Top Bank Account Incentives for May 2025: Uncover the Highest Rewards and Sign-Up Deals
Here's a fresh, unbiased, and comprehensive guide for folks considering a new checking or online savings account:
When it comes to setting up a new account, some banks are offering enticing financial incentives: up to $3,000 as a bonus for checking and savings accounts. Jump on these spectacular deals and choose the best one for you. Don't forget to explore other incentives, like bonuses for opening a brokerage account!
Just remember: each bank sets its own criteria for eligibility, so always double-check their website to ensure you meet the requirements.
Top Checking Account Bonuses
- Chase (Private Client): $3,000 bonus
- Huntington National Bank: Up to $600 bonus
- PNC Bank: Up to $400 bonus
- Bank of America: $300 bonus
- KeyBank: $300 bonus
- Wells Fargo: $300 bonus
- SoFi: up to $300 bonus
- Chase Bank (Total Checking): $300 bonus
- Chase Bank (College/Secure Checking): $100 bonus
- TD Bank: Up to $300 bonus
- Capital One: $250 bonus
- M&T Bank: Up to $200 bonus
- KeyBank: $100 annual bonus
Top Savings Account Bonuses
- CIT Bank: Up to $300 bonus
- TD Bank: $200 bonus
- Alliant Credit Union: $100 bonus after a year
- BMO: Up to $60 bonus during the first year
Best Business Bank Account Bonuses
- Huntington National Bank: up to $1,000 bonus
- PNC Bank: Up to $1,000 bonus
- Axos Bank: Up to $400 bonus
A Closer Look at the Top Consumer Checking Account Offers
Chase Bank (Private Client)
You can earn up to a whopping $3,000 by opening a Chase Private Client Checking account or upgrading from another Chase account.
- Bonus amount: $1,000, $2,000, or $3,000
- Expiration date: July 16, 2025
- Requirements to earn the bonus: Schedule a meeting with a Private Client Banker to open a new account or upgrade an existing one. Deposit funds into the new account or eligible J.P. Morgan Wealth Management accounts. The bonus amount depends on the amount you deposit: $1,000 ($150,000 - $249,999), $2,000 ($250,000 - $499,999), or $3,000 (more than $500,000). Your balance 45 days after opening the account determines the bonus amount, and you must keep your money deposited for 90 days.
- When you'll get it: Within 40 days of meeting the requirements.
- These bonuses might offer less in the same amount of time with a high-yield savings account. For example, $150,000 in a high-yield account earning 4% APY would net over $1,900 in interest within four months, compared to the $1,000 bonus from depositing the same amount with Chase.
Huntington National Bank
Huntington offers two personal checking account bonuses: $400 for the Perks Checking Account and $600 for the Platinum Perks Checking Account.
- Bonus amount: $600 or $400
- Expiration date: July 7, 2025
- Requirements to earn the bonus: Get at least $500 in qualifying direct deposits within 90 days and keep the account open for 90 days for the $400 bonus. To earn $600, open a Platinum Perks Checking account, deposit at least $25,000 in new-to-Huntington funds, and keep the account open for 90 days.
- When you'll get it: 14 days after meeting all the requirements.
- These offers apply to residents of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, and Wisconsin.
PNC Bank
Depending on the tier of account you open, you can earn either a $100, $200, or $400 bonus with a new Virtual Wallet account.
- Bonus amount: $400, $200, or $100
- Expiration date: June 30, 2025
- How to get it: Earn $100 by opening a Virtual Wallet and getting qualifying direct deposits of $500 or more. Earn $200 by opening a Virtual Wallet with Performance Spend and receiving qualifying direct deposits of $2,000 or more. Earn $400 by opening a Virtual Wallet with Performance Select and receiving qualifying direct deposits of $5,000 or more. Direct deposits within 60 days of account opening are required for any account.
- When you'll get it: 60-90 days after meeting the bonus requirements.
- All accounts have fees, although they can be waived. Additionally, these bonuses are not available in all locations. Enter your zip code on the PNC website to check what accounts and bonuses are available in your area.
Does the bank have the right to stop offering bonuses at any time?
Yes, banks can stop offering bonuses at any time, as can be seen in the case of CIT Bank's Platinum Savings Account bonuses.
Why do banks offer sign-up bonuses?
Banks use sign-up bonuses to distinguish themselves from other financial institutions and to attract new customers and deposits. While they could pay account holders a higher yield, offering a bonus can be favorable to banks.
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In the banking and finance industry, various banks are offering attractive financial incentives for opening new checking and savings accounts. For instance, Chase Private Client offers a bonus of up to $3,000, Capital One provides a $250 bonus, and CIT Bank offers up to $300 for savings accounts. Exploring these bonuses, along with other incentives, can help you make an informed decision when setting up a new account, ultimately benefiting your personal finance management. Keep in mind that each bank sets its own criteria for eligibility, so it's essential to check their specific requirements before applying.
