People choose to open a bank account for several reasons.
You may have started your first part-time or full-time job and want to keep your savings somewhere you can keep track of it and earn rewards off of it. Perhaps you’re looking for another checking account option that meets more of your needs and gets you better benefits. Perhaps you’re looking to save for a house and need an account dedicated specifically for that.
Whatever your reason, opening up a new bank account can be an exciting time in your financial journey. Whether all online or with an in-person branch, bank accounts can help you manage your money well and get your finances to where you want them to be.
But before you get right into opening up an account, remember that not all bank accounts are set up equally. Each bank has their own set of terms and conditions, as well as other opportunities and benefits that you can keep an eye out for. Certain account types work for different stages of life we may be in, such as in saving for a down payment on a house or looking to earn a little extra cash back in our checking account.
If you’re on the hunt for a new bank account, here are some important things you’ll want to keep in mind:
Don’t Pay Extra Fees
When you decide to keep your money somewhere other than your wallet, you shouldn’t have to pay to put it there. Try to find a bank account offer that doesn’t come with any extra fees or at least includes opportunities to waive those monthly or other maintenance fees. Keep more of your money in your account, not spent on fees.
If you have questions about your bank account balance or management, you want to be sure you’ll be heard and taken care of. Check out the bank’s customer reviews on the level of care and service shown from their team.
Some bank accounts require you to have a minimum balance in order to open and keep your bank account. If not, you may be facing extra fees. Find an account that matches the balance you want to keep, and choose either an account option that doesn’t require a minimum balance or at least has a minimum balance that you can easily manage.
Banking mistakes like overdrafting on your account happen. Know your bank’s overdraft policy and potential charges on such actions. Many banks offer forgiveness for a first overdraft instance.
Type of Account
There are two main types of bank accounts you can open – a checking account and a savings account. A checking account is great for paying bills and spending money. A savings account is designed to help you put money away for later use while earning a little bit of interest to factor in inflation. Determining your money goals will help you figure out what type of account is best for you.
Find the Option That Works For You
Regardless of best promotional opportunity, as we’ll explore, it’s important to pick the account that best meets your money goals for where you are with your finances.
Keeping these important points in mind, you can explore a wide variety of bonuses and special offers that can come along with opening up an account. Here we share eight of the best new bank account promotions.
Best Bank Account Promotions
If you’re looking to get the most out of keeping your money in a bank, opportunities like these will get you the peace of mind in managing your finances and getting to where you want to be. As will all offers and promotions, be sure you read all the information from the bank about these opportunities and be aware of any hidden fees or other restrictions.
Bank of America
Account: Personal Checking
Promotion: $100 Bonus
When you’re looking for a quick and easy way to get a little extra rewards, check out Bank of America’s personal checking account to get an extra $100 into your account. With their variety of checking account options eligible for this offer, just making two direct deposits of $250 or more within the first 90 days of having your account can get you extra rewards. You’ll need to meet the minimum opening deposit, but once you have that locked in, you’re set to go.
In addition to extra bonuses, you’ll also get other great rewards with this account such as money management right from your phone and fraud monitoring so you can keep track of your money easily and conveniently. Bank of America also has helpful money management tools to help you make wise financial decisions.
Account: Checking and Savings
Promotion $25 Bonus
Earn an extra $25 when you open up a 360 Checking or 360 Savings account through their Refer a Friend program. Tell someone you know about your experience with Capital One and get rewarded for it whether you choose to spend, save or both. In a 360 Savings account, you’ll get an extra $25 bonus added to the already helpful benefits of this savings account when you make an initial deposit of at least $250 into the account. Get an added 1% APY on your balance and no monthly fees to make sure you manage your money well. In a 360 Checking account, you can also earn an extra $250 when you make an initial $250 deposit into your new account and when you make three purchases with your debit card or the online payment system, Zelle. You’ll get an extra $25 added to your account shortly after. Enjoy no monthly fees with this checking account and visit ATMs without the added hassle of fees. With both the savings and checking account, you can keep track of all your finances right from your phone through their convenient mobile app. Deposit checks right into your account and earn interest on the money you already have. With these accounts, it’s easy to get a little extra boost in your balance.
Promotion: $200 Cash Back (Total Checking) $350 cash back bonus (Total Checking and Chase Savings)
No matter what your plans are for your money, there’s a promotion for you with Chase banking. Earn $200 cash back when you open a Total Checking account with a $25 deposit and include direct deposit. When you add on a Chase Savings account, you can earn up to $350 just for opening up the two accounts. With this promotion, you’ll need to keep a $25 deposit and include direct deposit for the checking account, and add on a savings account with a deposit a total of at least $10,000 and keep that balance for at least 90 days. While there are monthly fees associated with these accounts, there are opportunities for you to waive the fees when you meet a select monthly requirement. When you combine these two offers, you can have accounts that meet both financial goals of spending and saving, and get rewarded for both.
In addition to these promotions, you’ll also get access to Chase Banking regular services such as text banking and mobile check deposit that make staying up to date on your account quick and easy. Save and spend with confidence with fraud protection and paperless statements.
Account: Checking and savings
Promotion: Earn $600
If you’re looking for an opportunity to pair your check and savings account, and get extra rewards in the process, check out CitiBank’s special offer to earn an extra $600 just for opening up these two new accounts and meeting certain requirements. When you open your accounts, deposit a total of $50,000 between the two accounts, and keep that balance for at least 60 days. And just like that, you’ll get an extra $600 earned. Be sure to check your local availability for this offer, as rates and promotions can vary based on where you live.
In addition to this great offer, you’ll also have access to other CitiBank benefits. Visit over 60,000 ATMs with no fees so you can get the cash you need, when you need it. Stay up to date on your account with confidence with their mobile app where you can track your spending, find an ATM near you and deposit checks right into your account. Get insight into financial savings practices and much more as you manage your money with CitiBank.
Promotion: Earn $750 with a Premier Checking account, earn $350 with an Advance Checking account and a $200 bonus with a Choice Checking account.
This helpful new bank account promotion allows you to choose the checking account that suits your financial needs. No matter which of the three accounts you select, you’ll still get a chance to reap the rewards. You can open up their Premier Checking account and deposit a minimum of $100,000 of quality funds and investments within the first 30 days of having your account, and maintain the qualifying balance on your account in order receive the extra $750 Welcome Deposit for your account. This account is great for those desiring an account to deposit a larger sum of money. Choose the Advance Checking account to get an extra $350 added to your account when you deposit at least $10,000 i new funds and savings accounts within the first 30 days of your account and maintain the minimum balance for at least 90 days. This account is a great option when you want to grow and manage your money even more. Lastly, if you’re looking to put away a little less money, choose the Choice Checking account and deposit a minimum of $1,500 or more in new funds within your first 30 days and keep a minimum balance for the first 90 days in order to get rewarded $200 into your account. This account is great for starting out and looking for convenience in managing your money. You get to pick the account that will best serve your financial status and goals. You can only obtain this offer through their online service.
In addition to the money management platform, you’ll also be able to manage your account right from your phone with their mobile and online banking services. Make transfers easy between accounts and pay bills quickly, safely and securely. You’ll also have access to calculators and budgeting help to make sure you make the right decisions when it comes to your finances. With the options provided through these checking accounts, you can savor the rewards of becoming a member.
Promotion: Earn $200
Offer Good Through: 6/30/19
If only you could get paid to spend money. With this bonus offer from Huntington Bank, you basically can. By opening up a Huntington 5 Checking account, you have the opportunity to get a little extra added to your account. To qualify for the extra rewards, all you have to do is deposit at least $1,000 into your account within the first 60 days of having it open. The account also has to stay open for at least 90 days before you can get the reward. Once you meet all those requirements, you can get $200 added to your account within two weeks.
Along with this added reward, you’ll also earn a 0.15% APY on your balance as you keep it in your account, so you can watch your money grow. Get access to fee-free ATMs so you can get the cash you need, when you need it. Waive your monthly maintenance fee by keeping at least $5,000 in your accounts.
Account: Virtual Wallet
Promotion: Earn an extra $50, $200 or $300
Offer Good Through: May 31, 2019
Join in the convenience of online banking with PNC’s Virtual Wallet program. With their checking and savings account options, it can be easy to manage your money. And with this special offer, you can continue to earn the benefits. When you open a new Virtual Wallet account, make at least 10 purchases and have direct deposits of at least $500, you’ll earn an extra $50 into your account. Add their Performance Spend feature, make at least 10 purchases and deposit at least $2,000 to earn an extra $200. And, when you pair your Virtual Wallet account with Performance Select, make 10 purchases and deposit at least $5,000 into our account, you’ll get rewarded with an extra $300. With this offer, you’ll also get other helpful resources through PNC bank such as reimbursement coverages, designed checks, impressive interest rates with a savings account, fee-free ATMs and much more. You’ll even have the opportunity to waive your monthly service charge fee if you meet their minimum monthly requirements. Be sure to check your area for terms and conditions.
The beauty of a Virtual Wallet account is that it combines both the important financial actions of spending and saving into one convenient platform. Earn extra rewards as you pay bills and follow your budget and see where your money is going. You’ll also be able to keep track of your savings with accounts and tools that make setting aside some of your money easy to do and easy to manage. Transferring money is easy to do and you can even set up automated processes to add up the savings for you. With their convenient app, you can always have access to your account and financial habits.
Account: Convenience or Premier Checking
Promotion: Earn an extra $150 or $300
Offer Good Through: Check your local bank to see promotions timelines and availabilities.
When you’re looking to open up a new checking account to make it easy to navigate your finances, why not earn a little extra cash while you’re at it. While this offer is only available in select states, if you qualify, you can get an extra $150 when you open up a TD Convenience account and make a deposit of at least $500 within your first 60 days. If you choose to open up their TD Premier account, you’ll earn an extra $300 when you deposit at least $2,500 within your first 60 days. You can even waive the monthly fees with maintaining your minimum daily balances for either $100 or $2,500. As always, be sure to check your location’s specific availability.
In addition to the opportunity to earn a little extra cash for opening up an account, you’ll also get other great benefits with a TD Checking account such as online banking where you can pay bills, see your statement and deposit checks. Connect with their customer service team at any time so you can get your questions answered. If you ever have trouble or lose your debit card? Get it replaced as soon as possible so you can get on your way.
Reap the Rewards in Opening Up a New Account
Starting a new bank account can be an exciting time. Why not let the celebrations continue and earn an extra reward just for choosing a particular bank. With these bank promotions and special offers, you can keep watching your balance grow as you spend and save with financial wisdom.