End of Content.

    Our editorial team is independent and objective. To help support our review work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Bankiful site. This site does not include all companies or products available within the market.

    We also include links to advertisers’ offers in some of our articles; these “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content.

    While we work hard to provide accurate and up to date information that we think you will find relevant, Bankiful does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Here is a list of our partners who offer products that we have affiliate links for.

    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:August 24, 2023
    bank-bonus-offers

    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.

    Top Banks With Direct Deposit Bonus Offers

    1. SoFi Checking & Savings Account - $275 Bonus

    Social Finance (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 $275
    Requirements: Open a new SoFi Checking and Savings account (or be an existing SoFi customer who hasn’t made direct deposits before) on the offer page. Make at least one direct deposit in any amount. Deposit $1,000 to $4,999.99 to earn a $50 bonus or deposit $5,000 or more to earn a $250 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 4.50% APY on their savings balances, and 1.20% APY on their checking balances.
    Initial Opening Deposit: $100
    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

    Axos Bank® Rewards Checking - $150 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 SUNNYBONUS, fund the account within 30 days of opening, make direct deposits totaling at least $7,000 each calendar month for the first seven months from account opening, and have and maintain an average daily balance of at least $15,000 from September 2023 through March 2024. Within the first seven statement cycles you’ll earn $50 each month (up to six times) by meeting the requirements.
    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

    3. 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

    5. Chime

    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 0.30% APY according to the FDIC while you can earn up to 4.00% APY with online savings accounts.

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

    Best online savings rates

    The national savings rate is 0.42% APY. This online bank pays way more.

    CIT Bank

    Platinum Savings
    5.05% APY
    /Month
    Minimum $5,000 balance
    No maintenance fees
    Mobile & Online Banking
    Deposits are FDIC insured
    Get Started

    CIT Bank

    Savings Connect
    4.65% APY
    /Month
    Minimum $100 balance
    No maintenance fees
    Mobile & Online Banking
    Deposits are FDIC insured
    Get Started

    CIT Bank

    6-Month CD
    5.00% APY
    /Month
    Minimum $1,000 balance
    No maintenance fees
    Mobile & Online Banking
    Deposits are FDIC insured
    Get Started
    Popular Reads

    Trending Content

    Important links

    Blog

    FAQs

    Advertiser Disclosure

    Privacy Policy

    California Privacy Policy

    Terms of Service

    Company

    About Us

    Advertising Partners

    Editorial Guidelines

    Contact

    contact@bankiful.com

    Disclaimer: Our goal is to provide the most relevant and current information. However, the information is for informational purposes only and is not intended to be personal financial advice.

    © 2023 Bankiful.com All rights reserved.