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We just opened a new checking account at Capital One 360 (formerly ING Direct). We not only got a $50 bonus, but we earn interest on our balance. This experience got me to wondering just how many great checking account promotions are available.
With a little bit of research, we came up with what I believe are the 20 best checking account deals and promotions you’ll find anywhere. We’ve divided the deals between those offering cash bonuses and those offering other rewards. If you know of others, please leave a comment below with the details.
Deal of the Day: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
Cash or APY Bonuses
1. Chase Total Checking® account – $200 Cash Bonus
You can earn a $200 bonus with a Chase Total Checking® account. To receive the $200 checking bonus: 1) Open a new Chase Total Checking account, which is subject to approval; 2) Deposit $25 or more at account opening; AND 3) Have your direct deposit made to this account within 60 days of account opening. Minimums to avoid monthly service charge are much lower with this account.
2. Chase Total Checking® + Chase SavingsSM – $350 Cash Bonus
If you are looking for both a checking and savings account, you can combine the above $200 cash bonus with a $100 deal on a Chase savings account. The terms of the $200 checking are the same as above. As for the savings account, you can earn a $150 bonus when you open a Chase SavingsSM account, deposit a total of $10,000 or more in new money within 10 business days, and maintain a $10,000 balance for 90 days. Learn more details here.
3. Everbank – First Year Bonus APY
First-time account holders at Everbank can get a 1.11% first year interest rate for deposits up to $250,000. A minimum opening balance of $5,000 is required.
4. FNBO Direct – 0.65%
With cash bonuses you usually get a very low interest rate. That’s why I included Everbank’s bonus APY above. With FNBO Direct you get 0.65%. While it can change as interest rates change (they’ll probably go up!), this is NOT a bonus rate. It’s FNBO’s current rate on its checking account. There are no monthly fees and no minimum balance requirements.
5. U.S. Bank – $100 Cash Back
Just open a U.S. Bank Package Checking Account, enroll in the S.T.A.R.T. program, and set up your account to automatically transfer money to savings. When you save $1,000, you get a $50 rewards card. If you keep that $1,000 for a year, you’ll get another $50 rewards card.
6. Bank of the West – Up to $300 Cash Back
Open an Easy Checking or Choice Interest Checking with Bank of the West and get up to $300 back. Bank of West offers three different checking accounts. The Premier Checking account offers a $300 bonus, but requires a $50,000 deposit, among other requirements. Signature and Easy checking accounts offer up to a $150 cash bonus. To receive a $100 bonus, you must have a direct deposit of at least $250 (two or more direct deposits that add up to $250 do not qualify) posted to the Checking account by 08/26/16. Direct deposit must be payroll, Social Security, pension or other government benefits. To receive the $50 bonus, you :must request, receive and use a new Bank of the West Debit Card linked to the new Checking account for 10 or more debit card purchases all of which must post to the account by the last business day of the month for each of the first two full calendar months immediately following the month in which the opening deposit posts to the account, for a total of 20 or more transactions. Each purchase must be $3 or more. ATM transactions are excluded. All required purchases must be posted by 10/31/16.”
Also, these accounts to come with a monthly maintenance charge, but it can be waived if you maintain a certain minimum balance, use the debit card a certain number of times, or use direct deposit.
7. Citibank Gold – $400 Bonus
While this offer requires a $15,000 deposit, the bonus is one of the highest available. Here’s what you need to know: (1) To qualify for a $400 cash bonus, open a new checking account in either The Citigold Account Package or The Citibank Account Package by 08/31/16; (2) Within 30 days after account opening, deposit $15,000 or more in new-to-Citibank funds into your new checking account or new or existing Citibank Savings Plus Account; and (3) A minimum balance of $15,000 is required to be maintained in the new checking account or new or existing Citibank Savings Plus Account for 30 consecutive calendar days from the date that the $15,000 deposit is made.
8. HomeStreet Bank – Up to $300 Cash Back
Open a checking account with HomeStreet Bank and you can earn money for different activities. For instance, you could get $100 for setting up direct deposit, another $80 for using your Visa Check Card ($2 per purchase up to $80), and another $75 for using online bill payment ($15 per payment up to $75). HomeStreet also puts a twist on cash bonuses. The bank will give you $25 for giving them your old checks and debit card from your old bank ($15 for your check card and $2 per pad for checks up to $10) and $20 for signing up to receive FREE e-statements.
9. Astoria Federal – $50 Direct Deposit Bonus
When you open an Astoria Federal checking account and activate direct deposit, you’ll get a $50 bonus deposited into your account.
10. Key Bank – $150 Cash Bonus
When you switch to Key Bank and open a checking account, you can get $150 cash back. Key Bank also offers a unique Relationship Rewards program where you can earn points by using your account or debit card. Note that this offer is available online only.
11. First Trade Bank – $100 Cash Bonus
Open a Virtual Checking account with First Trade Bank, and earn $50 for enrolling in direct deposit, $25 for depositing a check with the First Trade Deposit app, and another $25 for enrolling in bill pay.
12. Bank of America – Up to $250 Cash
For the first three months after enrollment, Bank of America will match 100% of your Keep the Change contributions, up to $250.
13. PNC – $150 Cash
Open a Virtual Wallet account with direct deposit and online bill pay, make one payment via PNC Online Bill Pay, and receive a $150 reward to your account. These accounts also pay interest.
14. Sovereign Bank – Up to $125 Cash
Open an online checking package by March 31st at Sovereign Bank and make five debit card purchases or one direct deposit by May 31st to qualify for a $50, $75, or $125 reward, depending on your checking package.
15. BankDirect – AAdvantage Miles
With the BankDirect Mileage Checking Account, you can earn American Airlines AAdvantage miles. Get an extra 1,000 mils for opening an account, 5,000 miles for initiating direct deposit, and 2,000 miles for using their bill pay service.
16. BBVA Compass Bank – $115
With NBA Checking from BBVA, you can earn a bonus of up to $125. When you pay a bill online with BBVA’s Bill Play, you receive a $100 NBAStore gift card. You can also receive a $10 iTunes Gift Card when you use your Visa Debit Card to make purchases in the Swipe for Songs promotion.
17. First Bank – iPod Touch or Kindle Fire
When you open a free checking account and sign up for direct deposit and online bill pay, you can get either an iPod Touch or a Kindle Fire.
18. Chase Premier Plus CheckingSM – $300 Cash Bonus
To get the $300 bonus: 1) Open a new Chase Premier Plus CheckingSM account, which is subject to approval; 2) Deposit $25 or more at account opening; AND 3) Have your direct deposit made to this account within 60 days of account opening.
If you still haven’t found what you’re looking for, check out our list of free checking account offers.