Best Bank Bonuses for June 2024

If you’re planning to open a new checking or savings account, look for options that offer sign-up bonuses for new customers. These bank bonuses can provide sizable cash deposits after you meet certain requirements.

For this article, we at the MarketWatch Guides team looked at more than 40 bank accounts that regularly offer welcome bonuses, including online checking accounts and savings accounts. We picked the five best offers based on their bonus amounts, their requirements and ratings from our reviews of the best checking accounts and the best savings accounts.

Our picks for the best bank bonuses range from$200 to $900, and they come from both online banks and traditional banks. Respondents from our latest MarketWatch Guides banking survey said the most important feature for both checking and savings accounts was no or low fees. While some of our recommended bank accounts have monthly service fees, most ongoing charges can be waived if you meet certain terms.

Chase Bank: Earn up to $900

4.0

Bonus Deposit Requirements:
Must receive at least $500 in eligible direct deposits within 90 days of opening your account

Bonus Amount Up to $900 Monthly Account Fees Up to $12 Minimum Opening Deposit $0

Chase Bonus Details

Chase is offering checking and savings sign-up bonuses** for new customers until July 24, 2024:

Chase Checking Account Bonus

Earn a $300 bonus for opening a Chase Total Checking account and setting up a direct deposit for any amount within 90 days.

Chase Savings Account Bonus

Earn $200 for opening a Chase Savings account, funding it with at least $15,000 in new money within 30 days and maintaining that minimum balance for 90 days.

Chase Checking and Savings Account Bonus

Earn $400 if you qualify for both the checking and savings bonuses, bringing your total bonus to $900.

If you meet these requirements, Chase will deposit the bonus within 15 days after the initial 90-day period.

	Chase Total Checking Bonus	Chase Savings  Bonus	Details of Total Bonus
Bonus Amount	$300	$200	Up to $900 (including $400 for qualifying for both checking and savings bonuses)
Bonus Deposit Requirements	Direct deposits of any amount within 90 days	Deposit $15,000 or more in new money within the first 30 days and maintain a $15,000 minimum balance for 90 days	Meet requirements for both accounts
Monthly Account Fees	$12*	$5**	N/A
Account Minimum Opening Deposit	$0	$0	N/A
Offer Ends	July 24, 2024	July 24, 2024	July 24, 2024

*Waived if requirements for direct deposit or minimum account balances are met
**Waived if requirements for age, minimum account balance or checking account activity are met

Pros and Cons

Pros Large combined bonus: This Chase checking and savings bonus is the largest bank bonus on our list. Easy-to-earn checking bonus: There’s no minimum direct deposit amount to earn the bonus for Chase Total Checking. Cons High deposit for savings bonus: To earn the Chase Savings bonus, you’ll have to maintain a $15,000 minimum balance for 90 days. Low savings rate: The Chase Savings account has a low annual percentage yield (APY) compared to SoFi, which is also on our list of the best bank bonuses.

Chase Financial Products

We rate Chase Bank 4 out of 5 stars overall. Chase has eight checking accounts and three savings accounts, as well as certificates of deposit (CDs), home and auto loans, investment services and credit cards. It has more than 4,700 branches and 15,000 ATMs in 48 states, and it’s the largest bank in the country by assets. Read our complete review of Chase Bank for more information.

Wells Fargo: Earn up to $850

3.8

Bonus Deposit Requirements:
Must receive at least $1,000 in eligible direct deposits within 90 days of opening the account

Bonus Amount Up to $825 Monthly Account Fees Up to $12 Minimum Opening Deposit $25

Wells Fargo Bonus Details

Wells Fargo Checking Account Bonus

Wells Fargo is offering a $300 bonus for new consumer checking customers who: 

• Open an Everyday Checking account with a minimum deposit of $25
• Receive a total of $1,000 or more in qualifying electronic deposits within 90 days

All consumer checking accounts are eligible for the bonus except for those from Wells Fargo Private Bank. Once you meet the bonus requirements, the money will be deposited in your account within 30 days. This bonus is available through June 25, 2024.

Wells Fargo Savings Account Bonus

If you have more money to deposit, you may be eligible for Wells Fargo’s $525 bonus for new savings customers. To qualify, you must:

• Open a new consumer savings account with a minimum deposit of $25
• Deposit $25,000 or more in new money within 30 days
• Maintain a $25,000 minimum balance for at least 90 days

All consumer savings accounts are eligible for this bonus except for CDs and savings accounts from Wells Fargo Private Bank. You must open your savings account at a Wells Fargo branch to get this bonus, and the offer expires on July 9, 2024. The bonus will be added to your account within 30 days after you qualify.

	Everyday Checking Bonus	Savings Bonus
Bonus Amount	$300	$525
Bonus Deposit Requirements	Must receive $1,000 or more in eligible electronic deposits within 90 days of opening the account	Must deposit $25,000 or more  in new money within 30 days and maintain a $25,000 minimum balance for 90 days
Monthly Account Fees	$10*	$5 to $12**
Account Minimum Opening Deposit	$25	$25
Offer Ends	June 25, 2024	July 9, 2024

*Waived if requirements for age, deposits, minimum account balance or linked accounts are met
**Waived if requirements for age, transfers, minimum account balance or linked accounts are met

Pros and Cons

Pros Large combined bonus: If you qualify for both checking and savings bonuses, you could earn $825. Waivable checking fees: It’s easy to get some Wells Fargo monthly account fees waived if you’re 24 years old or under or if you meet minimum balance or deposit requirements. Cons High deposit requirement: To earn the Wells Fargo savings bonus, you’ll have to deposit $25,000 or more and maintain a balance of at least $25,000. Low APYs: For balances below $100,000, Wells Fargo’s savings accounts offer below-average rates.

Wells Fargo Financial Products

We rate Wells Fargo 3.8 of 5 stars overall, adding points for it having more than 4,500 branches and 11,000 ATMs in 36 states, high customer ratings for its mobile bank app and features such as Zelle. We’ve subtracted points for the bank’s fees and lack of cash-back rewards.

In addition to checking and savings accounts, Wells Fargo offers CDs, credit cards, investing accounts and home, auto and personal loans. Read our complete Wells Fargo review for more checking and savings account features.

U.S. Bank: Earn up to $700

4.0

Bonus Deposit Requirements:
Must deposit at least $5,000 in monthly qualifying direct deposits and maintain a $7,000 minimum average daily balance for seven months to earn the full bonus

Bonus Amount Up to $700 Monthly Account Fees Up to $6.95 Minimum Opening Deposit $25

U.S. Bank Bonus Details

U.S. Bank is offering a checking account bonus of up to $500 and a savings account bonus of $200, making its potential bonus offer a total of up to $700.

You must enter the code “2024APR” on your applications if you open these accounts through a page other than the linked offer page.

U.S. Bank Checking Account Bonus

When you open a new U.S. Bank Smartly Checking account with a minimum deposit of $25, you can earn one of the following bonuses when you make two or more direct deposits and enroll in the U.S. Bank mobile app or online banking within 90 days:

• Earn $100 with direct deposits totaling $3,000 to $4,999.99.
• Earn $300 with direct deposits totaling $5,000 to $9,999.99.
• Earn $500 with direct deposits totaling $10,000 or more.

The bank will credit your bonus within 60 days after the end of the month in which you meet the requirements.

U.S. Bank Savings Account Bonus

When you open a new U.S. Bank Standard Savings account with a minimum deposit of $25, you can earn $200 by following these steps:

• Deposit at least $15,000 in new money into the account by July 17, 2024.
• Maintain a minimum account balance of $15,000 through Oct. 31, 2024.

Your bonus will be credited to your account within 30 days after the month in which you meet all requirements.

	U.S. Bank Smartly Checking Bonus	U.S. Bank Standard Savings Bonus
Bonus Amount	$100 bonus with total direct deposits of $3,000 to $4,999.99 $300 bonus with total direct deposits of $5,000 to $9,999.99 $500 bonus with total direct deposits of $10,000 or more	$200
Bonus Deposit Requirements	Must make two or more direct deposits and enroll in the U.S. Bank app or online banking within 90 days	Must deposit at least $15,000 in new money by July 17, 2024, and maintain a minimum account balance of $15,000 through Oct. 31, 2024
Monthly Account Fees	$6.95*	$5 ** $4**
Account Minimum Opening Deposit	$25	$25
Offer Ends	June 27, 2024	July 17, 2024

*Waived if requirements for direct deposit, account balance or credit card are met
**Waived if requirements for age, account balance or rewards program membership are met

Pros & Cons

Pros Large checking bonus: The U.S. Bank Smartly Checking offers the largest checking account bonus on our list at up to $500. Easy to apply: You can open either account online, by phone or in a U.S. Bank branch. Cons High deposit amount: To qualify for the highest checking bonus, you must fund your account with $10,000 or more in total direct deposits. High balances required: To earn the full bonus, you’ll need to maintain a $15,000 balance in your savings account.

U.S. Bank Financial Products

We rate U.S. Bank 4 out of 5 stars. It earns points for its wide selection of financial products and customer service but loses points for its limited number of ATMs (about 4,500) and the fact that it only has branches in 26 states. U.S. Bank is the fifth–largest bank in the country by assets and has over 2,200 branches.

In addition to deposit accounts, the bank provides credit cards, investing accounts and personal, home and vehicle loans. Its mobile app is highly rated, getting 4.8 out of 5 stars in the App Store and 4.7 out of 5 stars in Google Play. Read our complete U.S. Bank review for more details on its checking and savings accounts.

PNC Bank: Earn up to $400

4.1

Bonus Deposit Requirements:
Must receive total qualifying direct deposits of at least $500 in a linked Spend account within 60 days of opening your account online

Bonus Amount Up to $400 Monthly Account Fees Up to $25 Minimum Opening Deposit $0

PNC Bank Bonus Details

PNC Checking Account Bonus

PNC Bank is offering two checking account bonuses up to $400**. for new account holders. However, customers can only take advantage of one of these offers:

• Earn $200 when you open a new Virtual Wallet with Performance Spend account and direct deposit $2,000 or more within the first 60 days.
• Earn $400 when you open a new Virtual Wallet with Performance Select account and direct deposit $5,000 or more within the first 60 days.

Both offers are available through July 1, 2024, and only available in select ZIP codes. If your account remains open and in good standing, PNC will deposit the bonus within 60 to 90 days after requirements are met.

	Virtual Wallet With Performance Spend Bonus	Virtual Wallet With Performance Select Bonus
Bonus Amount	$200	$400
Bonus Deposit Requirements	Total qualifying direct deposits of at least $2,000 in a linked Spend account within 60 days of opening your account	Total qualifying direct deposits of at least $5,000 in a linked Spend account within 60 days of opening your account
Monthly Account Fees	$15*	$25*
Account Minimum Opening Deposit	$0	$0
Offer Ends	July 1, 2024	July 1, 2024

*Waived if requirements for employment, direct deposit or account balances are met

Pros and Cons

Pros Low minimum deposit: PNC’s $200 bonus only requires $2,000 in direct deposits, while U.S. Bank’s bonuses require at least $3,000. Two bonus options: You have two checking account bonuses to choose from depending on how much you’re able to deposit. Cons High monthly fees: The PNC Bank checking accounts have the highest monthly fees out of the banks on our list, and getting the fees waived requires large direct deposits or account balances. Possible wait for payment: Once you meet the bank bonus requirements, it can take up to 90 days to receive the money.

PNC Bank Financial Products

PNC earns 4.1 out of 5 stars in our banking review. It gains points for its many product offerings but loses points for having limited customer service options.

PNC is a traditional bank with deposit accounts, loans, investment services and several credit cards. There are more than 2,300 PNC branches in 28 states and Washington, D.C., and around 60,000 PNC and partner ATMs. Read our complete review of PNC Bank to get more information on checking and savings account features.

SoFi: Earn up to $300

Great for High-Yield Checking and Savings Account

4.5

Bonus Deposit Requirements:

• $50 cash bonus for total direct deposits of $1,000 to $4,999.99 during the bonus period


• $300 cash bonus for total direct deposits of $5,000 or more during the bonus period

Bonus Amount Up to $300 Monthly Account Fees $0 Minimum Opening Deposit $0

SoFi Bonus Details

SoFi Checking and Savings Bonus

SoFi is offering a sign-up bonus of up to $300** for new SoFi Checking and Savings account holders, as well as existing members who’ve never enrolled in direct deposit. You could receive one of these bonuses:

• Earn $50 with direct deposits totaling $1,000 to $4,999.99.
• Earn $300 for direct deposits totaling $5,000 or more.

Direct deposits must be made within a 25-day period that begins when you receive the first deposit in your SoFi combined checking and savings account.

To earn either account bonus, you must receive qualifying direct deposits by June 30, 2024. You’ll receive your bonus within seven business days after the 25-day period.

	SoFi Checking and Savings Bonus
Bonus Amount	$50 or $300
Bonus Deposit Requirements	$50 cash bonus for direct deposits totaling $1,000 to $4,999.99 during the 25-day bonus period $300 cash bonus for direct deposits totaling $5,000 or more during the 25-day bonus period
Monthly Account Fees	$0
Account Minimum Opening Deposit	$0
Offer Ends	June 30, 2024

Pros and Cons

Pros No fees: SoFi’s checking and savings account doesn’t have any monthly fees. Earn interest: Both parts of the account have high APYs that are above national averages. Cons May be hard to earn the full bonus: You’ll need to receive direct deposits of $5,000 or more within the 25-day bonus period to earn the $300 cash bonus. Online only: SoFi is an online-only bank, so you won’t be able to open or manage your account in person.

SoFi Financial Products

We give SoFi 4.5 out of 5 stars overall in our banking review. It earns points for its A+ rating from the Better Business Bureau (BBB) and for giving customers access to more than 55,000 free ATMs. However, it loses points because it’s an online-only bank with limited product offerings (it doesn’t have CDs or money market accounts). It does offer a wide range of other financial products, including student loan refinancing and mortgages.

With the SoFi Plus program, checking and savings account holders who have qualifying direct deposit activity can get perks such as discounts on personal loan rates.

To find sign-up bonuses and other banking promotions, use our list, do a web search or visit bank and credit union websites. Other options include checking advertisements and contacting financial institutions. Here are some sites you should also check:

• Reddit’s Bank Bonus Weekly Thread
• Doctor of Credit
• Bankrewards.io

Make sure any financial institution you choose is insured by the Federal Deposit Insurance Corp. (FDIC) or the National Credit Union Administration (NCUA), which protect against losses of up to $250,000 per depositor, ownership category and financial institution in the event of bank or credit union failure, respectively. Look for “member FDIC,” “FDIC insured” or “NCUA insurance.”

When comparing offers, note the bonus amounts, promotional deadlines and eligibility restrictions. Make sure you meet any terms for direct deposit or automated clearing house (ACH) transfers and that you can maintain any minimum balance during the offer period. Read the fine print about any qualifying transactions, as well as account activity that could make you ineligible for a bonus.

Finding the right bonus offer also involves looking at an account’s features. It’s ideal to pick an account with low fees, along with incentives such as high interest rates and rewards.

The main advantage of bank account bonuses and promotions is that they give you extra cash. Along with earning a sign-up bonus for opening a new account, you could get debit card rewards or earn interest. Your bank might offer additional money-saving perks, such as fee waivers or discounted loan rates.

Plus, you could find that meeting the bonus requirements helps you build financial discipline. That’s because you may need to set up direct deposits, move a large lump sum to the account or maintain a minimum balance. By continuing good habits, you might manage your money better even after the bonus period.

Ask an Expert

Brandon Renfro

Ph.D., CFP, RICP, EA

“Bank bonuses can be a nice perk if you’re searching for somewhere to open a new account. However, don’t let them distract you from longer-term considerations such as ongoing costs or features.”

However, there are drawbacks to sign-up bonuses for bank accounts. For example, they count as taxable income. Banks may report this income to the IRS, usually via forms 1099-INT or 1099-MISC.

If you’re only pursuing a new account for a sign-up bonus and not factoring in potential interest, reward earnings or other perks, then opening a new account might not be worth it, especially if it comes with strict requirements.

By comparing bank promotions and considering how easily you can meet their requirements, you could earn extra cash. Just don’t forget important account factors such as accessibility, fees and additional incentives.

Always read the fine print, and note the qualifying activities and deadlines for earning the bonus. Contact the bank’s customer service department for help if you don’t understand the requirements. When you apply for your new account, use the promo code or special link the bank provides.

Our team researched more than 100 of the country’s largest and most prominent financial institutions, collecting information on each provider’s account options, fees, rates, terms and customer experience. We then scored each firm based on the data points and metrics that matter most to potential customers. Read our full methodology.

• Savings and money market accounts (35% of total score): The best scores go to banks, loans and fintech companies with high interest rates and low or no fees or minimum opening deposits.
• Checking accounts (30% of total score): High marks are given to those with multiple accounts and minimal fees, plus benefits such as reward programs and mobile check deposit.
• Certificates of deposit (20% of total score): Top-rated financial institutions have low or no minimum opening deposits, as well as a variety of term options and specialty CDs for flexibility.
• Banking experience and access (15% of total score): Providers that excel in this category have large branch and ATM networks and multiple checking and savings accounts, and they earn more points for offering CDs and money market accounts.

*Data accurate at time of publication

**Rates and promotions accurate as of June 19, 2024. Promotions may vary by location. Rates and promotions are for New York (Chase), San Francisco (Wells Fargo), Minneapolis (U.S. Bank) or Pittsburgh (PNC Bank).

Editor’s Note: Before making significant financial decisions, consider reviewing your options with someone you trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.