To earn up to $500 or more in checking offers in October 2024, we recommend Chase Bank and TD Bank. These two banks offer bank account bonuses with relatively simple requirements.
We also recommend Citi Bank and Huntington Bank, although their requirements to earn checking account bonuses of $500 or more require high balances.
Let’s dive into how you can earn a $500 checking offer and the offers that might fit your banking needs.
Key takeaways
- To earn a checking account bonus, we recommend Chase Bank and TD Bank since they offer up to $500 and $900, respectively.
- Depending on the bonus offer you choose, you may also need to open a savings account along with your checking account to take full advantage of the bonus.
- To qualify for the top checking account offers, you typically need to receive direct deposits or maintain a certain balance.
- To guarantee the validity and activation of any checking account bonus offers, make sure to enroll directly through the specific offer page provided by the bank.
4 bank account bonus offers of $500 or more
Compare bank bonus offers of $500 or more
Bank name | Bonus amount | Required account(s) |
Chase Bank | $300 to $900 |
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TD Bank | $200 to $500 |
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Citi Bank | $500 to $2,500 |
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Huntington Bank | $400 to $600 |
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1. Chase Bank: Up to $900
Bank account(s) | Bonus amount | Required activity |
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$300 to $900 |
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Chase Bank’s bonus is a two-parter that you can complete separately. This bonus includes $300 for a checking account and $200 for a savings account. However, when you do them together, you can earn an additional $400 for a total of $900.
Chase Total Checking account
- Open a Chase Total Checking account and complete a direct deposit1 into the account within the first 90 days to earn a $300 bonus.
- The deadline to sign up for this bonus is Jan. 22, 20252. Your bonus will appear in your account within 15 days3 after you meet the requirements.
Keep in mind that Chase Total Checking charges a $12 monthly maintenance fee4. However, this fee can be waived.
When you open a new Chase Total Checking® account with qualifying activities.5 FDIC Insured. Offer valid through 1/22/2025.
Chase Savings account
- Deposit at least $15,000 into your savings account from an outside bank to earn a $200 bonus.
- Maintain your balance for at least 90 days.
- The deadline to sign up for this bonus is Oct. 16, 2024. Your bonus will show up within this account within 15 days of meeting the requirements.
Keep in mind that Chase Savings charges a $5 monthly maintenance fee. However, this fee can be waived.
Additional Chase checking and savings bonus
- If you meet checking and savings bonus requirements together, you’ll earn an extra $400 bonus.
- The deadline to sign up for this bonus is Oct. 16, 2024. Your bonus will be deposited into your checking account within 15 days of earning the second bonus offer.
Additional considerations
These bonus offers are only available to people who haven’t had any Chase Bank accounts within the last 90 days, including current customers. Additionally, if you’ve had a Chase Bank account closed within the last three years with a negative balance, you’ll be ineligible.
You’re also ineligible if you’ve earned any Chase Bank checking or savings bonuses within the past two years.
Open a Chase Total Checking account or learn more in our Chase Bank review.
2. TD Bank: Up to $500
Bank account(s) | Bonus amount | Required activity |
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$200 to $500 |
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TD Bank offers checking and savings account bonuses with different timelines and requirements. To earn more, you’ll need to open one checking account and one savings account.
TD checking account
- You can open a TD Complete Checking or TD Beyond Checking to earn a $200 or $300 bonus, respectively.
- The bonus for TD Complete Checking requires direct deposits of $500 or more within 60 days.
- The bonus for TD Beyond Checking requires direct deposits of $2,500 or more within 60 days.
- The deadline to sign up for this offer is March 31, 2024. The bonus will be deposited into your account within 180 days after account opening.
Keep in mind that TD Complete Checking charges a $15 monthly maintenance fee, while TD Beyond Checking charges a $25 monthly maintenance fee. However, both fees can be waived.
Keep in mind
To qualify as a direct deposit, TD requires each transaction to be an electronic transfer of at least $250 from your salary, pension, or government benefits. Transfers between personal accounts, including those within TD Bank or from external financial institutions and brokerages, don’t meet the criteria for a direct deposit.TD savings account
- You can open TD Simple Savings or TD Signature Savings to earn a $200 bonus.
- The bonus for either TD savings account requires depositing $10,000 into your account from an outside bank within the first 20 days. Once deposited, you’ll have to maintain your $10,000 balance in the account for 90 days.
- The deadline to sign up for this offer is April 30, 2024. The bonus will be deposited into your account within 180 days after account opening.
Keep in mind that TD Simple Savings charges a $5 monthly maintenance fee, and TD Signature Savings charges a $15 monthly maintenance fee. However, both fees can be waived.
Additional considerations
TD checking and savings bonuses are only available to new customers who haven’t had a TD checking or savings account closed within the past 12 months. Additionally, if you previously earned any TD Bank bonus, you’d be ineligible.
3. Citi: Up to $2,500
Bank account(s) | Bonus amount | Required activity |
Citi Access Checking or Citi Regular Checking | $500 to $2,500 |
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Citi offers a high bonus when you open a Citi Access Checking or Citi Regular Checking account and maintain a certain balance for 60 days. However, the balance requirements for the highest bonus of $2,500 are quite steep.
Citi checking account
- Sign up for a new Citi Access Checking or Citi Regular Checking and make one of the following deposits within 20 days.
Bonus amount | Required deposit and maintained balance |
$500 | $30,000 to $199,999 |
$1,500 | $200,000 to $299,999 |
$2,500 | $300,000 or higher |
- Maintain your balance for 60 days to earn your bonus. You’ll only be eligible to earn a lower bonus amount if your balance drops during this period.
- If your balance drops below $30,000 at all, you won’t earn any bonus.
- The deadline to sign up for this bonus is July 8, 2024. Citi will deposit the bonus into your account within 30 days after meeting the requirements.
Keep in mind that the Citi Access Checking charges a $5 monthly maintenance fee while the Citi Regular Checking charges a $15 monthly maintenance fee. Both fees can be waived, and since maintaining a balance of $30,000 or more places you in a Citi Relationship Tier, you’d have the fee waived.
Additional considerations
This offer is only available for people who have never had a Citi bank account before and will be bringing money through deposits from another bank.
4. Huntington: Up to $600
Bank account(s) | Bonus amount | Required activity |
Perks Checking or Platinum Perks Checking | $400 to $600 |
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Huntington Bank offers two separate bonuses for opening a new checking account.
Huntington Bank checking account
- Open a Perks Checking to earn a $400 sign-up bonus or a Platinum Perks Checking to earn a $600 sign-up bonus.
- The bonus for Perks Checking requires setting up and receiving a qualifying direct deposit within 90 days.
- The bonus for Platinum Perks Checking requires depositing at least $25,000 within 90 days.
- Money must come from another bank or outside source and you need to keep your account open for 90 days.
- The deadline to sign up for these bonuses is June 7, 2024. Huntington Bank will deposit the bonus into your account within 14 days after you meet the requirements.
Additional considerations
This offer is only available to residents in a handful of states.
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In addition, if you’re a current Huntington Bank customer or closed a checking account with them within the past six months, you’re not eligible for this bonus.
How to choose a checking account bonus offer
Earning a $500 checking offer for opening a new account and depositing your salary or other funds into it may seem easy, but there are a few things to consider first.
- Monthly fees: Some banks offering account sign-up bonuses may charge monthly account fees. In some cases, these fees can be waived. Make sure to understand these fees and the requirements for waiving them.
- Balance requirements: Most $500 checking offers require you to receive direct deposits, maintain a balance, or a combination of both. Make sure that moving your direct deposits makes sense for you and that maintaining a certain balance is something you can achieve.
- Taxes: Bank account bonuses are generally considered taxable income along with the interest you earn on a savings or checking account. You’ll typically receive relevant tax documents during tax season. Make sure to include these documents in your tax filing.
Checking account bonus offers FAQ
What banks are paying $500 to open an account?
Banks change their new account sign-up bonus offers frequently. However, as of March 20, 2024, here are four of the best banks offering sign-up bonuses worth $500 or more.
- Chase Bank: Up to $900 (This breaks down into $300 for Chase Total Checking and $200 for Chase Savings, plus $400 extra if you complete the bonus for both.)
- TD Bank: Up to $500 (This breaks down into $200 or $300 for TD Complete Checking or TD Beyond Checking, respectively, plus $200 for TD Simple Savings or TD Signature Savings.)
- Citi: Up to $2,500 for a Citi checking account
- Huntington: Up to $400 or $600 for Perks Checking or Platinum Perks Checking
Do I have to pay taxes on bank bonuses?
Yes. During the tax season, banks that you earned bonuses from will typically issue you a 1099 tax form to report your bonus, along with any other interest you earn on your bank accounts, to the Internal Revenue Service (IRS). Bank account bonuses are typically taxed at the same rate as the rest of your income, which varies between 10% and 37%, depending on how much you earn.
Is it worth opening a bank account for the bonus?
While a bonus can be an attractive incentive, we generally recommend opening a bank account based on your actual banking needs. Consider factors such as the services offered, fees, accessibility, and customer service. A bonus might be a nice perk, but it shouldn’t be the primary reason for choosing a bank. It’s important to find a bank that suits your personal financial habits and goals.
Checking account bonus offers: bottom line
Earning a $500 checking account offer isn’t difficult, but it requires you to find a suitable offer and pay attention to its terms and conditions. Chase, TD Bank, Citi, and Huntington Bank are among the banks we recommend to earn a checking account offer.
To explore more bank offers, check out our list of the top checking account bonuses. You can also explore more banking options in our list of the best online banks.