The 11 Best Bank Promotions of July 2020 (Up to $700 Cash!)

A woman uses an ATM on a city street.
Carmen Mandato/ The Penny Hoarder
Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

So, you’re looking for a new bank account.

You’ve got several factors to consider — including bank promotions. Wouldn’t it be nice to fund your shiny new account with some extra cash?

Many banks offer sign-up bonuses. No, these bonuses aren’t always advertised, but we did some digging and found you some hefty cash offers.

Best Bank Promotions of July 2020

We’ve researched the best cash bonuses available this month so you don’t have to. Below, you’ll find our favorite checking and savings account bonuses.

Keep an eye on what it takes to qualify, as well as any limitations. Direct deposit and minimum balances are common factors in securing these bonuses. Otherwise, happy bank bonus shopping!

1. TD Bank Beyond Account: $300

Bonus: $300

To qualify: You must receive a total of $2,500 or more via direct deposit within 60 days of opening your new account. Then the $300 bonus will be deposited into your account within 95 days of opening.

Limitations: This account is not available in every state, so be sure to check. Additionally, there’s no minimum to open an account, but you must maintain a minimum daily balance of $2,500 to avoid the $25 monthly maintenance fee.

Sign up: Visit this TD Checking page, and enter your city and state. Click the orange “open account” button, and follow the instructions to open a TD Beyond Checking account.

No offer expiration.

2. TD Bank Convenience Checking Account: $150

Bonus: $150

To qualify: You must receive direct deposits totaling $500 or more into your new account within 60 days of opening. The $150 bonus will be deposited into your account within 95 days of opening.

Limitations: This account is not available in every state, so be sure to check. There’s no minimum balance requirement to open an account, but you should maintain a $100 daily minimum balance to avoid the $15 monthly maintenance fee.

Sign up: Visit this TD Checking page. Tab over to the correct account, click the orange “open account” button, and follow the instructions to open a TD Convenience Checking account.

No offer expiration.

3. Wells Fargo Everyday Checking Account: $400

Bonus: $400

To qualify: After opening your new account, you must make a minimum deposit of $25. Then you need to set up direct deposit and receive at least $4,000 in your account via direct deposit within 90 days of opening.

Limitations: The offer is available in Dallas, Denver, Houston, Miami, Orlando, Phoenix, Seattle and Washington, D.C. The offer is only valid when you open an account online. If you don’t qualify for the Everyday Checking account but you do qualify for the Opportunity Checking, you can apply this bonus to that account.

Sign up: Open your Wells Fargo Everyday Checking Account here. Your bonus will deposit into your account within 30 calendar days of meeting the requirements.

Offer expires July 31, 2020.

4. Chase Total Checking Account: $200

Bonus: $200

To qualify: Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit.

Limitations: Must be a new Chase customer. Must direct deposit $500 a month in this and/or any linked Chase accounts or have a balance of $1,500 a month each day to waive the $12 monthly service fee.

Sign up: Visit this Chase Total Checking page to apply online, or enter your email address to get a unique coupon to take with you to open your account at any Chase branch while the offer is valid.

Offer expires Oct. 14, 2020.

5. Chase Premier Plus Checking Account: $300

A woman works from home with her daughter.
Getty Images

Bonus: $300

To qualify: Get a $300 bonus when you open a new Chase Premier Plus Checking account and set up direct deposit. Make your first direct deposit into this account within 90 days.

Limitations: Must be a new Chase customer.

Sign up: Visit this Chase Premier Plus Checking page to apply online, or enter your email address to get a unique coupon to take with you to open your account at any Chase branch while the offer is valid.

Offer expires Oct. 14, 2020.

6. Associated Bank Access Checking: Up to $75

Bonus: Up to $75

To qualify: Get a $50 bonus when you open a new Associated Access Checking account with a minimum deposit of $25 and make at least three payments using Associated Bank Online Bill Pay or receive one direct deposit of $300 or more within the first 45 days. Get an additional $25 bonus (2,500-point equivalent) if you use the Visa Real Rewards Credit Card, which also delivers 1.5 points per $1 spent (1.5% cash back equivalent).

Limitations: Must be a new Associated Access Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide.

Sign up: Visit this Associated Bank account sign-up page and select the appropriate account.

Offer expires December 31, 2020.

7. Associated Bank Balanced Checking: Up to $300

Bonus: Up to $300

To qualify: Get a $175 bonus when you open a new Associated Balanced Checking account with a minimum deposit of $100 and make at least three payments using Associated Bank Online Bill Pay or receive one direct deposit of $300 or more within the first 45 days. Get an additional $100 bonus when you pair the account with an Associated Select Money Market account with a minimum deposit of $10,000. Finally, get an additional $25 bonus (2,500-point equivalent) if you use the Visa Real Rewards Credit Card, which also delivers 1.5 points per $1 spent (1.5% cash back equivalent).

Limitations: Must be a new Associated Balanced Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide.

Sign up: Visit this Associated Bank account sign-up page and select the appropriate account.

Offer expires December 31, 2020.

8. Associated Bank Choice Checking: Up to $500

Bonus: Up to $500

To qualify: Get a $400 bonus when you open a new Associated Choice Checking account with a minimum deposit of $100 and make at least three payments using Associated Bank Online Bill Pay or receive one direct deposit of $300 or more within the first 45 days; you must also open an Associated Relationship Savings account with a minimum deposit of $25,000. The minimum balance combined between the two accounts must remain $25,000 for at least 90 days. Get an additional $100 (10,000-point equivalent) if you use the American Express Premier Rewards Credit Card, which also delivers varying amounts of points (cash back equivalent) for different purchase types (restaurants, airline, fuel and others).

Limitations: Must be a new Associated Choice Checking and Associated Relationship Savings customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide.

Sign up: Visit this Associated Bank account sign-up page and select the appropriate account.

Offer expires December 31, 2020.

9. Huntington Asterisk-Free Checking: $150

Bonus: $150

To qualify: Open a new Huntington Asterisk-Free Checking account, deposit $1,000 within 60 days, and keep it open for at least 90 days.

Limitations: This offer is limited to residents of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.

Sign up: Click “apply online” under the Asterisk-Free Checking account on this page to have the bonus applied.

Offer expires July 7, 2020.

10. Huntington 5 Checking: $200

A man uses an ATM.
Chris Zuppa/The Penny Hoarder

Bonus: $200

To qualify: Open a new Huntington 5 Checking account, deposit $1,000 within 60 days, and keep it open for at least 90 days.

Limitations: This offer is limited to residents of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.

Sign up: Click “apply online” under the 5 Checking account on this page to have the bonus applied.

Offer expires July 7, 2020.

11. Huntington 25 Checking: $200

Bonus: $200

To qualify: Open a new Huntington 5 Checking account, deposit at least $15,000 cumulatively within 60 days, and keep it open for at least 90 days.

Limitations: This offer is limited to residents of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.

Sign up: Click “apply online” on this page to have the bonus applied.

Offer expires July 7, 2020.

How to Search for Bank Promotions on Your Own

In the spirit of not listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.

But maybe you’re interested in banking with your local credit union, opening up a small business checking account or finding the perfect investment account? There are often bonus offers attached to these account openings, too.

The banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.

  • Check the bank’s website first. Sometimes it’ll advertise its promotions right there. This is rare, but it’s worth a quick check — it could save you a ton of time.
  • If you don’t have any luck, reach out to the bank’s customer service team through phone, email or chat. Let them know you’re shopping for a new account, and you’d like to know if it’s running any promotions. More often than not, the nice representative will send you a special link.
  • If this doesn’t work, turn to your trusty friend Google. Look for the best bank promotions. Because you’ll likely dig up some offers from third-party sites, you’ll want to take a few minutes to make sure the offer:
    • Hasn’t expired.
    • Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. You can even read some online reviews.
    • Doesn’t require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000 and carry out 60 qualifying debit card purchases before the end of your first 30-day statement cycle.
  • You can also reach out to your family, friends and social network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.

Overall, be smart. Don’t let that promise of an account bonus blind you. Also, read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties.

Will Opening a Bank Account Hurt Your Credit Score?

If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and therefore have no effect on your score, unless you have an outstanding negative balance that the bank turns over to a collection agency.

Sometimes when you go to open a new bank account, banks will do a soft credit check. However, that won’t affect your score.

Now, go enjoy your fresh new bank account and that nice cash bonus you’re about to pocket. Add it to your savings account, put it toward student loan payments or, heck, treat yourself!

*Chase Fine Print

Checking offer is not available to existing Chase checking customers, those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance. To receive the $150 checking bonus: 1) Open a new Chase Total Checking account, which is subject to approval; 2) Deposit $25 or more at account opening; AND 3) Have your direct deposit made to this account within 60 days of account opening. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. After you have completed all the above requirements, we’ll deposit the bonus in your new account within 10 business days. You can only receive one new checking account-related bonus per calendar year. Bonus is considered interest and will be reported on IRS Form 1099-INT.

Account Closing: If your checking account is closed within six months after opening, we will deduct the bonus amount at closing.

Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.