$400 Checking Account Bonus for September 2023

Did you know you can earn $400 by opening a new checking account? Learn how you can qualify and enjoy other rewards with these banks.

Looking to supercharge your bank balance?

Sifting through so many banking promotions that may not be worth your time can be tiresome.

Instead, you can easily peer over these $400 checking bonuses that let you earn some cash.

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

How to Get More Than $400 from Banks

Are there banks with bigger bonuses? Of course, there are!

Check out more rewarding opportunities that go above and beyond $400.

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 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

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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

What Is a $400 Checking Account Bonus?

A $400 checking account bonus is a promotional offer by banks to attract new clients. It's typically a cash reward for individuals who meet certain bank requirements.

The specific details of checking account bonuses can vary from bank to bank. However, they often involve fulfilling criteria within a given timeframe. These may include actions such as:

• Opening a new checking account
  
• Depositing a minimum amount of money
  
• Setting up qualifying direct deposits or transactions

Once the requirements are met, the bank usually rewards the account holder with the bonus amount within several days to weeks.

Why Do Banks Give Out Bonuses for New Customers?

Banks offer checking bonuses primarily to attract new customers. They aim to reward individuals for opening a new checking account with them rather than with their competitors.

In addition, banks understand that a checking account is often the entry point for a long-term relationship with you.

They aim to make a positive first impression and build loyalty by offering a bonus. After all, a satisfied customer may be more inclined to use additional banking products and services like loans, or credit cards, in the future.

What To Expect When Obtaining a Checking Account Bonus

Bonuses will differ among banks, so always review the terms and conditions before deciding on a promotion. In general, here's what you can expect:

• Bonuses are intended for new customers.
  You are usually a new customer to qualify for a checking account bonus. You either don't have an existing relationship with the bank or don't have a checking account with them.
  You may still qualify for a bonus in a different account category if you're an existing customer of the bank. For example, you could apply for a business checking account with a bonus promotion even if you already have a personal checking account.

• Some bonuses are limited time offers.
  Often, bonuses are available for just a certain amount of time. Check if you can fulfill their requirements to sign up before it expires.

• Bonuses will have specific timeframes to complete requirements.
  The promotion should clearly state the actions involved in earning the bonus plus when you need to do them. For example, deposit $X within 30 days of account opening, and maintain the balance for 90 days.

  Also, you must likely keep your account open for some time. Or else you may lose your bonus.

• Some bonuses are tiered.
  Banks may offer tiered bonus rewards for opening the same account. Usually, the higher the bonus offer is, the higher the amount you need to fulfill. Other times, your bonuses stack up every time you complete a required action.

• Checking account bonuses are taxable.
  The bank usually reports your bonus as taxable income and provides you with a Form 1099-INT or a similar tax document.

How Can I Get a $400 Bonus?

1. Review the terms and conditions of the $400 offer carefully.
   
2. Follow the instructions to open a new checking account online or at a branch.
   
3. Fulfill all criteria for the bonus, i.e., deposit the required amount, set up direct deposit, etc.
   
4. You typically receive your $400 bonus in a few days or weeks after completing the requirements.
   
5. Keep your account open for the specified duration to avoid forfeiting your bonus.

FAQs

Is it possible to get multiple checking account bonuses?
Yes, you can sign up for different checking account bonuses from different banks. However, it's important to review each offer's terms and conditions and see if you can fulfill them.

Can I close the checking account once I have received the bonus?
Banks usually require you to keep your new account open for a period after receiving the bonus. If you close the account prematurely, you may need to return the bonus or pay penalties.

What should a good checking account offer for free?
A good checking account generally provides free transfers to other banks, online bill pay, mobile check deposits, and free ATM withdrawals within their network. It often has no monthly fees or options to waive.

What bank gives you money for opening a checking account?
Chase Bank is known to put up cash bonuses for new customers who meet certain requirements. Other banks include Wells Fargo, Bank of America, and Citibank, to name a few. Note their bonus offers are often available only within a given period.