Banks Are Now Offering Up to $700 Cash For Opening New Accounts

In times of financial uncertainty, banks need your business! If you open an account with a bank, you’re more likely to get your other financial needs from that same bank, such as credit cards, car loans, and savings accounts.

With more and more banks going online and saving on the cost of having a physical premises, customers have choices. Many banks offer generous incentives to get your business — some as much as $700 just to open up an account.

If you’re looking for the best bank deals on offer today, here are some of the best bonuses available.

Top 2020 Bank Account Bonuses

T.D. Bank Beyond Checking ($300 Cash Bonus)

T.D. Bank is currently offering a $300 cash bonus to new customers who open a Beyond Checking account and receive a minimum of $2500 in direct deposits within their first 60 days. To qualify for this offer, all you have to do is be a U.S. resident and apply online. The Beyond checking account has a $25 monthly maintenance fee; however, this is waived if you have monthly direct deposits of at least $5,000, a minimum daily balance of $2,500, or a balance of $25,000 across your combined eligible T.D. accounts.

Chase Total Checking ($200)

If you want to bank with one of the biggest financial institutions in the U.S., Chase could be the perfect option. When you open a Chase Total Checking account and make a minimum direct deposit within 60 days, and you could receive a $200 bonus! Chase’s Total Checking account has a $12 monthly fee, but it’s waived if you can meet any of the following criteria each month:

Send or receive direct deposits of at least $500 a month

Keep a minimum daily balance of $1,500

Maintain an average daily balance of $5,000 in linked deposits or investments

The easiest way to receive this bonus is to apply online on the Chase website.

SunTrust Bank Advantage Checking ($500 Cash Bonus)

SunTrust is offering a $500 cash bonus to customers who open a new Advantage Checking account by Jan. 4, 2021. All you have to do is complete at least $3,000 in qualifying direct deposits each statement cycle for two consecutive statement cycles. Additionally, you could be eligible for a loyalty cash bonus of up to 50%, depending on your relationship with SunTrust.

The SunTrust Bank Advantage Checking account has a $20 monthly maintenance fee; however, the fee is waived if you meet any of the following requirements:

Make at least $3,000 in qualifying direct deposits monthly

Keep at least $10,000 in combined balances across eligible deposits and investments

Have a personal SunTrust credit card, loan, mortgage, or small business checking account

To open up a new SunTrust Bank Advantage Checking account, simply head to their website and enter the code “Q420ADVANTAGE”

Citibank – $700 Cash Bonus

For a limited time, customers can earn $700 when they open a new checking and savings account with Citibank. To earn this generous bonus, all you have to do is deposit a minimum of $50,000 between your new Citibank checking and savings accounts within the first 30 days of opening your account. In addition, you should also keep a minimum balance of $50,000 between your two accounts for at least 60 consecutive calendar days.

If you meet these two qualifying activities, you’ll receive your $700 bonus within 90 calendar days.

HSBC Premier Checking (Up to $600 Cash Back)

HSBC offers world wide banking, with branches across the globe. Their Premier Checking account is currently offering 3% cashback on qualifying direct deposits during the first six months — up to a total cashback of $600.

To earn the cashback, you have to open your new Premier Checking account by Jan. 7, 2021. You must also set up at least one qualifying third-party direct deposits per month to your HSBC Premier checking account. This account has a $50 monthly maintenance fee; however, you can avoid it by making recurring direct deposits of a minimum of $5,000 per month, or keeping a combined minimum balance of $75,000 across all of your eligible personal and investment HSBC accounts.

Bank of America Advantage Banking ($100 Bonus)

Bank of America Advantage Banking is an innovative way to take care of your checking account needs. If you need flexibility, Bank of America Advantage Banking could be the perfect choice for you. There are three checking account settings to choose from; Advantage SafeBalance, Advantage Plus, or Advantage Relationship. Simply select the one that works for you, and if your circumstances change, you can quickly and easily switch to another setting that meets your new needs.

To earn your cashback, head to Bank of America’s website and apply for your new account before Dec. 31, 2020. Then set up two qualifying direct deposits of a minimum of $250 within the first 90 days of opening your account.

T.D. Bank Convenience Checking ($150 Cash Bonus)

T.D. Bank Convenience Checking is an alternative to the T.D. Bank Beyond Checking account. You can easily apply online for a T.D. Bank Convenience Checking account — plus, it has a much lower minimum balance requirement. To get your $150 cash bonus, you must be a U.S. resident and receive $500 or more into your T.D. account within 60 days of opening.

The Convenience Checking account also typically includes a $15 monthly maintenance fee; however, this is waived if you keep a minimum daily balance of $100. In addition, students and those aged from 17 to 23 qualify for more perks, including no monthly maintenance fee and no minimum balance to meet.

The Advantages of Online Banking

Online banking is one of the most convenient ways to handle your finances. You can do it on the go or in the comfort of your own home from any device. All of the banks we’ve mentioned offer online banking through an app or via their website. To find the best deals, be sure to head to each bank’s website to learn more about what they’re offering. There are tons of generous bonuses out there if you take the time to search.

https://www.magnifymoney.com/blog/earning-interest/best-online-savings-accounts275921001, https://www.valuepenguin.com/banking/average-bank-interest-rates, https://www.moneycrashers.com/best-new-bank-account-promotions-offers/

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