11 Banks with Immediate Sign Up Bonuses and No Fees

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Contributor, Benzinga
February 26, 2024
Best Banks with Sign Up Bonuses

Benzinga found HSBC Bank has the highest welcome bonus with no direct deposit requirement or sign up fees.

Traditional banks often have hidden fees and lengthy processes that can be frustrating for customers. However, there are alternative options available that prioritize customer satisfaction and convenience. By choosing a bank with immediate sign-up bonuses and no fees, you can save time and money while enjoying a seamless banking experience.

Most major banks offer a bank account bonus when you open a new account. So what do banks pay you to open an account? Citi, Bank of America, Discover, Chase, HSBC, SoFi Money, Wells Fargo, Santander and Citizens Bank are just a few of the major banks with one or more great offers. Some even pay you to open an account instantly. Many, but not all, require that you set up a direct deposit to qualify for the bank account bonus. You’ll usually, be asked for referrals or other actions like a major deposit to get the big signup bonuses.

Compare current options from these banks offering money to open account to find the best deal for you.

Banks With Sign-Up Bonuses and No Fees

Banks offer a bonus for new accounts to attract customers. Some banks offer both a savings account bonus and a checking account bonus, while some only have one type of bonus. 

To receive the bank account incentives, you might be required to set up direct deposits or transfer a minimum amount into the account. Usually, you'll also need to keep funds there for at least a few months.

Some new savings accounts offer a higher interest rate as a savings account bonus. Long term, this can build greater wealth, although even the best savings account interest rates aren't usually enough to combat inflation rates.

You'll find some of the best bank sign up bonus offers below. 

Bank of America

Founded in 1998, Bank of America Corp. is insured by the Federal Deposit Insurance Corporation (FDIC) and serves about 68 million consumers and small businesses. It has 3,900 branches plus a network of about 16,000 ATMs.

Bank of America is running several offers based on the account type you open. As a new customer, you can qualify for a $200 bonus.

Accounts that qualify for this offer:

  • Bank of America Advantage SafeBalance Banking: This requires only $25 for an opening deposit and a $4.95 monthly fee.
  • Bank of America Advantage Plus Banking: This requires a $100 minimum opening deposit. The $12 monthly fee is waived with direct deposit or by meeting daily balance requirements.
  • Bank of America Advantage Relationship Banking: $100 is the minimum opening deposit. There's a $25 monthly fee, but it's waived with direct deposit or by meeting daily balance requirements.

The offer code TWA200CIS expires on May 31, 2024. Fees can be waived if you meet any of the following criteria:

  • You are below 18 years old
  • You are currently qualified as a student and under age 25
  • A minimum balance of $20,000 is required if you enroll in BofA Preferred Rewards

Discover Bank

Discover Bank is an FDIC-insured financial institution known for more competitive interest rates on savings than many traditional brick-and-mortar institutions. Discover customers can access funds through more than 415,000 ATMs in its network.

Discover is running a savings account bonus that is valid until Mar. 14, 2024. You'll need to enter offer code GBPP923 when applying. With Discover's savings account bonus offer, you'll earn $150 on a deposit of at least $15,000 within 30 days of account opening. You'll get $200 if you deposit at least $25,000 within 30 days of account opening.

The offer is only valid for new customers. It's a good offer for anyone saving for a mortgage down payment or other large savings goal who already has at least $15,000 in savings.


HSBC Bank is one of the world's largest banking and financial services institutions. U.K.-based HSBC has 159 U.S. branches and is FDIC-insured.

HSBC is offering between $1,500 and $4,000 welcome deposit for new customers opening a new HSBC Premier checking account and complete the qualifying activities. The promo period is from Jan. 8, 2024 through Mar. 27, 2024.

When you complete the requirements, you'll receive a cash bonus of:

  • $1,500 when you make a deposit from $100,000 to $199,999.99
  • $2,500 when you deposit or invest $300,000 to 499,999.99
  • $3,500 when you deposit or invest $500,000+
  • Plus, earn an extra $500 when you set up recurring monthly Direct Deposit of at least $5,000 for 3 months

This offer is good for anyone making more than $10,000 through employment or other third-party income.

Chase Bank

  • Chase Bank
    Best For:
    Best for Checking Account Variety
    securely through Chase Bank's website

    *With Chase Overdraft AssistSM, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Chase Bank is one of the largest U.S. banks, with locations in the 48 contiguous U.S. states. This FDIC-insured bank serves about 62 million U.S. households. Features include:

  • Competitive $3 non-ATM fee ($5 per transaction outside the U.S.)
  • Save an average of $40 on fees per month

Chase is running several offers that are great for customers with all sizes of income. You can take advantage of these offers even if you don't have large savings. The current offers are valid until Apr. 17, 2024, but Chase regularly has new offers.

With Chase Secure Banking, you can get $100 if you open a new account and make 10 qualifying transactions within 60 days of opening the account. These include debit card purchases, online bill payments and automated clearing house (ACH) credits.

New Chase customers can also enjoy $300 when they open a Chase Total Checking®. To qualify you need to make direct deposits totaling $500 or more within 90 days of coupon enrollment.

PNC Bank

PNC bank is the sixth-largest bank in the U.S. It is an FDIC-insured bank that has more than 2,600 locations and 12 million consumer and small-businesses clients. Its signup bank account bonus and savings plans are good for consumers of all income levels.

With PNC bank you can earn $200 when you open and use a new Virtual Wallet Checking Pro account. PNC's virtual wallets are like traditional checking accounts, although they offer savings account options as well. You'll also get a 4% annual percentage rate (APR) on a Virtual Wallet Checking Pro Growth account.

To qualify for the $400 account signup bonus, you'll need $5,000 or more in qualifying deposits within 60 days of account opening. You can get $200 with $2,000 in direct deposits within 60 days and a $50 account signup bonus by receiving monthly direct deposits of $500 or more.


Albert is a banking app and service provided by Sutton Bank, an FDIC-insured bank. Albert's new customer signup bonus is not currently active, but when it is, you can snag up to $150. Currently, it’s offering referral bonuses. So if you know someone with an account, ask them to refer you. 

Citizens Bank

Citizens Bank is an FDIC-insured, U.S.-based bank. Citizens Bank has about 3,300 ATMs and approximately 1,200 branches in 14 states in New England, the Mid-Atlantic and the Midwest.

With the current offer from Citizens Bank, new customers will get a $400 new checking account bonus if they meet a few conditions. To qualify, you must receive a direct deposit of $500 or more within 60 days. That will get you $300. You'll also get $2 for every debit card purchase, up to $100, within 60 days of account opening.

This offer is only available in Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont and Washington D.C.

Wells Fargo

Wells Fargo Bank is an FDIC-insured, U.S.-based bank with 8,050 branches and 13,000 ATMs. Wells Fargo is one of the Big Four U.S. national banks. At Wells Fargo, consumers can get a $300 bank account welcome bonus when opening a new Wells Fargo Everyday checking account.

To qualify for the Wells Fargo welcome bonus, you need to deposit $25 or more and then receive $1,000 or more in qualifying direct deposits into the checking account within 90 days. There is a $10 monthly fee, but that is waived if you maintain a daily balance of at least $500 or meet one of three other conditions.


Citi is one of the leading banks in the U.S. and is FDIC-insured. It was founded in 1812 and has 723 U.S. branches as well as locations in 19 countries.

With the Citi Priority account, you can earn up to $2,000 for a new checking account bonus. To take advantage of this offer, you must deposit a minimum of funds that were not previously in another Citi account within 20 days of account opening. To qualify for the bonus, you must maintain the minimum balance for 60 consecutive days from the 21st day after account opening.

Citi offers tiers for this bonus. The minimum tier is a deposit of $10,000 to $29,999, which gives you a $200 bonus. To get the $2,000 bonus, you'll need to deposit $300,000 or more. This offer is best for a consumer with large savings.

Credit Unions With Sign-Up Bonuses and No Fees

Credit unions are known for their community-focused approach to banking, offering more personalized financial services and better rates than traditional banks. But did you know that some credit unions also offer sign-up bonuses and no monthly fees for new members? If you're looking to join a credit union and take advantage of these perks, here are some options to consider.

Alliant Credit Union

Alliant Credit Union is a financial institution that has been serving members since 1935. With a focus on providing top-notch customer service and competitive rates, Alliant Credit Union has grown to become one of the largest credit unions in the United States.

With The Ultimate Opportunity Savings Account, Alliant Credit Union offers a $100 sign-up bonus when you open a new account and meet certain requirements. Plus, they have no monthly fees and offer a high-interest rate on savings accounts.

American Airlines Federal Credit Union

American Airlines Federal Credit Union (AAFCU) is a financial institution that caters to employees of American Airlines and their families. Founded in 1936, AAFCU has a long history of providing banking services to the airline industry.

American Airlines Federal Credit Union offers $25 for each family member referral up to a maximum of $250. To qualify, you need to enter the promo code "REFER25" and include the name and email address fo the person who refers you. AAFCU also offers $25 when you set up a direct deposit with AAFCU.

Taking Advantage of New Bank Sign Up Bonuses

Banks that pay you to open an account can be a nice way to earn a little extra cash. Most major banks offer regular checking account bonuses and savings account bonus offers. 

Be sure to keep an eye on interest and fees, and choose an account with low or no fees and a high interest rate on savings or checking to maximize earnings.

Frequently Asked Questions


Which banks give money for opening an account?


Nearly every major bank gives money for opening an account, including a checking account bonus or savings account bonus, although consumers must meet additional conditions like setting up direct deposits or a minimum account balance.


Why do banks offer bonuses for opening an account?


Banks give money for opening accounts as a way to incentivize new customers to hold accounts with them. Many offer a checking account bonus or savings account bonus or both.


How do I get around direct deposit requirements?


You can do an ACH push from one bank account to another to mimic a direct deposit, although you still might not qualify for account bonuses. It is easy to set up direct deposits with your employer to take advantage of signup offers.

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