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Best bank account bonus offers for March 2023

Explore these bank promotions offering cash incentives just for opening up a new checking or savings account.

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By

Steven Dashiell

Updated

Fact checked

Checking and savings account bonus offers are one-time offers that can incentivize you to open a specific account. Once that bonus is gone though, you’re stuck with the base value of the checking or savings account. Here are the best available bank account bonuses from banks that will continue serving you well after you nab that bonus.

Quick look at the best bank bonuses

AccountType of accountBonus totalExpirationMore info
US Bank Smartly CheckingCheckingUp to $600April 11 2023 Go to site
on US Bank's secure site
BMO Harris Smart Advantage™ AccountCheckingUp to $200May 12 2023 Go to site
on BMO's secure site
Axos Bank Rewards CheckingChecking$100March 31 2023 Go to site
on Axos Bank's secure site
Axos Bank Business Interest CheckingBusiness Checking$100 to $200June 01 2023 Go to site
on Axos Bank's secure site
Axos Bank Basic Business CheckingBusiness Checking$100 to $200June 01 2023 Go to site
on Axos Bank's secure site
Chase Business Complete CheckingBusiness Checking$300May 18 2023 Go to site
on Chase's secure site
Live Oak Bank Small Business Checking AccountBusiness Checking$150March 31 2023 Go to site
on Live Oak Bank's secure site
Axos Bank Business SavingsBusiness Savings$100 to $200June 01 2023 Go to site
on Axos Bank's secure site
Axos Bank Business Money MarketBusiness Savings$100 to $200June 01 2023 Go to site
on Axos Bank's secure site
Chase Total CheckingChecking$200 bonusApril 19 2023 Go to site
on Chase's secure site
Chase College CheckingChecking$100 bonusApril 19 2023 Go to site
on Chase's secure site
SoFi CheckingChecking$50 or $250March 31 2023Read Review
TD Beyond CheckingChecking$300October 31 2023Read Review
Suze Orman Ultimate Opportunity SavingsSavings$100December 31 2023Read Review
PNC Business CheckingBusiness Checking$200March 31 2023Read Review
Laurel Road Loyalty CheckingChecking$200June 30 2023

Best checking account bonuses

Go to site
on US Bank's secure site

US Bank Smartly Checking: Up to $600 bonus

  • Bonus amount: Up to $600
  • Expiration date: April 11, 2023
  • Minimum deposit: $25
  • Monthly fee: $6.95
How to get it

Earn up to $600 when you open a new U.S. Bank Smartly checking account and complete two or more direct deposits.

  • Earn $200 when your direct deposits total $3,000 to $5,999.99
  • Earn $400 when your direct deposits total $6,000 to $9,999.99
  • Earn $600 when your direct deposits total $10,000 or more
  • on the checking account when you enroll in the U.S. Bank mobile app or online banking and complete two or more deposits totaling $5,000 or more.

Offer valid through April 11, 2023.

Eligibility

Not available to customers with an existing US Bank consumer checking account, customers who had a US Bank consumer checking account within the last two years or customers that earned other US Bank bonus offers within the last two years.

Go to site
on BMO's secure site

BMO Harris Smart Advantage™ Account: Up to $200 bonus

  • Bonus amount: Up to $200
  • Expiration date: May 12, 2023
  • Minimum deposit: $25
  • Monthly fee: $0
How to get it

Open a Smart Advantage checking account and deposit at least $4,000 within 90 days of account opening.

Eligibility

First-time BMO customers only.
Earn $25 each month for up to the first 12 months when you log in to your account and receive a direct deposit of at least $1 to your new account each month.

Go to site
on Axos Bank's secure site

Axos Bank Rewards Checking: $100 bonus

  • Bonus amount: $100
  • Expiration date: March 31, 2023
  • Minimum deposit: $50
  • Monthly fee: $0
How to get it

Must sign up with the promotional code RC100 and have qualifying direct deposits totaling at least $1,500 within a single calendar month during the first three months your account is open.

Eligibility

Customers may only receive one Axos checking account offer per year. Existing Axos checking customers or those who had an open Axos checking account in the last year from application may be disqualified from the offer.

Go to site
on Chase's secure site

Chase Checking: $200 bonus

  • Bonus amount: $200
  • Expiration date: April 19, 2023
  • Minimum deposit: $0
  • Monthly fee: $12
How to get it

Open a new Chase Total Checking account by the expiration date, enroll in the coupon and set up direct deposit within 90 days of enrolling.

Eligibility

New Chase customers only. Those who aren’t eligible include existing Chase checking customers, those who closed their accounts within 90 days or closed with a negative balance within the last three years. You can receive only one new checking account-related bonus every two years from the last enrollment date and only one bonus per account.

Go to site
on Chase's secure site

Chase College Checking: $100 bonus

  • Bonus amount: $100
  • Expiration date: April 19, 2023
  • Minimum deposit: $0
  • Monthly fee: $6 (Can be waived)
How to get it

Open a new Chase College Checking account online or with your coupon at a local branch. Complete 10 qualifying transactions within 60 days of coupon enrollment.

Eligibility

New Chase customers only. Not available to customers who have closed their accounts within 90 days or closed with a negative balance within the last three years.

7346959d-34c9-495a-bb4f-81f6b9120ede logoRead Review

SoFi Checking: $50 or $250 bonus

  • Bonus amount: $50 or $250
  • Expiration date: March 31, 2023
  • Minimum deposit: $0
  • Monthly fee: $0
How to get it

Open a Sofi account and deposit at least $1,000 within 25 days of opening your account to earn a $50 bonus. Get $250 when you deposit $5,000 or more in the same time period.

Eligibility

All new members who open an account during the promotional period.

f511d5da-51b9-47a6-80d2-729c4d489471 logoRead Review

TD Beyond Checking: $300 bonus

  • Bonus amount: $300
  • Expiration date: 31 October 2023
  • Minimum deposit: $0
  • Monthly fee: $25 (Can be waived)
How to get it

Open a TD Beyond Checking account and add $2,500 in direct deposits or more within 60 days.

Eligibility

New personal checking customers who have not received a checking account bonus from TD Bank and who don’t have an existing or prior personal TD Bank checking account within the past 12 months. Customers will need to open their account online via this promotion page and complete the required qualifying criteria.

a2052106-7836-46b3-bffd-916a88f57ebc logo

Laurel Road Loyalty Checking: $200 bonus

  • Bonus amount: $200
  • Expiration date: 30 June 2023
  • Minimum deposit: $0
  • Monthly fee: $0
How to get it

Open a Laurel Road Loyalty Checking account and make a qualifying direct deposit via an ACH totaling at least $2,500 within the first 60 days of account opening.

Eligibility

Limit one bonus per qualifying account and individual. Not eligible if you owned a Laurel Road account within the prior 24 months.

Best savings account bonuses

cae71ba3-7a51-43e1-b2e8-cd0450570d29 logoRead Review

Suze Orman Ultimate Opportunity Savings: $100

  • Bonus amount: $100
  • Expiration date: 31 December 2023
  • APY: 2.2% APY
  • Minimum deposit: $0
How to get it

Open an account and deposit at least $100 a month for 12 months. After 12 consecutive months you’ll receive your bonus

Eligibility

New Alliant members only.

Best business checking account bonuses

Go to site
on Axos Bank's secure site

Axos Bank Business Interest Checking: $100 to $200 bonus

  • Bonus amount: $100 to $200
  • Expiration date: 01 June 2023
  • Monthly fee: $10
  • Minimum deposit: $100
How to get it

If you’re incorporated after June 1, 2020, you’ll get $200 added to your new account. Must maintain a daily balance of at least $2,500 for 60 days. Must apply with the promo code NEWBIZ200. If you’re not a new business, use promo code NEWAXOSBIZ for a $100 bonus.

Eligibility

Axos Bank may grant just one bonus per account per year.

Go to site
on Axos Bank's secure site

Axos Bank Basic Business Checking: $100 to $200 bonus

  • Bonus amount: $100 to $200
  • Expiration date: June 01, 2023
  • Monthly fee: $0
  • Minimum deposit: $0
How to get it

If you’re incorporated after June 1, 2020, you’ll get $200 added to your new account. Must maintain a daily balance of at least $2,500 for 60 days. Must apply with the promo code NEWBIZ200. If you’re not a new business, use promo code NEWAXOSBIZ for a $100 bonus. Axos Bank may grant just one bonus per account per year.

Eligibility

New and older businesses eligible.

Go to site
on Chase's secure site

Chase Business Complete Checking: $300 bonus

  • Bonus amount: $300
  • Expiration date: May 18, 2023
  • Monthly fee: $15 (Can be waived)
  • Minimum deposit: $0
How to get it

Open a new account and deposit at least $2,000 in new money within 30 days of offer enrollment. Maintain at least $2,000 for 60 days from enrollment.

Eligibility

New Chase customers only. Not available to customers who have closed their accounts within 90 days or closed with a negative balance within the last three years.
Make 5 qualifying transactions within 90 days of offer enrollment. Your bonus will be deposited within 15 days.

Go to site
on Live Oak Bank's secure site

Live Oak Bank Small Business Checking Account: $150 bonus

  • Bonus amount: $150
  • Expiration date: 31 March 2023
  • Minimum deposit: $100
  • Monthly fee: $0
How to get it

Open a new Live Oak Bank business checking account and deposit at least $2,000 within 90 days of opening. You must also make 20 qualified transactions within 90 days of opening your account.

37fb59b8-56de-4600-bf2e-2b102a9129c9 logoRead Review

PNC Business Checking: $200 bonus

  • Bonus amount: $200
  • Expiration date: 31 March 2023
  • Minimum deposit: $100
  • Monthly fee: $10 (Can be waived)
How to get it

Open a new qualifying account and maintain a minimum average balance of $5,000 for the first three statement cycles, along with 20 qualifying PNC Bank Debit Card transactions within the first three statement cycles.

Eligibility

Must be a business with an annual revenue with less than $5 million.

Best business savings account bonuses

Go to site
on Axos Bank's secure site

Axos Bank Business Savings: $200

  • Bonus amount: $100 to $200
  • Expiration date: 01 June 2023
  • APY: 0.2% APY
  • Minimum deposit: $1,000
How to get it

If you’re incorporated after June 1, 2020, you’ll get $200 added to your new account. Must maintain a daily balance of at least $2,500 for 60 days. Must apply with the promo code NEWBIZ200. If you’re not a new business, use promo code NEWAXOSBIZ for a $100 bonus. Axos Bank may grant just one bonus per account per year.

Eligibility

New and old businesses are eligible.

Go to site
on Axos Bank's secure site

Axos Bank Business Money Market: $200

  • Bonus amount: $100 to $200
  • Expiration date: 01 June 2023
  • APY: 0.2% APY
  • Minimum deposit: $1,000
How to get it

If you’re incorporated after June 1, 2020, you’ll get $200 added to your new account. Must maintain a daily balance of at least $2,500 for 60 days. Must apply with the promo code NEWBIZ200. If you’re not a new business, use promo code NEWAXOSBIZ for a $100 bonus. Axos Bank may grant just one bonus per account per year.

Eligibility

New and old businesses are eligible.

Methodology

When choosing the best bank bonuses, we look at the signup bonus value and how difficult it is to meet the eligibility requirements. For example, we consider bonuses that:

  • Don’t require opening an additional account. For example, we wouldn’t consider a bonus for a checking account that would require new customers to also open a CD or savings account.
  • Require direct deposit of no more than $2,000 for a 30-day period. For example, we accept accounts such as BMO Smart which give you 90 days to meet a $4,000 direct deposit requirement.

We also look at the features of the account itself, such as:

  • Accounts with no monthly fee and ones that offer a simple and easily achievable way to waive it.
  • Accounts available in all 50 states.
  • Low minimum opening deposits, depending on the type of account:
    • For checking accounts, we consider deposits under $100.
    • For savings accounts, we consider deposits under $1,000.

For business checking and savings accounts we consider minimum deposit requirements above $1,000, as businesses are likelier to have and need to store this level of funds.

We compare the accounts that pass these cut off requirements against one another within each category: checking, business checking, savings and business savings. The accounts with the highest bonuses that are simple to obtain and have few opening requirements and fees make our best list.

How to choose the best bank account bonus

When combing through bank account promotions, dig beyond the surface and look at the actual account details. Because once the introductory offer expires, you don’t want to be stuck with an account you don’t like. Here are some factors to consider:

  • Bonus requirements. The best bonuses typically have deposit requirements of at least $10,000. You may also need to keep your money in your account for a certain amount of time or set up qualifying direct deposits totaling $500 or more. Make sure you can easily meet these requirements before you open an account.
  • High APY. If it’s a savings bonus, look for one that’s attached to an account with a high APY without major balance requirements. Savings accounts are designed for long-term value after all, and your bonus is a one-time thing.
  • Low minimum opening balance. Check to see how much money you need to open the account — and if there’s a minimum ongoing balance or direct deposit that needs to be maintained.
  • Little or no fees. Some banks have a monthly fee or will charge you if your account balance dips too low. Look for a free account, especially if you can’t keep a high minimum balance.

Is a bank bonus offer worth it?

Yes, provided you can easily meet the requirements and you’re happy with the bank’s other features. It’s best to think of a bank bonus offer as frosting on the cake rather than the sole reason to open a particular bank account. If the requirements are too steep to earn the bonus or if you’re lukewarm on the bank’s other features, it’s best to look elsewhere.

Pros and cons of bank promotions

Like any promotional offer, there are advantages as well as potential drawbacks to a bonus bank offer.

Benefits

  • Motivation to save. Receiving a signup bonus could be the motivation you needed to open an account and start saving.
  • Could get more interest. The boost in interest offered as an introductory rate is a good incentive to put as much as you can into a savings account in the first few months.

What to watch out for

  • Might be a substandard account. While the bonus offer might be enticing, it’s a short-term perk. Consider all aspects of the account, including the fine print, when evaluating whether to sign up.
  • You don’t usually get signup bonuses right away. Many banks require you to have your account open for a specified period of time before they give you your signup bonus. This prevents people from opening several accounts in one day just for the cash and then closing them the next day.
  • Bonuses are taxable. The IRS considers checking account bonuses as taxable income. This reduces the amount of money you get to keep and can complicate things when tax-time rolls around.

How do bank account bonus offers work?

Banks attract new customers by offering signup bonuses for checking and savings accounts when you open them online and meet qualifying activities, such as setting up direct deposit or transferring a minimum amount of money into the account by a certain date. The promotion is deposited into your account typically within 90 days.

Types of bank offers

  1. Signup cash bonus. This is the most common type of cash bonus offer where new customers are required to complete a list of requirements within a specified time.
  2. Referral bonus. These bonuses grant cash to your account when you refer a friend to a bank and they successfully open it.
  3. Free trial bonus. Some bank accounts that charge a monthly fee may offer an extended free trial as a signup bonus to new customers.
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Compare other welcome bonus offers

AccountType of accountBonus totalExpirationMore info
Chase Secure BankingChecking$10019 April 2023 Go to site
on Chase's secure site
BMO Harris Premier™ AccountChecking$35012 May 2023 Go to site
on BMO's secure site
Live Oak Bank Business Savings accountBusiness Savings$30031 March 2023 Go to site
on Live Oak Bank's secure site
TD Beyond CheckingChecking$30031 October 2023Read Review
TD Convenience CheckingChecking$20031 October 2023Read Review
Citibank Account PackageCheckingUp to $200004 April 2023Read Review
TD Bank Simple SavingsSavings$20031 October 2023Read Review
Huntington Business Checking 100Business Checking$10007 May 2023Read Review
Huntington Unlimited Business CheckingBusiness Checking$40007 May 2023Read Review
Huntington Unlimited Plus Business CheckingBusiness Checking$1,00007 May 2023Read Review
Axos Bank Business Premium SavingsBusiness Checking$20031 March 2023Read Review

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