Many banks give you money as a way to incentivize you to open an account. For the most part, bank account bonuses are offered for checking accounts, but you can find a few savings bonuses (usually in the form of a boosted APY for a limited time).
But there’s a slight catch with bank account bonuses.
To earn a bank account bonus, be prepared to fulfill certain requirements to earn the welcome or signup bonus, such as setting up direct deposit or depositing a specific amount of money.
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New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Enroll in SoFi Plus between 9/18/25 and 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/sofi-plus SoFi Bank, N.A. Member FDIC.
Best bank account bonuses at a glance
Compare the best account bonuses for checking, savings and business accounts.
Bank account
Bonus amount
Expiration date
Requirements
Learn more
$50 or $300 bonus and up to 4.30% APY on savings for up to 6 months
January 31, 2026
Open a new SoFi Checking and Savings account by January 31, 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months.
What we like about the account
Hybrid account, no monthly fees, high APYs on Savings and Checking, and Vaults for sorting goals.
Open a new account, enroll in the coupon and set up direct deposits totaling $500 or more within 90 days of enrollment. Bonus is delivered within 15 days. Available to new Chase customers only.
What we like about the account
Simple checking account with no opening deposit requirements.
Open a new account online or with your coupon at a local branch. Complete 10 qualifying transactions within 60 days of coupon enrollment. Bonus delivered within 15 days of meeting requirements, available to new Chase customers only.
What we like about the account
Designed for students with a waiveable monthly fee for those enrolled.
Open a new account and make at least $4,000 in qualifying direct deposits within the first 90 days. If you apply online, you must use the Open Now links on the site that supply a required promo code. If you apply by phone, you must submit all account opening documents and signed documents by January 28, 2026. Bonuses are paid out approximately 100 days after account opening. New BMO customers only.
What we like about the account
No monthly fees, overdraft protection by linking savings and a large ATM network.
Open a TD Beyond Checking account and add $2,500 or more in direct deposits within 60 days. The bonus is paid on or before 180 days after account opening. Available for new customers.
What we like about the account
No opening deposit requirements, ATM rebates and no foreign transaction fees.
Partnership with Alliant. Open an account and deposit at least $100 each month for 12 consecutive months. Apply online or call and mention the promo. Bonus delivered within four weeks. New Alliant members only.
What we like about the account
Encourages and rewards regular savings contributions, and high APY.
Open a new account and earn $300 for deposits ranging from $2,000 to $9,999, or you can earn $500 for deposits of $10,000 or more. Your deposit must be new money and made within 30 days of offer enrollment, and maintain at least $2,000 for 60 days to earn the $300 bonus, or maintain at least $10,000 for 60 days to earn $500 starting from the date of enrollment. Then, complete five qualifying transactions within 90 days of enrollment. Bonus delivered within 15 days after meeting the requirements. New Chase customers only.
What we like about the account
Unlimited electronic transactions, unlimited debit cards for employees, and no minimum opening deposit.
Open a new account and maintain a minimum average balance of $2,000 for the first three statement cycles, along with 20 qualifying PNC Bank Debit Card transactions within the same period. The bonus will be credited to your account within 90 days after meeting the requirements. New customers only.
What we like about the account
Ways to avoid the monthly fee, online bill pay, cashback offers and up to 150 transactions per month.
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Enroll in SoFi Plus between 9/18/25 and 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/sofi-plus SoFi Bank, N.A. Member FDIC.
Best referral bonuses at a glance
If you already have one of these accounts, you can refer friends or family to earn some extra cash.
Bank account
Bonus amount
Expiration date
Requirement
Learn more
Up to $100
N/A
Share a referral invite via email, text message, or social media apps. Once the person receives the invite link, applies your unique referral code, and makes qualifying Eligible Payroll Deposits of at least $200 within 45 days of opening the account, you and the referred friend each earn $100. Bonuses are delivered within 10 business days. There’s a $1,000 limit on referral bonuses you can earn in a calendar year.
What we like about the account
No monthly fees, savings pods to sort goals, a credit-building card option, and paycheck advances.
Earn $1 when a friend signs up for Step using your referral link. Send them an invite from your app, and you’ll both get rewarded once they use the unique code within 14 days of opening the account. After conditions are met, Step will issue the reward automatically and send the funds to your account and the referred person’s account.
What we like about the account
No monthly fee option available, credit-building, high savings bonus, cashback offers and investing.
Both you and a friend $100 when you refer a friend to sign up for a new Varo Bank account. Referrals will need to register their email using the unique referral link and then open a new Varo Bank account. The referred person must make qualifying purchases totaling at least $500 using the Varo Debit Card within 45 calendar days of opening the new account. Bonus delivered within four to seven business days. Five referrals within a calendar year. Sharing your link on third-party social media, blogs or other similar websites may cause you to lose eligibility.
What we like about the account
No monthly fees, optional savings with high rate, a credit-building card, early direct deposit and no foreign transaction fees.
Share the referral link with your friend. Once your friend signs up, uses the app for at least 30 calendar days and has paid their first monthly account service fee, the referral bonus will be credited to both of you. The referrer must be at least 18 years old and a new customer.
What we like about the account
Chore tracking, investing, various reload options and parent-led savings match.
Both you and the referral can earn an additional 0.25% APY bonus for three months on either the Marcus Online Savings account or CD. The referred person must not have owned a Marcus Online Savings Account or CD in the past 12 months.
What we like about the account
High rates across savings accounts, no monthly fees, same-day transfers and 24/7 customer support.
Log in online or on the GO2bank app to access the Refer-a-friend page and get the unique share link. Once a referred friend becomes a new GO2bank customer and receives a qualifying direct deposit of $200 or more within 45 days of account opening, you’ll both get $50 deposited into your accounts within 48 hours after qualifying funds are deposited. Limit up to $1,500 per calendar year through referrals.
What we like about the account
Near-instant mobile check deposits, cashback offers, high savings rates and waiveable monthly fee.
Referrers must download, print and complete a referral form to send to the referred person. The referred person can then take a referral form to a TD Bank branch to open any TD personal checking account and start the process of earning the $50 bonus for both the referrer and the referred. The referred person then needs to make at least $250 in qualifying direct deposits or 15 qualifying Visa debit card purchases within 60 days of opening the account. Once the offer criterion is met, the bonus will be credited to both accounts no later than 95 days from the new account opening date. Referring customers may receive up to 10 bonuses (up to $500) within a calendar year. The referred person must be a new customer.
What we like about the account
Large branch network, personal and business account options.
Finder’s banking experts analyze more than 200 accounts in the market to narrow down the best accounts with signup and referral bonuses. We consider the bonus value, the eligibility requirements, how many accounts are available under the same bonus and the account itself based on these criteria:
No requirements to open an additional account
Direct deposit requirements of no more than $2,000 within a 30-day period
We also look at the features of the account itself, such as:
$0 monthly fee or easy ways to void it, with the exception of prepaid cards
Nationwide availability
Low minimum opening deposits, depending on the type of account:
No, immediate bank account bonuses are almost never offered. Most banks have requirements you need to meet to earn a bonus, such as depositing a certain amount or setting up direct deposit. On top of that, most bank bonuses are delivered anywhere from 7 to 60 days after you’ve met the requirements, so they are not instant.
Are there signup bonuses with no deposit requirements?
It’s rare to find an instant signup bonus with no deposit requirements. Nearly all bank account bonuses require you to set up direct deposit or deposit a certain amount of cash after opening. A few banks claim to have instant signup bonuses that you’ll earn immediately after opening, but the reality is that there are really no “instant” bonuses, and most take a month or two to earn.
However, a few signup bonuses have easier requirements, such as Upgrade Rewards Checking and the Marcus Online Savings Account. With Upgrade, all you have to do to earn the $200 is make three debit card transactions, and Marcus’ bonus is a referral program that offers an APY boost without any deposit requirements.
Most bank account welcome bonuses or referral bonuses have some sort of requirements you’ll need to meet. Typically, bonuses are awarded within 30 to 90 days after you’ve met the requirements.
However, a great bonus offer doesn’t necessarily mean that bank account is best for you. Compare the best checking accounts and the best savings accounts to get the most bang for your buck.
Frequently asked questions
Is it worth opening a bank account for the bonus?
Sometimes, it can be, but make sure the account is worth your time in the long term. If the bonus comes with a bank account that has a high monthly fee, you’ll end up in the red eventually. Compare the best free checking accounts if you want to avoid monthly maintenance fees.
What bank gives you money for setting up direct deposit?
Banks like SoFi, Chase, Axos and BMO frequently offer bank account bonuses for setting up direct deposit. However, make sure you double-check the direct deposit amount requirements. For example, SoFi’s direct deposit bonus requires direct deposit of at least $1,000 within 25 days of opening your account to earn a $50 bonus, or $5,000 in direct deposit to earn up to $300 within 25 days of account opening.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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