Updated 8/22
Banks offer among the highest signup and referral bonuses found in Referral World! I created this featured post to highlight these bank bonuses and provide information and tips to help you trigger them. I've organized the banks into three categories for your convenience:
Banks with no Deposit or Spend Requirement
Banks with a Spend Requirement
Banks with a Minimum or Direct Deposit Requirement
FAQ:
Q: Can I sign up for more than one bank?
A: YES! Of course, some factors influence how many you will be approved for, but generally, you can sign up for more than one bank.
Q: Do banks do a hard pull on my credit report?
A: For the most part, no. Most banks don't use your credit report when you apply for a bank account. They use a separate, internal consumer banking report showing your banking history. Sometimes, a bank will use ChexSystems, which can deny you an account if it deems you to have too many accounts or considers you too big a risk for them to take on. In certain circumstances, a bank might do a soft pull on your credit report to view your open and closed credit accounts, loans, and details about your payment history. The only time you'll typically ever see a hard pull from a bank is if you apply for a loan or line of credit through them.
Q: Can I get around the direct deposit requirement?
A: It depends on the bank. Some banks have closed previously existing loopholes, but there are multiple ways to trigger many of these direct deposit bonuses, such as:
Gig or delivery jobs, such as DoorDash, Uber Eats, etc. Connecting your bank to these gig apps will often trigger the direct deposit bonus as you get paid from the gig apps.
If you receive direct deposits from your employer, you may be able to split your direct deposit into designated portions for more than one bank. See this example of a multiple direct deposit form. Let's say you wanted to trigger MoneyLion's $50 direct deposit bonus, which requires a $100 direct deposit. Both the Current and Found banking apps have been confirmed to trigger MoneyLion's deposit bonus via bank transfer. You can also submit a direct deposit form to designate that $100 goes to MoneyLion, and the remainder of your paycheck goes to your current bank. This process is even easier if your employer uses Paychex Flex or similar payroll services that allow you to control the direct deposit destinations yourself! You could, in theory, do this each time you sign up for a new bank with a direct deposit requirement.
Sometimes, an ACH transfer from another bank will trigger a bank's direct deposit requirement. The Found app is an option for triggering bank deposit bonuses by transferring from Found to the target bank.
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Banks with no Deposit or Spend Requirements:
Chase Bank [Increased Promo; US] - https://www.referralworldnews.com/go/chase - Chase is offering easy $50 referral bonuses just by signing up and referring! No deposit or spend is needed to earn these bonuses; simply refer! You get your referral link immediately after opening a checking account, and you'll get $50 for each person using your link and opening a checking account! Bonuses typically hit within 1-3 business days, but can take up to 30 days according to Chase's terms. You can refer up to 10 people per calendar year ($500 in earnings yearly). Chase also offers a $400 signup bonus with a qualifying deposit. There's also a new $125 teen account signup bonus opportunity. See my featured post here for more information.
MoneyLion [US] - https://www.referralworldnews.com/go/moneylion - code $55BONUS - Get a quick $5 when you sign up and open a free RoarMoney Checking Account. No deposit is required; the bonuses typically post NIGHTLY (7 days a week)! Comes with a virtual card. Get another $50 bonus when you receive a qualifying $100+ direct deposit within 60 days (you can use Current or Found to trigger). Get up to $55 unlimited referral bonuses! I received over $2.7K this year and over $47K in total! More info and pay proof here.
Banks with a Spend Requirement:
Boeing Employees Credit Union (BECU) [Increased Promo; Ends 8/31; US] - https://www.referralworldnews.com/becu -
Earn $100 when you join BECU and open a savings and checking account. And through 8/31, earn increased $190 referral bonuses in celebration of BECU's 90th Anniversary.Sign up online, by phone at 206-439-5700, or at a BECU Branch and keep your account. opened for 90 days. You must use both these codes when signing up:
promo code: REFER90TH
my unique referral code: 1412508
Complete ten required transactions within the first 30 days of joining BECU, including:
Make purchases using your BECU debit or credit card.
Write paper or electronic checks.
Make withdrawals or deposits using your BECU Checking Account.
Keep your accounts open for at least 120 days.
This deal is targeted toward WA, ID, OR members but is available nationwide if you make a $6 recurring donation - you can cancel it before you are billed a second time - or a one-time $10 donation at https://www.kexp.org/donate (KEXP is a nonprofit arts organization serving music lovers through in-person, broadcast, and online programming). More info here.
Cash App - https://www.referralworldnews.com/go/cashapp - Get an INSTANT $5 bonus when you sign up for Cash App using my referral link and enter referral code NDXTLPJ in the app once you've downloaded the app and signed up. Once your account is set up, you'll need to pay somebody $5, and you'll instantly get an instant $5 bonus. More info here.
DCU [aka Digital Credit Union; US] - https://www.referralworldnews.com/go/dcu - $20 signup bonus! Unlimited $10 referral bonuses!
Note that this is technically a Massachusetts-only promotion, but you will still qualify by making a one-time $10 donation to fund education during the application process! Last time the promo was this good, I earned $2,100 from my signup and referral bonuses. Instructions to easily trigger the bonus and more info here.
Klarna [Increased Promos 6/15; Worldwide] - https://www.referralworldnews.com/go/klarna - $20 signup bonus when you sign up for the Klarna card and make three $5+ purchases within 30 days.
$20Increased $60 referral bonuses as well (max 10 referrals, $600). More info here.PayPal [US]- https://www.referralworldnews.com/go/paypal - Get $10 when you sign up and spend or send $5 within 30 days. Get another $10 for each person you refer, up to $100.
Wings Credit Union [US] - https://www.referralworldnews.com/go/wings - Get a $50 Visa® Reward Card when you open both a Share Savings and Everyday Checking account, enroll in eDocuments, and either complete one (1) direct deposit of $1,000+ OR complete five (5) debit card/credit/online/digital wallet transactions of $25 or more each (ATM transactions excluded; Cash App, PayPal, Venmo, P2P payments do NOT count.) Note that you'll need to deposit $5 into your savings account (requirement of all credit unions). More info here.
Banks with a Minimum or Direct Deposit Requirement
Ally Bank [New; US] - https://www.referralworldnews.com/ally - Brand new, EASY bank bonus opportunity. $100 signup bonus when you open a spending account and make a single qualifying deposit via direct deposit or, according to many, a push transfer from Current, Found, or Wise (other banks may work as well; YMMV). I triggered my bonus with just $10! $50 referral bonuses (up to $250 max per year). More info here.
Chase Bank [Increased Promo; US] - https://www.referralworldnews.com/go/chase - Chase is offering easy $50 referral bonuses just by signing up and referring! No deposit or spend is needed to earn these bonuses; simply refer! You get your referral link immediately after opening a checking account, and you'll get $50 for each person using your link and opening a checking account! Bonuses typically hit within 1-3 business days, but can take up to 30 days according to Chase's terms. You can refer up to 10 people per calendar year ($500 in earnings yearly). Chase also offers a $400 signup bonus with a qualifying deposit. There's also a new $125 teen account signup bonus opportunity. See my featured post here for more information.
Chime [US] - https://www.referralworldnews.com/go/chime - Get $100 when you receive your qualifying "direct deposit" of $200+ within the first 45 days of opening your new Chime Spending Account. US only. Direct deposit can be made through an ACH transfer from Chase or other popular banks. Get a $100-$300 referral bonus for each signup who completes these steps (10 referrals per calendar year. YMMV). More info here.
Current [US] - https://www.referralworldnews.com/go/current - Code JOHNM363 -
$50Increased $100 signup bonus when you receive a qualifying ACH/direct deposit of $200+ in your first 45 days.$50$100 referral bonuses (up to $1K bonuses per calendar year). More info here. Current is one of two known banks that can trigger MoneyLion's $50 deposit bonus and Ally's $100 deposit bonus! Email me if you're interested in how to trigger the direct deposit bonus! More info here.MoneyLion [US] - https://www.referralworldnews.com/go/moneylion - code $55BONUS - Get a quick $5 when you sign up and open a free RoarMoney Checking Account. No deposit is required; the bonuses typically post NIGHTLY (7 days a week)! Comes with a virtual card. Get another $50 bonus when you receive a qualifying $100+ direct deposit within 60 days (you can use Current or Found to trigger). Get up to $55 unlimited referral bonuses! I received over $2.7K this year and over $47K in total! More info and pay proof here.
OnePay Cash [New Promo; Ends 10/31; US] - https://www.referralworldnews.com/go/onepay - $50 signup bonus when you receive $500+ in qualifying deposits in a calendar month (direct deposits from an employer, gig/delivery driver payments, retirement payments, unemployment, Social Security, etc.). You may be able to trigger this with an ACH transfer from Current or Found (YMMV), along with Square Pay or PayPal business invoices (YMMV). You can also unlock the bonus by ending any calendar month with $5,000+ total balance. Through 10/31, get
$50increased $100 referral bonuses for each referral who uses your link and does the same (10 referral cap). Bonus paid within 1-2 business days and often same-day! More info here.Sofi Checking & Savings - https://www.referralworldnews.com/go/sofibank - $25+ signup bonus when you deposit $50 within 21 days. $75 referral bonuses! Note that you can currently sign up for more than one SoFi product and receive a signup bonus for each signup!
Stash [US] - https://www.referralworldnews.com/go/stash -
$20$30 when you join and add $5 or more to your personal investment or bank account from any source. $30 referral bonuses as well ($1K yearly cap). Stash frequently holds Stash StockParties, awarding members pieces of free stock! More info here.Upgrade [Promo extended; Ends 6/30; US] - https://www.referralworldnews.com/go/upgrade - Get a $50 welcome bonus when you sign up, open a new Boost Money Spend account, and set up direct deposit. To qualify, you must receive at least two eligible direct deposits of $200 or more each within 90 days of opening your account. The promotional window to open your account runs through 5/31. Once you trigger the deposit, you'll receive your bonus within 1-2 business days. $50 referral bonuses as well, up to 10 referrals max. More info here.
Wells Fargo [Ends 10/6; US] - https://www.referralworldnews.com/go/wellsfargo - $500 signup bonus for opening a new Everyday Checking account and getting $1,000 in qualifying deposits within 90 days, plus up to $100 more in Paze credits with the debit card! No referral bonus. More info here.
Wings Credit Union [US] - https://www.referralworldnews.com/go/wings - Get a $50 Visa® Reward Card when you open both a Share Savings and Everyday Checking account, enroll in eDocuments, and either complete one (1) direct deposit of $1,000+ OR complete five (5) debit card/credit/online/digital wallet transactions of $25 or more each (ATM transactions excluded; Cash App, PayPal, Venmo, P2P payments do NOT count.) Note that you'll need to deposit $5 into your savings account (requirement of all credit unions). More info here.
Wise [Worldwisde, formerly TransferWise] - https://www.referralworldnews.com/go/wise - Signup bonus: Fee-free transfer (up to $600)! $110 Referral Bonus when you refer three who do the same (note that only inter-currency transfers count towards the referral bonus. Same-currency transfers don't.
If you have questions about any of these bank bonuses, or if you have a great bank bonus you don't see on this list, email me and let me know!
Disclaimer: This blog is intended for entertainment purposes only. Do not rely on this blog to make decisions about your credit. You are responsible for your actions. The achievements described in this blog are the results of careful research, analysis of applicable terms/conditions, etc. You have the sole duty to exercise caution. No opinions expressed in this blog shall be construed to create any legal duty to you by any person/entity.
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