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ADVISOR › BANKING › BEST BANK BONUSES AND PROMOTIONS OF OCTOBER 2026

Bonuses And Promotions Of October 2026: Earn Up To $900 In Bonuses

Audited & Verified: Nov 2, 2026, 10:40am

Taylor Medine

Written By Taylor Medine

Staff Writer

Michael Benninger

Fact Checked By Michael Benninger

Staff Editor

HOW WE ANALYZED

To determine the best bank bonuses, we analyzed 161 promotions, considering factors like bonus values and actions required to obtain the bonus. Then, we narrowed down the list by scoring critical features and ranking bonuses from the highest to lowest rating. Read our methodology.

Forbes

25% Bonus value

25% Actions required to obtain bonus

25% Bonus per dollar deposited

13% Days to obtain bonus

7% Account minimums

5% Fees

Quick Dive

​Banks may offer a one-time cash reward for meeting deposit conditions. See our picks for the top bank bonuses and get expert insights on bonus hunting to make sure you’re not leaving money on the table.

Top Editorial Picks Dive into the data

Chase Total Checking® + Chase Savings℠

Chase Total Checking® + Chase Savings℠

Best for Savers

Chase provides a sky-high cash bonus of $900 if you open a checking account with a savings account and deposit a large sum.

Learn More
Capital One 360 Checking Account

Capital One 360 Checking Account

Best for Online-Only Banking

Capital One is worth a look for its Earn $250 bonus on the Capital One 360 Checking Account, which has no monthly fees, no overdraft fees and a user-friendly app available for iOS and Android.

Learn More
SoFi Checking and Savings Account

SoFi Checking and Savings Account

Best for High APYs

SoFi bank accounts feature a straightforward cash bonus program, awarding $50 or $400 if you meet conditions. Plus, accounts have no monthly fees and APYs are significantly higher than the national average.

Learn More
Associated Bank Checking

Associated Bank Checking

Best for High Balances

​Associated Bank Checking offers generous account benefits and the second-highest bank bonus on our list (up to $600) for account owners with high average daily balances.

Learn More
Huntington Perks Checking

Huntington Perks Checking

Best for ATM Fee Reimbursements

Huntington Bank provides Huntington Perks Checking with a generous $400 bonus, and accounts have no monthly fee and provide five free out-of-network fee reimbursements per month.

Learn More
Fifth Third Momentum® Checking

Fifth Third Momentum® Checking

Best for Fast Cash

Fifth Third Momentum® Checking provides a quick $300 bonus for new account holders that can arrive in your account as soon as 10 business days after meeting eligibility requirements.

Learn More
Equity Bank Simply Free Checking and Savings

Equity Bank Simply Free Checking and Savings

Best for No Maintenance or ATM Fees

Equity Bank offers a tidy $400 bonus when you open a checking and savings account and receive qualifying direct deposits. It also has no maintenance or ATM fees to worry about.

Learn More

How We Picked the Best Bank Bonuses and Promotions

Overview

To identify the top bank bonuses, we looked at bonuses from major bank account issuers and evaluated promotion terms and account details across various key categories. We ranked across 15 data points to determine which bonuses and promotions offer the highest reward with attainable eligibility conditions.

Read More

How We Picked the Best Bank Bonuses and Promotions

  • 161 Promotions considered We looked at accounts from top financial institutions.
  • 18 Aspects examined We evaluated each bank bonus on 18 discrete dimensions.
  • 2,800+ Factors considered We analyzed more than 2,800 data points to determine the best bonuses.
Methodology

​To create this list of best bank bonuses, Forbes Advisor examined 161 promotions offered by dozens of financial institutions. These included brick-and-mortar banks, credit unions, online banks and financial technology companies.

​We analyzed each promotion on 15 data points across categories, such as bonus value, direct deposit and transaction requirements, bonus evaluation periods, account minimums, maintenance fees, overdraft fees and ATM access.

​The following is the weighting we assigned to each category:

  • ​Bonus value: 25%
  • ​Actions required to obtain bonus: 25%
  • ​Bonus per dollar deposited: 25%
  • ​Days to obtain bonus: 13%
  • ​Account minimums: 7%
  • ​Fees: 5%

Read More

(25%) Bonus value

(25%) Actions required to obtain bonus

(25%) Bonus per dollar deposited

(13%) Days to obtain bonus

(7%) Account minimums

(5%) Fees

Our Team

​Our team has over a decade of experience reviewing financial products, including checking accounts, savings accounts, money market accounts and more. We’re passionate about helping consumers maximize yields while keeping banking fees as low as possible.

Read More

Taylor Medine

Taylor Medine

Staff Writer

Michael Benninger

Michael Benninger

Staff Editor

Taylor Medine

Taylor Medine is a senior staff writer for Forbes Advisor with over 10 years of experience writing guides and articles that demystify personal finance topics, such as how to repay debt and how to increase yields on banking products. Before joining Forbes Advisor, she freelanced for Experian, Credit Karma, Bankrate and more.

Expertise:

Federal student aid

Student loans

Personal loan

Business loans

Taylor Medine

Michael Benninger

Michael is the managing editor of banking content at Forbes Advisor, with more than 15 years of experience in the personal finance space. His work has been published by Intuit, Insider and the Los Angeles Times, and he’s been quoted by The Street and Yahoo Finance, among other news outlets.

Expertise:

Banking

Checking

Savings

Certificates of deposit

Money market accounts

Michael Benninger

Best Bank Bonuses and Promotions

Below, learn more about each account and why we picked it.

Associated Bank Checking

Associated Bank Checking

5.0 / 5 — Rating · Risk Grade: B+

Best for High Balances

Bonus Amount

$600

Expiration

October 31, 2026

Monthly Maintenance Fee

$0-$25

(waivable)

Our Expert Review

Our testing found that Associated Bank has the best bank bonus for high balances, earning a 5-star rating from our research team. If you live in one of the Midwestern states where Associated Bank operates, you’re eligible to earn a $600 bonus if you maintain a daily average balance of $10,000 or more and meet requirements.

You can choose from three checking accounts: Access Checking (no monthly fee), Associated Bank Balanced Checking ($9 monthly fee) and Associated Bank Choice Checking ($25 monthly fee). Associated Bank customers have access to 30,000 fee-free ATMs, early pay and budgeting tools.

With Associated Bank Choice Checking, you receive two monthly surcharge fee refunds for out-of-network ATMs, up to $20. This account also earns interest, though it’s fairly low at 0.05% APY.

You’ll have to pay a monthly fee for Balanced Checking or Choice Checking, and the requirements to waive those fees may be difficult to meet for some customers.

Pros & Cons
Three checking accounts to choose fromBranches in limited states
Wide ATM networkMonthly fees for two of three accounts
Digital budgeting tools
How to Qualify

Open an Associated Bank Checking account (Access Checking, Balanced Checking or Choice Checking) and set up direct deposit. Within 90 days, receive at least $500 in direct deposits (paychecks, government benefits, etc.).

The average daily balance in your accounts will be calculated on Day 90 (or the previous business day) and will determine your bonus. If you maintain a combined average daily balance of $10,000 or more, you’ll receive $600 within 120 days of account opening.

You could also receive a smaller bonus of $400 for maintaining a balance of $5,000 to $9,999,999, or $300 for maintaining a balance of $1,000 to $4.999.99.

Chase Total Checking® + Chase Savings℠

Chase Total Checking® + Chase Savings℠

4.3 / 5 — Rating · Risk Grade: B+

Best for Savers

Bonus Amount

$900

Expiration

January 27, 2027

Monthly Maintenance Fee

$15; $0 with requirements*

(both waivable)

Our Expert Review

Our testing found that Chase has the best bank bonus for savers, earning a 4.3-star rating from our research team. This bonus is generous if you have a sizeable amount saved, and you can receive it quickly. Chase is a reliable brick-and-mortar option, especially if you value in-person banking and customer service.

The main drawback of this offer is that Chase Savings earns a disappointing APY. If you’d like to maximize the interest you earn on your savings long-term, you’re better off choosing an online bank with a high-yield savings account.

Pros & Cons
Generous offer with a reasonable deposit requirementMust open both a checking and savings account
Wide ATM networkLow APY on savings
In-person banking and customer serviceMonthly fee for both accounts if certain requirements are not met
Convenience of having checking and savings accounts at the same bank
How to Qualify

To qualify, open a new Chase Total Checking® + Chase Savings℠ account at the same time. Visit the offer page to open the accounts or receive a coupon to your email.

After opening your accounts, set up direct deposit with your checking account and receive at least one direct deposit within 90 days. You must also deposit at least $15,000 in new money into your savings account within the first 30 days. This money has to come from an external source, not another Chase account.

Maintain at least $15,000 in the savings account for 90 days after opening your accounts. Once you complete all the requirements for both accounts, you’ll receive the $900 bonus within 15 days.

Huntington Perks Checking

Huntington Perks Checking

4.3 / 5 — Rating · Risk Grade: B+

Best for ATM Fee Reimbursements

Bonus Amount

$400

Expiration

January 15, 2027

Monthly Maintenance Fee

$10

Our Expert Review

Our testing found that Huntington Bank has the best bank bonus for ATM reimbursements, earning a 4.4-star rating from our research team. We like that Huntington offers reimbursements of up to five out-of-network ATM fees each month, which can save you a sizable sum if you draw cash from ATMs often.

Huntington Perks Checking account has no minimum deposit requirement, earns an APY of 0.02% and charges a $10 monthly fee that can be waived with $1,000 in total monthly deposits (or $5,000 in total relationship balances).

Pros & Cons
Reimbursement of up to five out-of-network ATM fees each month$10 monthly fee
Credit score monitoringLow APY
No minimum deposit requirement
How To Qualify

To qualify for the $400 bonus offer, you must open a new Huntington Perks Checking account with a promotion code you can get on the application page.

You must also set up and receive total qualifying direct deposits of $500 or more within 90 days from account opening and maintain an open account status on the eligible checking account for 90 days.

Fifth Third Momentum® Checking

Fifth Third Momentum® Checking

4.2 / 5 — Rating · Risk Grade: B+

Best for Fast Cash

Bonus Amount

$300

Expiration

January 4, 2027

Monthly Maintenance Fee

$0

Our Expert Review

Our testing found that Fifth Third Bank has the best bank bonus for fast cash, earning a 4.2-star rating from our research team. The biggest advantage of pursuing this bonus is the ability to get your cash quickly. Other banks may deposit your bonus money within several months. Meanwhile, Fifth Third Bank will send you your bonus within 10 days of meeting the conditions of the promotion.

We also like that the Fifth Third Momentum® Checking account is fee-free and has no minimum balance requirement, plus you may get paychecks up to two days early for free.

The rate on the Fifth Third Momentum® Checking account is just 0.01% APY, so if you’re on the hunt for a competitive interest-bearing account, this might not be the best option.

Pros & Cons
No monthly feeBranches limited to 11 states
No minimum deposit requirementLow APY
Early paychecks
How To Qualify

Open an account online or at a branch and receive $500 or more in direct deposits within 90 days of opening the account. You’ll get your bonus within 10 days of making qualifying deposits.

Capital One 360 Checking Account

Capital One 360 Checking Account

4.1 / 5 — Rating · Risk Grade: B+

Best for Online-Only Banking

Bonus Amount

Earn $250

when you open a new 360 Checking account and receive at least two qualifying direct deposits of $500 each within 75 days of opening your account

Expiration

Not disclosed

Monthly Maintenance Fee

$0

Our Expert Review

Our testing found that Capital One has the best bank bonus for online-only banking, earning a 4.1-star rating from our research team. We like that Capital One 360 Checking Account accounts have no monthly fees, no minimum balance to open and no overdraft fees.

Plus, you get access to 70,000 fee-free ATMs and cafe locations where you may be able to get in-person banking assistance. Interest on the account is 0.10% APY, which isn’t significant, but it is higher than the national average of 0.07%.

Pros & Cons
Earns interestHigher yields elsewhere
No monthly maintenance feeLimited in-person branch services
No minimum deposit requirement
70,000+ fee-free ATMs
No overdraft fees
Details
  • Get paid up to two days sooner with early direct deposit feature
  • Overdraft protection options: auto-decline, free transfer, no fee overdraft
  • Earn $250 bonus offer by opening a new account with code CHECKING250 and set up and receive at least two qualifying direct deposits, each of $500 or more, within 75 days of account opening
How To Qualify

Open a Capital One 360 Checking Account account with promo code CHECKING250. Then set up and receive at least two qualifying direct deposits of $500 or more within 75 days of account opening. If you meet the requirements, you’ll get the bonus deposited within 135 days of account opening. Terms Apply.

Capital One 360 Checking Account 03/12/2025

Equity Bank Simply Free Checking and Savings

Equity Bank Simply Free Checking and Savings

3.8 / 5 — Rating · Risk Grade: B+

Best for No Maintenance or ATM Fees

Bonus Amount

$400

Expiration

December 31, 2026

Monthly Maintenance Fee

$0

Our Expert Review

Our testing found that Equity Bank has the best bank bonus for no maintenance or ATM fees, earning a 3.8-star rating from our research team. Equity Bank’s Simply Free Checking account stands out for offering no monthly fees and no ATM fees at any ATM nationwide.

Plus, account holders get access to online banking, early paycheck direct deposits and free credit monitoring. If you open a new checking and savings account, you can secure a $400 bonus.

Pros & Cons
No monthly maintenance fee$100 opening deposit required
No out-of-network ATM feesLimited branch locations in central U.S. states, such as Kansas, Oklahoma, Missouri and Nebraska
How To Qualify

Open a new Equity Bank Checking and Savings Account and use the code BEGIN online or in person at a branch. Then activate and use your debit card and receive a total of $1,000 in direct deposits within 45 days of account opening. Once you meet the requirements, the $400 bonus will be deposited into your bank account.

SoFi Checking and Savings Account

SoFi Checking and Savings Account

3.5 / 5 — Rating · Risk Grade: A

Best for High APYs

Bonus Amount

$50 or $400²

Expiration

December 31, 2026

Monthly Maintenance Fee

$0³

Our Expert Review

Our testing found that SoFi Checking and Savings has the best bank bonus for high APYs, earning a 3.5-star rating from our research team. SoFi Checking and Savings is an attractive option for those in search of low fees, high yields and a solid online banking experience. This is a combined checking and savings account, but you can use just one or both depending on your needs, without paying any penalties.

SoFi’s lack of fees makes it a strong contender for those looking for an online bank, and it offers 0.50% APY on checking and up to 3.30%¹ APY on savings if you set up eligible direct deposit, by depositing $5,000 or more every 31 days. Customers who don’t meet this criteria earn 1.00% APY on savings balances. In addition to standard FDIC insurance, SoFi offers additional insurance up to $3 million⁷.

Pros & Cons
Solid APYs on checking and savingsDirect deposit requirement to earn highest rate and other perks
Additional FDIC insuranceNo branches
No monthly fees
Early paycheck
No withdrawal or transfer fees
Details

Open a new SoFi online bank account and sign up for direct deposit. If you already have a SoFi account but have never signed up for direct deposit before, you’re still eligible for the bonus.

To earn $400², receive at least one direct deposit (paycheck, pension payment, government benefit payment), with deposits totaling $5,000 or more. Once you receive your first direct deposit, you have 25 days to reach the $5,000 minimum. If you complete those requirements, SoFi will reward you within seven business days.

If you can’t quite meet the $5,000 direct-deposit minimum, you might still qualify for a $50 bonus. That requires at least $1,000 in direct deposits.

Disclosures:

*Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/27. Rates are variable, subject to change. Terms apply atsofi.com/banking#4.SoFi Bank, N.A. Member FDIC.

1 Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 9/23/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet..

²New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% 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 9/23/26. Fees may reduce earnings. Additional information can be foundat http://www.sofi.com/legal/banking-rate-sheet

3 We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.

4 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.

5 Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.

6 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 may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.

⁷SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor 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 $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

SoFi Checking & Savings APY History

See how the APY for this savings account has changed over time. The chart below shows the saved rate history.

SoFi Checking and Savings Account APY History — saved chart

SoFi Checking and Savings Account 10/20/2026

Comparison: The Best Bank Bonuses and Promotions

To help you compare options, below is a list of the top bank bonuses available and their expiration dates.

ProviderDetails
Associated Bank Checking October 31, 2026Ratings 5 Rating Bonus $600 Expiration October 31, 2026
Chase Total Checking® + Chase Savings℠ January 27, 2027Ratings 4.3 Rating Bonus $900 Expiration January 27, 2027
Huntington Perks Checking January 15, 2027Ratings 4.3 Rating Bonus $400 Expiration January 15, 2027
Fifth Third Momentum® Checking January 4, 2027Ratings 4.2 Rating Bonus $300 Expiration January 4, 2027
Capital One 360 Checking Account Not disclosedRatings 4.1 Rating Bonus Earn $250 Expiration Not disclosed
Equity Bank Simply Free Checking and Savings December 31, 2026Ratings 3.8 Rating Bonus $400 Expiration December 31, 2026
SoFi Checking and Savings Account December 31, 2026Ratings 3.5 Rating Bonus $50 or $400 with eligible direct deposit² Expiration December 31, 2026

Most Popular is calculated from the number of times each affiliate product was selected by Forbes Advisor users over a six month time period.

Compare Conditions To Obtain Bank Bonuses

Below is a table with an overview of the top bonuses and the requirements customers must meet to earn the bonuses.

ACCOUNTRATINGBONUSCONDITIONS
Associated Bank Checking5$600Open a qualifying account, set up direct deposit and receive at least $500 in direct deposits within 90 days.; The average daily balance in your accounts will be calculated from Day 31 to Day 90 to determine the bonus.
Huntington Bank Perks Checking4.3$400Open a new account with the promotion code you can get on the application page.; Set up and receive total qualifying direct deposits of $500 or more within 90 days from account opening.
Chase Total Checking4.3$900Open an eligible account, set up direct deposit with your checking account and receive at least one direct deposit within 90 days. Deposit at least $15,000 in new money into your savings account within the first 30 days.; Maintain at least $15,000 in the savings account for 90 days after opening your accounts.
Fifth Third Momentum Checking4.2$300Open an account and receive $500 or more in direct deposits within 90 days of account opening.
Capital One 360 Checking4.1Earn $250Open an eligible account with promo code CHECKING250.; Set up and receive at least two direct deposits of $500 or more within 75 days of account opening.
Equity Bank Simply Free Checking and Savings3.8$400Open new eligible accounts and use the code BEGIN online or in person at a branch.; Activate and use your debit card and receive a total of $1,000 in direct deposits within 45 days of account opening.
SoFi Checking + Savings3.5$50 or $400 with eligible direct deposit²Open an account and receive at least one direct deposit (paycheck, pension payment, government benefit payment), with deposits totaling $5,000 or more. Once you receive your first direct deposit, you have 25 days to reach the $5,000 minimum.; If you can’t quite meet the $5,000 direct-deposit minimum, you might still qualify for a $50 bonus. That requires at least $1,000 in direct deposits.

Review Bank Minimum Balance Requirements and Fees

Bank accounts that offer bonuses may have monthly fees and minimum balance requirements to consider when reviewing offers. Below are various banking fees and conditions to be aware of before opening an account from our list.

ACCOUNTRATINGMONTHLY MAINTENANCE FEEMINIMUM BALANCE REQUIREMENTOVERDRAFT FEEATM WITHDRAWAL FEES
Associated Bank Checking5.0$0-$25 (waivable with eligible direct deposits)Minimum deposit $25 to $100$32$3.50 per transaction at out-of-network ATMs
Huntington Bank Perks Checking4.3$10 (waivable with eligible direct deposits)None$15$3.50 per transaction at non-Huntington ATMs
Chase Total Checking4.3$15; $0 with requirements* for checking (waivable with eligible direct deposits)None$34$3 to $5 per transaction at non-Chase ATMs
Fifth Third Momentum Checking4.2Up to $25 (waivable with eligible deposits)None$35$3.50 per transaction
Capital One 360 Checking4.1NoneNoneNoneFees may apply to transactions on ATMs not branded as Capital One, MoneyPass® or Allpoint®
Equity Bank Simply Free Checking and Savings3.8None$100$34.98 per transactionNo ATM fees at any ATM
SoFi Checking + Savings3.5$0³NoneNoneNone

How To Find a Bank Sign-Up Bonus

Banks and credit unions usually promote welcome offers on their websites, so you can start by searching for the name of a bank you’re interested in with the word “bonus.” Keep in mind that some promotions depend on location, so you might have to enter a ZIP code before you can access an offer.

Sometimes, a financial institution will contact potential customers directly through the mail. If you receive a flyer in the mail advertising a promotion, you can follow the instructions to learn more or sign up.

Be wary of emails that advertise bank bonuses, as they may or may not be legitimate. The safest course of action is to refrain from clicking any links and instead search the bank’s official website and find its customer support page. Contact customer service directly and ask them if the promotion is real.

How To Choose the Best Bank Bonus

Just because a bank bonus ranked highly on our list doesn’t necessarily mean it’s the right choice for you. Before signing up for an account to benefit from its welcome offer, consider the following:

Does the account itself make sense for you?

A bank bonus is worth applying for only if the account and the institution meet your requirements. If you value in-person banking, you shouldn’t choose a welcome offer from an online-only bank, for example.

Consider the fees you may have to pay and whether you’ll be able to meet minimum balance requirements. Also look into transaction limits, ATM access and the customer support offered.

Will you be able to meet the bonus requirements?

A welcome offer may be enticing, but it also should be attainable. Some bonuses require significant balances or specific direct deposit minimums. Make sure to read the fine print before signing up for an account to confirm you’ll actually be able to score the bonus.

If needed, contact customer service to clarify anything you’re unsure about before signing up.

Can I Get Multiple Bank Bonuses?

Yes, you can receive multiple bank bonuses by meeting offer requirements at more than one financial institution.

You might also be able to qualify for more than one bonus from the same bank, but this depends on the bank’s policies. Often, a bank will allow customers to benefit from multiple offers, as long as they’re for different account types. For example, you might be able to score a checking account bonus and a savings account bonus, but not two checking account bonuses.

The terms listed on an offer page will usually let you know the specifics, but if you’re unsure, you can contact customer support to get a clear answer.

How Many Bank Accounts Can I Have?

You can have as many bank accounts as you want (though not necessarily at the same bank). However, most people find that having one checking account and one savings account is enough.

If, however, you want to separate your savings based on different short- or long-term goals, you can have multiple accounts. Many accounts also have a savings bucket feature, which lets you separate funds into different categories under the same account.

The Federal Deposit Insurance Corp. and National Credit Union Administration, which provide insurance for deposit account balances in case a bank or credit union fails, cover up to $250,000 per account type, per institution. So, if your balance exceeds that amount, you may want to put your money into accounts at different banks to ensure all your funds are protected.

Do I Have to Pay Taxes on Bank Bonuses?

Yes, you must pay taxes on bank bonuses because they’re considered taxable income. Your bank or credit union will usually send you a Form 1099-INT or Form 1099-MISC if you earn a bonus. You’ll need to file those earnings when you submit your income taxes.

Banks We Monitor

We monitor offers, rates, fees and other account details from the following banks, credit unions and financial technology companies to determine the best bank bonuses:

Affinity Federal Credit Union, Alliant Credit Union, Associated Bank, Axos Bank, Bank of America, Barclays, BMO, Capital One, Charles Schwab, Chase, Citi, Citizens Bank, Discover, EverBank, Fifth Third Bank, First Tech Federal Credit Union, HSBC, Huntington Bank, KeyBank, PNC Bank, Popular Bank, Regions Bank, SoFi, TD Bank, Truist, U.S. Bank, UNIFY Financial Credit Union, Upgrade and Wells Fargo.

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

Taylor Medine

Taylor Medine

Staff Writer

Taylor Medine is a staff writer for Forbes Advisor with over 10 years of experience writing guides and articles that demystify personal finance topics, such as how to repay debt, build credit and manage student loans.

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