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We have compiled a list of some of the best sign-up bonus offers and promotions from banks and banking apps in the US. We check and update this guide on a regular basis, and each offer has its own set of terms and conditions that apply.
Banks and banking apps offer sign-up deals to entice new customers. They’re happy to pay to acquire new customers because once an account is open they’re then able to offer other products to that new customer. It’s mutually beneficial, because customers get rewarded for trying (and sometimes continuing to use) a new app, while banks are able to increase their customer base.
Are there any catches to account bonuses?
Sometimes there will be some extra hoops to jump through to earn a bonus. For example, you may be required to deposit a certain amount of money in the account, set up direct deposit or make a number of qualifying transactions. Just make sure you’re aware of the eligibility criteria and be sure you can fulfill it.
When are signup bonuses delivered?
For the most part, a signup or account bonus is delivered to you within 30 to 90 days after you’ve met the requirements. Immediate signup bonuses are very rare, so plan on needing to keep a new account open for at least a month before you get a reward or bonus.
Will a reward impact my credit score?
No, bank account signup bonuses won’t impact your credit score. Accounts like checking and savings, and their histories, aren’t reported to the credit bureaus so no worries on that.
However, credit cards can impact your credit score. If you apply for a new credit card for a bonus, the act of applying for a credit card can temporarily impact your score, thanks to the hard credit check. If you’re approved, you’ll have a new line of credit on your file that you need to manage.