. Complete the following:
- Open a new TD Bank Savings account by December 31, 2024.
- Deposit $20,000 within 20 days.
- Maintain that balance for 90 days.
Your bonus will be credited on or before 180 days after opening the account.
Best Business Checking Bonuses
Chase Business Complete Checking® – $300 Bonus
Small-business owners (including sole proprietors) can take advantage of an enticing offer for a popular business checking account!
New Chase Business Complete Checking® customers can earn a $300 bonus by opening an account online or in person by January 16, 2025, and completing qualifying activities.
To qualify for this deal:
- Use the special link to obtain a coupon and open a new Chase Business Complete Checking® account.
- Deposit a minimum of $2,000 in new funds within 30 days of enrollment.
- Maintain that balance for at least 60 days.
- Complete a minimum of five qualifying transactions (like electronic deposits and debit card purchases) within 90 days.
After fulfilling all requirements, expect your bonus to hit your account within 15 business days.
Disclaimer: This offer is accessible online nationwide, excluding residents of AK, HI, and PR.
U.S. Bank Business Checking – Up to $900 Bonus!
From now until January 15, 2025, U.S. Bank presents an opportunity to earn a whopping bonus of up to $900 when you open an eligible new business checking account online with promo code Q4AFL24 and complete qualifying activities.
Eligible accounts include Silver Business Checking Package, Gold Business Checking Package, and Platinum Business Checking Package.
Follow these steps to earn a $400 bonus:
- Open a new U.S. Bank Silver Business Checking or Business Essentials account.
- Make deposits of at least $5,000 within 30 days and maintain that balance until the 60th day post-opening.
For a $900 bonus, complete the following:
- Open a U.S. Bank Platinum Business Checking account and deposit $30,000 within 30 days, maintaining that balance until the 60th day.
Deposit products are offered by U.S. Bank National Association. Member FDIC.
Bank of America Business Bonus Offer – $200!
Earn a $200 bonus when you complete the required activities with a new eligible Bank of America Business Advantage Banking account. Curious about the details?
To qualify, deposit $5,000 or more in New Money directly into your new business account within 30 days of opening. Keep an average balance of $5,000 during the Maintenance Period, which begins 31 days after account opening and lasts 90 days.
Important: This online-only offer must be opened through the Bank of America promotional page. It expires on December 31, 2024.
Terms and conditions apply. Not eligible if you were an owner or signer on a Bank of America Business Advantage checking account within the last year.
Axos Bank Business Interest Checking – Up to $400 Bonus
Through January 02, 2025, Axos Bank is offering the chance to earn up to $400 in bonuses when you open an eligible new business checking account online with promo code NEW400.
Follow these steps to earn the bonus:
- Accumulate $75 for each statement cycle your average daily balance is between $25,000 and $49,999.99 (up to $300 total).
- Earn $100 for each statement cycle your average daily balance is at least $50,000 (up to $400 total).
- Complete 10 purchases of at least $3 with your Small Business Checking Visa® Debit Card and set up BillPay on your account.
Your account must remain open for at least 180 days to avoid a $50 early closing fee. Additional terms may apply.
Best High Net Worth Bonuses
Chase Private Client Checking℠ – Up to $3,000 Bonus!
For a limited time, open a new Chase Private Client Checking account and earn a bonus of up to $3,000 by completing qualifying activities.
To earn this generous bonus, you must adhere to the following:
- Meet with a Chase Private Banker at a Chase branch to open your account by January 22, 2025.
- Transfer an eligible amount of new money or securities to your checking, savings, or investment accounts within 45 days.
- Maintain that balance for at least 90 days from coupon enrollment.
Bonus amounts vary based on the amount you transfer. Deposit at least $150,000 in new money or securities to earn a minimum bonus of $1,000. Here’s how the tiers breakdown:
- Earn $1,000 for $150,000 in new funds.
- Earn $2,000 for $250,000 in new funds.
- Earn $3,000 for $500,000 in new funds.
Your bonus will be credited within 40 days of completing these activities.
Chase Private Client has no monthly service fee when you maintain an average balance of $150,000 or more across linked qualifying accounts; otherwise, a $35 fee applies.
Best Student Checking Bonuses
Chase College Checking℠ – $100 Bonus!
Chase College Checking is the premier choice for students aged 17 to 24, especially with a fantastic bonus opportunity for new customers.
For a limited time, open a new account by January 22, 2025, and you could qualify for a $100 bonus after fulfilling qualifying activities. Here’s how:
- Open a new Chase College Checking account through the link below.
- Complete 10 qualifying transactions within 60 days.
- Your bonus will be credited to your new account within 15 days of meeting the requirements.
Disclaimer: Terms apply. Refer to the offer page for more information.
Why Do Banks Offer Sign-Up Bonuses?
Curious about why banks give away ‘free money’? The answer is simple: marketing!
Consider which bank account you’d choose: one without a sign-up bonus or another that hands you a couple of hundred bucks just for opening an account? Banks offer these bonuses to attract new customers, banking on the idea that once you’re on board, you’ll explore their other services, increasing their profits.
How to Qualify for a Bank Bonus
Each bank has its own set of requirements to qualify for a bonus. The key is to read the fine print carefully. Most banks will ask for more than just opening an account—like a minimum number of transactions or direct deposit amounts.
Be sure you can meet all requirements before jumping into a bank bonus, and pay close attention to deadlines. If, for instance, a bank requires a minimum balance for the bonus, they typically specify how long you need to keep that balance.
How Are Bank Bonuses Taxed?
Unlike credit card bonuses, bank bonuses are subject to taxes. The IRS treats them as interest earned, so you’ll need to report them on your taxes.
No need to stress about remembering to claim your bonus, as your bank will send you a 1099-INT statement with the bonus included, ensuring you don’t forget.
How Many Bank Accounts Should You Have?
Technically, you can have as many bank accounts as you’d like, but it’s a good practice to maintain at least one checking and one savings account.
Your savings account should ideally hold your emergency funds or savings goals, keeping them separate from daily spending. However, avoid opening too many accounts or choosing accounts that involve monthly maintenance fees, which can lead to unnecessary fees if you can’t maintain minimum balances.
Are Bank Bonuses Worth It?
Absolutely! Bank bonuses can be worth your while as long as you don’t open accounts that will incur monthly maintenance fees. Just ensure you can meet the requirements to earn the bonus and avoid those fees.
Final Thoughts
Take your pick from these fantastic bank promotions—because you’ve earned it! But remember, bank account bonuses shouldn’t be the sole factor in your decision-making.
When choosing a bank, focus on finding one that aligns with your needs—be it competitive interest rates, minimal fees, overdraft protection, enticing cash-back credit cards, or robust online banking features.
While bank promotions are enticing, securing lasting, beneficial features is a bonus in itself. You deserve a bank that goes the extra mile to earn your trust every day.
Editorial Disclosure: This content is not provided or commissioned by any bank advertiser. The opinions expressed here are solely those of the author and have not been reviewed, approved, or endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
