The 17 Best Bank Promotions of August 2021

A sign-up bonus isn’t the only reason to choose a bank. But free money to fund your new account sure doesn’t hurt.
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So, you’re looking for a new bank account.

You’ve got several factors to consider — ATM access, interest rates, monthly fees, minimum balances, mobile app reviews, and more.

Another factor: sign-up bonuses. Banks and credit unions frequently run promotions to entice new customers to open an account — and they often come with cash. You have to meet any specific criteria attached to the promotion and keep the account open at least long enough to earn the bonus.

Many banks offer such sign-up bonuses, but often, they aren’t advertised. We did some digging to find the best promotions currently on offer.

Best Bank Promotions of August 2021

We’ve researched the best cash bonuses available this month.

Keep an eye on what it takes to qualify, as well as any limitations. Direct deposit and minimum balances are commonly factors in securing these bonuses. Also pay attention to any monthly fees the account might carry; over time, these could weigh out the actual cash bonus.

Happy bank bonus shopping!

17 Bank Promotions that Give You Cash

Bank Promotion
Aspiration Account $150 See Details
Aspiration Plus $200 See Details
Chase Total Checking $225 See Details
TD Bank Convenience Checking $150 See Details
Chime Referral Bonus $75 See Details
Capital One 360 Checking $150 See Details
Bank of America Advantage Banking $100 See Details
PNC Virtual Wallet $50 See Details
PNC Virtual Wallet with Performance Spend $200 See Details
PNC Virtual Wallet with Performance Select $300 See Details
HSBC Premier Checking $450 See Details
Citizens Student Checking Up to $400 See Details
Citizens One Deposit Checking Up to $400 See Details
Citizens Quest Checking Up to $400 See Details
Huntington Asterisk-Free Checking $150 See Details
Huntington 5 Checking $200 See Details
TD Bank Beyond Checking $300 See Details
Aspiration Account
Key Features
  • No monthly fee.
  • No minimum balance.

Once you open your account, Aspiration will send you a debit card. Use it to make at least $1,000 of cumulative transactions within the first 60 days. The FDIC-insured account offers up to 1.00% APY on savings and allows fee-free withdrawals at more than 55,000 ATMs. You’ll earn up to 5% cash back when you spend at socially conscious businesses.
Aspiration Account

Bonus amount
$150
How to get it
Open your Aspiration account and deposit at least $10.
When you get it
Within 120 calendar days.
The fine print
Monthly fees are on a “Pay What is Fair” policy.
Expiration
None

Aspiration Plus
Key Features
  • $15 monthly fee, or $150 paid annually
  • No minimum balance.

Once you open your account, Aspiration will send you a debit card. Use it to make at least $1,000 of cumulative transactions within the first 60 days. The FDIC-insured account offers up to 1.00% APY on savings and allows fee-free withdrawals at more than 55,000 ATMs. You’ll earn up to 10% cash back at socially conscious businesses and get monthly out-of-network ATM reimbursement.
Aspiration Plus

Bonus amount
$200
How to get it
Open your Aspiration account and deposit at least $10.
When you get it
Within 120 calendar days.
The fine print
$15 monthly fee
Expiration
None

Chase Total Checking
Key Features
  • $12 monthly fee
  • Fee waived by meeting conditions.

The Total Checking account carries a $12 monthly service fee, but you can have it waived if you receive direct deposits each month totaling $500 or more, keep a daily minimum balance of at least $1,500, or keep a daily minimum balance across all your Chase accounts of at least $5,000. Direct deposits from person-to-person payments do not qualify.
Chase Total Checking

Bonus amount
$225
How to get it
Receive a direct deposit within 90 days of opening account.
When you get it
Within 15 business days.
The fine print
$12 monthly fee, which can be waived.
Expiration
Oct. 18, 2021

TD Bank Convenience Checking
Key Features
  • Easy for beginners.
  • Fee can be waived.

This checking account option is good for financial beginners to manage. You only need to maintain a minimum balance of $100 to have the monthly maintenance fee waived. And if you are between the age of 17 and 23, there are no minimum balance requirements and no monthly fees. The Convenience Checking account does not earn interest.
TD Bank Convenience Checking

Bonus amount
$150
How to get it
Receive direct deposits of $500 or more within 60 days of opening new account.
When you get it
Within 140 days.
The fine print
Monthly fee waived with $100 minimum balance.
Expiration
None

Chime Referral Bonus
Key Features
  • Must be current Chime account holder

If you refer a friend and they enroll and receive a direct deposit of $200 or more in the first 45 days, you will each receive $75. Make sure to use the referral link from your account.
Chime Referral Bonus

Bonus amount
$75 per referral, plus $75 to the friend you refer
How to get it
Referred friend receives $200 direct deposit.
When you get it
Within two business days.
The fine print
Be sure to use a unique referral link from your own account.
Expiration
None

Capital One 360 Checking
Key Features
  • Longer time before bonus is paid

Within 75 days of opening the account, you must receive two direct deposits each of at least $250. If you have opened account between Jan. 1, 2018, and now with Capital One, you will not qualify for the bonus.
Capital One 360 Checking

Bonus amount
$150
How to get it
Open an account using promo code BONUS150. Receive direct deposits each of at least $250.
When you get it
By Jan. 31, 2022
The fine print
Direct deposits from person-to-person payments do not qualify.
Expiration
Aug. 17, 2021

Bank of America Advantage Banking
Key Features
  • Monthly fees can be waived.

Open your new account online using the code DDX100CIS. Direct deposit must be regular monthly income, such as salary or pension payments. Advantage Banking accounts come in three levels: SafeBalance, Plus and Relationship. All three carry monthly maintenance fees that can be waived by meeting direct deposit and minimum balanance requirements.
Bank of America Advantage Bank

Bonus amount
$100
How to get it
Receive direct deposits totaling at least $1,000 within 90 days.
When you get it
Within 60 days.
The fine print
Monthly fees can be waived.
Expiration
Dec. 31, 2021

PNC Virtual Wallet
Key Features
  • Monthly fee can be waived.

Qualifying direct deposits include paychecks, Social Security, pension or other recurring monthly income. The account carries a monthly service charge that can be waived if you have $500 or more in monthly direct deposits; you maintain $500 or more between associated Spend and Reserve accounts; or are 62 or older. This account does not earn interest.
PNC Virtual Wallet

Bonus amount
$50
How to get it
Receive qualifying direct deposits of $500 within the first 60 days.
When you get it
60 to 90 days
The fine print
Cannot have a current PNC account or have closed an account within the previous 90 days.
Expiration
Sept. 30, 2021

PNC Virtual Wallet with Performance Spend
Key Features
  • Monthly fee can be waived
  • High direct deposit thresholds

Qualifying direct deposits include paychecks, Social Security, pension or other recurring monthly income. The account carries a monthly service charge that can be waived if you have $2,000 or more in monthly direct deposits; you maintain $2,000 or more between associated Spend and Reserve accounts; or have at least $10,000 across all consumer PNC accounts.
Performance Spend

Bonus amount
$200
How to get it
Receive qualifying direct deposits of $2,000 within the first 60 days.
When you get it
60 to 90 days
The fine print
Cannot have a current PNC account or have closed an account within the previous 90 days.
Expiration
Sept. 30, 2021

PNC Virtual Wallet with Performance Select
Key Features
  • Monthly fee can be waived.
  • Highest direct deposit requirements.

Qualifying direct deposits include paychecks, Social Security, pension or other recurring monthly income. The account carries a monthly service charge that can be waived if you have $5,000 or more in monthly direct deposits; you maintain $5,000 or more between associated Spend and Reserve accounts; or have at least $25,000 across all consumer PNC accounts.
Performance Select

Bonus amount
$300
How to get it
Receive qualifying direct deposits of $5,000 within the first 60 days.
When you get it
60 to 90 days.
The fine print
Cannot have a current PNC account or have closed an account within the previous 90 days.
Expiration
Sept. 30, 2021

HSBC Premier Checking
Key Features
  • Restrictions on who can own the accoun

This offer is only open to applicants who are 18 or older, who are citizens of the United States, and who did not have an HSBC deposit account between March 31, 2018 and March 31, 2021.
HSBC Premier Checking

Bonus amount
$450
How to get it
Receive at least $5,000 in direct deposits from a third party for three consecutive months
When you get it
Within eight weeks.
The fine print
Must be 18 years old and a U.S. citizen.
Expiration
Aug. 31, 2021

Citizens Student Checking
Key Features
  • Only for new customers 25 and under
  • No monthly fee

Open a new account via the offer page and receive a direct deposit of $500 or more within 60 days to receive a $300 bonus. Receive up to $100 more by using your debit card. For every debit card purchase you make, you will earn $2, up to $100, during the first 60 days. Direct deposits must be regular monthly income. This account does not earn interest.
Citizens Student Checking

Bonus amount
Up to $400
How to get it
Direct deposit of $500, and use your debit card in first 60 days.
When you get it
As soon as Dec. 31.
The fine print
You must be a new Citizens banking customer and under 25 years old.
Expiration
Oct. 28, 2021

Citizens One Deposit Checking
Key Features
  • $9.99 monthly fee, which can be waived

Open a new account via the offer page and receive a direct deposit of $500 or more within 60 days to receive a $300 bonus. Receive up to $100 more by using your debit card. For every debit card purchase you make, you will earn $2, up to $100, during the first 60 days. Direct deposits must be regular monthly income. This account does not earn interest.
Citizens One Deposit Checking

Bonus amount
Up to $400
How to get it
Direct deposit of $500, and use your debit card in first 60 days.
When you get it
As soon as Dec. 31.
The fine print
You must be a new Citizens banking customer.
Expiration
Oct. 28, 2021

Citizens Quest Checking
Key Features
  • $25 monthly fee, which can be waived.

Open a new account and receive a direct deposit of $500 or more within 60 days to receive a $300 bonus. Receive up to $100 more by using your debit card. For every debit card purchase you make, you will earn $2, up to $100, during the first 60 days. Direct deposits must be regular monthly income. $25 monthly maintenance fee can be waived by making at least $5,000 in deposits each month.
Citizens Quest Checking

Bonus amount
Up to $400
How to get it
Direct deposit of $500, and use your debit card in first 60 days.
When you get it
As soon as Dec. 31.
The fine print
You must be a new Citizens banking customer.
Expiration
Oct. 28, 2021

Huntington Asterisk-Free Checking
Key Features
  • Quick bonus payout
  • Only available in certain states

This offer is only available to customers who live in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania or West Virginia. This account does not earn interest.
Huntington Asterisk-Free Check

Bonus amount
$150
How to get it
Open a new account and make deposits totaling $1,000 within the first 60 days.
When you get it
Within 14 days
The fine print
Must keep the account open for at least 90 days.
Expiration
Oct. 7, 2021

Huntington 5 Checking
Key Features
  • Quick bonus payout
  • Only available in certain states

This offer is only available to customers who live in Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania or West Virginia. This account earns interest (currently a 0.02% APY, which is quite low). It also has a monthly maintenance fee of $5, which is waived if you have at least $5,000 across all Huntington accounts.
Huntington 5 Checking

Bonus Amount
$200
How to get it
Open a new account and make deposits totaling $1,000 within the first 60 days.
When you get it
Within 14 days.
The fine print
Must keep the account open for at least 90 days.
Expiration
Oct. 7, 2021

TD Bank Beyond Checking
Key Features
  • Requires high balance to avoid fees

The monthly maintenance fee is waived if you receive monthly direct deposits of $5,000, keep a minimum daily balance of $2,500 or maintain a combined balance across all your TD bank accounts of $25,000. You won’t face fees for making withdrawals at TD Bank ATMs, and it’ll reimburse all fees for withdrawing at non-TD ATMs as long as you keep your daily balance at $2,500 or more.
TD Bank Beyond Checking

Bonus amount
$300
How to get it
Open a new account and receive $2,500 or more via direct deposit within 60 days.
When you get it
Within 140 days.
The fine print
Monthly fee waived with $5,000 in direct deposits or $2,500 daily balance.
Expiration
Never

How to Search for Bank Bonuses on Your Own

Instead of 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 a small business checking account or finding the perfect investment account. There are often bonus offers attached to these accounts too.

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 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.
  • Reach out to the bank’s customer service. 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.
  • Google the best bank account bonuses. You’ll likely dig up some offers from third-party sites, so make sure the offer:
    • Hasn’t expired.
    • Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. 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.
  • Reach out to your own 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 the 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 credit 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 credit score.

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.