Individuals often register for new credit cards to capitalize on introductory offers, earning $100 or more at no cost. However, it’s not necessary to establish a new credit account simply to earn additional cash – your nearby bank may offer opportunities to accumulate free funds.

Many people are unaware that opening a new bank account can yield substantial free money through bonuses, similar to credit cards. Numerous banks provide sign-up incentives if you establish a new checking or savings account and fulfill specific criteria. By completing these simple criteria, you might gain an extra $400 to use.

Discover how to maximize bank sign-up bonuses with the top offers currently available.

Chase Bank: Up to $350 for Free

Chase presents a variety of new client incentives, ranging from $50 to $350, based on the account type established. Additionally, you might be eligible for a significantly larger introductory offer upon receiving a direct mailing from the bank.

Open a simple checking or savings account to receive a $50 bonus. Opt for the Chase Total Business Checking account and receive a $200 reward. This bonus is the simplest to acquire – you don't require a business, although a minimum deposit of $1,000 is necessary. The Chase Premier Plus Checking Account provides a $300 bonus for a minimal initial deposit of $25, however, enrollment in direct deposit is required to obtain this free money. The largest bonus offered, $350, can be accessed by opening both a Chase Total Checking and Savings account. To be eligible, you must deposit at least $25 in the checking account and $10,000 in the savings account, with the savings deposit needing to remain for a minimum of 90 days.

Regardless of the bonus you're targeting, it's essential to maintain the new account for a period of 6 months, or else your bonus will be revoked.

TD Bank: $150 or $300 in Bonuses

If you are a new customer without a previous personal checking account at TD Bank, you are eligible for a $300 bonus when signing up. By opening a Premier Checking account with TD Bank—even online if a local branch is not available—and ensuring a minimum of $2,500 in direct deposits within a 60-day period, you can secure this bonus.

Not interested in a Premier account? TD Bank provides a lesser incentive for individuals who prefer not to establish direct deposit. Receive a $150 reward by opting for the Convenience Checking account and initiating a minimum deposit of $25.

Upon fulfilling the requirements for your new account, receiving the bonus may require as long as 95 days. Ensure that you do not terminate your account prior to the arrival of the bonus!

SunTrust Bank: Up to $500 for Free

SunTrust Bank isn't available in each city or state across the U.S., yet it provides one of the most generous introductory bonuses out there. Simply register for a SunTrust checking account to qualify.

Should you establish a Signature Advantage account and accumulate direct deposits totaling $2,000 or higher in the initial sixty days, you will be eligible for a $500 reward. Similarly, by opening a Select Checking account, which offers fewer limitations and a reduced minimum balance requirement (accepting $1,000 or more in direct deposits over two months), you will be eligible for a $250 bonus.

To be eligible, you need to be a first-time account owner and apply the discount code Q118CHECKINGOL. In contrast to competing banks, SunTrust Bank recognizes payments via Discover, ACH, Paypal, and ING as direct deposits for this bonus, eliminating the necessity for a standard paycheck. The sole limitation of this outstanding offer is the requirement to reside in an eligible state, primarily located in the southern region. Potential customers from western or eastern regions do not meet the eligibility criteria.

Fifth Third Bank: a $200 Bonus

Fifth Third offers one of the simplest sign-up rewards because it eliminates the need for a direct deposit. Often, this usual prerequisite is difficult to fulfill, particularly for those opening an account solely for the incentive. Rather, you only have to reach a certain opening deposit or maintain a minimum balance in a new account.

Start an Essential Checking account at your nearby Fifth Third Bank location and make an initial deposit of at least $500 to earn a $200 bonus. You get 45 days to meet the $500 requirement, after which you must sustain at least that balance for 60 days to qualify for the bonus. Ensure you keep your account open with the minimum $500 balance for two months before closing it – receiving the bonus might take additional weeks.

PNC Bank: $50 to $300 in Bonus Cash

PNC Bank provides a sign-up incentive of $50, $200, or $300 for opening a specific new account. By establishing a virtual wallet either online or directly at a nearby branch, you are eligible to receive one of these bonuses. To be eligible, you need to complete a minimum of 10 transactions using your debit card and have at least one direct deposit made into your new virtual wallet within a 60-day period.

To qualify for the $50 reward, your account must show a minimum direct deposit of $500. For the $200 reward, you need to have a Performance Spend virtual wallet, which belongs to a more premium category and requires at least $2,000 in direct deposits. The $300 sign-up reward necessitates ownership of a Performance Select virtual wallet along with a minimum of $5,000 in direct deposits, presenting a challenging target to reach.

It should be acknowledged that fulfilling the direct deposit condition at PNC Bank can be achieved using conventional job-related direct deposits, deposits from pensions, deposits from American Express Serve, Paypal transfers, and Ally ACH transactions. This simplifies the process of reaching the required amount. However, remember that to be eligible for the bonus, it is necessary to utilize your digital wallet and engage in some spending.

HSBC: Up to $750 in Bonuses

HSBC presents three distinct sign-up incentives: $200, $350, or $750. To secure the $200 reward, open a Choice Checking account and make a minimum deposit of $1,500. For the $350 reward, you need to establish an HSBC Advance checking account with at least a $10,000 deposit. To obtain the $750 bonus, an HSBC Premier checking account must be opened with a deposit requirement of $100,000.

For every bonus, a minimum amount has to be deposited and kept in the account for a minimum of 90 days, beginning no later than 30 days from account opening. It's not necessary to deposit the entire sum into the checking account; part of it can also be allocated to a connected savings account. After fulfilling the criteria, your bonus will be credited within a span of eight weeks. Although two of these introductory offers necessitate substantial deposits, direct deposit is not a requirement – a benefit for individuals whose employers do not offer direct deposit.

Apart from monthly account charges, the primary caveat is a $25 early account closure fee applied if you terminate your account within 180 days.

Before opening a new account to take advantage of any bonuses, it's crucial to fully comprehend the associated fees, penalties, and obligations. Premature closure of the account or not meeting the requisite deposit conditions could lead to losses instead of profits. By thoroughly researching in advance, you can simplify the process of earning an additional small or substantial amount of money.