The 12 Best Bank Promotions of November 2024
Best for High APY
SoFi® Checking and Savings
- Up to 4.20% APY
- Early paycheck access
Up to $300
Bonus amount
Best Credit Union Bonus
Alliant Credit Union
- Up to 4.80% APY on CDs
- Fee-free HYSA account
Up to 4.80%
CD APY
Best for Basic Checking
Chase Total Checking Account
- In-person banking
- Easy-to-waive fee
$300
Bonus amount
So, you’re looking for a new bank account.
You’ve got several factors to consider — ATM access, interest rates, monthly account fees, minimum balances, online bill payments and more.
Another factor: sign-up bonuses. Banks and credit unions frequently run promotions to entice prospective customers to open a new account — and they often come with cash. You have to meet specific criteria, such as making a minimum opening deposit, and generally, the account must remain open for a certain amount of time — at least long enough to earn the cash bonus.
Many banks offer such sign-up bonuses, but often, they aren’t advertised. We did some digging to find the best bank promotions currently on offer.
Best Bank Account Bonuses of November 2024
Keep an eye on what each promotion requires and any limitations. Recurring direct deposits and maintaining a minimum balance are common requirements for securing bank bonuses. Also,, pay attention to monthly maintenance fees; over time, these could easily exceed a one-time cash bonus.
13 Bank Promotions That Give You Cash
Bank Promo Payoffs Up to $600
| BANK | TOP FEATURE | BONUS | |
|---|---|---|---|
SoFi Checking and Savings |
High APY |
Up to $300 |
SEE DETAILS |
Alliant Credit Union Jumbo CD |
High APY CD |
Up to 4.80% |
SEE DETAILS |
Chase Total Checking Account |
Fees may be waived |
$300 |
SEE DETAILS |
Chime Referral Bonus |
No monthly fees |
$100 |
SEE DETAILS |
Huntington Perks Checking |
Quick cash bonus payout |
$400 |
SEE DETAILS |
Huntington Platinum Perks Checking |
Interest on checking |
$600 |
SEE DETAILS |
M&T Bank EZChoice Checking |
No monthly fees |
$200 |
SEE DETAILS |
M&T Bank MyChoice Plus Checking |
Discounted loan rates |
$200 |
SEE DETAILS |
M&T Bank MyChoice Premium Checking |
Premium CD rates |
$200 |
SEE DETAILS |
Fifth Third Momentum Checking |
No hidden fees |
$375 |
SEE DETAILS |
Wells Fargo Everyday Checking |
Easy in-person banking |
$300 |
SEE DETAILS |
Capital One 360 Checking Account |
No overdraft fees |
$350 |
SEE DETAILS |
SoFi Checking and Savings Account
- Up to 4.20% APY
- Fee-free overdraft coverage
- Early access to paycheck
SoFi’s online bank account certainly rewards members for spending and saving. The account, which doubles as a checking and savings account, allows you to organize your savings into vaults so you can work toward your goals. You’ll earn up to 4.20% APY on money in savings and up to 0.50% on checking funds. The bonus is tiered; to get the full $300 bonus, make sure your qualifying direct deposits total $5,000 or more.
Alliant Credit Union Jumbo CD
- Earn up to 4.80% APY on CDs
- Fee-free HYSA
Good luck finding a bank that’ll pay you up to 4.80% APY like an Alliant Credit Union Jumbo 12-month certificate can.
It only takes a few minutes to apply to open an Alliant certificate completely online. Choose from a variety of terms from 3 to 60 months, deposit a minimum of $1,000, then sit back and watch your money compound monthly with an APY as high as 4.80% for a 12-month term.
Worried about needing access to your savings before your certificate matures? Alliant also offers a fee-free high-yield savings account that’ll earn you 3.10% APY — you can easily transfer your money at any time with no penalties. Open your account and deposit as little as $100 to start earning interest. Elect to receive eStatements, and you won’t pay any monthly fees, either.
Rest easy knowing that with Alliant, both our certificate and high-yield savings account are federally insured by NCUA up to $250,000. This means your money is not just safe, it’s super safe.
Ready to grow your savings faster than the average bank? Head over to Alliant’s website and choose either a certificate of deposit or a high-yield savings account to get started.
APY= Annual Percentage Yield. The APY is accurate as of the 3/25/2024 dividend declaration date. A $ 1,000 minimum deposit is required to open a Regular Alliant Certificate. For those with a larger deposit, a $75,000 minimum deposit is required to open an Alliant Jumbo Certificate. If your Jumbo Certificate balance falls below $75,000, it will convert to a Regular Alliant Certificate, which may pay a lower rate. You must be an Alliant member. Alliant Certificates are available as Regular Share Certificates and Jumbo Share Certificates. Both Regular and Jumbo Certificate types are also offered as Traditional IRA Certificates, Roth IRA Certificates, and SEP IRA Certificates. Prior to opening an IRA Certificate, you must have or establish an IRA with Alliant. You may not add any additional money to your Certificate after opening. Dividends compound monthly and are paid on the last day of the month and at maturity. A penalty will be imposed for early withdrawal of any principal amount. There are no penalties for monthly dividend withdrawals. Early withdrawal penalties do apply if the Certificate is closed before the maturity date unless the Certificate funds are moved to Alliant Retirement and Investment Services. If you wish to move your Certificate funds to Alliant Retirement and Investment Services, you must wait until 7 days after your Certificate has been opened. Other exceptions to early withdrawal penalties may be allowed. Monthly dividend withdrawals are not eligible on IRA Certificates if owner is under age 59 1/2. Any monthly withdrawals or transfers reduce earnings. If you change the term of your renewed Certificate, the beneficiary(ies) need(s) to be reestablished by completing a Beneficiary Add/Delete Form. (Not applicable to IRA Certificates). The joint owner designated at the time of Certificate opening will remain as joint owner if you renew your Certificate with Alliant. Neither the primary account owner or joint owner may be a beneficiary on the Certificate account. You are not locked into a rate until you open or renew your Alliant Certificate. Alliant Certificate rates may change daily. Fees may reduce earnings on the account.
12-17 months Regular Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.03% – Compounded Annual Percentage Yield of 4.80% APY on balances between $1,000 and $74,999.99. Jumbo Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.08% – Compounded Annual Percentage Yield of 5.20% APY on balances $75,000 or greater. IRA Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.03% – Compounded Annual Percentage Yield of 4.80% APY on balances between $1,000 and $74,999.99. Jumbo IRA Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.08% – Compounded Annual Percentage Yield of 5.20% APY on balances $75,000 or greater.
The savings dividend provides an Annual Percentage Yield (APY) of 3.10%. The APY is accurate as of the 3/25/2024 dividend declaration date. Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividends may change after the account is opened and is subject to change at any time. Dividend applies to Savings, Supplemental Savings, Emergency Savings, Kids Savings Accounts, UTMA Custodial Accounts, Trust Accounts, and IRA. Fees may reduce earnings on the account.
Chase Total Checking
- $12 monthly fee
- Fee waived by meeting conditions
- Basic checking
New Chase customers enjoy a $300 welcome bonus when opening a Chase Total Checking account with direct deposit. And you get automatic transfers to a Chase savings account, along with access to 15,000 Chase ATMs* and more than 4,700 branches.
Another plus is this account offers Chase Overdraft Assist to protect you from overdrafts. if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day.
*$3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply. $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply.
Capital One 360 Checking
- No overdraft fees
- Leading mobile app
- Earns interest
Capital One was one of the first major banks to do away with overdraft fees; in fact, the 360 Checking account has no hidden fees at all. It even earns 0.10% interest. There are no foreign transaction fees for the debit card, and you can open an account in as little as 5 minutes.
Huntington Perks Checking
- Easily waivable monthly fee
- Only available in certain states
- Quick cash bonus payout
Huntington’s Perks Checking account pays out nominal interest (0.02%), but the easily waivable monthly maintenance fee makes it appealing for an easy checking account. Key features include mobile banking, five fee-free out-of-network ATM withdrawals, the No Overdraft Fee $50 Safety Zone and the 24-Hour Grace Overdraft and Return Fee Relief.
“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.
Huntington Platinum Perks Checking
- $25 monthly fee (can be waived)
- Interest-earning checking
- Quick cash bonus payout
While the Huntington Platinum Perks account does have a monthly $25 fee, you can waive it by having $25,000 across accounts with Huntington. By upgrading to this account, you’ll get a higher bonus, get unlimited fee-free ATM withdrawals and earn 0.03% interest on your balance.
“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.
M&T Bank EZChoice Checking
- No monthly maintenance fees
- Unlimited check writing
- Physical branches
M&T Bank has more than 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.
M&T Bank MyChoice Plus Checking
- Discounted loan rates
- ATM fee reimbursement
- Interest-bearing options
M&T Bank has more than 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.
M&T Bank MyChoice Premium Checking
- Discounted loan and premium CD rates
- ATM fee reimbursement
- Interest-bearing checking
M&T Bank has more than 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.
Fifth Third Momentum Checking Account
- No monthly or hidden fees
- Early access to paycheck
- Overdraft avoidance feature
Fifth Third’s checking account boasts immediate funds for all check deposits (fees apply), Extra Time for overdraft fee avoidance, early paycheck access, no minimum balance and no hidden fees. The account also offers basic fraud protection services and unlimited check writing.
Wells Fargo Everyday Checking
- Monthly fee (can be waived)
- 4,700 in-person branches
- Contactless debit card
In a world where consumers can get high-interest checking accounts with huge networks of ATMs and unique features, Wells Fargo is not very appealing. But if you like a traditional banking experience and an easy-to-navigate mobile app, Wells Fargo could be for you. Plus, the $300 bonus is nothing to sneeze at.
PSECU
- 85,000 fee-free ATMs
- Overdraft protection
Here’s the deal: If you’re not banking with a credit union called PSECU, you’re missing out on extra cash. And who doesn’t want extra cash right now?
PSECU will give you $300 after just a few months of keeping your money there* That’s $300 just for banking normally.
Opening a checking account is free, and there’s no minimum deposit or fees. Plus, there are more than 85,000 surcharge-free ATMs and rebates for non-network ATMs. You’ll also get no-fee overdraft protection if you have a backup source of funds.
Credit unions sometimes have waitlists, but PSECU doesn’t right now. Apply to join PSECU here and start earning your $300 in free cash (offer ends Dec. 31, 2024 ).
**Your first $200 is available when you sign up with promo code RightNote and set up a direct deposit of at least $500 monthly. You’ll get another $100 if you maintain the minimum direct deposit amount for three months in a row.
How to Search for Bank Account Bonuses on Your Own
Instead of listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.
But maybe you’re interested in banking with your local credit union, opening a small business checking account, or exploring investment accounts. These accounts often offer cash bonuses.
Banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.
- Check the bank website first. Sometimes, it advertises its offers with a blaring promo code. This is rare, but it’s worth a quick check—it could save you a ton of time.
- Reach out to customer service. Let them know you’re shopping for a new account, and you’d like to know if the bank is running any promotions. More often than not, the nice representative will send you a special link.
- Google the best bank account bonuses. You’ll likely dig up some offers from third-party sites, so make sure the offer:
- Hasn’t expired.
- Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. Read some online reviews.
- Doesn’t require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000.
- Reach out to your own network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.
Overall, be smart. Don’t let the promise of a cash bonus blind you. Read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties.
Will Opening a Bank Account Hurt Your Credit Score?
If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and, therefore, have no effect on your credit score unless you have an outstanding negative balance that the bank turns over to a collection agency.
Sometimes when you go to open a new bank account, banks will do a soft credit check. However, that won’t affect your credit score.
If you open a new credit card with a sign-up bonus, however, the application alone can impact your score. And, of course, spending with the card can help or hurt your credit score, depending on how you use it.
*SoFi® Checking and Savings (member FDIC):
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.20% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
3. Fee Policy
Our account fee policy is subject to change at any time.
4. Additional FDIC Insurance (must be bolded)
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms. See the list of participating banks at SoFi.com/banking/fdic/receivingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled
payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting e(i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Timothy Moore covers bank accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.
Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
