The Best Checking Account Bonuses

Banks will pay a bonus to sign up for a new checking account. Sometimes it’s several hundred dollars. Once a few requirements are met the bank adds the money to the new account and it can be used for literally anything. I’m using them to earn beer money. I mentioned the term churning in a previous post and while this is very much a colloquial, informal term that generally refers to gaming credit card sign up bonuses, I also think it encompasses bank sign up bonuses. I highly recommend reading the fine print and keeping a spreadsheet to stay organized.

Here are the top 5 current checking account sign up bonuses.

1. Capital One – $350 dollar bonus
   
   Requirements:
   – Use promo code BONUS350
   – 2 direct deposits of $250 dollars within 2 and a half months
   
   Expires:
   October 18, 2023
   
   
2. Wells Fargo – $325 dollar bonus
   
   Requirements:
   – Direct deposits of $1000 within 3 months
   – Direct deposit of a least $500 dollars or minimum account balance of
   $500 dollars a month to avoid $10 dollar fee
   
   Expires:
   August 21, 2023
   
   
3. First Tech Federal Credit Union – $350 dollar bonus
   
   Requirements:
   – Use promo code NEW2023
   – $8 dollar membership to the Financial Fitness Association
   – 3 direct deposits within 4 months
   
   Expires:
   December 31, 2023
   
   
4. Fidelity Cash Management or Investing Account – $100 bonus
   
   Requirements:
   – Deposit $50 dollars within 15 days
   – Leave bonus in account for 3 months
   
   
5. Fidelity Bloom App – $100 dollar bonus
   
   Requirements:
   – Deposit $50 dollars within 7 days
   

Those are the top 5 checking or bank account bonuses right now. Clearly some expire sooner than others, but as I mentioned on my post about churning, Doctor of Credit does a fantastic job aggregating this information.

And lastly a quick update: Last month was, without a doubt, my best month ever. I am so glad I gave myself the space to try out a few new approaches, including churning. I also did a few tasks for DataAnnotation, but I’m still figuring out their system. To their credit it is very well documented, but as with everything I’m finding an approach that works for me. It does make me want to revisit UserTesting. I also plan to sign up for more brokerage accounts either to churn or to use for reverse stock split arbitrage. I plan to get started with matched betting soon as well.

Today I picked up another share of DIVO and opened a position in SPHD. I’m up to $17.50 a month in passive dividend income. Onward and upward.