$300 Checking Account Bonus for September 2023

A checking account bonus can be a tempting boost to your finances. Check if you can earn free money from these banks.

Looking for a new checking account?

The opportunity to get a cash reward for opening a checking account couldn't come at a better time. Check out these current $300+ bonuses for new applicants.

Member FDIC

TD Beyond Checking - $300 Cash Bonus

• New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
• Three ways to go monthly maintenance fee-free: Monthly Maintenance fee waived when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance, or have a $25,000 combined balance across eligible TD accounts.
• ATM perks: TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
• A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
• Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
• Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
• Get reimbursed for fees including two overdraft fees per year, all Rush Bill Payments, and one outgoing wire per statement cycle (domestic or international).
• Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send
• Money with Zelle®, Mobile Deposit and Online Statements.

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Expires 10/31/2023

• Direct Deposit Required: Yes
• Minimum Deposit Required: $2,500 within 60 days

How to Get More Than $300 from Banks

Discover even more rewarding checking bonuses exceeding $300.

Keep in mind that some of these offers have stricter criteria to qualify. See if you meet their requirements.

Citi Priority - Earn up to $2,000 Cash Bonus

• Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day
• New to Relationship customers can choose their Relationship Tier.
• Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
• Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
• If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
• Bonus will be paid within 30 days after you successfully complete all required activities.
• Restrictions apply.

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Expires 1/9/2024

• Minimum Deposit to Open: $30k

Member FDIC

BMO Smart Advantage Checking - $400 Cash Bonus

Open a new BMO Smart Advantage Checking online and get a $400 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

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Expires 12/8/2023

• Direct Deposit Required: Yes

Member FDIC

BMO Smart Money Checking - $400 Cash Bonus

Open a new BMO Smart Money Checking online and get a $400 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

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Expires 12/8/2023

• Direct Deposit Required: Yes

Member FDIC

BMO Relationship Checking - $600 Cash Bonus

Open a new BMO Relationship Checking and get a $600 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

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Expires 12/8/2023

• Direct Deposit Required: Yes

Citigold® - Earn up to $2,000 Bonus

• Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day.
• New to Relationship customers can choose their Relationship Tier.
• Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
• Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
• If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
• Bonus will be paid within 30 days after you successfully complete all required activities.
• Restrictions apply

Learn More

Expires 1/9/2024

• Minimum Deposit to Open: $200k

Member FDIC

Chase Private Client - $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; can be completed online or over the phone.
• Experience a financial relationship that brings you more.
• Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.

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Expires 10/18/2023

Member FDIC

U.S. Bank Smartly® Checking and Standard Savings - Up to $1,000 Bonus

Earn up to $1,000 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through October 31 2023. Member FDIC.

Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:

• Enroll in online banking or the U.S. Bank Mobile App
• Make two or more direct deposit(s)* totaling $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500

Earn up to $400 with a new Standard Savings account.

• Make new money deposit(s) totaling $25,000 to $49,999.99 to earn $200 or $50,000 or more to earn $400 by November 30, 2023
• Maintain that balance until May 31, 2024

Earn an additional $100 for opening both!

Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for Checking account

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Expires 10/31/2023

• Minimum Deposit to Open: $25

How to Get a $300 Checking Bonus

1. Review the terms and conditions of the $300 offer carefully.
   
2. Follow the instructions to open a new checking account, either online or in-person at a branch.
   
3. Fulfill all qualifying activities for the bonus (deposit the required amount, etc.).
   
4. Receive your $300 bonus, typically in a few days or weeks after completing the requirements.
   
5. Keep your account open for the specified period to avoid forfeiting the bonus.

What Is a Checking Account Bonus?

A checking account bonus is a promotional offer by banks and financial institutions to incentivize individuals to open a new checking account.

It typically involves a cash reward if you meet certain requirements outlined by the bank, such as:

• Maintain a minimum account balance
  
• Set up direct deposits
  
• Fulfill specific transaction criteria

The bonus amount varies by bank and offer terms, ranging from a hundred to a few thousand dollars. Typically, the larger the bonus, the higher the requirements to get it.

Why Do Banks Offer Account Bonuses?

Here are some reasons banks offer checking account bonuses:

• Gain new customers
  By offering a cash bonus, banks aim to entice you to open an account with them rather than with a competitor.

• Build lasting relationships
  Once you're a customer with the bank, you may also use their other services, such as credit cards and loans.

• Increase deposits and transactions
  When you fulfill bank bonus requirements like maintaining a balance or completing a specific number of transactions, these actions contribute to the bank's performance.

Ultimately, checking account bonuses can be a great way for the bank to get new customers and remain competitive. And you get a nice little reward for opening a new account. It's a win-win.

Does the $300 Bonus Make Sense for You?

An extra $300 is attractive, but not all offers may work for you. Here's some things to consider to choose the best bonus deal:

• Compare offers
  There may be banks offering the same bonus amount. Look closely at the overall value of the checking account.

  Maybe Bank A offers better features and services than Bank B. Examine potential fees and other account requirements.

• Qualifications
  What does it take to earn the $300? Review the eligibility criteria and see if you can meet them comfortably. It shouldn't be super inconvenient or cost you money to earn the bonus.

• Account monthly fees
  Does the bank account have a monthly fee? If so, can you meet the criteria to waive it? Otherwise, it doesn't make sense to get a bonus, but pay fees that eat into it.

• Potential for a long-term relationship
  Assess whether the bank's overall offerings align with your long-term banking needs. After all, building a positive relationship with a reliable bank is sometimes more important than a one-time bonus.

• Weigh opportunity cost
  Consider what else you can do with the funds that would be required to fulfill the bonus criteria.

  If you need to put in a high amount, consider alternative investments or financial options that could provide a better return on your money.

How Are Checking Account Bonuses Paid Out?

Checking account bonuses are typically deposited straight into your new account after you've completed the qualifying requirements. This may take a few days to several weeks.

Generally, your account must be open and in good standing when the bonus is paid out.

Is There a Catch?

Bank promotions usually have no catch as long as you fulfill the requirements. It's a legit cash reward for you to keep.

However, check if the eligibility criteria are doable. If the promo requires you to receive a certain amount in direct deposit, would you be willing to switch over your direct deposit to the new bank?

You also have to keep in mind the time commitment that may be involved in claiming the checking account bonus.

You may be required to keep the account open for a certain amount of time. Sometimes, if you close the account sooner, your bonus will be taken back. This is to prevent people from opening and closing accounts just for bonuses.

What Is Bank Account Churning?

Bank account churning is when you open multiple bank accounts to take advantage of the different bonus offers.

It usually involves repeatedly opening and closing accounts to meet the requirements for earning bonuses.

However, many banks have specific rules and limitations on account churning. These may include:

• Restricting the number of times to open and close accounts
  
• Imposing fees for early account closures
  
• Disqualifying individuals from joining future promotions

In addition, repeated account openings and closures can impact your ChexSystems report. Banks may hesitate to approve your application if you have this behavior pattern.

Checking Account Bonus FAQs

Are checking bonuses taxable?
Yes, checking bonuses are taxable. When you receive your bonus, the bank usually issues a Form 1099-INT to report to the Internal Revenue Service. Whether you receive one or not, you are required to include it in your tax return.

Are checking account promotions a good deal?
Yes, checking account promotions could be worth it if you can easily meet the requirements and the bank fits your needs. If maintaining the account will be a hassle, it probably doesn't make sense to open just for the bonus.

Can I sign up for multiple checking accounts to earn their bonuses?
Yes, you can sign up with more than one checking account to collect bonuses. But, if you often engage in this practice, it may negatively impact your ChexSystems report.

Can I close the account after receiving the bonus?
Many banks don't allow you to close your account for a certain period after receiving the bonus. If you do, you will be required to return the amount to the bank. Other penalties may also be charged.