Many money savvy consumers have learned that they can get great deals on bank accounts and not only get higher interest rates but also make money just for opening an account. However, you need to be careful and read the fine print.
In some cases what looks like a great deal is really not that great a deal or it has a lot of requirements and that makes it very hard to actually qualify for the bonus that is being offered.
If you really want to score the best offers, then check out chase.com which rank very high on this year’s list of top new account offers.
A Premier Reward
The Chase Premier Plus Checking promotion is one of the best offers that you will find, with a bonus payment of $300. All that you need to do to qualify for the reward is deposit only $25 into the account and set up some type of direct deposit within the first 60 days of having the account. The direct deposit can be a paycheck that is electronically deposited, a government benefit check or a pension check. Once you complete these few requirements and fill out the online form, you should have your bonus deposited into your account within ten days. The account does have a monthly $25 service fee attached to it but you can easily have that waived by having a cumulative daily balance of $15,000. This can be a combination of checking, savings or other account balances. Another way to get the fee waived is to set up automatic payments to your qualifying Chase mortgage. With bank branches or ATM’s in over 25 states, this is an awesome way to have access to your money and also earn an easy $300.
Totally Great Bonus
The Chase Total Checking promotion offers you a free $200 deposit when you open a new account, deposit only $25 and set up a direct deposit all within 60 days. Again, complete these easy steps and the online form and you will get your $200 within 10 days. This account only has a $12 service fee and that can be waived if you have a daily balance of $1,500 or if your monthly direct deposits total more than $500. You can also link an investment account with a balance of $5,000 or more and get the service fee waived. And again you will have access to all of the banks and ATM’s in over half of the states in the country.
Free Account and a Bonus
If you are looking for just a very basic account but you want to get a bonus that is also possible with the Chase Savings SM promotion. All that you will need to do is deposit at least $10,000 in a new savings account and maintain that balance for more than 90 days and you will get a $150 bonus deposited into your savings account. This account has no service fees and no others hoops that you need to jump through. It is just a simple savings account but it pays an awesome bonus.
An Option at TD
TD Bank is also offering a few promotions that have decent rewards. The first is the Premier account which you need to apply for online. This account requires you to complete direct deposits totaling more than $2,500 within 60 days. The account also carries a $25 monthly service fee which you can request to have waived if you maintain a daily balance of $2,500. The bonus reward for this account is $300. If you are looking for a more basic account but you still would like to get a bonus for opening the new account then check out the new TD Convenience account. This account has a lower direct deposit total of only $500 in the first 60 days and the monthly service fee is only $15 per month. You are also eligible to have the service fee waived if you maintain a daily balance of just $100 in your account.
Citibank’s Version of a Promotion
Citibank has a couple of promotions for new accounts in 2017 but they are not really very appealing to many consumers. The first is the Citi Priority Account Package and it requires a deposit of at least $50,000 which is a large amount for most consumers to deposit and also that you maintain that balance for more than 60 days. You must also sign up for their paperless statement program within 30 days of opening the account. If you meet all of these criteria then you will get a bonus deposit of $500 but it could take up to 90 days to receive it. The other promo is for the Citibank Account Package. This requires a more manageable deposit of $15,000 which must remain in the account for over 60 days. This account also requires the election of the paperless statement within 30 days of the account origination. Your bonus for this account is $300 and again, it might be 90 days before you get the bonus deposited into your account.
You Bottom Line
It is great to get a bonus for choosing to open an account with a specific bank, but it is not that great if they require a huge deposit or demand that you leave the money in place for a long period of time. It is only a real bonus if the qualifications are reasonable and the reward is attainable to the average consumer. After a lengthy review of many accounts and their 2017 promos, the Chase account promotion turns out to be the best option for most consumers. The terms are easy to meet and the reward is a nice amount for the money that you are depositing. In addition, it is nice that the bonus money is awarded to you quickly. If you are looking for a new bank and new accounts that will carry a nice bonus then the 2017 Chase account promotions are exactly what you need.