$2,000 Bank Bonus for May 2024
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links.
Some banks offer a huge $2,000 cash bonus when you open a new bank account. But there's something you have to do first.
 |
If you regularly keep very large balances in your bank account, there are $2,000 bonuses up for grabs from the nation's top banks.
Of course, big requirements come with this big bonus. Find out if you can qualify.
How to Get More Than $2,000 from Banks
A $2,000 bonus may be eye-popping as it is, but there are even higher bonuses for the taking. Check out these offers.
Chase Private Client - Up to $3,000 Bonus
- You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
- Speak with a Private Client Banker to open your Chase Private Client Checking℠ account today. Schedule your meeting at your nearest branch or over the phone.
- Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker who is ready to help you.
Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000. - No ATM fees worldwide.
- No Chase fee on incoming or outgoing wire transfers.
- Enjoy higher limits on Chase Private Client debit card purchases and ATM withdrawals, as well as higher Zelle® and Chase QuickDeposit℠ limits.
- Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.
What Is A $2,000 Bank Bonus?
A $2,000 bank bonus is usually offered by big banks to incentivize high net-worth clients to switch banks. Typically, they're for premium checking accounts.
Getting this substantial amount usually comes with tougher strings attached. These usually include a large deposit (typically 6 figures), which must be parked for a specific period.
But if you're up for the challenge, two grand could be worth it.
Here are some banks with huge promos for opening a new account:
- U.S. Bank Smartly® Checking and Standard Savings:
Up to $700 Bonus - Citigold®:
Up to $2,500 Cash Bonus - Chase Private Client:
Up to $3,000 Bonus - Wells Fargo:
Personal Checking Account - $3,500 Bonus - Huntington:
Personal Checking Account - $600 Bonus - Associated Bank:
Bank At Work - $600 Bonus - Teachers Federal Credit Union:
Deposit and Earn $1,000 Bonus - Columbia Bank:
Personal Checking Account - $800 Bonus - Liberty Bank for Savings:
Personal Checking and Savings Account - $600 Bonus - Arizona Central Credit Union:
Personal Checking Account - $500 Bonus
Why Do Banks Offer Bonuses?
Banks offer enticing bonus offers because not only will you benefit from them, but they will too.
You see, banks hope that you will bring more business to them once you've opened an account and claimed your bonus. They expect you to keep balances, perform transactions, and try out other services.
Banks are hoping it'll be a long-lasting relationship. By handing out bonuses, it's making a good first impression so you stick around for longer.
What to Know About $2,000 Checking Bonuses
$2,000 is surely a nice chunk of change. But here's the lowdown on this awesome welcome gift.
Bonuses are intended for new customers.
You need to be a new customer to qualify for a checking account bonus. Or you must not have owned a checking account with the bank for a certain amount of time.
They're usually for high net worth people.
Let's face it, you really have to be in good financial standing yourself to meet the criteria for a $2,000 bonus. Thus, not a lot of people can get in on the action.
Meet deadlines for requirements.
Usually, you must deposit new funds within a certain number of days after you open a promotional account. And also take note if you must maintain that balance for a period of time.
Read the fine print.
Read the offer terms and conditions like a detective. Sometimes, depositing a large sum isn't enough. There may be hidden clauses that disqualify you.
You may still withdraw cash.
You can still take out money from your account even during the qualification period. But your remaining balance should still meet the minimum requirement in order to get the bonus.
Be careful of ongoing costs.
$2,000 bonuses are usually for premium bank accounts. These typically have higher monthly fees and requirements to waive. So make sure the account fits your needs.
You can open a bank account for its bonus incentive as long as you can fulfill the requirements. But, doing this too frequently within a short span may affect your ChexSystems report, which most banks refer to when processing approvals for account opening.
Are Bank Bonuses Taxable?
Yes, a checking bonus is considered taxable income, and it will be taxed at the same rate as your ordinary income.[1]
The bank may provide you with a Form 1099-INT, reporting the bonus amount as interest income. Even if they don't, you need to report it on your tax return.
Bottom Line
Claiming a $2,000 bonus will have some hefty requirements.
But if you're financially qualified and looking to make some money (with your money), this incentive may provide you with a fantastic opportunity.
References
- ^ IRS. Topic No. 403, Interest Received, Retrieved 9/12/2023
Write to Penny Besana at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
|
|
| ||||||
|
|
|
