Cash In On August: Top Banks Offer Big Bonuses For New Accounts

Score Big: Banks Roll Out Generous Account Bonuses This August

Financial institutions are competing for your business this August 2025 with a wave of attractive promotions for new checking and savings accounts. Savvy consumers can potentially earn hundreds, even thousands, of dollars by opening a new account and meeting specific deposit or direct deposit requirements.

Top Checking Account Bonuses to Consider

Several major banks are offering substantial sign-up bonuses for new checking accounts. These offers often require a minimum deposit or a certain amount in direct deposits within a specified timeframe.

• Chase Bank leads the pack with a potential $3,000 bonus for its Private Client Checking account, requiring a significant deposit of $500,000 or more. For its Total Checking account, Chase offers a $300 bonus with qualifying direct deposits of at least $500 within 90 days.
• Citibank is offering up to $1,500 for new checking accounts, with tiered bonuses based on deposit amounts. To earn $750, a $30,000 deposit is needed, while $1,500 requires a $200,000 deposit.
• Huntington National Bank provides a $600 bonus for its Platinum Perks Checking account with a $25,000 deposit, or $400 for its Perks Checking account with qualifying direct deposits.
• PNC Bank offers bonuses ranging from $100 to $400 depending on the Virtual Wallet account chosen and the amount of qualifying direct deposits received.
• BMO Bank is offering a $400 bonus for opening a Smart Advantage or Smart Money Checking account and receiving $4,000 in direct deposits within 90 days.
• Wells Fargo offers a $325 bonus for its Everyday Checking account with $1,000 in direct deposits within the first 90 days.
• KeyBank has a $300 bonus for its Key Smart Checking account with a direct deposit of at least $2,000 within 90 days.
• SoFi Bank offers up to $300 for new checking and savings accounts with direct deposits, with $50 for $1,000-$4,999 in direct deposits and $300 for $5,000 or more within a 25-day period.
• TD Bank offers a $300 bonus for its TD Beyond Checking account with $2,500 in direct deposits within 60 days, or $200 for its TD Complete Checking account with $500 in direct deposits.
• Capital One is offering a $250 bonus for its 360 Checking account with two direct deposits of at least $500 each within the first 75 days.
• USAA Federal Savings Bank provides a $250 bonus for its Classic Checking account with a $100 direct deposit within 90 days.
• M&T Bank offers bonuses up to $200 for new checking accounts with qualifying direct deposits.

Lucrative Savings and Money Market Account Bonuses

For those looking to grow their savings, several institutions are also providing incentives:

• Morgan Stanley Private Bank offers up to $750 for its Premium Savings Account, requiring a minimum deposit of $25,000 for the lowest tier bonus.
• TD Bank offers a $200 bonus for its Signature Savings or Simple Savings accounts with a $10,000 deposit.
• USAA Federal Savings Bank offers a $200 bonus for its Performance First Savings Account with a $15,000 deposit.
• Discover Bank provides up to $200 for its Online Savings Account, requiring a deposit of at least $15,000.
• Alliant Credit Union offers a $100 bonus after one year for its Ultimate Opportunity Savings Account with consistent monthly deposits.
• BMO offers a bonus of $5 per month, up to $60 annually, for its Savings Builder Account with monthly deposits of at least $200.

Business Account Bonuses

Businesses can also benefit from special offers:

• Huntington National Bank offers up to $1,000 for new business checking accounts, with a $400 bonus for a $5,000 deposit and $1,000 for a $20,000 deposit.
• PNC Bank provides bonuses of up to $1,000 for various business checking accounts, with requirements tied to ledger balances and debit card transactions.
• Axos Bank offers up to $400 for business checking accounts, with bonuses based on balance tiers and transaction activity.
• Truist Bank offers a $400 bonus for its Dynamic or Simple Business Checking accounts with a $2,000 deposit.

Understanding Bank Bonuses

Banks offer these sign-up bonuses as a strategy to attract new customers and increase deposits. While appealing, it’s crucial to read the fine print, understand eligibility requirements, and consider if the account’s features and fees align with your long-term financial needs. Remember that these bonuses are typically taxable income.

Sources

• Bank Of America Savings Bonus, Bankrate.
• Best Bank Account Bonuses For August 2025, Bankrate.
• Citibank New Account Promotions: Checking And Savings Account Bonuses, Bankrate.