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Top Banks With Direct Deposit Bonus Offers

Compare offers from different banks and find the one that gives you the biggest bonus.

Written by:Staff
Updated:January 14, 2025

Many banks offer a direct deposit bonus to new customers that open a new checking account. However, most checking account bonus offers are typically restricted to the location where the bank does business.

Luckily there are online banks doing business nationwide that offer a way for everyone, no matter where you are in the United States, to get some free cash just by opening a new bank account.

Discover the best bank bonuses for this month and use your direct deposit to earn a bonus.

Top Banks With Direct Deposit Bonus Offers

1. SoFi Checking & Savings Account - $325 Bonus

SoFi Bank has a range of offerings from bank accounts, loans, credit cards to investment products. SoFi is one of few banks that offers FDIC-insurance up to $2 million dollars.

Bonus Offer: Up to $325

Requirements: Open a new SoFi Checking and Savings account with a $10 deposit and receive a $25 bonus. To get an additional bonus up to $300, make at least one direct deposit of $1,000 to $4,999.99 to earn a $50 bonus or deposit $5,000 or more to earn a $300 bonus.

Earn Interest: When you sign up for a SoFi online bank account, you will receive both a checking and savings account. Members with direct deposit can earn 4.60% APY on their savings balances, and 1.20% APY on their checking balances.

Initial Opening Deposit: $10

More Features:

No monthly maintenance fees

Mobile App to deposit checks, transfer money, pay bills, and monitor account activity

Access 55,000 Free ATMs in the Allpoint network

Get paid up to two days early with direct deposit

Up to 15% cash back on common everyday expenses at participating local retailers like grocery stores, monthly subscriptions, and restaurants.

FDIC insured up to $2M

Get Started

2. Upgrade Rewards Checking Plus - $150 Bonus

Upgrade® is a financial technology company, not a bank. Rewards Checking Plus services provided by Cross River Bank, Member FDIC. Upgrade provides a range of financial services including checking accounts, credit cards and personal loans,

Bonus Offer: $150

Requirements: New customers qualify for a bonus by making direct deposits totaling $1,000 by 45 days post account opening.

Earn Interest: Add a Performance Savings account to earn 5.07% APY with an active checking account and a monthly $1,000 direct deposit.

Initial Opening Deposit: $0

Their Rewards Checking Plus account earns 2% cash back on specific types of purchases and 1% cash back on all other purchases.

$0 Opening Deposit

No monthly fees

Up to 2% cash back on purchases¹

Get paid up to 2 days early²

Add Performance Savings to earn up to 5.07% APY³

Deposits are FDIC insured

Get Started

3. Axos Bank® Rewards Checking - $300 Bonus

Axos Bank got its start in 2000 as the Bank of the Internet USA offering a basic checking account. Today Axos Bank offers full-service banking products including checking, savings, personal loans, auto loans, HELOCs, and investing products.

Bonus Offer: $300

Requirements: Use promo code AXOS300, fund the account within 30 days of opening, make direct deposits totaling at least $5,000 each calendar month for the first seven months from account opening, and have and maintain an average daily balance of at least $7,000 from September 2023 through March 2024 to receive your new welcome bonus.

Initial Opening Deposit: $50

More Features:

No monthly maintenance fees

$50 Opening Deposit

No overdraft or non-sufficient fund fees

Unlimited domestic ATM reimbursement fees

Deposits are FDIC insured

Get Started

4. Chime -$100 Bonus

Best for Credit Building

Chime is not a bank, it is a financial technology company. Founded in 2013 by Chris Britt and Ryan King, Chime’s mission statement says they are focused on “building a new kind of bank account that helps members get ahead by making managing money easy.”

Bonus Offer: $100

Requirements: New customers qualify for a bonus by setting up a direct deposit of $200 or more from a payroll provider within 45 days of opening the account.

Build Credit: For customers that need to build credit, Chime has a credit builder secured card that does not require a credit check or security deposit.

Open with a $0 minimum deposit.

No maintenance fees

Customers have access to over 90,000 fee-free ATMs

Mobile & Online Banking

Earn 2.00% APY if you open the Chime Savings account.

FDIC-insured through The Bancorp Bank, N.A. or Stride Bank, N.A.

Get Started

How To Choose A Bank?

Banks offer many different types of accounts for people of all ages and income levels. It’s important to consider several factors when choosing a bank, including fees, interest rates, and other features.

Consider the type of account you want (checking, savings, money market, etc.), whether you want online banking, and any other special feature like unlimited free ATM transactions.

Fees are also important to consider. Many banks charge monthly maintenance fees, so make sure you understand what those fees will cost before opening an account.

Final thoughts

Banks want your money and are willing to pay you to get it.

When you couple a bank bonus offer with a full-service online bank, you'll have a great place to grow your money with typically higher interest rates. Online banks tend to offer higher rates than brick-and-mortar banks because they usually have fewer overhead costs.

Currently, the national savings rate is 0.46% APY according to the FDIC while you can earn up to 5.00% APY with online savings accounts.

The bottom line is that when choosing a bank, find one that suits your needs.