5 Online Banks That Will Pay You to Sign Up
In today’s competitive banking landscape, many online banks are offering enticing sign-up bonuses to attract new customers. These bonuses, often contingent on meeting specific deposit or transaction requirements, provide an easy way to earn extra cash by simply opening a new account. Here are five online banks offering attractive sign-up bonuses right now.
1. Chime Bank
- Sign-Up Bonus: $100 (with direct deposits of at least $200 within 45 days of account opening)
Chime is an online-only bank that stands out for its simple, fee-free approach to banking. New customers can earn a $100 bonus by receiving at least $200 in direct deposits within the first 45 days of opening an account. With no monthly fees, no minimum balance requirements, and free access to over 24,000 ATMs, Chime offers a straightforward banking experience alongside the bonus.
Key Features:
- No monthly fees
- Access to 24,000+ ATMs nationwide for free
- Early direct deposit (up to two days early)
- Automatic savings features
2. SoFi Money
- Sign-Up Bonus: Up to $250 (based on direct deposits)
SoFi Money is a digital cash management account that offers one of the largest sign-up bonuses in the industry. To earn up to $250, you must receive qualifying direct deposits of $5,000 or more within the first 30 days. This account comes with no fees and a high-interest savings feature, making it a great choice for those looking to earn a bonus while enjoying top-tier financial services.
Key Features:
- No account fees or minimum balance requirements
- 1.25% APY on savings
- Free ATM access worldwide (limit of $1,000 monthly withdrawals)
- Automatic savings tools
3. Discover Online Savings Account
- Sign-Up Bonus: $150 – $200 (based on deposit amounts)
Discover’s Online Savings Account offers an attractive sign-up bonus based on how much you deposit within 30 days of account opening. Deposit at least $15,000 to earn $200 or $25,000 for a $150 bonus. Additionally, this account offers a competitive 3.00% APY, and there are no monthly fees or minimum balance requirements.
Key Features:
- 3.00% APY (subject to change)
- No monthly fees or minimum balance requirements
- Access to 60,000+ ATMs for free
- Easy-to-use mobile app for account management
4. Axos Bank Rewards Checking
- Sign-Up Bonus: Up to $200 (based on qualifying direct deposits)
Axos Bank’s Rewards Checking account offers a solid bonus if you meet the direct deposit requirements. To earn up to $200, simply have at least $1,000 in qualifying direct deposits within the first 60 days of opening the account. In addition to the bonus, you’ll earn 1% cashback on eligible debit card purchases and enjoy free access to 24,000+ ATMs.
Key Features:
- $0 monthly maintenance fees
- 1% cashback on eligible debit card purchases
- Free access to 24,000+ ATMs
- Overdraft protection options
5. Citi® Accelerate Savings Account
- Sign-Up Bonus: $200 (after depositing $15,000 or more within 30 days)
Citi’s Accelerate Savings Account provides a straightforward way to earn a $200 bonus. To qualify, simply deposit $15,000 or more within the first 30 days of opening the account and maintain that balance for at least 60 days. In addition to the bonus, Citi offers a competitive APY of up to 4.05%, depending on your balance.
Key Features:
- Competitive APY (up to 4.05% APY)
- No monthly fees or minimum balance requirements
- Free mobile check deposit
- Access to thousands of ATMs nationwide
How to Maximize Your Sign-Up Bonus
To ensure you get the most out of these promotions, follow these tips:
- Meet Direct Deposit Requirements: Many bonuses require direct deposits, so make sure to meet the specified amount within the timeframe.
- Avoid Fees: Some accounts may have monthly maintenance fees that could eat into your bonus. Be sure to review all account fees before opening an account.
- Track Deadlines: Ensure you meet all requirements within the specified period to avoid missing out on the bonus.
Conclusion
Opening an online bank account can be more than just a way to manage your money—it can also earn you cash. With sign-up bonuses ranging from $100 to $250, these five online banks offer lucrative rewards for new customers. By meeting the required direct deposits and maintaining the necessary balances, you can enjoy both the benefits of a new account and the extra cash in your pocket. Be sure to read the fine print and take advantage of these generous offers before they expire.