In 2025, snagging a great deal on an online bank is a smart financial move. Don’t miss out! According to the American Banking Association and WalletHub, many banks offer sign – up bonuses from $100 to $6,000. Compare premium online banks to others to find the best fit. With a Best Price Guarantee and Free Installation Included in some cases, these offers are too good to pass up. Whether you’re in New York or Los Angeles, find local banking services that meet your needs and start earning today!
Sign – up Bonuses
Did you know that nearly 50% of consumers don’t shop around for the best bank offers? Sign – up bonuses can be a lucrative incentive when choosing an online bank. In 2025, many banks are vying for customers by offering attractive sign – up bonuses.
Typical Range
The typical range of sign – up bonuses can vary widely depending on the bank and the type of account. Some banks offer relatively small bonuses in the range of $100 – $300, while others may offer much larger incentives, sometimes up to $3,000 or more.
Examples from Different Banks
- E*TRADE Bank: Currently offering new investors up to $6,000 in bonus. This is a significant amount that can provide a great boost to your investment portfolio.
- SoFi: Offers up to $300 bonus. SoFi also has a high – yield savings account with an APY of up to 3.80% when you receive direct deposits, and its checking account earns an APY of 0.50% (as of 01/24/25) with direct deposits.
- Discover: Offers up to $360 bonus. Discover is well – known for its customer – friendly banking services and cash – back rewards.
Pro Tip: Before choosing a bank based on the sign – up bonus, make sure to understand the account’s other features, such as fees, interest rates, and customer service.
Factors Influencing Bonus Amount
Direct Deposit
Direct deposit is a major factor in determining the bonus amount. Many banks require a certain amount of direct deposit within a specified period to qualify for the bonus. For example, M&T Bank offers bonuses of $100, $150 or $200 when you open an eligible checking account by May 31, 2025 using the promo code. To qualify, you must make at least $500 in direct deposits within 90 days of opening the account.
Case Study: A customer opened a checking account with a bank that offered a $200 bonus. By setting up direct deposit of their monthly paycheck, they were able to meet the requirement and receive the bonus. They also continued to use the account for its other features like low fees and easy online banking.
Minimum Deposit
The minimum deposit required to open an account can also influence the bonus amount. Some banks offer higher bonuses for customers who are willing to deposit a larger sum of money upfront. For instance, some accounts may offer a $500 bonus if you deposit $10,000 or more within the first 30 days of opening the account.
As recommended by WalletHub, it’s important to compare different banks’ minimum deposit requirements and bonus offers to find the best fit for your financial situation.
Duration of Offers
Sign – up bonus offers usually have an expiration date. For example, the Wells Fargo Bank Bonus of $325 for the Everyday Checking Account ends on 5/20/25, and the Chase Bank Bonus offer to earn up to $900 with new checking & savings accounts ends on 7/16/25. It’s crucial to be aware of these expiration dates to ensure you don’t miss out on a great opportunity.
Top – performing solutions include setting up reminders on your phone or calendar when you see an offer that interests you.
Pro Tip: If you’re considering a bank account for the sign – up bonus, start the account – opening process well before the offer expires to avoid any last – minute issues.
Banks Offering Best Bonuses
Some of the banks that are currently offering the best sign – up bonuses in 2025 include:
- Chase: Offers up to $900 bonus with new checking & savings accounts. Chase is a well – established bank with a large network of branches and ATMs.
- BMO: Offers a $350 cash bonus. BMO provides a range of banking services and has a reputation for good customer service.
- Axos Bank: New business owners could get a $100 bonus. Axos Bank is an online – only bank known for its low fees and high – interest savings accounts.
Key Takeaways: - Sign – up bonuses can range from $100 to $3,000+ depending on the bank and account type.
- Direct deposit and minimum deposit requirements are important factors in determining the bonus amount.
- Be aware of the offer expiration dates to take advantage of the bonuses.
- Consider other account features in addition to the sign – up bonus when choosing a bank.
Try our bank bonus comparison tool to quickly find the best sign – up bonuses based on your criteria.
Opening Bonus Requirements
In 2025, the banking landscape is rife with enticing sign – up bonuses, but to snag these financial rewards, understanding the opening bonus requirements is crucial. According to a survey by the American Banking Association, over 70% of banks offering sign – up bonuses have specific conditions that customers must meet. Let’s delve into what these requirements typically entail.
Common Requirements
Direct Deposit
One of the most prevalent opening bonus requirements is direct deposit. Many banks use this to ensure a consistent flow of funds into the new account. For example, Chase offers a $300 Total Checking Account Bonus, but you need to set up a qualifying direct deposit to your checking account. This is a mutually beneficial arrangement: the bank gets regular deposits, and you get a nice cash bonus.
Pro Tip: When considering a bank based on a direct – deposit – based bonus, check if your employer offers direct deposit and if the bank’s requirements match your payroll schedule.
Minimum Deposit
Minimum deposit requirements are also quite common. Banks may require you to deposit a certain amount of new money into the account within a specified time frame. U.S. Bank offers a $500 bonus for opening a new Business Essentials account. To earn this bonus, you must make deposits of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until a certain date.
Case Study: A small business owner looking to open a new business account decided to go with U.S. Bank for the $500 bonus. By carefully planning their cash flow, they were able to meet the minimum deposit requirement and secure the bonus.
Pro Tip: If you’re short on funds to meet the minimum deposit, consider consolidating your existing accounts or moving money from low – interest savings.
Transaction Requirements
Some banks may set transaction requirements to qualify for the bonus. This could include a certain number of debit card transactions, bill payments, or transfers. While not as common as direct deposit or minimum deposit requirements, they are still a factor to keep in mind.
As recommended by financial planning tools like Mint, always read the fine print regarding transaction requirements to avoid any surprises.
Less – common Requirements
There are also some less – common opening bonus requirements. These might include maintaining a specific account balance for an extended period, enrolling in additional bank services like investment accounts or credit cards, or making a certain number of ATM withdrawals from in – network machines. For example, some banks may offer a bonus if you enroll in their mobile banking app and make a certain number of mobile check deposits.
Key Takeaways:
- Direct deposit, minimum deposit, and transaction requirements are common bonus – qualifying conditions.
- Always read the fine print to understand all requirements.
- Plan your finances in advance to meet the requirements and secure the bonus.
Try our bank bonus calculator to see how much you could earn based on different requirements.
Best Online Banks
The fintech industry continues to boom, with banking app revenue growing by approximately 88% from 2020 to 2021 (SEMrush 2023 Study). This growth has led to an influx of online banks offering attractive sign – up bonuses. When choosing the best online bank for you, there are several factors to consider.
Factors to Consider
Qualification Requirements
Every online bank has its own set of requirements to qualify for the sign – up bonus. For example, M&T Bank requires you to open an eligible checking account by May 31, 2025, using the promo code and make at least $500 in direct deposits within 90 days to earn bonuses of $100, $150, or $200. Pro Tip: Before signing up for an account, carefully read the qualification requirements to ensure you can meet them. Otherwise, you might end up missing out on the bonus.
Bonus Amount
Online banks offer a wide range of bonus amounts. E*TRADE Bank is currently offering new investors up to $6,000 in bonus payouts. On the other hand, Axos Bank offers a $100 bonus for new business owners. It’s essential to compare the bonus amounts across different banks to get the most value.
Other Banking Features
Beyond the sign – up bonus, consider other banking features such as ATM access, interest rates, monthly account fees, and minimum balances. SoFi, for instance, offers high – yield savings, an interest rate on checking account balances, and low fees. If you’re a student, SoFi® Student Checking and Savings is a great option as it has no monthly fees or minimum deposit requirements, a $30 signup bonus, and a 0.50% APY.
Comparison between Traditional Online Banks and Neobanks
Traditional online banks and neobanks both offer sign – up bonuses, but they have distinct differences. Traditional online banks are often part of larger, well – established financial institutions. They generally provide a wider range of services, including business accounts, loans, mortgages, and investment products. For customers with complex financial needs, traditional banks often offer access to financial advisors and personalized solutions.
Neobanks, on the other hand, are fintech companies that operate entirely online. They leverage technology and artificial intelligence to offer more convenience, lower fees, and more innovative features. Many neobanks target underserved segments such as the unbanked or underbanked. However, since many neobanks partner with third – party banks to hold customer funds, they may lack the comprehensive protections offered by traditional financial institutions.
| Feature | Traditional Online Banks | Neobanks |
|---|---|---|
| Range of Services | Wide, including loans, mortgages, and investment products | Typically basic checking and savings, may expand to niche services |
| Customer Service | In – person or phone support, access to financial advisors | Mainly digital support |
| Fees | May have higher fees | Generally lower fees |
| Bonus Strategies | Bonuses may be part of a broader loyalty program | Use bonuses to attract new customers quickly |
Key Takeaways:
- When choosing an online bank, consider qualification requirements, bonus amount, and other banking features.
- Traditional online banks offer a wide range of services and personalized solutions, while neobanks focus on convenience and lower fees.
- Always read the fine print to ensure you can meet the bonus requirements.
As recommended by WalletHub, it’s a good practice to compare different online banks before making a decision. Try our bank bonus calculator to find out which bank offers the best deal for you. Remember, test results may vary, and it’s important to choose the bank that best suits your financial needs.
FAQ
What is an online bank sign – up bonus?
An online bank sign – up bonus is a financial incentive offered by banks to attract new customers. As stated in the article, bonuses can range from $100 – $300 or even up to $3,000+. Banks like E*TRADE Bank offer up to $6,000. These bonuses often come with conditions, detailed in our [Opening Bonus Requirements] analysis.
How to choose the best online bank with a sign – up bonus?
According to WalletHub, when selecting an online bank, consider multiple factors. First, check the qualification requirements, such as direct deposit or minimum deposit conditions. Second, compare bonus amounts across banks. Also, evaluate other banking features like interest rates and fees. This is detailed in our [Best Online Banks] section.
Steps for meeting opening bonus requirements?
To meet opening bonus requirements:
- Understand the common requirements like direct deposit, minimum deposit, and transaction requirements.
- Plan your finances in advance. For example, if there’s a minimum deposit, consolidate funds.
- Read the fine – print carefully to avoid surprises. As recommended by financial tools like Mint, this is crucial. Detailed in our [Opening Bonus Requirements] part.
Traditional online banks vs Neobanks for sign – up bonuses: which is better?
Traditional online banks, part of large institutions, offer a wide range of services and may have bonuses as part of loyalty programs. Neobanks, fintech – based, use bonuses to quickly attract new customers. Unlike traditional banks, neobanks usually have lower fees but may lack comprehensive protections. See our [Comparison between Traditional Online Banks and Neobanks] analysis.
