Interest rates have remained near record lows for years, benefiting borrowers but proving disadvantageous for savers. If you’re frustrated with the minimal returns from your checking accounts, it might be time to explore more innovative options. Checking accounts with sign-up bonuses offer a way to boost your earnings and add value to your banking experience.
Read: This is How & Why You Should Join a Credit Union
Interest rates may be low, but that does not mean you cannot make money on your spare cash. Checking account bonuses can give you an extra $100, $200 or even $400 to work with. So you can sit back and relax while you earn a stellar return on your funds. Here are some of the best checking accounts with sign-up bonuses available right now.
5 Best Checking Accounts with Sign-Up Bonuses
1. Santander Bank
Interested in earning a quick $225? Santander Bank’s promotion might be just what you need. They are currently offering a $225 bonus on their Simply Right checking account. If you meet the criteria, this free cash can be yours.
To qualify, you must set up a direct deposit and ensure that at least $1,000 is deposited into the account within the first 90 days. If you have a steady job and paycheck, the Simply Right Checking account offer could be ideal for you.
2. Wells Fargo
Wells Fargo is one of the oldest banks in the country, but it has suffered its fair share of bad publicity lately. That may be why Wells Fargo is going above and beyond to win back skeptical customers, and you can be the well paid beneficiary.
New customers who sign up for an eligible checking account could earn up to $400 for their trouble, an excellent bonus on your spare cash or a good way to beef up your savings. In order to qualify customers will need to set up a direct deposit and maintain it for three months. After these criteria are met, checking account holders are eligible to receive a cool $400 in bonus cash.
3. M&T Bank
If you want to earn an extra $250 on your cash, M&T Bank is here to help. The popular regional bank is currently offering a generous $250 bonus offer on qualifying checking accounts, giving customers a head start on their bills and a quick way to earn more on their money.
This offer also requires a qualifying direct deposit, but customers only need to deposit $500 from their paychecks to their new M&T checking accounts. Customers have up to 90 days to establish their direct deposits and have the funds transferred, and once those requirements are met the $250 bonus should be deposited quickly.
4. Citibank
Large money center banks are not always known for their generosity, but Citibank is a notable exception. This large multinational financial institution is currently offering an attractive $200 bonus on its checking accounts, and you can cash in on the free money.
The $200 bonus cash offer is certainly an excellent enticement, but there are other benefits to opening an account with a leader like Citibank. Their large network of ATMs makes accessing your cash easy, and the bank offers other financial products as well, including credit cards, business accounts and more.
5. HSBC
If you have a lot of cash in your checking account, moving it to HSBC could earn you an extra $450 on your money. This offer may not be right for everyone, but for those who can maintain a high balance this offer is hard to beat.
To qualify you will need to be a new customer. And you will have to deposit at least $5,000 to get started. Eligible customers should see their extra $450 within a couple of months, a serious return on their investment.
The competition among banks and financial institutions is more intense than ever. Which benefits consumers looking to maximize their money’s potential. If you have extra funds and are eager to see them grow. Opening checking accounts with sign-up bonuses is an excellent first step. You’ve worked hard for your money, and now it’s time to let those funds work hard for you in return.