Want to Maximize Your Money? A Checking Account is Better Than a Savings Account

Want to Maximize Your Money? A Checking Account is Better Than a Savings Account

Did you know you could earn a couple hundred bucks right now? All you need to do is open a new checking account.

Forget looking for a high savings interest rate or investing in funds that lock your money up for years. Banks are offering extremely generous sign-up bonuses for new checking accounts. And you could score an extra $200 or $300. 

Banks want your business, and they’re willing to pay you to get it. If you want to make the most of the money you have sitting in the bank, here’s why you should open a new checking account.

Free Cash, No Strings Attached

Thinking having $200 or $300 in your pocket is too good to be true? Think again. Savvy individuals can score hundreds of dollars in free cash.

You simply need to take advantage of banks’ new account offers. In an effort to increase their customers and their cash flow, banks are enticing new customers to open checking accounts by offering hundreds of dollars. Just weeks after opening an account, you could get a free bonus deposited right into your account.

And, while it might sound unbelievable, banks are offering these sizable bonuses with zero major commitments required. In most cases, all you have to do is set up a direct deposit and maintain a small balance in your new checking account.

What Bonuses Are Available?

How much you can earn by opening a new checking account with a new bank varies, but one thing’s for sure: a new account could bring as much as $400 into your account. Here are a few current checking account offers to consider:

Chase Bank: $200

Open a Chase Total Checking Account, get $200.

You may have already found a “coupon” for this offer in your mailbox, but if you haven’t you can still take advantage of it at your local Chase Bank branch. Your new checking account can be opened in person or online, and you must set up direct deposits within 90 days of opening the account.

HSBC: Up to $200

Open a HSBC Advance Checking Account, get up to $200 in a Welcome Deposit.

Get $200 for a new Advance Checking Account. You can easily open one of these new accounts online, without having to visit a branch. To earn the bonus, you must set up a recurring direct deposit of $500 or more with your new checking account. You’ll need to continue those direct deposits for at least three consecutive months in order to qualify.

 HSBC: Up to $450

Open a HSBC Premier Checking account, get up to $450 in a Welcome Deposit.

You’ll qualify to receive $450 from HSBC when opening a new Premier Checking account. In order to get the bonus, you’ll need to make recurring monthly direct deposits totaling $5,000 or more for three consecutive months. After eight weeks, you’ll have the bonus deposited into your new checking account.

Citibank: Up to $200

Open a Citibank Basic Banking Account, get up to $200.

New Citibank customers can earn a bonus for opening a Basic Banking Account for a limited time. In order to qualify, you must deposit at least $5,000 to receive a $200 bonus. You’ll need to maintain a minimum balance of at least your initial deposit for 60 days to get your bonus.

These current checking account bonuses are only the beginning of what’s available. Nearly every bank, from traditional brick and mortar branches to online, offers some kind of incentive for those interested in opening a new checking account.

Where to Find Checking Account Bonus Offers Like These

Checking account bonus offers change often — so make sure you look into banks in your area and online in order to see what offers are currently available. Bonus offers are typically limited to new account holders, and they run for a limited time. Some may be available only at a physical branch.

Make sure you also check the requirements for each bonus you find, as they can include requirements such as deposit minimums, regular direct deposits, and a certain amount of months you’re required to keep your account open.

Here’s a tip to help you search: While big banks like Chase and Wells Fargo are offering new bonuses, some of the best bonuses may come from regional banks in your area. You want to find the biggest cash bonus and the best bank benefits to find a checking account that’s a good fit for you.

From annual interest to cash incentives, there are plenty of different checking account offers and bonuses available right now. And banks change their bonus offers often. As banks try to attract more customers and more of your money, these incentives can grow and become even more appealing. 

Are you ready to take advantage of these bonus offers? You can add some extra cash right into a new checking account. But first, you’ll need to search for the best bonus offer you can find.

In your search, look online for offers from local banks, national banks, and even online banks. Compare what each bank is giving customers for opening new accounts. And make sure to keep looking once you’ve picked a bank. Bank offers are always changing, and you might find moving your money into a new account comes with even better perks — and more free cash.