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The 11 Best Banks That Offering Money To Open Accounts

A bank account does more than just help you save money. It is important to have the right bank account because you can manage your money easily using it. To encourage members to get an account, banks will provide you with incentives so that you can open a bank account. This is because you will get bonuses and other cashback rewards that will come with the bank account. These will encourage you to save more and also ensure that you have a bank account you can use when you need a checking account.

There are so many banks that you can open and you will have some benefits as you start to use the accounts. As you look at banks offering money to open accounts, you can look at the several benefits you will get before you start transacting with it.

Best Banks That Offering Money To Open Accounts

banks offering money to open accounts

Here are several banks that will offer you money, bonuses, and rewards when you open an account with them. This makes it enticing for you to have an account with them. You should however look at several other features before you choose the right bank account for you.

The following are the bank accounts that will offer you money to open an account with them:

1. Citibank

When you open a checking account with Citibank, you will be able to earn $1500. You will get a deposit bonus within 20 days after you open the new account. These first 20 days of getting the account will determine the bonus that you will get. The following are how you will earn when you have a Citibank account:

A minimum deposit of any amount of $10,000 to $49,999 will make you earn up to $300. If you keep a minimum balance at $ 50,000 to $199,999 will earn you $700 and anything above $200,000 will earn $1500.

You should however remember that you will be eligible for this offer if you have had a checking account in the past 180 days. This means that you need to open this account and have it for a while before you can get the benefit it offers.

2. HSBC Bank USA

When you open a premier checking account with HSBC and you receive a monthly deposit of up to $5000, you will get $450. You will be eligible for this amount if the amount is for three consecutive months. There is a monthly limit of 100 per month for six months that you will get when you are receiving the starting bonus. If you want to qualify for the $100 you need constant direct deposits to your account. Ensure that you check after every calendar month after you open the checking account.

3. TD Bank

When you open an account with TD bank, you will earn $200. This is an amount that is offered for the Beyond savings and the TD simple savings account. If you have a new savings account, you need to ensure that you keep the balance at $20,000 every month for more than 90 days so that you can get the offer.

It is important to note that you will not be eligible for the offer if you have had a personal money market account with the bank. The only people who will get the offer are new customers and account holders. If you open a convenience checking account and do a direct deposit of $500 within the first 60 days, you will receive a cash bonus of $150.  This bank also offers individuals with new account a $300 bonus if they do the following:

  • Open a checking account online
  • Never had a personal checking account with TD bank before

4. Axos Bank

The Axos Bank offers $20 to anyone who will open an account with them and also an opportunity to make more when you refer a friend. You will get another $20 for referring a friend and your friend will also receive $20 when they open the account. If you want to qualify for the bonus you must make sure your friend:

  • Does not have an Axos bank account
  • Uses the link provided for you by the bank to open their account
  • Receives a direct deposit that is at least $500 within the first 90 days of opening the account
  • Deposit and maintain at least a deposit of $500 for a month after they open their account.

5. M&T Bank

If you open an account with M&T bank, you will receive up to $250 in bonuses. You can earn up to $250 when you open a personal checking account if you do a direct deposit of at least $500 within the first 90 days of opening the account.  Also, you should have this account open for the next 90 days and you should not have another bank account with the same bank. You need to ensure that you are a new customer to the bank.

6. Chase Bank

If you are a college student, you can get up to a $100 bonus if you open a chase bank account for college students. You can also refer a friend and earn $50 if they deposit $500 every calendar year if they open a checking account. There is a $225 bonus for people who open regular personal checking accounts. You must ensure that you make a direct deposit of $500 within the first 90 days. You should also not have a chase bank account before this one.

7. Bank Of America

When you are a new customer and you open a checking account with Bank of America, you will receive a $100 bonus. You must ensure to adhere to the following so that you can qualify for the bonus:

  • Do not have a bank account with Bank of America or be a co-owner is an account within the past 12 months.
  • You should open a safe balance banking, advantage plus, or advantage relationship account online
  • Receive a direct deposit worth at least $250 within the first 90 days of opening your account
  • Make a deposit when opening the account of $25 for an advantage safe balance banking account and $100 if you are opening other types of accounts.

8. PNC Bank

If you do not have an existing bank account with PNC Bank, you can open a checking account and get a bonus within the first 90 days. There are different categories that you can qualify for when you open an account with this bank. You can qualify for $50, $200, or $300 if you have not closed an account with them within the past 90 days.

To earn a $300 bonus, you need to make more than $5000 in direct deposits to your spend account. If you want to qualify for $200, you should have $200 or more in your spend account from direct deposits. You can also earn $50 if you have $500 or more through direct deposits in your spend account.

9. Chime Bank

If you open a personal checking account with Chime, you will get a bonus of $75 and you can also earn another $75 if you prefer another person to open an account.  This is one of the banks offering money to open accounts but you still need to make sure you meet some qualifications. You must make sure of the following to qualify for the bonus:

  • You must be a current chime account holder
  • Have your friend use the bank provided personal link to open their account
  • Receive direct deposits of $200 or more from a payroll provider within 45 days of opening the account

10. Huntington National Bank

With Huntington bank, you can earn a $200, $400, or $750 bonus if you open a personal checking account. There are different accounts you can open with this bank and qualify for the bonus offer. The following are the accounts and how much you will earn when you open the account:

  • Open a business checking 100 and earn $200 when you deposit a minimum of $2000.
  • Open an unlimited business checking account and earn $400 when you deposit a minim of $5000.
  • Open an unlimited plus business checking account and earn 4750 when you deposit a minimum of $20000.

To qualify for any of the offers, you need to have the required deposit within the first 60 days of opening the account. You also need to keep the bank account open for at least 90 days after you open the account of your choice.

11. Capital One Bank

With Capital One bank, you can earn up to $150 when you open a 360 checking account. The new account should be open for at least 75 days and within those days, you should have deposited at least $250. There is a bonus code that you will get so that you can claim your bonus.

To qualify for the bonus you should have the account for the next 75 days after you open it and have the minimum amount in the bank. You should also have a direct deposit of at least $250 either by you or another person. Make sure that you do not already have another bank account with capital one if you want to get your bonus.

How To Choose The Right Bank Account

Even with amazing bonuses and rewards, you need to do a little research when you are choosing a bank account. This is because you need more than just the bonus to open an account with your preferred bank. The following are some factors to consider when you are choosing a bank:

  • Type of account: when you are looking for a bank account, you need to keep in mind what the account is for. If you are starting work, you need one that you can use as your salary account and you can also open a savings account when you need to save. If you need to have more than one account, you should ensure that the bank has what you need.
  • Bank location: although many banks will allow you to open an account with them online, you need to know where the physical location is. This is because when you need help you may have to get to the physical location and get more help than when communicating online or on phone. You can also ask about where the ATMs are in case you may need to make a withdrawal.
  • Services offered: apart from managing your money, you should also ask about other services the bank offers. This can be loans, credit cards, and others that will benefit you in the long run. Ask about the different accounts they have so that you can also choose the one that will suit you.
  • Rewards and bonuses: this is also important especially if you are looking to get a credit card with the bank. Some banks offer rewards when you invite a friend and also when they make certain deposits with the bank. Keep in mind all the terms and conditions you will have to adhere to before you can receive the bonuses.
  • Interests and rates: if you need a loan from your bank, you may need to look at the interest rate they offer. You should inquire aboutany loan services they are willing to offer and what kind of rates you will have when you have the loan you need.

When you find the bank that suits you, it is important to ensure that you keep up with the requirements. No matter how you use your account, you may need a minimum balance so that you can run the account well. Talk to your bank about anything else they offer so that you can benefit more from your bank.

Conclusion

When you are opening an account, you need to ensure that you check the requirements so that you can qualify for bonuses. The banks offering money to open accounts will always look at certain requirements before you can get a reward. Ensure that if you are referring a friend, they also have the minimum balance and the requirement needed.  Keep in mind that some of the bonuses have an expiration period and you need to have a minimum balance before you can get the rewards.

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