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Top Financial Incentives for Bank Accounts in May 2025

Banks offer cash incentives for establishing new checking or savings accounts: Adhering to the bank's guidelines could potentially net you several hundred dollars.

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New account incentives at certain banks: Adhere to their conditions, and you'll potentially pocket...
New account incentives at certain banks: Adhere to their conditions, and you'll potentially pocket a significant cash reward, potentially hundreds of dollars.

Top Financial Incentives for Bank Accounts in May 2025

Ready to boost your bank account game? Check out these sizzling bank account bonuses for savings, checking, and brokerage accounts!

Find the best deal and the perfect account for you, and don't forget to explore other awesome incentives, like bonuses for opening a brokerage account. Just remember, each institution has its own terms for earning a bonus, so make sure to check their websites to see if you qualify.

Best Checking Account Bonuses

SoFi: Grab up to $300 bonus with a new checking and savings account and direct deposits (expires Jan. 31, 2026)

Wells Fargo: Score a $325 bonus with an Everyday Checking account (expires July 8, 2025)

KeyBank: $300 bonus with a new Smart Checking account and a $1,000 direct deposit (expires June 27, 2025)

Bank of America: Cash in on a $300 bonus by opening an Advantage Relationship Banking, Advantage Plus Banking, or SafeBalance Banking account (expires May 31, 2025)

PNC Bank: Earn up to $400 bonus with a new Virtual Wallet account (Varies based on the tier of account you choose) (expires June 30, 2025)

Huntington National Bank: Score up to $600 bonus (Perks Checking Account) or $1,000 bonus (Platinum Perks Checking account), valid for residents in specific states (Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, and Wisconsin) (expires July 7, 2025)

Chase Private Client: Grab an impressive $3,000 bonus! (Eligibility and conditions apply, expires July 16, 2025)

Best Savings Account / Money Market Account Bonuses

Alliant Credit Union: $100 bonus after a year with the Ultimate Opportunity Savings Account (Expires Dec. 31, 2025)

TD Bank: $200 bonus for new TD Signature Savings or TD Simple Savings account (Expires October 31, 2025)

CIT Bank: Earn up to $300 bonus with the Platinum Savings account (Uses promotional code PS2025) (No expiration date)

Best Business Bank Account Bonuses

Axos Bank: Snag up to $400 bonus for a new business checking account (expires Sept. 30, 2025)

PNC Bank: Earn up to $1,000 bonus for business checking accounts (expires June 30, 2025)

Huntington National Bank: Earn up to $1,000 bonus for business checking accounts (expires June 9, 2025)

So, Why the Bank Bonuses?

Banks use sign-up bonuses to stand out from the crowd and attract new customers. While they could pay higher yields, offering a bonus is often simpler. Some financial institutions offer more than one bonus, but keep in mind that multiple bonuses at the same time from the same bank are usually not available.

Remember, not every new account bonus offer is a great deal, so make sure to scrutinize the small print, be realistic about your ability to meet the requirements, and weigh the potential drawbacks, such as high minimum balance requirements and monthly fees.

Looking for a new account? Consider your needs and make sure the account is a good fit. If you value local branches and ATMs, ensure there are plenty in your area and avoid paying out-of-network ATM fees. Research the digital tools the bank or credit union provides.

For savings accounts, consider whether your desired account pays a good interest rate or if you're better off finding another bank that offers a higher yield in the long term. Do the math, weigh your options, and make smart choices!

[1] "Bank Account Bonuses: What You Need to Know – NerdWallet," NerdWallet, Accessed May 16, 2023. [Online]. Available: https://www.nerdwallet.com/reviews/best-bank-accounts/bank-account-bonuses

[2] "Best Banks, Current Accounts, Saving Accounts, Business Bank Accounts & Credit Cards - Compare Accounts & Switch Bank Today - GoCompare," GoCompare, Accessed May 16, 2023. [Online]. Available: https://www.gocompare.com/bank-accounts/

[3] "Bank account bonuses: What to watch out for," CNBC, Accessed May 16, 2023. [Online]. Available: https://www.cnbc.com/select/bank-account-bonuses/

[4] "Mileage Savings Account - Bask Bank," Bask Bank, Accessed May 16, 2023. [Online]. Available: https://www.baskbank.com/product/mileage-savings-account/

  1. PNC Bank offers up to $400 bonus with a new Virtual Wallet account, making it one of the banking industry's competitive solutions in finance.
  2. SoFi provides a checking and savings account bonus of up to $300, offered as part of their commitment to consumer banking and insurance services.
  3. In the savings account category, CIT Bank stands out with an appealing offer of up to $300 bonus with the Platinum Savings account, a lucrative perk for industry-savvy finance enthusiasts.
  4. When it comes to business banking, both Huntington National Bank and PNC Bank provide up to $1,000 bonuses for business checking accounts, effectively positioning these institutions as key players in the banking-and-insurance sector.
  5. Before deciding on a bank account or taking advantage of these bonuses, investors should carefully review the provided requirements, weighing the potential drawbacks such as high minimum balance requirements and monthly fees, to ensure the best financial decision is made.

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