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Are you looking for a checking account with more rewards? You’re in luck as we’ve rounded up the best checking account bonuses, giving you an excellent place to start. If you’re wondering if bank bonuses are worth it, know that banks are willing to reward your loyalty by giving you cash rewards. For example, here’s how you can earn a $600 bonus with Chase Bank.

Flying Over Greenland on a flight from Stockholm to Newark. Credit: Johnny Jet

The Best Checking Account Bonuses for 2023

It’s easy to solely focus on maximizing credit card bonuses but overlook checking accounts. After all, credit cards tend to be more exciting and are usually advertised more frequently. However, having the right checking account can both pad your wallet and make it easy to access your cash.

However, note that before applying for any bonus, make sure you read the bonus offer details. Look for any potential fees that you may be able to waive. You don’t want to give back your earnings to the bank because of extra fees.

Here are some of the best checking account bonuses:

U.S. Bank Smartly Checking

Another option is the U.S. Bank Smartly® Checking. You can open an account with an initial deposit as low as $25 and up to $3,000. Then, add money as needed. You can add money in several ways:

  • By depositing a check with the U.S. Bank app, visiting a U.S. Bank branch, or through a U.S. Bank ATM
  • Through an online transfer into your account
  • Or through wiring money from an old account into your new account

Some of the tools that come with your account include money management with account alerts and overdraft protection, mobile deposits, payment with Zelle, and personalized financial insights.

There is a monthly fee of $6.95. However, it can be waived if you’re a member of the military, meet age requirements, meet certain criteria with a specific monthly direct deposit total, or meet minimum account balance requirements.

Earn up to $1,000 Bonus with U.S. Bank Smartly® Checking and a Standard Savings Account

Earn up to $1,000 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through October 31, 2023. Member FDIC. 

First, earn up to $500 with a new U.S. Bank Smartly® Checking account by completing the following within 90 days of account opening:

  • Enroll in online banking or the U.S. Bank Mobile App
  • Make two or more direct deposit(s)* totaling $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500

Earn up to $400 with a new Standard Savings account. 

  • Make new money deposit(s) totaling $25,000 to $49,999.99 to earn $200 or $50,000 or more to earn $400 by November 30, 2023 
  • Then, maintain that balance until May 31, 2024                                                                             

Earn an additional $100 for opening both! 

Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for Checking account. 

CIT Bank

The CIT Bank eChecking account doesn’t offer a signup bonus but offers these perks:

  • No monthly service fees
  • The entire account balance earns interest
  • Up to $30 in monthly non-network ATM fee reimbursements
  • Online bill pay

The minimum initial deposit is $100. You do not need to enroll in direct deposit or maintain a minimum balance, hassles that some of the other banks require to earn a bonus or waive the monthly service fee. Having an average daily balance of at least $25,000 waives the $10 outgoing wire transfer fee.

An eChecking account can be your best option if you want a (mostly) fee-free checking account or only have a small amount of cash to deposit. Two incidental fees you might pay are a $30 overdraft fee and a 1% fee for international purchases and ATM withdrawals. While CIT Bank is an online-only bank, you have plenty of ways to access your cash. For instance, you can transfer money to friends using Zelle®, Samsung Pay, or Apple Pay.

Savings Options Worth Mentioning

CIT Bank has several savings account options you may like as well. The CIT Bank Money Market Account requires a $100 initial deposit. Unlike other money market products, this one doesn’t come with a debit card or paper checks. But you can enroll in online bill pay and can make up to six free monthly withdrawals. This account can be a good option if you don’t want separate savings and checking accounts.

The CIT Bank Savings Builder High Yield Savings Account can motivate you to save at least $100 each month.

Each account can have higher interest rates and make it easier to waive the monthly service fee than most brick-and-mortar banks.

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Chase Bank – Best Checking Account Bonus?

Let’s have a look at what Chase Bank has to offer.

Chase Business Complete Banking

If you’re interested in a business account, check out the Chase Business Complete Banking® option. There are also multiple ways to waive the Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card.

Earn $300 when you open a new Chase Business Complete Banking® account. For new Chase business checking customers with qualifying activities. The offer expires on 10/19/2023.

Chase First Banking

The information for Chase First Banking℠ has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

Another option worth mentioning is a Chase First Banking℠ account designed with kids 6-12 in mind and available for ages 6-17. It also comes with a debit card for kids and a $0 monthly service fee.

Kids can also learn to spend, save and earn—all from the Chase Mobile® app.

While it can be used by parents to help teach their teens and kids money management, you must be an existing Chase checking customer to open a Chase First Banking℠ account. There is a $0 minimum balance to open the account and a $0 monthly service fee.

Parents can set limits on where and how money is spent as well as how much can be withdrawn at ATMs.

However, there is a non-Chase ATM fee ($3.00 for inquiries, transfers, and withdrawals while using a non-Chase ATM in the US, Puerto Rico, and US Virgin Islands. Fees from the ATM owner/network still apply. $5 per withdrawal and $3.00 for any transfers or inquiries at ATMs outside the U.S., Puerto Rico, and the U.S. Virgin Islands. Fees from the ATM owner/network still apply).

Additionally, alerts can be set up to keep track of expenses. Parents can also pay allowances through the Chase Mobile app.

While this doesn’t come with a specific bonus, it is still worth mentioning in our best checking account bonuses list due to the option to teach younger generations the importance of financial responsibility.

Chime Bank

The information for Chime Bank has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

Unfortunately, this doesn’t have a specific bonus but it is worth considering in your options for the best checking account bonuses. Chime Bank offers a free Spending Account that’s similar to checking accounts that banks offer. There are no monthly account fees, and you get a free Visa debit card. You cannot get a paper checkbook, but Chime will mail checks of up to $5,000 for free within the 50 states and Washington, D.C.

Chime Spending Account includes these perks:

  • Free-free SpotMe overdraft protection
  • Receive direct deposits up to two days early
  • Over 38,000 fee-free ATMs (MoneyPass and Visa Plus Alliance networks)
  • Instant money transfers to other Chime members
  • $0 initial deposit
  • No minimum balance requirement

You can qualify for free SpotMe overdraft protection when you receive at least $500 in monthly direct deposits. Your overdraft protection limit is between $20 and $100. Chime uses your next deposit to repay the negative payment balance.

Your Chime Visa debit card can make fee-free withdrawals at MoneyPass and Visa Plus Alliance ATMs across the United States. If you forget your card, the Chime App lets you instantly freeze and unfreeze your card.

Savings Accounts Worth Mentioning

One downside of opening a Chime Bank Spending Account is no signup bonus. Chime Bank is a good option if you’re new to banking or want a simple fee-free account. If you transfer money to friends often, Chime Bank has fewer instant transfer capabilities than other banks. You can make instant transfers to other Chime members using Chime’s Pay Friends mobile app. Chime supports other third-party payment apps including Apple Pay and Google Pay.

It’s possible to make up for the lack of a Spending Account bonus by stashing your extra cash into a High Yield Chime Savings Account. You won’t pay a monthly account fee with this savings account either.

You can optimize your spending and savings accounts by enabling savings round-ups with your Chime debit card. Chime can round up your debit card purchases and transfer the round-up to your savings account. It’s also possible to schedule recurring transfers from each Spending Account direct deposit.

SoFi Bank

With a SoFi Checking & Savings account, you can enjoy several benefits, including getting paid up to 2 days early and earning up to 4.20% APY and up to $250 with direct deposit. Plus, you won’t have to worry about monthly account fees, minimum balance fees, or overdraft fees.

Account holders have access to 55,000+ fee-free ATMs within the Allpoint Network. Other perks include no-fee overdraft coverage of up to $50 with qualifying direct deposits. Plus, you can get up to 15% cash back at local businesses when you pay with your SoFi debit card.

Earning APY

Additionally, SoFi members with direct deposit can earn up to 4.20% APY on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum balance requirement.

You don’t have to have a minimum direct deposit amount required to qualify for the 4.20% APY for savings. However, if you don’t have direct deposit, you will only earn 1.20% APY on all account balances in checking and savings (including Vaults).

Get Up To a $250 Cash Bonus

You can also get up to a $250 cash bonus by depositing $5,000 or more total qualifying direct deposit amount during the 25-day evaluation period with the SoFi Checking & Savings. Depositing $1,000-$4,999.99 in total qualifying direct deposits during the 25-day evaluation period will get you a $50 cash bonus.

U.S. Bank

Now, let’s see what U.S. Bank has to offer, including its latest promotions.

U.S. Bank Business Checking

If you’re interested in business options, there is the U.S. Bank Business Checking accounts. There are several accounts available to fit a variety of needs. Accounts can be opened with a deposit as low as $100 or as much as $3,000. After you’ve got your account, you can add funds in several ways, including a check deposit at a U.S. Bank branch, ATM, or through the U.S. Bank app. Funds can also be added by completing an online transfer from another account or wiring money into your account. 

Earn up to $750

Additionally, there’s an exciting promotion that ends on August 31, 2023. New account holders can earn up to a $750 bonus when they open a new, eligible U.S. Bank Business Checking account online with the promo code AFL23 and complete qualifying activities (subject to terms and limitations). Member FDIC.

Account holders can earn $750 after making a deposit of at least $15,000 in new money within 30 days of account opening and maintaining the balance until the 60th day after account opening. Plus, enroll in U.S. Bank business online banking or the U.S. Bank Mobile App within 60 days of account opening.

Earn $500

If the $15,000 deposit is a bit steep, you can still earn $500 when you open a new, eligible U.S. Bank Business Checking account online with promo code AFL23 and complete qualifying activities, subject to certain terms and limitations. Activities include making a deposit of at least $5,000 in new money within 30 days of account opening and maintaining the balance until the 60th day after account opening. Additionally, enroll in U.S. Bank business online banking or the U.S. Bank Mobile App within 60 days of account opening. Member FDIC.

This promotion ends on August 31, 2023.

All U.S. Bank Payment Solutions Products (Get 2.50% Back!)

An additional banking option to consider is U.S. Bank Payment Solutions products, including U.S. Bank Merchant Services. With one of these accounts, you may accept payments easily and quickly and improve business operations. Additionally, these accounts allow you to manage your account receivables while providing your customers with a choice of secure payment methods: onsite, online, mobile, and invoicing.

Whether you’re an up-and-comer or an established pro, U.S. Bank Payment Solutions offer merchant card processing services that adjust to the way your business operates. Plus, customer service is available 24/7, 365 days per year.

Get a point-of-sale (POS) system customized for your business through U.S. Bank. With a POS system, you can accept credit, debit, and contactless payments through a range of in-store, on-the-go, and online solutions.

With Everyday Funding, available at no charge with a U.S. Bank Business checking account, you can receive funds within hours of a batch settlement seven days a week, including holidays and weekends.

It’s the convenience and expertise you can expect when you open a U.S. Bank Merchant Services account.

Contract lengths have no minimum term with the ability to cancel at any time. There are also no early termination fees.

How to Get 2.50% Back On Transactions Through The End of 2024 (Promo begins August 01, 2023)

Here’s how you can qualify for the 2.50% Back Monthly offer:

The 2.50% Back Monthly offer will be credited to your merchant statement by the following month’s billing cycle. Note that the 2.50% Back Monthly offer is based on Built Around You pricing fees from swiped, inserted/dipped, tapped, keyed, and e-commerce credit and debit transactions.

The monthly 2.50% back on transaction fees will end on December 31, 2024. The final credit will appear on the December 2024 billing cycle.

This promotional offer is available for the establishment of a new payment processing account for new and existing U.S. Bank customers not currently using Elavon for merchant processing services.

U.S. Bank Merchant Services accounts (MIDs) must be in open status, actively processing, and be on Built Around You pricing at the time of the monthly incentive credit. U.S. Bank and/or Elavon, a U.S. Bank company, reserves the right in its sole discretion to modify, suspend, or terminate the promotion at any time. Restrictions may apply.

Summary of Best Checking Account Bonuses

If you live in a region served by one of the brick-and-mortar banks, this can be a fun way to add some extra cash to your wallet. Banks may only offer these banks to new customers. If you can achieve the bonus offer requirements, it can be worth opening a new bank account. Hopefully one of these best checking account bonus options works for you.


Which banks offer a bonus for opening an account?

Most national banks offer one-time signup bonuses for new bank customers. It’s possible to earn bonuses for opening new checking and savings accounts. How much you can earn depends on which account you open and the bonus requirements.

For instance, offers that require larger initial deposits or direct deposits tend to offer higher bonus payouts.

Some of the banks to consider looking at first include:

  • Chase
  • Citi
  • Bank of America
  • Wells Fargo
  • PNC
  • Fifth Third Bank
  • US Bank
  • HSBC
  • TD Bank
  • SoFi

You are less likely to find bonus offers for online-only banks. However, it’s easier to avoid the ongoing fees that traditional banks usually charge.

Are the best checking account bonuses taxable?

Yes, any bonus cash you earn from a checking account or savings accounts signup offers is taxable income. When your bank sends you a Form 1099 tax form to report your taxable interest earned for the calendar year, this form will include your bonus cash too.

Paying income tax is one downside of checking account bonuses. To avoid this tax, you may focus on earning credit card signup bonuses which are not subject to taxes under current tax rules.

Which bank is best to open a checking account?

The best bank to open a checking account mostly depends on where you live. Most brick-and-mortar banks require you to enter your zip code to see your available account options. For example, you may live in an area served by Chase Bank but not by Bank of America.

To easily avoid fees, consider joining an online bank like Capital One 360 or Discover Bank. If you don’t need local branch access, this is a free way to get a debit card and have a place to enroll in direct deposit.

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