Get a $25,000 Bonus by Transferring Your Money to This Bank
These are the 10 best bank sign-up bonuses, but not everyone can qualify
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One bank is giving away $25,000 just to start an investment account. Some other banks offer between $2,000 to $5,000. But there are tough conditions to meet to get these bonuses.
Experts believe that these conditions can decide if the offer is good or bad.
Here’s a list of the top bank bonuses for September 2023. I’ll also explain why banks give these bonuses, how they work, and if they’re right for you.
Why are banks offering big sign-up bonuses?
Due to high prices over the past year, the main bank (Federal Reserve) decided to increase interest rates. This makes it more costly for banks to manage their own debts. To get more cash, some banks are giving better rates for savings. Others are giving big bonuses when you sign up.
Are bank bonuses a good idea?
Bank bonuses might tempt you to open an account. Elizabeth Ayoola, a money expert, says that while these bonuses sound great, it’s important to check the fees. Some bank accounts might have high fees that can take away from the bonus you get.
Katie Catlender, who works at Cambridge Savings Bank, shares that just because a bank offers a big bonus doesn’t mean it’s the best bank for you. It’s more important to find a bank that is easy to use, dependable and cares about its customers. A good bank offers more than just good deals.
Also, remember that some bank bonuses come with special rules. You might have to do certain things to get the bonus. Katie adds that while most offers are honest, always look closely at the details. Think about if the bank is a good match for you in the long run, not just for the bonus.
Top 10 Bank Bonuses
Looking for a new bank? If you’ve got some spare cash, these bank bonuses can give you extra money. Always check the details and make sure you can do what’s needed.
Note: It’s always smart to understand all the details when dealing with bank offers.
1. Special offer from Citi!
Open a Citi Personal Wealth account by September 30, 2023:
- Deposit at least $50,000 new money? Get a $500 bonus.
- Deposit $2 million or more new money? Earn a huge $5,000 bonus.
Hurry, don’t miss out on this deal!
2. CitigoldⓇ checking account deal
- Get up to $2,000 bonus.
- Open your account before Jan. 9, 2024.
- Deposit at least $300,000 within the first 20 days.
- Keep that amount in the account starting from day 21 for the next 60 days.
- Some accounts like business, retirement, and certain Citi accounts won’t qualify for this offer.
3. Get $2,500 with Wells Fargo!
1. Open a Premier Checking account by Oct. 10, 2023.
2. Start with at least $25.
3. Put in $250,000 by day 45.
4. Keep that money for 90 days.
5. Bring a special code to the bank when you open the account.
6. Don’t forget to read all the details.
Visit your local branch to start!
4. Get $600 with Huntington Bank!
- Offer: Open a checking account by Oct. 7, 2023, and get up to $600.
- How: Deposit at least $25,000 within 3 months.
- Who: Only for folks in certain states like Michigan, Ohio, and a few others.
Remember, this is for a special account called “Platinum Perks Checking” at Huntington National Bank. Check if your state is on the list!
5. Citi Priority Checking account bonus: Get up to $2,000
1. What’s the offer? If you open a Citi Priority Checking account before January 9, 2024, you might get a cash bonus. How much? That depends on how much money you put in.
2. How much bonus can you get?
— Deposit $10,000 to $29,999: Earn $200.
— Deposit $300,000 or more: Earn $2,000.
3. Important things to remember:
— The money you deposit should be new to the bank. It can’t be from another Citi account you already have.
— By the 20th day after you open your account, make sure you’ve deposited enough to hit one of the bonus levels. Remember, the minimum is $10,000.
— You need to set up a direct deposit for things like your paycheck or government benefits.
4. More details: Always read the terms and conditions to understand everything fully.
6. Get $1,000 from U.S. Bank!
1. Open a checking account: Start a U.S. Bank Smartly Checking account with $10,000 or more to get a $500 reward.
2. Open a savings account: Put $50,000 or more in a new U.S. Bank Standard Savings account by Sept. 30. Keep that amount until March 31, 2024, to get another $400.
3. Bonus: If you do both steps, U.S. Bank gives you an extra $100! That makes it $1,000 in total.
It’s a bit of work, but the money reward makes it worth it!
7. J.P. Morgan investment offer
- Open an account with J.P. Morgan.
- Put in $250,000 or more by Oct. 12, 2023 to get $700.
- You can add money, and stocks, or move retirement funds from another place.
- Do this within 45 days of opening the account.
- Keep the money there for 90 days to get the $700.
8. M1 Retirement Offer: Get up to $5,000 extra!
Want to move your big retirement savings to a new place? Try M1. If you bring at least $50,000 from your job’s retirement plan within 14 days, you could get a special cash bonus. Move over $1 million and M1 gives you an extra $5,000. Simple as that!
9. Get a $3,000 bonus with Chase!
1. Open a new personal checking account by Oct. 18.
2. Put in $500,000 or more within the first 45 days. This should be new money, not from other Chase accounts.
3. Wait, and you’ll see your $3,000 reward in about 40 days.
Note: Business accounts and certain investment accounts don’t count for this offer.
10. Tastytrade bonus offer
New Tastytrade members can get a cash bonus when they add $5,000 to their accounts by March 31, 2024. If you have over $5 million in your account, you can get up to a $25,000 bonus. Always check the full offer details.
Final thoughts
While enticing bank bonuses can offer a quick boost to your finances, it’s crucial to weigh the long-term benefits and consider the account fees. Choose a bank that aligns with your needs, not just the immediate reward.
