Bank Bonus Offers

[njhowie]

As some folks know, I am always on the lookout for bank bonus offers. At a time when savings accounts yield less than 2%, bank bonus offers can yield upwards of 10%, 15%, or more on an APY basis. Generally, there's little more required than opening the account, funding it with some level of deposits, leaving the money in the account for some period of time, and then collecting your free money. As someone taking advantage of these offers, diligence in meeting and sticking to the requirements of the offer is key. Some will require direct deposits, others may require a certain number of debit card transactions per month. Be sure to understand the terms and any fine print. Sometimes the account needs to additionally remain open past the bonus payment with some minimum funding level, or they take back the bonus or may charge fees.

Over the past couple years, I have taken advantage of at least 10 of these offers. I believe it is the easiest way to make a completely 100% safe risk free return on your money, generally for spending maybe 15 or 20 minutes of effort, and maybe periodically moving some online money around. These are all respectable, FDIC insured banking institutions.

Also, keep a watch for any offers similar to these which may be available at your local bank branches, where you may need to go in, sit down with a representative, and open the account. I've done this at the following local banks: Chase, Investors Bank, M&T Bank for $300, $250, and $250 respectively. With Chase, we've also done it online multiple times.

Many folks around here took advantage of the Ally 1% bonus offer earlier this year. Currently the Marcus 1% bonus offer is just about to complete.

My favorite sites for uncovering these offers are at:
https://www.hustlermoneyblog.com/best-bank-promotions/

https://www.doctorofcredit.com/deal-calendar-full-list-deals-credit-card-bank-bonuses-expiry-dates/

There are a few others out there, but most will copy theirs from these two sites.

The same way folks routinely scan depositaccounts.com for the best CD and savings rates out there, I highly recommend doing the same for these bank bonus offers.

A few of my favorite bonus offers, which are still available and very easy to complete are:

Simple.com
https://simple.com/offer
Open account by 10/31, fund it to $10,000/$20,000 by 11/15, maintain balance until 1/31/2020, collect $250/$500
Some folks have indicated they are having difficulty opening the account. I've opened two accounts for folks in my household, took about 5 minutes each with two very easy screens to complete. It's possible that folks are running in to difficulties if their credit reports are locked - I really have no idea, but it is a thought. I never do these under my name, because my reports are locked everywhere and I have been rejected enough to know better.

Discover Savings Account
https://www.discover.com/online-banking/savings-lng-04/?TPR=069
Open account by 11/4, fund it to $15,000/$25,000 by 11/18, collect $150/$200 by 12/2. This one is the best - your money is there for a maximum of two weeks and you collect 1%. In reality, Discover credits the bonus even quicker and once that happens, you are free to transfer all the money out and close the account - no penalties or fee for early account closure.

Capital One
https://www.capitalone.com/save1000/
Open account by 12/31, deposit $10,000 within 10 days of opening account, maintain balance for 90 days, collect $200. If you have $150,000 you can do it for $1000, but getting $200 for $10,000 is obviously the better bang for the buck.

So, take advantage of these offers for free money! As interest rates continue to head lower, meaning less return on CDs and savings, allocating a small amount of that money to taking advantage of these offers can give a nice boost to your safe money returns.

If you find new bonus offers that are available online, post them here and share with your friends!​

 

[Sunset]

Great idea for a thread.

 

[MrsHaloFIRE]

Rec'd a mailer this summer from Wells. If I did a phone call with a banker to discuss portfolio premier they would give me $200. Conversation went like this: "Thanks for calling WellsFargo. POrtfolio PRemier is a thing that exists. Where would you like me to deposit your $200?" Easiest money I ever made

 

[audreyh1]

Thanks for creating a thread that will offload the topic from the CD & MM Rates thread.

 

[SoReady]

This is good information. We have done a few of these as well, not 10 though! One thing to consider/remember, especially if managing income against ACA limits, is that the bonuses get reported as income to the IRS. I believe a 1099-MISC is generated.

 

[jazz4cash]

Just got email from Chase. I think the offer has been out there for awhile:
New Chase checking account gets $200 bonus with direct deposit.

New Chase savings account w/ $10k on deposit for 90 days earns $150.

The offers can be combined for total of $350.

The direct deposit requirement looks pretty strict but I noticed recently that a 401k distribution from Fido to BoA was coded as “pension” so I’d give that a shot.

 

[njhowie]

Just got email from Chase. I think the offer has been out there for awhile:
New Chase checking account gets $200 bonus with direct deposit.

New Chase savings account w/ $10k on deposit for 90 days earns $150.

The offers can be combined for total of $350.

The direct deposit requirement looks pretty strict but I noticed recently that a 401k distribution from Fido to BoA was coded as “pension” so I’d give that a shot.

https://accounts.chase.com/consumer/banking/online?px=QZ74297

 

[retired1]

Signed up for Chase $600 Cash Back

$300 for Checking w/ Direct Deposit (min. $500)
$200 for Savings if $15K kept for 90 days
$100 if both above are satisfied.

I get Chase free money every 2 years

 

[Golden sunsets]

I've noticed that this seems to be a year end phenomenon. The theory is, certain institutions have deduced that a pumped up year end balance sheet(known as the "call report" to those in the industry), is some sort of advantage.

I took advantage of 2 of these offers last fall, ironically with the same maturing CD dollars moved twice in a very short period.

I've just set up 2 of the Simple offers, for a bonus of $1,000 based on deposits of $40,000. That's the best deal I've seen, especially since it comes with a 2.15% savings rate. Thanks NJhowie. Easiest accounts I've ever opened and did not have to unfreeze our credit.

We would be happy to do another such deal, but the Discover, Chase, Cap One and Wells Fargo deals seem like too much work for too little reward.

Also thanks to NJhowie for starting this thread. I check the CD/MM thread daily and have found actionable info more than a few times for our CD ladder. This will become another go to thread.

If it hasn't been already, can we sticky this thread?

 

[Golden sunsets]

Signed up for Chase $600 Cash Back

$300 for Checking w/ Direct Deposit (min. $500)
$200 for Savings if $15K kept for 90 days
$100 if both above are satisfied.

I get Chase free money every 2 years

Retired1;. I'm of the impression that for the Chase bonus, one needs to open a checking account and have $75,000 on deposit for a period of time, with mandatory transactions. Am I correct?

 

[bolt]

I'm under the impression Chase has a 1k promo now till X(months end?) for a 75K deposit w/terms.
https://accounts.chase.com/consumer/banking/online/sapphirechampion

Reading the fine print seems prudent.

 

[njhowie]

Citibank Checking/Savings Account Offers (must be new Citibank customer to be eligible)
https://banking.citi.com/cbol/checking-tiered-offer/Default.htm

• Open new account by 12/31
• Deposit $5000/$15,000/$50,000 within 30 days of opening account
• Maintain minimum balance for 60 days
• Bonus of $200/$400/$700 credited within 90 days after the 60 days (need to maintain $1500/$10,000/$50,000 minimum balance to avoid monthly fees or age 62+ in the $200 bonus offer account)

 

[njhowie]

I've noticed that this seems to be a year end phenomenon. The theory is, certain institutions have deduced that a pumped up year end balance sheet(known as the "call report" to those in the industry), is some sort of advantage.

I took advantage of 2 of these offers last fall, ironically with the same maturing CD dollars moved twice in a very short period.

I've just set up 2 of the Simple offers, for a bonus of $1,000 based on deposits of $40,000. That's the best deal I've seen, especially since it comes with a 2.15% savings rate. Thanks NJhowie. Easiest accounts I've ever opened and did not have to unfreeze our credit.

We would be happy to do another such deal, but the Discover, Chase, Cap One and Wells Fargo deals seem like too much work for too little reward.

Also thanks to NJhowie for starting this thread. I check the CD/MM thread daily and have found actionable info more than a few times for our CD ladder. This will become another go to thread.

If it hasn't been already, can we sticky this thread?

Glad the Simple worked for you.

The Discover and Capital One are no work at all - same as the Ally/Marcus deals - just open the account and move the money in, nothing else to do. Though the maximum amount you can collect is lower. But again, the Discover deal will give you the bonus in 2 weeks tops and then you can transfer the money out and close - no fees or penalties ... they are giving this money away.

 

[Golden sunsets]

I'm under the impression Chase has a 1k promo now till X(months end?) for a 75K deposit w/terms.
https://accounts.chase.com/consumer/banking/online/sapphirechampion

Reading the fine print seems prudent.

Your link states a $750 bonus, not $1,000.


Sent from my iPad using Early Retirement Forum

 

[Dtail]

Your link states a $750 bonus, not $1,000.


Sent from my iPad using Early Retirement Forum

The attached below is the updated 1k version.

https://accounts.chase.com/consumer/banking/online/sapphirebanking

 

[Montecfo]

As some folks know, I am always on the lookout for bank bonus offers. At a time when savings accounts yield less than 2%, bank bonus offers can yield upwards of 10%, 15%, or more on an APY basis. Generally, there's little more required than opening the account, funding it with some level of deposits, leaving the money in the account for some period of time, and then collecting your free money. As someone taking advantage of these offers, diligence in meeting and sticking to the requirements of the offer is key. Some will require direct deposits, others may require a certain number of debit card transactions per month. Be sure to understand the terms and any fine print. Sometimes the account needs to additionally remain open past the bonus payment with some minimum funding level, or they take back the bonus or may charge fees.

Over the past couple years, I have taken advantage of at least 10 of these offers. I believe it is the easiest way to make a completely 100% safe risk free return on your money, generally for spending maybe 15 or 20 minutes of effort, and maybe periodically moving some online money around. These are all respectable, FDIC insured banking institutions.

Also, keep a watch for any offers similar to these which may be available at your local bank branches, where you may need to go in, sit down with a representative, and open the account. I've done this at the following local banks: Chase, Investors Bank, M&T Bank for $300, $250, and $250 respectively. With Chase, we've also done it online multiple times.

Many folks around here took advantage of the Ally 1% bonus offer earlier this year. Currently the Marcus 1% bonus offer is just about to complete.

My favorite sites for uncovering these offers are at:
https://www.hustlermoneyblog.com/best-bank-promotions/

https://www.doctorofcredit.com/deal-calendar-full-list-deals-credit-card-bank-bonuses-expiry-dates/

There are a few others out there, but most will copy theirs from these two sites.

The same way folks routinely scan depositaccounts.com for the best CD and savings rates out there, I highly recommend doing the same for these bank bonus offers.

A few of my favorite bonus offers, which are still available and very easy to complete are:

Simple.com
https://simple.com/offer
Open account by 10/31, fund it to $10,000/$20,000 by 11/15, maintain balance until 1/31/2020, collect $250/$500
Some folks have indicated they are having difficulty opening the account. I've opened two accounts for folks in my household, took about 5 minutes each with two very easy screens to complete. It's possible that folks are running in to difficulties if their credit reports are locked - I really have no idea, but it is a thought. I never do these under my name, because my reports are locked everywhere and I have been rejected enough to know better.

Discover Savings Account
https://www.discover.com/online-banking/savings-lng-04/?TPR=069
Open account by 11/4, fund it to $15,000/$25,000 by 11/18, collect $150/$200 by 12/2. This one is the best - your money is there for a maximum of two weeks and you collect 1%. In reality, Discover credits the bonus even quicker and once that happens, you are free to transfer all the money out and close the account - no penalties or fee for early account closure.

Capital One
https://www.capitalone.com/save1000/
Open account by 12/31, deposit $10,000 within 10 days of opening account, maintain balance for 90 days, collect $200. If you have $150,000 you can do it for $1000, but getting $200 for $10,000 is obviously the better bang for the buck.

So, take advantage of these offers for free money! As interest rates continue to head lower, meaning less return on CDs and savings, allocating a small amount of that money to taking advantage of these offers can give a nice boost to your safe money returns.

If you find new bonus offers that are available online, post them here and share with your friends!​

Excellent sources. There is also a tab for bank bonus offers on depositaccounts.com.

 

[jim584672]

simple.com, they asked me three times to upload documents, each time several days went by before the new request. After two times I gave up. No bank has this many problems, so I have abandoned this bank.

 

[njhowie]

simple.com, they asked me three times to upload documents, each time several days went by before the new request. After two times I gave up. No bank has this many problems, so I have abandoned this bank.

I can appreciate it...I went through exactly the same with Digital Credit Union (DCU). Wanted upload of my drivers license. First time I took a snap shot with my phone. They said it wasn't clear enough. Understood. Couldn't re-upload - website only allowed one upload per document type and would not allow replacing. Came back a few months later, figured I'd try again, wanted upload of drivers license again. This time, I used the high quality flatbed scanner and increased size. They said it still wasn't clear. They obviously didn't want me as a member.

You may be interested in DCU as an alternative for a single high yield CD (which you can do multiple times for others in your family) - will get you 6.17% on first $1000 savings ... if they open the account for you

https://www.dcu.org/bank/savings/primary-savings.html

 

[PatrickA5]

Since I play the credit card points/miles game, I've considered doing some of these new accounts bonuses. I get offers from Chase weekly in the mail. But, when I figure out all of the hoops and net out the interest lost from moving money out of my MMF, it rarely seems worth the trouble. Still, I might look into some of these more closely. Thanks for starting this thread.

 

[njhowie]

Since I play the credit card points/miles game, I've considered doing some of these new accounts bonuses. I get offers from Chase weekly in the mail. But, when I figure out all of the hoops and net out the interest lost from moving money out of my MMF, it rarely seems worth the trouble. Still, I might look into some of these more closely. Thanks for starting this thread.

The doctorofcredit site also includes points/miles offers. I don't do those, so can't comment on how good they are.

https://www.doctorofcredit.com/deal-calendar-full-list-deals-credit-card-bank-bonuses-expiry-dates/

 

[MJ]

This is a great thread addition.
I just squeezed in my simple application. I was shocked how easy and fast it was. Outside of the personal info and SS#, I was not asked to upload any identity docs. It seems way to "simple". The app creates your online account with access to your account# within 5 minutes. I was hoping to get an account opened for the Mrs. too but her app was rejected. While they didn't give a reason, I suspect it was because she is a US perm resident.

 

[Chuckanut]

Thanks to njhowie!!!!!!!! I owe you a beer.

I am on way to collecting a nice reward from Discover Bank.

 

[bolt]

The attached below is the updated 1k version.

https://accounts.chase.com/consumer/banking/online/sapphirebanking

Thx for the exact offers link. I went into a chase location* w/my 43yr Chase CC history, a DL-/ ID yesterday, and the "salesman" told me I also needed an invite # for the sapphire offer. He tried to sell me on all the other offers others listed above.
I said wtf?

He promptly consulted his chase business computer and said keep my eyes open for mail-outs.

Edited to add: Thx njhowie!
That salesman did seem to be the new guy!

 

[Dtail]

Thx for the exact offers link. I went into a chase location* w/my 43yr Chase CC history, a DL-/ ID yesterday, and the "salesman" told me I also needed an invite # for the sapphire offer.
I said wtf?

He promptly consulted his chase business computer and said keep my eyes open for mail-outs.

I don't remember that requirement being part of the offer. I am passing on this one anyways, but would have had an interesting conversation with my local Chase rep.

 

[njhowie]

Thx for the exact offers link. I went into a chase location* w/my 43yr Chase CC history, a DL-/ ID yesterday, and the "salesman" told me I also needed an invite # for the sapphire offer. He tried to sell me on all the other offers others listed above.
I said wtf?

He promptly consulted his chase business computer and said keep my eyes open for mail-outs.

Go back to the page link, scroll down a little, then under the -OR- click the OPEN NOW button - notice below it it says "Your coupon code will automatically be applied".

When you do that, it opens a new window with the following:

Open your Chase Sapphire Checking account.
We applied your coupon.

It should only take a few minutes.