Banks have kicked their efforts to attract new customers into high gear. Accessible online banking has given all financial institutions an unprecedented run for their money in today’s ultra-competitive landscape. That’s the main driver for the financial services industry’s recent trend of offering customers attractive bonuses for opening new accounts.
These rewards can total multiple hundreds of dollars. That means the banks are literally willing to pay you for your business. If you’ve got the cash reserves to meet the necessary balance requirements, these amazing bank bonuses will certainly draw your interest.
Chase Sapphire Checking: Score Up to $750
The Chase Sapphire Checking account is available to both new and existing customers. Current Chase clients having the option to upgrade their account to the Sapphire brand. You’ll need a healthy chunk of cash on hand to maximize this bonus. However, if you’ve got the dough available, a cool $750 is there for the taking.
Here’s how to get it. Deposit at least $75,000 worth of qualified assets into eligible Chase Sapphire accounts within 45 calendar days. Then, maintain a daily balance of at least $75,000 for 90 calendar days to nab your automatic bonus. Qualified assets include cash and securities, which can be spread across eligible Chase savings, checking, and brokerage accounts. To learn more, and for the fine print, visit the Chase Sapphire promotional page.
Join SunTrust For Up to $750 in Bonus Cash
Atlanta-based SunTrust Bank has joined the fray by offering new customers up to $750 in bonuses. There are quite a few hoops to jump through. If you do qualify, you’ll enjoy one of the most lucrative rewards on the market. First, open a SunTrust Advantage Checking account. Then deposit $100 within two weeks, then make at least $3,000 in qualified direct deposits. In addition, you’ll have to transact at least 10 debit card purchases. The deposits and the debit transactions must post to your account within the first 60 business days of its activation.
Meeting those requirements will net you a $250 bonus. To get the extra $500, you’ll need to add at least $100,000 in qualified deposits to eligible SunTrust accounts within 30 days of opening them. SunTrust operates regionally, so you’ll need to be a resident of a state where the bank maintains physical locations to be eligible. To learn more, visit the institution’s promotional site.
HSBC Offers Up to $750 for New Checking Account Customers
HSBC is a top 10 global financial institution with a growing footprint in the United States. If you have $100,000 to deposit, consider opening an HSBC Premier Checking account. Park $100,000 in the account within 90 days and you’ll get a whopping $750 as a thank-you gift.
That $100k sets the bar pretty high. Fortunately, HSBC offers two alternatives. First, you can score $350 by placing $10,000 or more in an Advance Checking account within 90 days of activation. At a lower tier, you can also earn an extra $200 by putting $1,500 or more into a new Choice Checking account within 90 days. From a percentage standpoint, the lesser options actually deliver a better bargain: $750 is only 0.75% of $100,000, while $350 is 3.5% of $10,000 and $200 is 13.3% of $1,500.
Become a Citi Priority Account Package Member and Get Up to $600
A lot of bank account bonus offers require customers to make electronic direct deposits to qualify. That isn’t the case at Citi, where new Priority Account Package members can get $600 in bonuses by depositing $50,000 in new funds. There are no other minimums to meet. The only attached string is that the $50,000 must come from outside existing Citi accounts to qualify.
Citi also offers additional bonuses that pay out $100 to $500. In addition, the bank makes it easy to qualify for waived account fees. All you need to do is maintain the balance threshold to earn the reward. Learn more by visiting Citi’s offer page.
Get $400 with Everyday Checking from Wells Fargo
You have until November 27, 2019 to take advantage of this special offer from Wells Fargo. Open a new Everyday Checking account (in person or online) to become eligible for a one-time $400 bonus. To snag the cash, you’ll have to make a minimum initial deposit of $25, then electronically direct-deposit $3,000 or more per month for three straight months. Your first deposit must be made within 150 calendar days to maintain your eligibility, and your account must always have at least $1 in it.
The account comes with a $10 monthly fee, which you can avoid if you satisfy one of the following conditions. Either keep a daily balance of at least $1,500, or make at least 10 debit card transactions per month, or direct-deposit at least $500 every month. Another caveat: this offer is available only in certain regions, so double-check that this offer is available in your area before signing up.
Wrapping It Up
Some of the aforementioned offers are for a limited time only. The window may have closed by the time you investigate further. However, you shouldn’t worry about missing the boat. The banking industry trend toward enticing new business by offering lucrative bonuses appears to be here to stay. Keep your eyes peeled and check back often with your preferred financial institution. Chances are it won’t be long until a similar offer appears.
Also, remember that these are just a few of the many similar offers available out there. Many others deliver lesser bonuses, but they also come with more attainable terms and conditions. Happy hunting and enjoy your free money!