Best Bank Promotions That Don't Require Direct Deposit

Banks often offer promotions that pay you to open a new account. However, to take advantage of the promotions, you usually must have a certain amount of money directly deposited into your account. So what if you don’t use direct deposit?

We’ve looked into the best bank promotions without direct deposit to give you some options to consider. With each of these promotions, we evaluated the size of the bank bonus, the reach of the financial institution offering the promotion, and the steps you need to take to earn the bonus money.

Key takeaways

• Bank promotions usually only apply to new customers.
• You are often required to maintain a certain balance amount for 30 to 90 days to receive the bonus.
• Some promotions require a special code to submit when you open a new account.
• To qualify for the bonus, the funds you deposit into your account must be new and not transferred from an affiliated bank.

Best bank promotions without direct deposit

• Citibank
• Huntington Bank
• U.S. Bank
• Wells Fargo
• PNC
• Bank of America

Best bank promotions without direct deposit comparison

Bank	Account	Bonus	Expiration date
Citibank	Cit Priority	$200, $500, $1,000, $1,500, or $2,000	7/23/2023
Citibank	Citigold	$200, $500, $1,000, $1,500, or $2,000	7/23/2023
Huntington Bank	Platinum Perks Checking	$600	10/7/2023
US Bank	Business Checking	$500, $750	6/30/2023
Wells Fargo	Way2Save savings account	$525	6/27/2023
Wells Fargo	Premier account	$2,500	7/1/2023
PNC	Business Checking or Business Checking Plus	$200	6/30/2023
PNC	Treasury Enterprise Plan or Analysis Business Checking	$500	6/30/2023
Bank of America	Business Advantage	$200	12/31/2023

Citibank

Citi Priority checking account bonus — up to $2,000

This bank offers a bonus that’s only for new Citi Priority checking account customers (no other Citibank checking account in the last 180 days). Checking accounts must be opened via phone or online using a residential/home (not mailing) address. U.S. residents must submit a valid IRS Form W-9, and foreign individuals must furnish a valid IRS Form W-8BEN to open the account. It must be opened by July 23, 2023.

To qualify for a Citi Priority checking account, you must maintain a combined average monthly balance of $30,000 or more in eligible linked deposit, retirement, and investment accounts.

You must enroll in the cash bonus offer the same day you open a new Citi Priority checking account and deposit “new-to-Citibank” funds within 20 days of opening your account.

The balance on the 20th day after opening your bank account (the 30th day for accounts opened over the phone) determines your bonus, and you need to maintain at least a $10,000 balance every day in the account for an additional 60 days starting on the 21st day.

To get the checking account bonus determined on the 20th day, your account balance can’t drop under the amount in your account on that day for 60 days. Otherwise, your reward will decrease. For example, if your account has $200,000 on the 20th day but drops to $150,000 even for one day during the 60 days, your bonus drops from $1,500 to $1,000.

You can’t use a Citi Accelerate savings account or Citi savings account to maintain your balance.

Check out the Citi Priority offer.

Minimum deposit and balance	Bonus	Expiration date
$10,000 - $29,999	$200	7/23/2023
$30,000 - $74,999	$500	7/23/2023
$75,000 - $199,999	$1,000	7/23/2023
$200,000 - $299,999	$1,500	7/23/2023
$300,000 or more	$2,000	7/23/2023

Citigold checking account bonus — up to $2,000

This bonus is for new Citigold checking account customers only (no other Citibank checking account in the last 180 days). To qualify for a Citigold checking account, you must maintain a combined average monthly balance of $200,000 or more in eligible linked deposit, retirement, and investment accounts.

You must enroll in the cash bonus offer the same day you open a new Citigold Checking Account, and checking accounts must be opened via phone or online using a residential/home (not mailing) address. To open an account, U.S. residents must submit a valid IRS Form W-9 and foreign individuals must furnish a valid IRS Form W-8BEN.

You’ll need to deposit “new-to-Citibank” funds within 20 days of opening your account, and the balance on the 20th day after opening your account (the 30th day for accounts opened over the phone) determines your bonus. You’ll need to maintain at least a $10,000 balance daily in the account for an additional 60 days starting on the 21st day.

Citibank also has minimum balance requirements for this bonus. To get the bonus amount that Citibank determined on the 20th day, your balance can’t drop into a lower bonus level for 60 days, otherwise, your reward will decrease. For example, if your account has $200,000 on the 20th day but drops to $150,000 even for one day during the 60 days, your bonus drops from $1,500 to $1,000.

You can’t use a Citi Accelerate Savings Account or Citi Savings Account to maintain your balance.

Check out the Citigold offer.

Minimum deposit and balance	Bonus	Expiration date
$10,000 - $29,999	$200	7/23/2023
$30,000 - $74,999	$500	7/23/2023
$75,000 - $199,999	$1,000	7/23/2023
$200,000 - $299,999	$1,500	7/23/2023
$300,000 or more	$2,000	7/23/2023

Huntington Bank

Platinum Perks Checking bonus — $600

This bonus is only available for new personal checking customers. To qualify, you must open a new, qualifying Huntington Platinum Perks Checking account by October 7, 2023. You also need to deposit at least $25,000 within 90 days of opening your checking account and keep your checking account open for at least 90 days.

Money deposited or transferred can’t be from any other Huntington account (except maturing personal CDs). This bonus can’t be used in combination with other consumer checking offers.

To qualify, you must reside in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin.

Check out the Platinum Perks offer.

Minimum deposit and balance	Bonus	Expiration date
$25,000	$600	10/7/2023

U.S. Bank

Business Checking bonus — up to $750

Businesses can always use more funding. For this bonus, open a new U.S. Bank Silver, Gold, Gold with Interest, or Platinum Business Checking account by June 30, 2023, using promo code Q2BUS23. You will need to deposit new money within 30 days of opening the new checking account and maintain your minimum balance for 60 days after the account opening.

You’ll also need to enroll in U.S. Bank Online Banking or the U.S. Bank Mobile App within 60 days of account opening.

There’s a limit of one Business Checking bonus per business, and the money deposited can’t be funds held by U.S. Bank or its affiliates.

Check out the business checking offer.

Minimum deposit and balance	Bonus	Expiration date
$5,000	$500	6/30/2023
$15,000	$750	6/30/2023

Wells Fargo

Way2Save Savings account bonus — $525

This bonus is only available for new savings customers. To get it, you must open a new Way2Save Savings account with at least $25 by June 27, 2023. You’ll also need to provide a bonus offer code when opening a new account which you can receive via email before opening an account.

To qualify for the bonus, you must deposit $25,000 or more in new money within 30 days of opening an account and maintain a balance of at least $25,000 for 90 days after opening an account.

You must have a valid U.S. Taxpayer Identification Number, such as a Social Security number or Employer Identification Number, and complete a W-9 form for the offer to receive the bonus.

Check out the savings offer.

Minimum deposit and balance	Bonus	Expiration date
$25,000	$525	6/27/2023

Premier account bonus — $2,500

This offer is available for new or existing customers upgrading to a Wells Fargo Premier Checking account. To qualify, you’ll need to open a Wells Fargo Premier Checking account with at least $25 by July 1, 2023, with an offer code, and then deposit $250,000 or more in new money to qualifying linked accounts within 45 days.

You’ll also need to maintain a balance of at least $250,000 for 90 days after opening the account. As with the Way2Save bonus, you must have a valid U.S. Taxpayer Identification Number.

Additionally, Wells Fargo employees aren’t eligible for the bonus, and you aren’t eligible if you’ve received a bonus for opening a Premier Checking account within the past 12 months.

Learn more about the Premier Checking offer.

Minimum deposit and balance	Bonus	Expiration date
$250,000	$2,500	7/1/2023

PNC

Business Checking or Business Checking Plus bonus — $200

This bonus is only for new PNC business checking accounts and businesses must have an annual revenue of less than $5 million.

To qualify for the bonus, an average ledger balance of $5,000 must be maintained for the first three statement cycles, and you need to make at least 20 qualifying PNC Visa Business Debit Card purchases within the first three statement cycles.

Only business checking accounts with monthly statements are eligible. New accounts aren’t eligible if the signer has signing authority on an existing PNC Bank business checking account, has closed an account within the past 90 days, or has received a promotional premium in the past 12 months.

Learn more about this business checking offer.

Minimum deposit and balance	Bonus	Expiration date
$5,000	$200	6/30/2023

Treasury Enterprise Plan or Analysis Business Checking bonus — $500

As with the other PNC business checking promotion, only business checking accounts are eligible, and businesses must have an annual revenue of less than $5 million.

To qualify for the bonus, an average ledger balance of $30,000 must be maintained for the first three statement cycles.

Only business checking accounts with monthly statements are eligible. New accounts also aren’t eligible if the signer has signing authority on an existing PNC Bank business checking account, has closed an account within 90 days, or has received a promotional premium in the past 12 months.

Check out this business checking offer.

Minimum deposit and balance	Bonus	Expiration date
$30,000	$500	6/30/2023

Bank of America

Business Advantage bonus — $200

To qualify, you need to open a new business checking account by December 31, 2023, and deposit $5,000 or more of new money within 30 days of opening an account. In other words, deposited funds can’t come from any existing account with Bank of America or Merrill.

Then, beginning on the 31st day, maintain an average balance of $5,000 for 60 days.

This offer is only available for applicants who apply for a new account online, and you aren’t eligible if you were the owner or signer for a Bank of America Business Advantage checking account within the past 12 months.

Learn more about the Business Advantage bonus offer.

Minimum deposit and balance	Bonus	Expiration date
$5,000	$200	12/31/2023

How to choose the best bank promotions without direct deposit

When trying to find the best bank bonuses that don’t require direct deposit, there are several important factors to consider. Those factors include:

• Size of the bonus
• Minimum opening deposit required for the account
• The minimum balance required to receive a bonus
• How long must you maintain the minimum balance
• Whether there’s a monthly maintenance fee
• When the bonus is paid
• Type of account (checking, savings, money market account, etc.)
• Whether the account is paying interest
• Annual percentage yield (APY) if it’s an interest-bearing account
• Whether there are other qualifying activities you need to complete, like a certain number of debit card transactions

Most bank promotions without a direct deposit requirement are only offered on new accounts, and the money deposited into the account must be new to that bank. For example, if you use funds from your Bank of America account to open a new Bank of America Business Advantage account, you’re ineligible to receive the bonus.

Be sure to read the fine print of any bonus and note any enrollment requirements, like presenting a coupon or code to qualify.

You’ll also want to choose a bank that’s convenient for you and secure. Look for a Member FDIC symbol on the website to confirm it’s FDIC insured.

FAQ

Best banks promotions without direct deposit: bottom line

Not using direct deposit doesn’t exclude you from all promotions where you can earn bonus money by opening a new account. There are still several banks that provide promotions to customers without direct deposit.

That said, there are other considerations to choosing a bank than just promotions. Monthly service fees, overdraft fees, ATM access for cash withdrawals, interest rates, and more should also factor into your decision when choosing a new bank. Check out our list of the best checking accounts for our overall picks, and if you’re looking to maximize interest, consider opening a high-yield savings account.

Methodology

The companies we chose for our list offered a promotion that didn’t require a direct deposit at the time of writing. We did not review all companies in the market. When evaluating these companies, we considered factors such as the promotion size, the steps involved in getting the promotion, and the reach of the bank or credit union.