Earn Up To $400 With Online Checking
Bank promotions generally consist of cash bonuses when you open a new checking or savings account. To qualify for this one-time perk, you’ll likely have to set up direct deposit with the bank and keep the account open for at least a few months. We've rounded up some great options for you below. Check out the details to see which one is the right fit for you.
Nerdy tip: to get the most from your checking account, you need low fees, good customer support and free ATMs nearby. If you earn interest on your cash, even better.
Bank promotions generally consist of cash bonuses when you open a new checking or savings account. To qualify for this one-time perk, you’ll likely have to set up direct deposit with the bank and keep the account open for at least a few months. We've rounded up some great options for you below. Check out the details to see which one is the right fit for you.
Nerdy tip: to get the most from your checking account, you need low fees, good customer support and free ATMs nearby. If you earn interest on your cash, even better.
| Bank/institution | NerdWallet rating | Monthly fee | APY | Bonus | Learn more |
|---|---|---|---|---|---|
5.0/5 | $0 | 0.50% With $0 min. balance for APY | $300 Earn up to $300 with direct deposit. Terms apply. | Learn moreat SoFi Bank, N.A., Member FDIC | |
4.0/5 | $6.95 Multiple ways to waive monthly fee | N/A | $400 Requirements to qualify | Learn moreat U.S. Bank, Member FDIC | |
4.8/5 | $0 | 0.10% With $0 min. balance for APY | $250 Earn up to $250 with 360 Checking. Terms Apply. | Learn moreat Capital One, Member FDIC | |
4.8/5 | $0 | 0.25% With $0 min. balance for APY | N/A | Learn moreat Alliant Credit Union, Federally insured by NCUA | |
5.0/5 | $0 | N/A | $360 Up to $360 per year. See website for details. | Learn moreat Discover® Bank, Member FDIC | |
4.6/5 | $12.00 Waived with direct deposit or $1,500 minimum balance | N/A | $300 Requirements to qualify | Learn moreat Chase, Member FDIC |
What do the best bank bonuses have in common?
The best bank promotions offer the opportunity to earn a significant cash bonus for signing up for a new account with no fees or fees that are easy to get waived. The best bank bonuses for you are ones that have requirements you're comfortable with, including the amount of time you'll have to keep your money in the account to earn the bonus.
How to choose a checking account
Here are some things to do before opening a new checking account.
Look for low or no fees and a low or no minimum balance. The best checking accounts don’t charge monthly fees or require high minimum balances.
Check for a broad ATM network. If you anticipate that you’ll need to deposit and withdraw cash regularly, look for an account at an institution that has a network of ATMs that you can access.
See if the account has an interest rate. Most checking accounts offer minimal, if any, interest, but you may find an account that offers a good rate.
Look for sign-up bonuses. Some providers will give you money for opening an account with them. You shouldn’t pick an account based solely on a promotion, but it could help you decide between two comparable options. Keep in mind that bonuses are taxable and that you may need to meet certain requirements to qualify for a bonus.
Consider credit unions, online banks and nonbank financial service providers as well. These institutions can have certain advantages that traditional brick-and-mortar banks might not. Online providers tend to have low or no fees, high interest rates and user-friendly mobile banking capabilities. Credit unions often focus on providing good customer service and higher interest rates than traditional banks.
How to make the most out of a checking account
Once you’ve opened a new account, you may want to set up some of your account features to make it easier to manage your finances. That may include signing up for direct deposit and online payments, and scheduling automatic transfers to your savings account to shore up your emergency fund. These features and more will make you happy you found a place to park — and use — your cash.
To recap our selections...
NerdWallet's Earn Up To $400 With Online Checking