Banks are always in the search of new customers. They continuously launch new policies in short interval of time to hunt new customers. Through which, people attract towards the policies and buy them.
Some policies are there for which you have to qualify. If you become eligible then you can open an account. Some banks are there that pay you to open account often around $200.
There are some formalities to meet eligibility criteria such as receiving direct deposit or maintaining a minimum balance. If you follow the rules and regulations properly then you may get the bonus money within a few months too.
Here we are telling you the following banks that pay you to open an account. It is just like the industries and companies that work continuously to maintain the position in the market.
Due to which competition remains in the market. In the same way, banks also give some rewards to attract new customers to their bank. These rewards can be in any form such as Signup rewards, or cash for opening a new account.
Let’s begin the journey to find out more about which banks are pay more to open an account and how these incentives work actually.
Rewards for Opening New Accounts
No doubt competition between banks always high. Cash back rewards always attract new customers in banking sector. That’s why, all banks came together and began a new innovative way in which a new customer gets cash rewards for opening a checking account with them.
This will help to the banks to grow business more in market. Let us understand by an instance, if a new customer open an account in a bank and deposit $100 in to the account than he/she will receive a reward of $200 in return.
Similar article : Bank Offers To Open A New Account
Available New Account Bonuses
As per the report of Federal Deposit Insurance Corporation (FDIC), these following banks are offering a cash back reward to its new customer for opening a deposit account.
Name of Each Bank with Explanation
1. Fifth Third Bank
The customer who opens an account in fifth third bank receives a $250 bonus. But it doesn’t mean that the bank doesn’t cost anything. In order to get cash back, you have to maintain a balance of $500 within 45 days of opening account. This offer is valid only for the new customers of fifth third bank. The cash bank amount is transferred to the account within 10 business days.
- Provides Debit Card facility
- Online Banking and Online Bill Pay is also available
- Mobile Banking and Instant Alerts are active
- Access to more than 50,000 fee-free ATMs
2. Wells Fargo
If you open an everyday Checking account in Wells Fargo bank then you will get $400 in the form of bonus. There is one condition of getting cash back is the account must be opened online. Along with this, customers should not have an existing Wells Fargo checking account within the last 12 months.
New customer should deposit total $4,000 or more during the first 90 days from the account is open. The deposit can be anything such as Social Security, payroll deposits, or other government benefit payments. The best part of opening account in Wells Fargo is, it doesn’t demand you to deposit such a big amount. You have to deposit only $25 to open an account.
- It provides hassle-free banking transactions.
- Transactions can be done anywhere anytime by using mobile, table, laptop or computer desktop.
- Transitions can be verified as long as you have internet connection.
- Along with this, you can request for overdraft protection and balance transfer
3. TD Bank
TD bank is the only bank that offers two bonuses to its new checking account customers. Those clients who deposit $2,500 within the first 60 days of opening the account get $300 bonus directly. The cash back amount is transferred to the account within short time period. The second offer is to earn $150 by opening a Convenience Checking account. Let me tell you that there is no minimum deposit requirement. You have to pay $15 fee monthly only.
- The services of TD bank are very convenient with 1,300 locations.
- It provides free mobile and online banking services to its customers.
- You can easily check account perks without visiting ATM.
- Bank provides complete safety and security to its customers.
4. Chase Bank
New customers of chase bank get a bonus of $300 after the opening of a Chase Total Checking account. This deal is not ideal for the customers who have closed their accounts within 90 days, closed with a negative balance, or have fiduciary accounts. Customers have to pay monthly fee of $12.
But if you direct deposit $500 or more to the account or maintain daily balance of $1,500 or more in the account then you can ignore this monthly fee. Along with this, the bank offers a $200 bonus to those customers who open a new savings account with a deposit of $15,000 or more within 20 business days.
- It is the bank which stays in touch with the customers 24*7.
- It provides mobile banking facility.
- You can get cash from Chase ATMs easily and securely with your mobile wallet.
- You can direct deposits to paychecks.
- Along with this, you can deposit checks securely from anywhere.
5. PNC Bank
New customers of PNC bank get an opportunity of getting $300 for opening a new PNC Virtual Wallet. Those who open a new standard Virtual Wallet earns depositors $50. If you open a Virtual Wallet with Performance Spend then you earn $200. But if you open a Virtual Wallet with Performance Select then there are high chances of earning $300 into their accounts.
To earn reward, you have to deposit $500, $2,000 and $5,000 for the Virtual Wallet, Performance Spend, and Performance Select, respectively. Customers should purchase at least five debit card and establish a qualifying direct deposit to the account.
- It offers number of saving account from four different certificates to their client.
- It offers over draft services also.
- You can avail online banking and voice banking services from this bank.
- At PNC bank, you can get international services too if need.
6. Santander Bank
Those people who open a Simply Right Checking account in Santander Bank earn $225 cash back in the form of bonus. To get transfer this amount in the bank account directly, new customer has to qualify. Individual has to open an account with minimum deposit of $25.
Along with this, he/she has to deposit total $1,000 or more within the first 90 days. After that, the bank will transfer $225 in the account within 30 days. One more thing should be noted, bank has not fixed any minimum balance requirement to earn bonus.
- You can enjoy many awesome services at this bank like mobile check deposit, quick balance and apply pay.
- Clients has chance to earn interest on deposits in CD’s and money market accounts.
- ATM facility is also available for all clients.
- Online banking, mobile banking is also available for the clients.
7. Huntington National Bank
Huntington National Bank offers two golden opportunities to its new customers of earning two different bonuses. Those new clients who want to earn $150 must open the Asterisk-Free Checking account in Huntington National Bank. Clients do not need to maintain minimum balance in their account to qualify this bonus eligibility. Along with this, bank doesn’t fix any monthly fee for this account.
To get $200 cash bonus, interested contenders have to open the Huntington 5 Interest Checking account. Customers have to pay $5 fee which is waived after maintaining minimum $5,000 monthly balance. Those who want to earn this bonus, have to make cumulative deposits of $1,000 within the first 60 days. Also, the account cannot be closed within 90 days. It means that account should remain open at least 90 days. The bank will transfer the cash back price after requirements meet.
- Huntington National Bank has personal checking accounts designed for the perfect life of the clients.
- You can open saving account or money market account here also.
- You can check your mortgage pre-approval which can give you an edge with sellers.
If you are going to open an account in Brand new HSBC then you will be amazed by hearing good news for its new customers. Actually, the HSBC bank is offering two different checking account offers. New customers will be paid for it. If you open an HSBC Premier Checking account then the bank will transfer $475 direct in to your bank account. Those clients who want to win this reward have to direct deposits of at least $5,000 into the account each month for three full months from the second month that the account is open.
The second offer, the bank is offering to its new customers is of $350. It will be given to those customers who open an advance Checking account in HSBC. To earn this offer, customer has to set up a direct deposit. You’ll earn 2% cash back on the amount of your direct deposit each month, up to $30 per month.
This offer is good for the first 12 months of account opening and is capped at $350 for the year. The application should be completed through online mode with correct information. No other mode of application will be accepted by the bank.
- Balance Transfer-on-EMI is a facility that allows you to transfer the outstanding balance from your other bank credit cards to your HSBC Credit Card.
- You can take loan easily for a new TV, or a computer.
- The Cash-on-EMI feature on your HSBC Credit Card gives you a convenient way to borrow cash
9. Bank of America
Bank of America provides an opportunity to earn reward of $100 to its new customers. For this, customers have to open an account in the bank. To qualify for this account, customers don’t must have a Bank of America personal checking account within the past 12 months.
Customers have to open a new Advantage SafeBalance Banking, Advantage plus Banking or Advantage Relationship Banking account through online mode. Individual has to deposit $25 for opening an Advantage SafeBalance Banking account and $100 opening deposit for the others. After final opening the account, the customer will receive $250 each within 90 days.
- You can manage account easily for pay bills, transfer money between your accounts and set up alerts.
- Schedule or pay bills online from home, the office, wherever you can connect.
- Help protect your account with fingerprint sign-inFootnote7 on your mobile device.
- It allows you to set up a budget and monitor spending in your accounts to quickly see where your money goes and helps you take control of it.
What Are Some Rules That Apply to Bank Account Bonuses?
The banks have set some rules for those clients who want to earn rewards and cash back. We have given the rules below.
Read out them to collect information :
- Make a minimum initial deposit.
- You have to keep the account open for a minimum period of time.
- Make a minimum amount in direct deposits each month.
- Maintain a minimum balance.
- Wait weeks or months to receive the bonus.
- Open the account online or at a branch.
- Use a promo code.
- Pay monthly account maintenance fees that may be waived if you complete specified account activities.
Checking Account Offers, Savings Promotions for May 2021
- Bank of America Advantage Banking, $100.
- Alliant Credit Union Ultimate Opportunity Savings, $100.
- HSBC Premier Checking, $450.
- TD Bank Checking, $150 or $300.
- Axos High-Yield Savings and Essential Checking, $100.
- Wells Fargo Everyday Checking, $200.
- Huntington Checking, $150 or $200.
- Chase Total Checking, $225.
- Citibank Checking, $300 or $700.
- Chase Business Checking, $300.
Frequently Asked Questions (FAQ)
- Do banks pay to every client to open an Account?
No, banks only pay to their new clients to open an account.
- Does every bank have decided eligibility to earn reward?
Yes, we have stated eligibility of every bank to earn reward.
- Is there any procedure of earning cash back while opening account?
No, customers who want to earn reward have to apply through online mode only.
- How to open an account in bank?
You will be required some important documents to open an account. You may check the proper requirement by visiting the official website of the bank.
- What is the procedure of receiving rewards?
The reward price will be transferred to the client’s account within 30 working days.
So, this is the information for the banks that pay you to open an account. The bonuses are available for the eligible people. You have to fulfill all the eligibility criteria as per the bank norms to earn money or to get cash back.
You can use this information earn more and make money more. If you have any doubt regarding the details or any suggestion then you can comment in the box below given.