Best Bank Bonuses and Promotions of 2023

Bank bonuses and promotions can make opening a new account more rewarding. Here's a list of banks that have the best bonuses and promotion offers for 2023.
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By Rebecca Lake

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best bank bonuses and promotions

If you’re planning to open a bank account, one thing to consider is whether there are any bonuses being offered to new customers.

Getting a bank bonus or a bonus from a credit union could be an easy way to make some extra money when you’re opening a personal checking account or savings account.

But which checking and savings account options are the most rewarding for 2023 if you’re interested in receiving cash bonuses? We’ve done the research for you to find the best bank offers and promotions for 2023.

Chase Total Checking: $200 Bonus

The Chase Total Checking account also features one of the best bonuses for a new account. New Chase checking customers enjoy a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit.

This account has a $12 monthly service fee which you can avoid by scheduling a recurring direct deposit of $500, maintaining a minimum balance of $1,500 at the beginning of each day, or maintaining an average balance of $5,000 across all qualifying linked Chase accounts.

How to qualify:

  • Open a Chase Total Checking account online or at a Chase branch.
  • Set up a qualifying direct deposit to the account within 90 days.

Offer terms and conditions:

  • $200 bonus is deposited into your account within 15 business days of making a direct deposit.
  • This offer is not available if you had a Chase checking account in the previous 90 days or closed a Chase account with a negative balance.
  • Your account must remain open for at least 6 months to keep the bonus.

Citibank: Up to $700

Citibank has one of the best bonuses offered by any bank or credit union. There are two separate checking offers, ranging from $300 to $700 in cash bonuses.

To nab these bank bonus deals, you must open both a checking account and savings account.

How to qualify:

  • To earn a $300 bonus, open new, eligible checking and savings in the Citibank® Account Package by making a qualifying deposit of a minimum of $15,000 within 30 days, enroll in the Checking Cash Bonus Offer by the 30th day, and maintain a combined balance of $15,000 for 60 consecutive calendar days
  • To earn a $700 bonus, open new, eligible checking and savings accounts in the Citi Priority Account Package, deposit a minimum of $50,000 in new-to-Citibank funds between the new checking and savings accounts within 30 days, enroll in the Checking Cash Bonus Offer by the 30th day, and maintain a combined balance of $50,000 for 60 consecutive calendar days

Offer terms and conditions:

  • Bonuses are credited to your account within 90 days of the date you complete all the required activities
  • This offer is not available if you had a Citibank checking account within the previous 180 days

HSBC Premier Checking Account: Up to $600

The HSBC Premier Checking account offers two ways to earn a bank bonus, with bonuses offered to total up to $450 in value. Both checking offers are available exclusively online.

The HSBC Premier Checking account is unique since there are no fees on everyday banking transactions, no wire transfer fees, no foreign transaction fees and no ATM fees. There is a $50 monthly maintenance fee unless you have monthly recurring direct deposits of at least $5,000 or a combined balance of $75,000 in your HSBC bank accounts – or you have an HSBC residential mortgage loan in the U.S. that had an original loan balance of at least $500,000.

How to qualify:

  • Open an HSBC Premier Checking account online
  • To receive a $450 welcome deposit, make recurring direct deposits of $5,000 or more for three consecutive months from the second full calendar month after account opening

Offer terms and conditions:

  • The $450 welcome bonus is added to your account approximately eight weeks after qualifying
  • This offer is not available if you had an HSBC consumer deposit or investment account from August 31, 2018, through and including August 31, 2021

TD Bank Beyond Checking: $300 Bonus

TD Bank Beyond Checking offers a $300 bonus to eligible new account holders. It’s one of the most generous bonus offers you’ll find if you’re able to meet the direct deposit requirements.

There’s no minimum deposit required to open this account, but there are requirements to avoid the $25 monthly fee. You can avoid the fee by scheduling $5,000 or more in direct deposits per statement cycle, maintaining a $2,500 minimum daily balance or keeping a $25,000 minimum balance across all TD Bank accounts, including loans and mortgages but excluding credit cards.

How to qualify:

  • Open a new TD Bank Beyond Checking account online or at a TD Bank branch
  • Schedule direct deposits of $2,500 or more into the account within 60 days of opening

Offer terms and conditions:

  • $300 bonus will be deposited to your account no later than 140 days from account opening
  • You can’t qualify for this offer if you already have a TD Bank personal checking account at TD Bank within the preceding 12 months

TD Bank Convenience Checking: $150 Bonus

If you’re looking for a checking account with a smaller direct deposit requirement, you might consider the TD Bank Convenience Checking account instead. This account comes with a bank bonus of $150 for eligible new customers.

To avoid the $15 monthly maintenance fee for this account, you just need to maintain a minimum balance of $100.

How to qualify:

  • Open a new TD Bank Convenience Checking account online or at a TD Bank branch
  • Direct deposit $500 or more into the account within 60 days of opening

Offer terms and conditions:

  • $150 bonus will be deposited to your account no later than 140 days from account opening
  • You can’t qualify for this offer if you already have a TD Bank personal checking account at TD Bank within the preceding 12 months

Read the Fine Print on Bank Bonus Offers

Banks and credit unions regularly update the terms for bonus offers, so it’s important to know what you’re getting and what’s required before opening a new account.

In addition to the minimum opening deposit requirements and direct deposit requirements, also pay attention to what you need to do to avoid a monthly maintenance fee.

Finally, remember that not all bank bonus offers and promotions may be available in every state.

About Author
Rebecca Lake joins MoneyRates as a contributor writing about banking, credit and debt, home-buying, investing, small business, and other personal finance topics. Rebecca brings her expertise as a personal-finance journalist to MoneyRates.com, having written about money for over five years. Her work has appeared online at U.S. News and World Report and many other publications.