Best Bank Promotions That Don't Require Direct Deposit In December 2024

Banks often offer promotions that pay you to open a new account. However, there’s usually a catch — to take advantage of these offers, you often need to have a certain amount of money directly deposited into your account.

I’ve tracked down some of the best bank promotions that don’t require direct deposit for anyone who doesn’t receive a paycheck this way or doesn’t want to route their money to a new account. For each of these, I evaluated the amount of the bank bonus, the reach of the financial institution offering the promotion, and the steps you need to take to qualify for the promotion.

Each account caters to a different audience. For example, you’ll find accounts with high APYs and some that don’t pay interest. Explore some of the top promotions currently available.

Featured checking accounts

How we evaluate products

The banks chosen for this list were carefully selected based on many factors, including:

• Wide availability: The banks on this list cater to a large audience, and some options will appeal to those just starting, while others will appeal more to people farther along in their financial journeys. All can be opened online.
• Minimum deposit requirements: Each bank has different minimum requirements for the opening deposit, and this list contains products with low and high requirements to suit many different needs.
• Ongoing requirements: Some banks have long-term requirements, such as maintaining a specific balance or completing a certain number of transactions. These are weighed against the bonuses available to help you make an informed decision about whether the requirements are worth the promotion.

Best bank promotions without direct deposit

• HSBC
• TD Bank
• Chase Bank
• Alliant Credit Union
• Chase Business Complete Checking

Bank promos without direct deposit comparison

Bank	Bonus	Expiration date
HSBC Premier Relationship Checking Account	$1,500 or $2,500	1/2/2025
TD Signature Savings and TD Simple Savings	$200	3/31/2025
Chase Secure Banking	$100	1/22/2025
Alliant Credit Union The Ultimate Opportunity Savings Account	$100	12/31/2024
Chase Business Complete Checking	$300	01/16/2025

HSBC Bank

Premier Relationship Checking Account — $1,500 or $2,500

Expires 1/2/2025

If you’re looking for a checking account for a large balance and one of the most rewarding bank promotions out there, the HSBC Premier Relationship Checking Account might be right for you. You’ll need a deposit of at least $100,000 to qualify for a sky-high bonus of up to $2,500. Specifically, you’ll get $1,500 for $100,000 to $249,999 or $2,500 for deposits of $250,000+.

To qualify for the bonus, you must:

• Deposit at least $100,000 within 20 days of opening the account.
• Maintain the balance for three consecutive months.

This is a super-premium checking account that you have to qualify just to open, and a lot of people won’t meet the requirements. To be eligible, you need one of the following:

• $100,000 or more in HSBC checking or investment accounts
• Direct deposit of at least $5,000 from a third-party
• An HSBC mortgage

You’ll pay a $50 monthly fee if you don't meet these.

I recommend this account to individuals who travel often and deal with foreign currency. HSBC is a leader in global transfers and often one of the best banks for foreign nationals. However, there are better banks for high-net-worth individuals out there if you’re interested in perks that are less global and more specific to everyday banking.

Open an account.

TD Bank

TD Signature Savings and TD Simple Savings — $200

Expires 3/31/2025

Most bank promotions are available for checking accounts, but some banks, like TD Bank, offer them on savings accounts, too. In fact, TD has bonuses for two of its savings accounts. TD Signature Savings and TD Simple Savings require a $10,000 deposit to earn a $200 bonus.

To qualify for the bonus, you must:

• Deposit $10,000+ within 20 days of opening the account.
• Maintain the balance for 90 additional days.

Both accounts include money-saving features I like to see in a savings account, such as overdraft protection and waived fees for incoming wire transfers.

However, these aren’t free, and they aren't even especially competitive accounts. You’ll pay $15 for TD Signature Savings and $5 a month for Simple Savings, and the interest rates are really poor unless you’ve got six figures to deposit. Simple Savings earns just 0.01% (as of 12/16/24) APY, and Signature Savings earns a standard rate of 0.01% to 0.05% and bump-rate APY up to 3.70% (as of 12/16/24) with qualifying linked accounts and a balance of at least $100,000. For comparison, some of the best high-yield savings accounts have no minimums and beat this rate.

Open an account.

Chase

Secure Banking Checking — $100

Expires 01/22/2025

If you’re looking for a checking account with no minimum opening deposit requirement, check out the Chase Secure Banking account, which frequently offers sign-up promotions. You must make 10 qualifying transactions in 60 days to earn the bonus. Qualifying transactions include:

• Transferring funds with Zelle
• Making purchases with your debit card
• Receiving ACH credits
• Using online bill pay
• Using Chase QuickDeposit

To get the bonus, you must:

1. Apply for a Chase Secure Banking checking account online or enter your email address to receive a physical coupon and take this to your local Chase branch.
2. If approved, make 10 qualifying transactions within 60 days of enrollment.
3. Your bonus will appear in your account within 15 days of completing the qualifying activities.

Honestly, this Chase Bank promotion is probably the easiest to qualify for on our list since all you need to do is open an account and make enough qualifying transactions, and multiple types of activity count. But a monthly fee for such a stripped-down bank account is annoying, and the best free checking accounts offer far more ongoing perks than this one will after you’ve earned the bonus.

Open an account.

Alliant Credit Union

Ultimate Opportunity Savings — $100

Expires 12/31/24

If you want help saving, consider the Alliant Ultimate Opportunity Savings Account. While the bonus is only $100, lower than other options on this page, it’ll benefit you more in the long run by encouraging you to make a habit of saving. You’ll only get paid if you deposit at least $100 in your savings account for 12 consecutive months.

This account also earns a decent 3.10% (as of 10/24/24) APY and has no monthly fees when you enroll in digital statements.

To qualify for the bonus, you must:

• Open a new Ultimate Opportunity Savings Account.
• Transfer your first $100 within 30 days of opening the account.
• Deposit at least $100 per month for 12 consecutive months.

In my opinion, it’s better to start small than not at all, and this account provides a little motivation to keep going. And don’t let the fact that this is a credit union stop you from opening an account. We’ll always recommend Alliant as one of the best credit unions anyone can join because it offers a variety of accounts with few pesky banking fees and great ATM access.

Open an account.

Chase

Business Complete Checking

Expires 01/16/2025

Having a separate business checking account is crucial if you own a small business. Chase will pay you a $300 bonus for opening a new Business Complete Checking account and depositing at least $2,000 within 30 days. You must also maintain that balance for 60 days.

The monthly service fee is somewhat low for a business bank account at $15, and you can waive the fee by keeping a $2,000 average daily balance or linking another JP Mortgage checking account. The account also includes perks such as:

• Accepting major credit cards with Chase QuickAccept
• Same-day deposits from card payments
• Unlimited ATM transactions
• Up to 20 paper or teller transactions
• Up to $5,000 in cash deposits monthly

Because of these perks, I recommend this account for small businesses that handle a lot of cash transactions, and it’s not a bad option for businesses that rely on POS systems (like retailers and service businesses).

To get the bonus, you must:

• Deposit and maintain a $2,000 balance for 60 days.
• Complete five transactions, including debit card purchases, accepting credit card payments using Chase QuickAccept, ACH credits, wires, or using Chase Online Bill Pay, within 90 days of offer enrollment.
• Your bonus will appear in your account within 15 days of completing the qualifying activities.

Open an account.

How to choose the best bank promotions without direct deposit

It’s never a good idea to open any type of financial account — whether that’s a bank account, a credit card, or something else — just to get a bonus. You should always consider the ongoing perks and benefits of an account and make sure these align with your long-term goals (not just your short-term goal of getting a bit of extra money, tempting as this can be).

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

• Size of the bonus
• Minimum opening deposit required for the new bank account
• The minimum balance required to receive a bonus
• How long you must maintain the minimum balance
• Whether there’s a monthly maintenance fee
• When you receive the bonus
• The type of account (checking, savings, money market account, etc.)
• Whether the account pays interest and the annual percentage yield (APY) if it does
• Whether there are other qualifying activities you need to complete, like a certain number of debit card transactions
• How you’ll be able to bank moving forward (in person, online, mobile app, etc.)

Most bank promotions without a direct deposit requirement are only offered on new accounts for money that’s new to that bank. For example, you won't receive a bonus if you use funds from a TD Bank checking account to open a new TD Bank savings account. Existing customers usually aren’t eligible.

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

FAQs

Other ways to get cash from a bank

Bank bonuses are a great way to get “free money” from a bank, but if you don’t want to jump through hoops and scramble to meet requirements after signing up for a new account, consider accounts that offer ongoing rewards. The Discover Cashback Debit account is one of our favorites because it’s easy to earn no matter how you use it. And unlike many bank accounts with promotions, it doesn’t have high monthly fees that’ll kick in if you drop below a balance minimum or activity threshold.

Discover Cashback Debit is a free online checking account from Discover (which you probably know for its many credit cards). The account includes a debit card that pays 1.00% back on up to $3,000 in monthly spending— $30 a month and $360 a year — without balance minimums or direct deposit requirements.

This is better than a one-time bonus because you’ll keep getting paid. The account has no fees, offers early paychecks, and provides free access to 60,000+ ATMs.

Read our full Discover Checking Review.

Bottom line

Not using direct deposit doesn’t exclude you from all promotions where you can earn bonus money by opening a new account. Several institutions provide promotions to customers without this requirement, including HSBC, TD Bank, Chase, and Alliant.

That said, there are other considerations to keep in mind when choosing a bank. Monthly service fees and other fees, ATM access, interest rates, and more should also factor into your decision. As a rule, no account is worth opening just for a bonus.