15 Best Bank Promotions, Bonuses and Offers of June 2022

Bank bonuses and promotions aren't the only reason to choose a bank. But free money to fund your new checking or savings account is a nice perk.

Reviewed by Molly Moorhead, CFP®
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So, you’re looking for a new bank account.

You’ve got several factors to consider — ATM access, interest rates, monthly account fees, minimum balances, online bill payments and more.

Another factor: sign-up promotions and bonuses. Banks and credit unions frequently run promotions to entice prospective customers to open a new account — and they often come with cash. You have to meet specific criteria, such as making a minimum opening deposit, and generally the account must remain open for a certain amount of time — at least long enough to earn the cash bonus.

Many banks offer such sign-up bonuses, but often, they aren’t advertised. We did some digging to find the best bank promotions currently on offer.

Best Checking and Savings Account Offers of June 2022

Keep an eye on what each promotion requires, as well as any limitations. Recurring direct deposits and maintaining a minimum balance are common requirements in securing bank bonuses. Also pay attention to any monthly fees the account might carry; over time, these could weigh out the actual cash bonus.

15 Bank Promotions That Give you Cash

Bank Top Feature Promotion
Aspiration Account No fees $150
Aspiration Plus Cash back on purchases $200
Chase Total Checking Account Fees may be waived $200
Fifth Third Momentum Checking No hidden fees $300
Discover Online Savings Account No min. opening balance $150 or $200
Chime Referral Bonus No monthly fees $100
Bank of America Advantage Banking Fees can be waived $100
Alliant Credit Union Ultimate Opportunity Savings High yields $100
Huntington Asterisk-Free Checking Quick cash bonus payout $150
Huntington 5 Checking Account Interest on checking $200
Albert Up to 20% cash back $150
M&T Bank EZChoice Checking Account No monthly fees $150
M&T Bank MyChoice Plus Checking Account Discounted loan rates $250
M&T Bank MyChoice Premium Checking Accoun Premium CD rates $250
HSBC Premier Checking Account No foreign exchange fees $500

Aspiration Account

Best for Financial Beginners

5 out of 5 Overall

Key Features
  • No monthly service fee
  • Save and Spend Account
  • 3%-5% cash back on socially conscious
Once you open a new account, Aspiration will send you a debit card. Use it to make at least $1,000 of cumulative transactions within 60 days of account opening. The FDIC-insured account offers up to 3.00% APY on savings accounts and allows fee-free withdrawals at more than 55,000 ATMs. You’ll earn up to 5% cash back when you make debit purchases at socially conscious businesses.
Aspiration Account

Bonus amount
$150
How to get it
Open a new account and make a minimum opening deposit of at least $10.
When you get it
Within 120 calendar days of opening.
More information
Monthly fees are on a “Pay What is Fair” policy.
Expiration
None

More Information About Aspiration Account

The Aspiration Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 5% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup. You can access your paycheck up to two days early and earn up to 3.00% APY on your savings.

Aspiration Plus Account

Best for Socially Conscious Clients

4.5 out of 5 Overall

Key Features
  • $5.99 monthly fee
  • Save and Spend Account
  • 10% back/socially conscious purchases
Once you open a new account, Aspiration will send you a debit card. Use it to make at least $1,000 of cumulative transactions within 60 days of account opening. The FDIC-insured account offers up to 1.00% APY on savings accounts and allows fee-free withdrawals at more than 55,000 ATMs. You’ll earn up to 10% cash back when you make debit purchases at socially conscious businesses.
Aspiration Plus Account

Bonus amount
$200
How to get it
Open a new account and make a minimum opening deposit of at least $10.
When you get it
Within 120 calendar days of opening.
More information
$5.99 monthly fee
Expiration
None

More Information About Aspiration Plus Account

The Aspiration Plus Account boasts unlimited fee-free ATM withdrawals at all in-network (Allpoint) ATMs, plus up to 10% cash back on Conscience Coalition debit card purchases. You can even opt to plant a tree with every purchase roundup and get carbon offsets for your gas purchases with Planet Protection. You can access your paycheck up to two days early and earn up to 5.00% APY on your savings.

Chase Total Checking

Best for Basic Checking

5 out of 5 Overall

Key Features
  • $12 monthly fee
  • Fee waived by meeting conditions
  • Basic checking
The Total Checking $12 monthly fee can be waived if you receive monthly direct deposits totaling $500 or more, keep a daily minimum balance of at least $1,500 in your new checking account, or keep a daily minimum balance across all your Chase accounts of at least $5,000. Deposits via person-to-person payments do not qualify. Access to 16,000 ATMs and more than 4,700 branches.
Chase Total Checking Account

Bonus amount
$200
How to get it
Receive a qualifying direct deposit within 90 days of account opening.
When you get it
Within 15 days of meeting requirements
More information
$12 monthly fee, which can be waived.
Expiration
July 20, 2022

More Information About Chase Total Checking Account

The Chase Total Checking account gets you access to more than 4,700 branches nationwide, plus 16,000 ATMs. The easy-to-use mobile app is highly rated. While Chase does charge a $12 monthly service fee, you can waive it by earning $500+ in monthly direct deposits, maintaining a daily balance of $1,500+ or having $5,000 across all your Chase accounts at the start of each day.

Albert Accounts

Best for Cash Back

4.5 out of 5 Overall

Key Features
  • Up to 20% cash back
  • Geniuses for personal finance questions
  • No fees or investment commissions
Albert is an all-purpose personal finance app that lets you spend, save and invest your money. There are no monthly maintenance fees, no minimum balances and no commissions (if you choose to invest). While you won’t earn a traditional APY, Albert gives users a 0.10% annual cash bonus on funds in savings, plus up to 20% cash back. New members are eligible for a $150 bonus.
Albert Accounts

Bonus
$150
How you get it
Receive a qualifying direct deposit of at least $200 and spend at least $100 every 30 days for 90 days
When you get it
Upon meeting requirements over a 90-day period
More information
Must be new to Albert
Expiration
None

More Information About Albert Accounts

Members of Albert don’t have to worry about monthly fees or minimum balances, and they can take advantage of several cool features, like 55,000 fee-free ATMs, early paycheck access, cashback rewards, Smart Savings (automatically analyzes your money and helps you to save), unlimited transfers, annual cash bonuses, the ability to invest, and a cash advance up to $250 (no interest, no credit check) instead of overdraft fees. Perhaps the coolest part is daily access to finance experts called Geniuses; pay what you think is fair for their advice. Just keep in mind that Albert is not a bank but an app (banking services are provided by Sutton Bank, Member FDIC).

Chime Referral Bonus

Best for Referral Bonus

4.5 out of 5 Overall

Key Features
  • Must be current Chime account holder
  • No minimum daily balance
  • Good for first-time banking clients
If you refer a friend and they open a new account and receive a direct deposit of at least $200 in the first 45 days, you will each receive $75. Make sure to use the referral link from your account to get the cash bonus. Chime is great for beginners, offering fee-free overdraft, automatic savings account, early paycheck deposit and 60,000+ fee-free ATMs. Referral bonuses are capped at $1,000 each calendar year.
Chime Referral Bonus Account

Bonus amount
$100 per referral, plus $100 to the friend you refer
How to get it
Referred friend receives $200 direct deposit.
When you get it
Within two business days of account opening.
More information
Be sure to use a unique referral link from your own account.
Expiration
None

More Information About Chime Referral Bonus Account

Though not technically a bank*, Chime is becoming increasingly popular as an online financial institution for banking customers of all ages. Top features include early access to direct deposit, fee-free overdraft, 60,000+ ATMs, a 0.50% APY for the high-yield savings and plenty of features to automatically grow your savings.

Alliant Ultimate Opportunity Savings

Best for Fans of Suze Orman

4.5 out of 5 Overall

Key Features
  • $0 monthly fees with eStatements
  • High-yield savings account
  • Easy-to-track bonus criteria
Not only does Alliant Credit Union’s Ultimate Opportunity Savings Account (in partnership with Suze Orman) have one of the best APYs currently available (0.60%), it pays out its bonus pretty easily. No massive balances or monthly direct deposits to think about.
Alliant Opportunity Savings

Bonus amount
$100
How to get it
Deposit at least $100 a month for 12 months.
When you get it
Within four weeks of completion.
More information
Balance must be $1,200 at the end of 12 months.
Expiration
Dec. 31, 2022

More About Alliant Ultimate Opportunity Savings Account

The Ultimate Opportunity Savings Account from Alliant Credit Union has a lot to like: 80,000+ fee-free ATMs, no monthly fees if you opt in to online statements, a leading mobile app, and a strong APY at 0.60%.

Bank of America Advantage

Best for Standard Checking

4.5 out of 5 Overall

Key Features
  • Monthly maintenance fees
  • Standard checking plans
  • Fees can be waived
Open your Bank of America checking account online using the promo code DNL100CIS. Qualifying direct deposit must be regular monthly income, such as salary or pension payments. Bank of America Advantage Banking accounts come in three levels: SafeBalance, Plus and Relationship. All three carry Bank of America monthly fees that can be waived by meeting direct deposit and minimum balance requirements.
Bank of America Advantage Account

Bonus amount
$100
How to get it
Receive direct deposits of at least $1,000 within 90 days.
When you get it
Within 60 days of account opening.
More information
Monthly fees can be waived.
Expiration
June 30, 2022

See Details More Information About Bank of America Advantage

Bank of America’s Advantage account is broken into three tiers: SafeBalance Banking, Plus Banking, and Relationship Banking. SafeBalance boasts no overdraft fees or non-sufficient funds fees; Plus offers multiple ways to waive the monthly service fee; and Relationship earns interest (though the percentage is quite low).

Fifth Third Momentum Checking

Best for Early Paycheck Access

3.5 out of 5 Overall

Key Features
  • No monthly or hidden fees
  • Early access to paycheck
  • Overdraft avoidance feature
Fifth Third Bank is a regional bank with a decent checking account. Its lack of fees, Extra Time overdraft fee avoidance feature, fraud protection, early access to paychecks and physical branches are all highlights, but its lack of APY (you can upgrade to Preferred Checking to earn interest, but it’s only 0.01% APY) and limited branch network (FL, GA, IL, IN, KY, , MI, NC, OH, SC, TN, and WV) work against the bank.
Fifth Third Checking Account

Bonus amount
$300
How to get it
Open a new account and make direct deposits totaling $500 or more within the first 60 days.
When you get it
Within 10 days of meeting bonus criteria
More information
Overdraft fee avoidance feature still requires that you quickly respond to avoid overdraft fees of $37
Expiration
June 30, 2022

More About Fifth Third Checking Account

Fifth Third’s checking account boasts immediate funds for all check deposits, Extra Time for overdraft fee avoidance, early paycheck access, no minimum balance and no hidden fees. The account also offers basic fraud protection services and unlimited check writing.

Discover Bank Online Savings

Best for APY Earnings

4 out of 5 Overall

Key Features
  • High-yield savings account (0.50% APY)
  • No monthly fees or minimum opening deposit
  • No insufficient funds fees
Discover Bank’s Online Savings Account offers a respectable APY, 8x higher than the national average. You can also pair the account with the Discover Bank Cashback Debit account (one of the best online checking accounts of 2022). However, the deposit amounts to earn the bonus are quite high, making the bonus offer far less achievable for most.
Discover Bank Online Savings Account

Bonus amount
$200
How to get it
Open an account using code BP222 and deposit at least $15,000 (for $150) or $25,000 (for $200) within 30 days.
When you get it
Within 30 days of meeting bonus criteria
More information
Must be a first-time Discover savings account customer
Expiration
June 15, 2022

More Information About Discover Bank Online Savings Account

The Discover Bank Online Savings Account offers a competitive APY (0.50%) with interest compounded daily instead of monthly. There’s no monthly fee with Discover, no minimum deposit and no insufficient funds fee. All in all, not a bad offer.

Huntington Asterisk-Free Checking

Best Regional Bonus

5 out of 5 Overall

Key Features
  • No monthly fees
  • Only available in certain states
  • Quick cash bonus payout
This offer is only available to customers who live in CO, IL, IN, KY, MI, MN, OH, WI, SD, PA or WV. This account does not earn interest.
Huntington Asterisk-Free Checking

Bonus amount
$150
How to get it
Open a new account and make cumulative new deposits totaling $1,000 within the first 60 days.
When you get it
Within 14 days of meeting bonus criteria.
More information
Account must remain open for at least 90 days.
Expiration
June 7, 2022

More Information About Huntington Asterisk-Free

Huntington’s Asterisk-Free Checking Account doesn’t pay out any interest, but the lack of a monthly maintenance fee does make it appealing for an easy checking account. Key features include mobile banking, the No Overdraft Fee $50 Safety Zone and the 24-Hour Grace Overdraft and Return Fee Relief.

“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.

Huntington 5 Checking

Best for Quick Bonus Payout

4 out of 5 Overall

Key Features
  • $5 monthly fee (can be waived)
  • Interest-earning checking
  • Quick cash bonus payout
This offer is only available to customers who live in CO, IL, IN, KY, MI, MN, OH, WI, SD, PA or WV). This account earns interest (currently a 0.02% APY, which is quite low). It also has a monthly maintenance fee of $5, which is waived if you have at least $5,000 across every Huntington bank account.
Huntington 5 Checking Account

Bonus amount
$200
How to get it
Open a new account and make cumulative new deposits totaling $1,000 within the first 60 days.
When you get it
Within 14 days of meeting bonus criteria.
More information
Account must remain open for at least 90 days.
Expiration
June 7, 2022

More Information About Huntington 5 Checking Account

While the Huntington 5 account does have a monthly $5 fee, you can waive it by having $5,000 across accounts with Huntington. By upgrading to this account, you’ll get a higher bonus and earn 0.02% interest on your balance. Plus, you get five free ATM withdrawals. Plus, you get five free ATM withdrawals outside of the Huntington network.

“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.

HSBC Premier Checking

Best for Foreign Transaction Fees

4.5 out of 5 Overall

Key Features
  • Monthly maintenance fee
  • Checking can be linked to high-yield savings
  • Unlimited U.S. ATM use
The HSBC Premier checking account is a solid checking account. While it’s billed as fee-free, it does have a monthly maintenance fee, but you can waive it by maintaining at least $75,000 across accounts, getting $5,000+ in monthly direct deposits, having an HSBC loan of $500,000+ or maintaining Jade status. With this account, you can also travel worry-free with no foreign transaction fees.
HSBC Premier Checking Account

Bonus amount
$450
How you get it
Make qualifying direct deposits of $5,000+ a month for three consecutive months.
When you get it
Within eight weeks of completing qualifying activities.
More information
Subject to monthly maintenance fee of $50 unless conditions are met.
Expiration
June 30, 2022

More Information About HSBC Premier Checking Account

The HSBC Premier pays a handsome bonus of $500, but it’s also a lot less attainable for average Americans. The $75K minimum balance across all HSBC accounts and investments, for example, is a hard criterion to meet to waive the monthly fee. Some more attainable accounts include Advance, Choice Checking and Basic Banking, but you’ll lose out on the bonus opportunity.

M&T Bank EZChoice Checking

Best for Beginners

3.5 out of 5 Overall

Key Features
  • No monthly maintenance fees
  • Unlimited check writing
  • Physical branches
The EZChoice Checking account from M&T Bank is the most basic package offered. It’s great for beginners because it has no monthly maintenance charge and no monthly minimum balance requirement. Plus, there’s unlimited check writing. You will need $25 to open the account and qualifying direct deposits totaling at least $500 within the first 90 days to earn the bonus. This offer is only valid in select states.
M&T Bank EZChoice Checking

Bonus Amount
$150
How you get it
Make qualifying direct deposits totaling at least $500 within 90 days of opening the account.
Whey you get it
Within 90 days after the direct deposit.
The fine print
There’s a $50 early close-out fee if you close the account within 180 days of opening.
Expiration
July 31, 2022

More Information About M&T Bank EZChoice Checking Account

M&T Bank has 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.

M&T Bank MyChoice Plus Checking

Best for Loan Seekers

Key Features
  • Discounted loan rates
  • ATM fee reimbursement
  • Interest-bearing options
The MyChoice Plus Checking account from M&T Bank requires extra work to avoid a monthly fee ($14.75): Either maintain an average daily balance of $2,500 or receive $1,500 in direct deposits each month. With this account, you qualify for discounted loan rates with M&T. You will need $25 to open the account and qualifying direct deposits totaling at least $500 within the first 90 days to earn the bonus. This offer is only valid in select states.
M&T Bank MyChoice Plus Checking

Bonus
$250
How you get it
Make qualifying direct deposits totaling at least $500 within 90 days of opening the account.
When you get it
Within 90 days after the direct deposit.
The fine print
There’s a $50 early close-out fee if you close the account within 180 days of opening.
Expiration
July 31, 2022

More Information About M&T Bank MyChoice Plus Checking Account

M&T Bank has 700 branches and 1,800 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virgina, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.

How to Search for a Checking Account Bonus on Your Own

Instead of listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.

But maybe you’re interested in banking with your local credit union, opening a small business checking account or exploring what investment accounts are available. There are often cash bonuses attached to these accounts too.

Banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.

  • Check the bank website first. Sometimes it’ll advertise its offers with a blaring promo code. This is rare, but it’s worth a quick check — it could save you a ton of time.
  • Reach out to customer service. Let them know you’re shopping for a new account, and you’d like to know if the bank is running any promotions. More often than not, the nice representative will send you a special link.
  • Google the best bank account bonuses. You’ll likely dig up some offers from third-party sites, so make sure the offer:
    • Hasn’t expired.
    • Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. Read some online reviews.
    • Doesn’t require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000.
  • Reach out to your own network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.

Overall, be smart. Don’t let the promise of a cash bonus blind you. Read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties. With the proper due diligence, you can earn a checking account bonus — or any other bank promotion — while also choosing the best bank for you.

Will Opening a Bank Account Hurt Your Credit Score?

If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and therefore have no effect on your credit score, unless you have an outstanding negative balance that the bank turns over to a collection agency.

Sometimes when you go to open a new account, banks will do a soft credit check. However, that won’t affect your credit score.

Timothy Moore covers bank accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.

Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

¹The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of November 1, 2021. No minimum balance required. Must have $0.01 in savings to earn interest.
2The average national savings account interest rate of 0.06% is determined by FDIC as of November 1, 2021 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit https://www.fdic.gov/regulations/resources/rates/ to learn more.