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Best checking account bonuses of July 2022
We’ve gone through the best promotions among national and regional banks and below are our top picks for July 2022.
Citi Priority: Up to $1,500 bonusTD Bank Beyond Checking Account (Member FDIC): $300 bonusSoFi Checking and Savings (Member FDIC): Up to $300 bonusChase Total Checking®(Member FDIC): $200 bonus Huntington 5 Checking (Member FDIC): $200 bonusTD Bank Convenience Checking Account (Member FDIC): $200 bonusWells Fargo Everyday Checking Account (Member FDIC): $200 bonusHuntington Asterisk-Free Checking (Member FDIC): $150 bonusCIT Bank Savings Connect Account(Member FDIC): A one-year Amazon Prime subscription worth $139Axos Bank Rewards Checking (Member FDIC): $100 bonusBank of America Advantage Banking Account(Member FDIC): $100 bonusChase Secure Banking℠(Member FDIC): $100 bonus
Citi Priority
Bonus amount: $300, $700, or $1,500
Expiration date: July 17, 2022
Who qualifies: You qualify as long as you haven’t had a Citi checking account in the last 6 months and you’re 18 years old.
What you need to do:
Open a new checking account in the Citi Priority Account Package by July 17, 2022To earn $300, you’ll need to have a minimum deposit and minimum balance of $15,000 to $49,999 within 20 days of your account opening.To earn $700, you’ll need to have a minimum deposit and minimum balance of $50,000 to $199,999 within 20 days of your account opening.To earn $1,500, you’ll need to have a minimum deposit and minimum balance of $200,000 within 20 days of your account opening.Maintain your balance 60 days after the 21st day of your account opening
When you’ll receive the money: You’ll get the cash within 90 days of finishing the requirements.
TD Bank Beyond Checking Account
Bonus amount: $300 bonus
Expiration date: October 31, 2022
Who qualifies: You must be a new TD Bank customer to qualify.
What you need to do:
Open a new TD Bank Beyond Checking Account Receive at least $2,500 in qualifying direct deposits within 60 days of opening the accountKeep your account open for at least 6 months
When you’ll receive the money: The money will be deposited into your account around 180 days after opening the account.
SoFi Checking and Savings
Bonus amount: $50, $100 or $300 bonus
Expiration date: July 31, 2022
Who qualifies: You must be a new SoFi Checking and Savings customer, or an existing SoFi Checking and Savings customer who hasn’t set up direct deposit.
What you need to do:
Open SoFi Checking and Savings To earn a $50 cash bonus, you must receive between $1,000 and $1,999 in qualifying direct deposits during the first 30 days of opening an accountTo earn a $100 cash bonus, you must receive between $2,000 and $4,999 in qualifying direct deposits during the first 30 days of opening an account. To earn a $300 cash bonus, you must receive over $5,000 in qualifying direct deposits during the first 30 days of opening an account
When you’ll receive the money: The money will be deposited into your account around 14 days after the first month of opening the account.
Chase Total Checking®
Bonus amount: $200
Expiration date: October 19, 2022
Who qualifies: New personal checking account customers.
What you need to do:
Open a new Chase Total Checking® account with a coupon codeSet up direct deposit within 90 days after enrolling
When you’ll receive the money: You’ll receive the $250 within 15 days.
Huntington 5 Checking
Bonus amount: $200
Expiration date: October 7, 2022
Who qualifies: You must be a new Huntington checking customer who hasn’t closed a Huntington checking account in the last 60 days.
What you need to do:
Open a Huntington 5 Checking® Account by October 7, 2022, at a Huntington branchDeposit $1,000 within 60 days of opening the accountKeep the account open for 90 days
When you’ll receive the money: You’ll get $200 within 14 days of your 90-day qualification period ending.
TD Bank Convenience Checking Account
Bonus amount: $200 bonus
Expiration date: October 31, 2022
Who qualifies: You must be a new TD Bank customer to qualify.
What you need to do:
Open a new TD Bank Convenience Checking Account Receive at least $500 in qualifying direct deposits within 60 days of opening the accountKeep your account open for at least 6 months
When you’ll receive the money: The money will be deposited into your account around 180 days after opening the account.
Wells Fargo Everyday Checking Account
Bonus amount: $200 bonus
Expiration date: September 30, 2022
Who qualifies: It is easy to qualify for and available in 37 US states. To qualify, you must be a new Wells Fargo personal checking account customer and use a bonus code to open an account.
What you need to do:
Open a new Wells Fargo Everyday Checking Account with a bonus code online or at a branchReceive at least $1,000 in direct deposits 90 days within opening the account
When you’ll receive the money: The money will be deposited into your account around 30 days after finishing the requirements.
Huntington Asterisk-Free Checking
Bonus amount: $150
Expiration date: October 7, 2022
Who qualifies: You must be a new Huntington checking customer who hasn’t closed a Huntington checking account in the last 60 days.
What you need to do:
Open a Huntington Asterisk-Free Checking® Account by October 7, 2022, at a Huntington branchDeposit $1,000 within 60 days of opening the accountKeep the account open for 90 days
When you’ll receive the money: You’ll get $150 within 14 days of your 90-day qualification period ending.
CIT Bank Money Market Account
Bonus amount: A one-year Amazon Prime subscription worth $139
Expiration date: Amazons Prime code expires on March, 23, 2024
Who qualifies: Anyone who opens the CIT Bank Money Market Account after March 23, 2022 is eligible.
What you need to do:
Use the promo code “AMZN22″Deposit at least $15,000 in the first 15 days of opening your accountMaintain a daily balance of at least $15,000 for 60 days
When you’ll receive the money: You’ll get an email with your Amazon Prime subscription code around 60 days after finishing the requirements. You’ll have until March 23, 2024 to sign up for Amazon Prime.
Axos Bank Rewards Checking
Bonus amount: $100 bonus
Expiration date: September 30, 2022
Who qualifies: Anyone who opens Axos Bank Rewards Checking between July 5, 2022 and September 30, 2022
What you need to do:
Use the promo code “SUMMER”Have qualifying direct deposit(s) of $1,500 or more within a single month during the first 3 months of opening your account
When you’ll receive the money: The cash bonus will be deposited into your account within 30 days following the first 3 months of opening an account.
Bank of America Advantage Banking Account
Bonus amount: $100 bonus
Expiration date: December 31, 2022
Who qualifies: It is easy to qualify for and available in 37 US states. To qualify, you be a new Bank of America personal checking account customer.
What you need to do:
Open a Bank of America Advantage SafeBalance, Plus, or Relationship Banking Checking Account through the bank’s promotional page by December 31, 2022Receive at least $1,000 in direct deposits within 90 days of opening the account
When you’ll receive the money: The money will be deposited into your account around 60 days after finishing the requirements.
Chase Secure Banking℠
Bonus amount: $100
Expiration date: October 19, 2022
Who qualifies: You must be a new checking account customer.
What you need to do:
Open a Chase Secure Banking℠ using a couponMake 10 transactions during the first 60 days
When you’ll receive the money: You’ll get the money deposited into your account 15 days after you’ve completed 10 transactions.
Frequently asked questions
Is opening a bank account for the bonus worth it?
In short — it depends.
Depending on your balance, a cash bonus could end up earning you more money than a high APY would. However, make sure you won’t pay fees that will cancel out the amount you earn as a bonus. For example, if you earn a sign-up bonus but have to pay a monthly fee and are regularly penalized for overdrawing, opening a bank account for the bonus may not be worth it.
Why do banks have sign-up bonuses?
Banks offer bonuses to draw in new customers and to set themselves apart from competing banks that may offer similar interest rates, monthly fees, or opening deposit requirements.
Can I receive more than one bank account bonus?
You typically can’t receive more than one bank account bonus with the same bank within a certain amount of time — usually between a few months and a couple years. But if you have the funds, you may be able to receive one bank account bonus from multiple banks.
Do I have to pay taxes on bank account bonuses?
Yes, you do have to pay taxes on your bonus. When you file taxes for the year, you’ll report the sign-up bonus as income and pay income tax accordingly.