If you have some money in hand and want to make some extra cash to meet your daily needs, you can look for opening a checking account to get benefits offered by different banks for opening a new checking account. These benefits can be in the form of bonus cash which ranges from $100 to $750.
Bonus on a checking account is a marketing tool used by many banks to attract more customers. The bonus offered by different banks on the opening of a new checking account is the only one-time measure. This bonus is also associated with different promotion offers of the bank which vary from bank to bank.
For availing bonuses offered by banks on the opening of the new checking account, you need to go through few difficult phases, however, these hoops are worthwhile especially when you are getting some extra cash. In the United States of America, most of these bonuses are limited to new customers only or people who are without checking accounts for a considerable time with some requirements.
First of all, you need to open a checking account in the bank with a direct deposit or transfer of a certain cash amount within a specific time i.e. 30 to 90 days from the date of account opening. When you will be able to meet all these requirements, you will be able to expect or receive your defined bonus.
What is a Checking Account?
It is a type of account or financial tool for your money that provides access to you every day you. Checking accounts provide debit cards and personal checks facilities. With the advent of the latest technology, now banks are offering services of checking accounts through online and mobile banking. There is no limit to withdrawal, transfer of money, and write checks, unlike savings accounts. Virtually all credit unions and banks offer checking accounts.
How to Apply for Checking Account?
Most of the banks have similar rates of interest, required minimum deposits on the opening of the bank, same ATM fees, and almost constant monthly charges. The only thing which makes a bank different from others is the cash bonus offered by that bank on the opening of the new checking account. Therefore, to avail of this one-time perk of cash bonus on the opening of the new checking account, selection of bank is of prime importance.
Application procedure for opening of new checking account to avail cash bonus is not very cumbersome.
There are few requirements which you need to meet these requirements include:-
- There is necessary that you have made a direct deposit at the time of account opening.
- The account you are opening should remain active for at least three months.
When you meet these criteria, you are ready to go for the application procedure, you just have to fill an online application form which will take two to three working days for the verification process after which your new checking account will be opened in the bank.
Who Qualifies for The Bonus?
Any person who is living within the geographic footprint of a bank can qualify for a $300 checking account bonus. If you are opening an account in a bank with more branches or ATMs, more chances to become eligible for this bonus. However, few more conditions must also be fulfilled to qualify for this incentive,
These conditions include:-
- You have not any personal checking account for the last 6 months.
- You have not received any bonus offered through any bank for the last 12 months.
Top 5 Best $300 Checking Account Bonus in 2021
The following criteria remain focus while ranking the best $300 checking account bonus:-
- Reasonable requirements for the bonus.
- Nationwide availability of banks’ network.
- The physical location of the branch and online accessibility.
- Large network of ATM.
Few of the best $300 checking account bonus in the United States are:-
With up to a $700 bonus. All those new customers in the market who are looking for the opening of new checking accounts can prefer to open a checking account in Citibank to earn the maximum bonus by following under mentioned rules:-
- For getting a bonus of $300, a deposit of $15,000 should be made in an account within 30 days of its opening and this balance should remain in the account for at least 60 days.
- For getting a bonus of $700, a deposit of $50,000 is necessary to be made in an account within 30 days of its opening and this balance should remain in the account for at least 60 days.
2. Associated Bank
With up to $500 bonus, to earn different kind bonuses offered by Associated Bank, customers have to maintain a fixed balance in their account for the first 61-90 days as follows:-
- To get a bonus of $200, the customers just have to maintain a $1,000 – $4,999 daily balance in their accounts.
- To get a bonus of $300, the customers just have to maintain a $5,000 – $9,999 daily balance in their accounts.
- To get a bonus of $500, the customers just have to maintain a $10,000 or more daily balance in their accounts.
3. HSBC Bank
With up to a $600 bonus; HSBC offers $450 for opening an online premier checking account and receiving direct deposit for consecutive three months with at least $5,000 each month. To avail up to a $600 bonus, the customer should be a new account holder for a premier checking account. This bonus would be paid in installments like $100 per month for continuous six months.
4. TD Bank
With up to $300 bonus. The bonus of $300 by TD Bank is available for the following customers:-
- Customer who opens an online Beyond Checking account.
- Customer who never had a personal checking account in TD Bank.
- Customer who after the opening of account within 60 days has a direct deposit of at least $2,500.
5. PNC Bank
With up to a $300 bonus, you can qualify for a maximum bonus from PNC bank if you don’t have any checking account in it or the last one which you have has been closed within the past 90 days. Following conditions also apply for different bonuses:-
- Customers to get a $50 bonus must have at least $500 direct deposits in their accounts.
- Customers to get a $200 bonus must have at least $2,000 direct deposits in their accounts.
- Customers to get a $300 bonus must have at least $5,000 direct deposits in their accounts.
Avoid Monthly Fees
There are mainly three different kinds of checking accounts which include an Easy Checking account, a Gold Checking account, and a Platinum Checking account. These accounts have different monthly fees as per their features like an Easy checking account bank charges are $6.95 as a monthly fee, for a Gold checking account banks charges are $14.95 as a monthly fee and for the Platinum checking account bank monthly fee is around $24.95. However, to avoid these fees, you have to do one of the following:-
For an Easy Checking Account:-
- Combined direct monthly deposit of $1,000 or more.
- The average balance of the account at the end of the month is $1,500 or more.
- The age of the account holder is 65 or greater.
For a Gold Checking Account:-
- The customer should have a bank credit card.
- Have a good credit score.
For a Platinum Checking Account:-
- The customer has a personal trust relationship with the Wealth Management of the Bank.
- At least $25,000 or more in combined personal deposits.
How Does This Compare?
There are very few banks that offer a generous amount of $300 as a bonus with very few and easy requirements. If you are a new customer or have never opened a checking account then a $100 bonus would not be a bad option for you.
Here is a list of banks offering a bonus which you can compare for choosing the best one:-
- Axos Bank Has a cash bonus of $100 with a compulsory direct deposit of $250.
- Citibank Has a cash bonus of $300, $700, and $2700 without any direct deposit, however, the minimum deposit for bonus is $5,000 to $55,000.
- HSBC Has a cash bonus of $600 with compulsory direct deposit.
- Wells Fargo Has a cash bonus of $200 with a compulsory direct deposit of $25.
- PNC Bank Has a cash bonus of $200 to $300 with compulsory direct deposit.
- TD Bank Has a cash bonus of $150 to $300 with compulsory direct deposit.
- SunTrust / Trust Has a cash bonus of $500 with compulsory direct deposit.
- SoFi Money Has a cash bonus of $50 to $100 with compulsory direct deposit.
- Alliant Credit Union Has a cash bonus of $100 without any direct deposit.
- Chase Bank Has a maximum Checking account bonus offer of $200 with easy requirements for the opening of an account and getting the bonus. You just need to open an account, within 60 days of the opening of the account make a direct deposit, and here you are all set to get a bonus within 10 days. The monthly fee will also be waived off if you have a monthly direct deposit of $500 or more and a minimum balance limit daily of $1,500 or more.
- The Bank of America Checking accounts are of three types, their monthly fee for these accounts varies from $4.95 to $25 per month. It gives a $300 bonus and also waives off a monthly fee with direct deposit or maintaining the minimum required amount in the account.
$300 Checking Account Bonus Requirements
- A bonus offer is available to only new customers especially for those who have never opened a checking bank account or have no checking account in any bank for the last 12 months.
- The amount of bonus will be deposited directly into the account within 90 days after fulfilling all requirements.
- If a customer will close his account within 180 days after opening an account, he has to pay a $25 fee.
- At the time of the bonus deposit, the account must be in good standing as it was opened.
- The bonus offer cannot be combined with other bonus offers of banks or any other checking account.
- The bonus offer is not valid if you already have a checking account for the last 6 months or have received the bonus for the last 12 months.
- Employees of that bank that is offering bonuses are ineligible.
Frequently Asked Questions (FAQ)
Checking accounts are more suitable and beneficial due to their safety and accessibility. Checking an account due to its versatility is useful to make purchases, pay bills, and receive deposits. These accounts help to simplify the financial life of a customer. Mobile apps associated with checking accounts facilitate you for making payments, transferring money, and reviewing money transactions without any hassle.
It all depends upon the type of account and bank in which you have opened your checking account. Normally it takes only ten days to arrive your bonus into your account upon completion of the compulsory deposit term.
There is no limit to withdraw money from your checking account, however, as per the nature of your checking account and facilities provided by your bank, the necessary balance must be kept in mind before withdrawal for availing bonus facility.
Mainly three kinds of checking accounts are offered with different monthly fees and cash bonuses. These checking accounts include an Easy Checking Account, a Gold Checking Account, and a Platinum Checking Account.
It is always necessary to maintain a minimum balance as per the requirement of the account to avail not only bonus cash offer but also to waive off the monthly fee.
It provides easy access to all your money and makes it easy for you to pay bills. If you are looking for an account that doesn’t charge a fee for every transaction, then a checking account is a good choice.
There is the cost for the opening of checking accounts, however, they charge a monthly fee which can be avoided by maintaining the minimum balance requirement of the account.
Above mentioned bonus offers are a few of the good and highest especially when applying for an online checking account. Few banks even offer a $400 bonus. You can try this if you have relations with that specific branch. If you are in fix to choose from all checking accounts, then an easy checking account is a better choice because it has minimum requirements for waiving off fee and getting a bonus with limited direct deposit or maintaining the minimum balance in the account.