The best bonuses in banks that offer you up to $400 dollars for opening an account

Banking is a business with a lot of competition and to attract new customers some institutions offer hundreds of dollars as a cash bonus for opening a checking or savings account. Although the offer can be very attractive, it is always important for clients to check if the amount and its welcome conditions really suit them.

If you are thinking of opening a bank account and are looking for the promotions you could get, here we share a list with the best bonuses in banks that offer you up to $400 dollars for opening a checking and savings account. Some of the bonuses end in the month of April, while others have longer deadlines.

What is a sign up bonus?

Some financial institutions offer a cash bonus to encourage potential customers to open a bank account with them, but they always include certain conditions such as:

• Opening the account online or in branch.
• Use a promotion code.
• Make a minimum initial deposit.
• Maintain a minimum balance.
• Keep the sale open for a minimum period of time.
• Complete a minimum number of direct deposits per month.
• Waiting time of weeks or months to receive the bonus.

Bank account “welcome bonuses” are for new customers and it is always recommended to read the terms and conditions of the offer before starting the registration process.

Savings account bonuses

TD Bank

• Open a TD Signature Savings or TD Simple Savings account and earn $200 when you deposit at least $10,000 within the first 20 days and then maintain that balance for an additional 90 days beyond the first 20.
• Offer valid until June 30, 20204.

SoFi

• Open a new account and connect a direct deposit of payroll or benefits to the account and earn bonuses of $50 or $300 dollars. Earn a $50 bonus for a direct deposit of between $1,000 and $4,999 and earn a $300 bonus for a direct deposit of $5,000 or more.
• To qualify the required amount of direct deposits must be made within the first 25 days.
• Offer valid before June 30, 2024.

Checking account bonuses

Chase

• Open a Total Checking account and make direct deposits totaling at least $500 within the first 90 days to receive a $300 bonus.
• You will need to use the coupon on the Chase website to claim the offer.
• Offer expires July 24, 2024.

Citibank

• Open an eligible checking account and earn a $300 cash bonus when you make two enhanced direct deposits totaling at least $1,500 within 90 days of account opening.
• Offer valid before July 8, 2024.

M&T Bank

• Open an eligible checking account and earn $100, $150, or $200 bonuses when you make direct deposits of at least $500 within 90 days of account opening.
• The account must remain open when the bonus is rewarded. There is a $50 early closing fee if the account is closed within 180 days of opening.
• Offer valid before June 30, 2024.

PNC Bank

• Open a PNC Virtual Wallet account and earn bonuses of $100, $200 or $400. The Wallet package must be opened online via links on the bonus offer page.
• Bonuses require direct deposits to the Spend account totaling $500, $2,000 or $5,000 respectively, within the first 60 days.
• Offer valid before April 30, 2024.

TD Bank

• Open a TD Complete Checking or TD Beyond account and earn up to $300 with qualified direct deposits. Making qualified direct deposits of $500 within 60 days into your TD Complete Checking account will earn you a $200 bonus, and making qualified direct deposits of $2,500 within 60 days into your TD Beyond Checking account will earn you a $300 bonus. .
• You will not qualify if you received a previous personal checking bonus.
• Offer valid until April 30, 2024.

Is the bank bonus worth it?

A key factor that we must Consider before looking for a bonus for opening a bank account is whether we will get more than we would earn in interest if we leave the funds where they are. “Add up the bond and the interest earned over the required period and divide by the required balance to get an idea of ​​the percentage rate of return. If it’s not significantly better than (your) checking account rate, it may not be worth the effort,” advises David Wattenbarger, president of DRW Financial in Chattanooga, Tennessee.

That effort Wattenbarger is referring to could include opening the account, depositing funds, setting up new direct deposits and withdrawals, as well as having to remember a new username and password.

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