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Choosing a bank is a big decision.
So many bank accounts come with similar interest rates, minimum opening deposits, ATM fees, and monthly charges. When they start to look interchangeable, a cash bonus can be the tipping point.
Below, we’ve listed the best bank account bonuses for February 2021. The best promotions are for regional and national banks, and many companies offer hefty bonuses if you follow a few guidelines.
Best checking account bonuses of February 2021
Many checking accounts have cash promotions worth noticing right now. The following checking account bonuses are listed from largest to smallest.
- Associated Bank (Member FDIC): Up to $500 bonus
HSBC Premier Checking (Member FDIC): $450 bonus, or 3% cash bonus up to $600Investors eAccess Checking Account (Member FDIC): Up to $250 bonusHSBC Advance Checking (Member FDIC): $200 bonus, or 3% cash bonus up to $240PNC Bank Virtual Wallet Checking Pro (Member FDIC): Up to $400 bonusChase Total Checking® (Member FDIC): $200 bonusHuntington 5 Checking (Member FDIC): $200 bonusHuntington Asterisk-Free Checking (Member FDIC): $150 bonus- Bank of America (Member FDIC): $100 bonus
Read more about each account below:
Bonus amount: Up to $500
Expiration date: May 31, 2021
Who qualifies: You must not have opened an Associated Bank account within the last six months.
What you need to do:
- Open an Associated Bank checking account by May 31, 2021
- Receive at least $500 in direct deposits within 90 days of opening the account
- At the end of 90 days, Associated Bank will add up your average daily balances between days 61 and 90, and your bonus will depend on the sum of your balances. You’ll earn $200 for a sum of $1,000 to $4,999.99; $300 for a sum of $5,000 to $9,999.99; $500 for a sum of $10,000 or more.
- Keep the account open for 12 months. If you close the account before the 12-month mark, Associated Bank will withdraw the bonus amount from your account before closing it.
When you’ll receive the money: You’ll get the bonus within 120 days of completing your 90-day qualification period.
Bonus amount: $450, or 3% cash bonus up to $600
Expiration date: March 31, 2021
Who qualifies: You don’t qualify for these bonuses if you’ve had an HSBC bank account or investment account between January 7, 2018, and January 7, 2021.
What you need to do to earn the $450 bonus:
- Open an
HSBC Premier Checking by March 31, 2021 - Set up direct deposits for three consecutive months from the second complete calendar month after opening the account
- Your direct deposits over the three-month period must total at least $5,000
What you need to do to earn the 3% cash bonus up to $600:
- Open an
HSBC Premier Checking online by March 31, 2021 - Set up qualifying direct deposits into your account
- Earn 3% cash bonus, up to $100 per month, for the first six months after opening your account
When you’ll receive the money: You’ll get the $475 around eight weeks after completing the three-month qualification period. You’ll get the 3% bonus roughly eight weeks after completing the necessary actions for a month.
Bonus amount: Up to $250 ($25 per month for up to 10 months)
Expiration date: Ongoing
Who qualifies: New personal checking account customers.
What you need to do:
- Open an
Investors eAccess Checking Account - Receive $500 per month in direct deposits, OR make 10 point-of-sale transactions per month
When you’ll receive the money: You’ll receive the $25 for the month at the beginning of your next statement period.
Bonus amount: $200, or a 3% cash bonus up to $240
Expiration date: March 31, 2021
Who qualifies: You don’t qualify for these bonuses if you’ve had an HSBC bank account or investment account between January 7, 2018, and January 7, 2021.
What you need to do to earn the $200 bonus:
- Open an
HSBC Advance Checking Account by March 31, 2021, using the offer page on the HSBC website - Set up direct deposits for three consecutive months from the second complete calendar month after opening the account
- Your direct deposits over the three-month period must total at least $500
What you need to do to earn the 3% bonus, up to $240:
- Open an
HSBC Advance Checking Account by March 31, 2021 - Set up eligible direct deposits into your account
- Earn 3% cash bonus, up to $40 per month, for the first six months after opening your account
When you’ll receive the money: You’ll get the $200 around eight weeks of completing the three-month qualification period. You’ll receive the 3% bonus roughly eight weeks after finishing the necessary actions for a month.
Bonus amount: $200 to $400
Expiration date: March 1, 2021
Who qualifies: You qualify if you haven’t had a PNC bank account within the last 90 days and haven’t received a PNC bonus in the last 12 months.
What you need to do:
- Open a
PNC Bank Virtual Wallet Checking Pro account by March 1 - Receive $2,000 in direct deposits within the first 60 days (for $200)
- Receive $5,000 in direct deposits in the first 60 days and live in an area with a PNC branch (for $400)
When you’ll receive the money: The $200 or $400 will be deposited into your account within 60 to 90 days after you’ve met all the qualifications.
Bonus amount: $200
Expiration date: April 14, 2021
Who qualifies: You must not have had a Chase checking account or fiduciary account within the last 90 days, or have closed one with a negative balance. You can also only receive one new checking account bonus every two years.
What you need to do:
- Open a
Chase Total Checking® account by April 14, 2021 - Make a direct deposit within 90 days of opening the account
- Keep the account open for six months, or the $300 will be deducted from your account at closing
When you’ll receive the money: You’ll get $300 within 10 business days of making your direct deposit.
Bonus amount: $200
Expiration date: April 7, 2021
Who qualifies: You must be a new Huntington checking customer who hasn’t closed a Huntington checking account in the last 60 days.
What you need to do:
- Open a
Huntington 5 Checking® Account by April 7, 2021, at a Huntington branch - Deposit $1,000 within 60 days of opening the account
- Keep the account open for 90 days
When you’ll receive the money: You’ll get $200 within 14 days of your 90-day qualification period ending.
Bonus amount: $150
Expiration date: April 7, 2021
Who qualifies: You must be a new Huntington checking customer who hasn’t closed a Huntington checking account in the last 60 days.
What you need to do:
- Open a
Huntington Asterisk-Free Checking® Account by April 7, 2021, at a Huntington branch - Deposit $1,000 within 60 days of opening the account
- Keep the account open for 90 days
When you’ll receive the money: You’ll get $150 within 14 days of your 90-day qualification period ending.
Bonus amount: $100
Expiration date: June 30, 2021
Who qualifies: You’re eligible as long as you haven’t had a Bank of America checking account in the last 6 months.
What you need to do:
- Open a Bank of America Advantage SafeBalance, Plus, or Relationship Banking Checking Account through the bank’s promotional page by June 30
- Receive at least two recurring direct deposits of at least $250 within 90 days of opening the account
When you’ll receive the money: You’ll get the $100 within 60 days of finishing the requirements.
Best savings account bonuses
Right now, there’s only one savings account sign-up bonus available:
Chase Savings℠ : $150 bonus
Bonus amount: $150
Expiration date: April 14, 2021
Who qualifies: You can’t already have a Chase checking or fiduciary account, and you must not have closed one with a negative balance in the last 90 days.
What you need to do:
- Open a
Chase Savings account by 04/14/2021 - Deposit $10,000 within 20 days of opening the account
- Maintain a balance of at least $10,000 for at least 90 days
When you’ll receive the money: The $150 should hit your savings account within 10 business days after completing the 90-day qualification period.
Best savings and checking account package bonuses
- Citibank Priority Account Package: $700 bonus
- Citibank Account Package: $300 bonus
Read more about each account below:
Bonus amount: $700
Expiration date: April 1, 2021
Who qualifies: New Citibank customers who have not had a Citibank account in the last 180 days.
What you need to do:
- Open an eligible checking account and savings account in the Priority Account Package by April 1, 2021
- Deposit $50,000 in new funds into your account within the first 30 days
- Maintain a minimum balance of $50,000 for at least 60 days
When you’ll receive the money: You’ll receive $700 within 90 days after your 60-day qualifying period ends.
Bonus amount: $300
Expiration date: April 1, 2021
Who qualifies: New Citibank customers who have not had a Citibank account in the last 180 days.
What you need to do:
- Open an eligible checking account and savings account in the Account Package by April 1, 2021
- Deposit $15,000 in new funds into your account within the first 30 days
- Maintain a minimum balance of $15,000 for at least 60 days
When you’ll receive the money: You’ll receive $400 within 90 days after your 60-day qualifying period ends.
Frequently asked questions
Is opening a bank account for the bonus worth it?
In short – it depends.
Depending on your balance, a cash bonus could end up earning you more money than a high APY would. However, make sure you won’t pay fees that will cancel out the amount you earn as a bonus. For example, if you earn a sign-up bonus but have to pay a monthly fee and are regularly penalized for overdrawing, opening a bank account for the bonus may not be worth it.
Why do banks have sign-up bonuses?
Banks offer bonuses to draw in new customers and to set themselves apart from competing banks that may offer similar interest rates, monthly fees, or opening deposit requirements.
Can I receive more than one bank account bonus?
You typically can’t receive more than one bank account bonus with the same bank within a certain amount of time – usually between a few months and a couple years. But if you have the funds, you may be able to receive one bank account bonus from multiple banks.
Do I have to pay taxes on bank account bonuses?
Yes, you do have to pay taxes on your bonus. When you file taxes for the year, you’ll report the sign-up bonus as income and pay income tax accordingly.
This post was reviewed and updated on February 1, 2021.
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