$500 Checking Account Bonus for September 2023

Looking for ways to get $500? Discover these fantastic bank bonus offers that let you score extra cash by opening a new checking account.

Picture this: you open a checking account, fulfill a few requirements, and voila! A cool $500 finds its way into your wallet.

It's an irresistible offer that can put a spring in your finances, making banking a little more exciting.

Check out these banks that are practically giving away $500 checking bonuses.

How to Get More Than $500 from Banks

Want more rewarding bonuses? See if you qualify for these bank offers with even larger incentives.

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 $500 Checking Account Bonus?

A $500 checking account bonus is offered by banks as an incentive to customers for opening a new checking account with them. You have to fulfill certain criteria to earn the bonus, such as:

• Receive a certain amount in qualifying direct deposits
  
• Deposit a certain amount within a specific timeframe
  
• Maintain a certain balance

A $500 bonus isn't a small amount, so there are typically higher requirements to earn it. For example, you may need to deposit several thousand dollars (or more) into the new checking account.

These conditions ensure customers engage with the bank's services and maintain an ongoing relationship.

What to Know About $500 Checking Bonuses

Getting $500 is a great opportunity to earn additional money. But here are some things you should know first:

Bonuses are intended for new customers.
You need to be a new customer to qualify for a checking account bonus. This usually means that you don't have an existing relationship with the bank or you don't have a checking account with them.

Requirements can be demanding.
If the bonus offer is $500, it will likely have high deposit requirements. Make sure you can fulfill them.

Eligibility may be limited.
The bonus may not be for everyone. Often banks only extend these bonuses to new customers. If it's a credit union, they usually serve specific states or regions.

It may be for a premium account.
Banks usually offer $500 bonuses on their premium checking accounts to incentivize higher-balance clients. Make sure this type of account fits your needs.

Switching banks is often not necessary.
Typically, these checking account bonuses do not require transferring your entire banking to the new bank. You can keep your existing accounts in other banks as long as you can fulfill the requirements for the bonus.

How Can I Get a $500 Checking Bonus?

1. Review the terms and conditions of the $500 offer carefully. Make sure you are qualified to open.
   
2. Open the checking account either online or in person based on the offer instructions.
   
3. Fulfill requirements, i.e. putting in a minimum deposit, setting up direct deposit, and/or keeping the account open for a period.
   
4. Wait for the bank to credit your bonus, which may take several days or weeks.
   
5. Keep your account open for the specified duration to avoid forfeiting your bonus.

Things To Look For In a Checking Account

Aside from the cash bonus, it's important to consider if the checking account makes sense for your needs.

Here are some important factors to think about:

• Monthly fee & balance requirements
  Some accounts may require a minimum balance to avoid a monthly fee or qualify for perks. This will help you determine if the account aligns with your financial situation.

• Other fees
  Also, look at if there are other fees, like for ATM withdrawals, overdrafts, and other transactions.

• ATM network
  Consider the size and reach of the bank's ATM network to ensure convenient access to cash withdrawals and other services.

• Mobile app features
  A robust and user-friendly mobile app can make things easier. Make sure it has the functions you need, such as mobile check deposit, bill payment options, and other account management tools.

FAQs

How to get $500 from Chase?
If you have a Chase checking account, you can earn up to $500 every calendar year with 10 successful referrals. You will be credited $50 for each referral, provided you and your referral's account remain open at the time of payout.

Will you earn two bonuses if you open a joint checking account?
No, banks and credit unions generally provide one bonus per account, regardless of whether it's an individual or joint account.

Are $500 bank bonuses a good deal?
Yes, a $500 bank bonus can be worth it if you can comfortably meet the requirements and the bank account aligns with your needs. Don't go for a bank bonus if it will stretch your finances or if the account will be too much hassle to maintain.

Do you have to pay taxes on checking bonuses?
Yes, checking account bonuses are classified as supplemental wages and, therefore, are taxable. The bank may issue a Form 1099-INT, but even if they don't, you're required to report it on your tax return.