Cash In: Top Bank Account Bonuses for August 2025 Revealed

As August 2025 approaches, numerous financial institutions are rolling out attractive incentives for new customers. Whether you’re looking to open a new checking, high-yield savings, or business account, banks are offering significant cash bonuses, some reaching up to $3,000, to entice you to move your funds.

Key Takeaways

• Bank account bonuses can provide substantial cash incentives, with some offers reaching $3,000.
• Offers are available for various account types, including personal checking, savings, and business accounts.
• Eligibility for bonuses often depends on meeting specific requirements like minimum deposits, direct deposit thresholds, or transaction counts within a set timeframe.
• It’s crucial to review terms and conditions, including potential fees, geographic restrictions, and the long-term value of the account beyond the initial bonus.
• Bank account bonuses are considered taxable income by the IRS.

Top Checking Account Bonuses

Several banks are offering competitive bonuses for opening new checking accounts:

• Chase (Private Client): Up to $3,000 bonus for deposits of $150,000 to $500,000+. Expires Oct. 15, 2025.
• Citibank: Up to $1,500 bonus with deposits of $30,000 to $200,000. Expires Oct. 6, 2025.
• Huntington National Bank: Up to $600 bonus for direct deposits or larger new-to-bank funds. Expires Aug. 15, 2025.
• PNC Bank: Up to $400 bonus with qualifying direct deposits of $500 to $5,000+. Expires Nov. 17, 2025.
• BMO: $400 bonus for $4,000 in direct deposits within 90 days. Expires Sept. 8, 2025.
• Wells Fargo: $325 bonus for $1,000 in direct deposits within 90 days. Expires Oct. 15, 2025.
• KeyBank: $300 bonus for a single direct deposit of $2,000 within 90 days. Expires Aug. 22, 2025.
• SoFi Bank: Up to $300 bonus with direct deposits of $1,000 to $5,000+. Expires Jan. 31, 2026.
• Chase Bank (Total Checking): $300 bonus for $500 in direct deposits within 90 days. Expires Oct. 15, 2025.
• TD Bank: Up to $300 bonus with direct deposits of $500 to $2,500+. Expires Aug. 31, 2025.
• Capital One: $250 bonus for two direct deposits of $500+ using code CHECKING250. No expiration date listed.
• USAA Federal Savings Bank: $250 bonus for $100 in direct deposits (eligibility restrictions apply). Expires Sept. 3, 2025.

Top Savings Account Bonuses

Savings and money market accounts also offer incentives:

• Morgan Stanley Private Bank: Up to $750 bonus for new money deposits of $25,000 to $75,000+. Expires Sept. 30, 2025.
• TD Bank: $200 bonus for maintaining a $10,000 balance for 90 days. Expires Oct. 31, 2025.
• Discover Bank: Up to $200 bonus for deposits of $15,000 to $25,000+. Expires Sept. 11, 2025.

Top Business Bank Account Bonuses

Businesses can also benefit from opening new accounts:

• Huntington National Bank: Up to $1,000 bonus for deposits of $5,000 to $20,000+. Expires Oct. 16, 2025.
• PNC Bank: Up to $1,000 bonus based on account type, transactions, and balance. Expires Sept. 30, 2025.
• Axos Bank: Up to $400 bonus for new businesses or higher balances with specific transaction requirements. Expires Sept. 30, 2025.

Understanding Bank Bonuses

Banks offer these bonuses to attract new customers and deposits. While a bonus can be a great immediate gain, it’s essential to consider the account’s long-term suitability. Evaluate monthly fees, minimum balance requirements, and the annual percentage yield (APY) of savings accounts. A high-yield savings account might offer more long-term earnings than a one-time bonus on a low-interest account. Always check for geographic restrictions and ensure the account meets your everyday banking needs.

Tax Implications

Any bank account bonus you receive is considered taxable income by the IRS. Banks typically issue a 1099-INT or 1099-MISC form for bonuses over $10. It’s advisable to set aside a portion of your bonus for tax obligations.

Sources

• Best Bank Account Bonuses For August 2025, Bankrate.