Your checking account is like the cardio portion of your finances. Of all the ways you use your money, this account is likely the one you use to get your paycheck, pay your bills, withdraw money from the ATM and so on. It makes sense to ensure your most active account is working in your favor.
Although moving bank accounts might rank up there with burpees and planks, it pays to make sure you’re using the checking account that best suits your needs. And if you’re shopping around for a new checking account, you could supercharge your cash on hand by choosing one that offers a bonus to new customers. We analyzed the available options to put together a list of our favorite checking account bonus currently available.
Keep in mind that to earn these bonuses, you’ll generally have to meet certain requirements, such as committing to direct deposits or carrying an average daily balance And, typically there are restrictions disqualifying existing or recent customers, too. Still, with cash bonuses like these, working those money moves can pay off.
Editor’s Picks: Best checking account bonuses of February 2026
Details accurate as of Jan. 5, 2026.
Find the best checking account bonus offer for you
PNC Virtual Wallet with Performance Select: Up to $400 bonus
PNC Bank: Virtual Wallet with Performance Select
| Max bonus amount | $400 |
| Direct deposit requirement | $5,000+ |
| Offer good through | January 5, 2025 |
at MoneyLion
- Year Founded: 1865
- Company Headquarters: Pittsburgh, PA
- CEO: Bill Demchak
Why we like this bonus
At the time of writing, the PNC Virtual Wallet with Performance Select account offers the most generous bonus featured in our top picks. We think savvy consumers looking for a new checking account will jump at the chance to earn $400 in their new account.
Like the SoFi offer featured later in this article, you’ll have to allocate $5,000 or more in qualifying direct deposits to your new PNC Bank account in order to earn the maximum welcome bonus of $400 —but PNC allows a full 60 days to do so.
What you should know
Once the qualifying activity is met, PNC Bank will issue the bonus within 60 to 90 days. During this waiting period, you’ll want to leave your $5,000 right where it sits. Otherwise, you’ll be charged a monthly maintenance fee of $25 .
Also, a caveat is that this offer may be limited depending on where you live; account disclosures state that the offer is “contingent on product availability and may vary based on…the ZIP code of your primary address.”
Offer details reviewed on Jan. 5, 2026.
Learn more: Read our full review of PNC Bank.
Fifth Third Momentum Checking: Up to $300
Fifth Third: Momentum Checking
| Max bonus amount | $300 |
| Direct deposit requirement | $500 + |
| Offer good through | January 7, 2026 |
at MoneyLion
- Year Founded: 1858
- Company Headquarters: Cincinnati, OH
- CEO: Tim Spence
Why we like this bonus
With a much lower direct deposit requirement and a longer time frame to complete it—$500 within 90 days—this $300 bonus offer from Fifth Third is likely more accessible to many consumers than those from SoFi or PNC Bank.
Plus, with payout occuring 10 business days after meeting requirements, this account offers one of the faster bonus timelines on our list.
Finally, there are no monthly fees or overdraft charges on this account, and you’re not required to keep a minimum deposit to leave it open.
What you should know
If you’re currently a primary or joint account owner on a Fifth Third checking account, or you were on an account that was closed in the past 13 months, you can’t get this bonus.
Also, if you’re someone who prefers to have physical bank branches available, know that Fifth Third only has locations in the following 11 states at the time of writing:
- Florida
- Georgia
- Illinois
- Indiana
- Kentucky
- Michigan
- North Carolina
- Ohio
- South Carolina
- Tennessee
- West Virginia
Offer details reviewed on Jan. 5, 2026.
SoFi Checking and Savings: $50 or $300 bonus
SoFi Checking & Savings
Member FDIC
| Max bonus amount | $50 or $300 * (depending on direct deposit amount) |
| Direct deposit requirement | $0 balance required to earn APY |
| Offer good through | Jan. 31, 2026 |
at SoFi
- Year Founded: 2011
- Company Headquarters: San Francisco, CA
- CEO: Anthony Noto
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults)and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Why we like this bonus
If you’re seeking an institution to store your money on an ongoing basis, rather than merely to earn a quick buck, we expect you’ll like pairing your checking account with a high-yield savings account at SoFi—offering a high APY of up to 3.30%2.
The bonus payout timeline is seven business days after the 25-day direct deposit bonus period (which begins when your first direct deposit arrives in the account) ends.
Earn an even higher APY for a limited time
New customers who open both a checking and saving account with SoFi, member FDIC—along with enrolling in SoFi Plus—by January 31, 2026 have an opportunity to earn a 4.00% annual percentage yield (APY) on their savings. This represents a 0.70% APY boost on top the standard 3.30% rate. The maximum time period for the boosted APY is six months. (Terms apply. Rates are variable and subject to change.)3
SoFi Plus is available at no extra cost for customers with eligible direct deposit until March 30, 2026. Otherwise, the cost of membership is $10 per month as of this writing.
Benefits for Plus members include a 10% boost on cash-back rewards earned with certain SoFi credit cards, a 1% match on recurring deposits to SoFi Invest (paid in rewards points) and unlimited one-on-one planning sessions from SoFi Wealth.
What you should know
Know that SoFi has some strict requirements to earn the maximum. Hopeful applicants must be able to direct deposit $5,000 from qualifying sources such as a paycheck or social security. On top of that, the deposits must hit the account fairly quickly: From the day the first direct deposit hits, you only have another 25 days to meet the $5,000 threshold. Applicants who can’t meet this threshold but still manage to direct deposit over $1,000 will get a paltry $50 reward.
Offer details reviewed on Jan. 5, 2026.
Chase Total Checking: Up to $300 bonus
Chase Bank: Chase Total Checking
| Max bonus amount | $300 |
| Direct deposit requirement | $500+ |
| Offer good through | January 21, 2026 |
at MoneyLion
- Year Founded: 1871
- Company Headquarters: New York City, NY
- CEO: Jamie Dimon
Why we like this bonus
If you’re looking for a quick and easy win, Chase Total Checking is a great option. All it takes is a $500 direct deposit, and you can earn $300—nearly doubling your money with very little effort. And with a 15-day payout timeline after qualifying, Chase doesn’t make you wait too long for your bonus, either.
What you should know
One factor you should keep a close eye on is the account’s minimum balance requirement: You’ll need to keep at least $1,500 in here to avoid a monthly fee.
Also, if you’re looking to maximize your earnings rather than just score a bonus immediately, bear in mind that Chase sometimes offers a bundled bonus of up to $900 for customers who open both a checking and a savings account.
Offer details reviewed on Jan. 5, 2026.
Learn more: Check out our full review of Chase Bank and our roundup of Chase CD rates
Capital One 360 Checking: Up to $250 bonus
Capital One: 360 Checking
| Max bonus amount | $250 |
| Direct deposit requirement | $1,000+ |
| Offer good through | Ongoing |
at MoneyLion
- Year Founded: 1994
- Company Headquarters: McLean, VA
- CEO: Richard Fairbank
Why we like this bonus
The Capital One 360 Checking offer is an ongoing deal that offers $250 to new customers. To earn the welcome bonus, set up at least two direct deposits of $500 or more to hit the account within 75 days of opening the account.
With a cumulative requirement of at least $1,000 deposited, this isn’t the easiest bonus on our list. But we like that it’s continually available to new customers and that the timeline to qualify is more than two months long.
What you should know
It can take up to 60 days for this bonus to hit your checking account. But, there are no monthly fees or minimum balance requirements with 360 Checking, so you can relocate your funds if necessary.
Offer details reviewed on Jan. 5, 2026.
Learn more: Check out our full review of Capital One 360 and our roundup of Capital One 360 CD rates.
Key facts about checking account bonuses
- The bonuses are usually only available for a limited time. These offers are meant to be promotional, not ongoing, so most of the time, checking account bonus offers will have an expiration date.
- To earn a bonus, you have to meet certain eligibility requirements. This can include receiving a certain number of direct deposits possibly for a certain amount each time, making a minimum opening deposit, maintaining a minimum balance, or any combination of these plus other actions. Make sure you understand what’s required to earn any new account bonus offer.
- You’ll owe taxes on the bonus amount. A bonus on your bank account is considered interest, which means you’ll receive FORM 1099-INT from the bank that issued your bonus and you’ll have to report on your taxes for that year.
- The fine print matters. Make sure you understand not just the requirements for earning the bonus but if there are any exclusions that might disqualify you from earning it. For example, some bonuses are only available for new customers of a bank. So if you have a different account with an institution that you are considering opening a checking account with, you may not qualify for any bonus being offered.
When is it a good idea to open a new account for a bonus?
If you’re in the market for a new checking account, it can only sweeten the deal if the one that’s a fit for your needs offers an account opening bonus. Having more than one checking account can also be useful if you want to allocate funds for different purposes, such as one for living expenses and one for other expenses.
How to choose the best checking account
The right checking account for you is not going to be the same as for someone else. Any bonus that comes with opening a new checking account is one of several factors to consider. Here’s what to look for when deciding on a new checking account.
- Fees: Checking accounts often come with fees running the gamut from monthly fees to fees for additional checks to overdraft fees. There are checking accounts that don’t charge monthly fees but there may be some trade-offs. For example online-only banks typically offer accounts with no monthly fees but you lose the ability to bank in person. It’s worthwhile to compare these potential costs bfore opening a new account.
- Access to your funds. Once you have your money in a new checking account, you want to be able to use it when you need to. Aside from paper checks, make sure you understand the ATM access that comes with your account. If you tend to make frequent cash withdrawals, an account with widespread ATM availability and low to no withdrawal fees or limits should be high on your list of must-haves.
- Minimum balance requirements: Some banks require a minimum daily balance or a minimum monthly deposit amount to keep the account active, or waive monthly fees. Make sure that you can meet these requirements for any account you’re considering.
- Overdraft protection: Think of overdraft protection as insurance, you may not think it’s important but it can save you a bundle if you need it. If your budget is closer to paycheck-to-paycheck then flush with cash, overdraft protection can prevent you from expensive mishaps like bouncing checks and pricey overdraft fees.
- APY: Although many checking accounts earn little to no interest on your deposit, there are a handful of high-yield checking accounts available. If you already have a high-yield savings account, earning interest on your checking account may not be a priority, but if you’re torn between two similar accounts, earning interest on your money is never a bad idea.
- Bonus offers: You shouldn’t open an account solely for a bonus offer, but it can sweeten the deal when choosing your next account.
Checking account alternatives
While getting a bonus on a new checking account is always a nice perk, a checking account isn’t ideal for every situation. For example, many checking accounts offer no or below average APYs, so if earning interest on your money is your primary goal in opening a new bank account, another type of account will suit you better. Here are some options to consider:
Checking accounts vs. savings accounts
While these are the two most common types of accounts the average depositor holds, there are significant differences between the two. Checking accounts allow for frequent withdrawals but generally come with very low interest rates. As of February 2025, the average APY on an interest-bearing checking account was 0.07% APY according to the Federal Deposit Insurance Corporation.
By contrast, savings accounts are best for depositing funds that you won’t need access to for a while. Many (but not all) savings accounts place a limit on the number of withdrawals you can make from the account each month, but in return you’re likely to earn higher interest rates. The average APY on a savings account as of February 2025 was 0.41% APY, according to data from the FDIC.
Checking accounts vs. money market accounts
Money market accounts are similar to checking accounts as they often come with debit cards or checkbooks, allowing you to withdraw funds easily when needed. However, unlike checking accounts, money market accounts, like savings accounts, may set limits on the number of withdrawals you can make per month. Additionally, money market accounts may have minimum balance requirements in order to open the account or earn at the highest APY rate.
A money market account may be the best fit for account holders who want to earn a higher APY and have some (but not necessarily unlimited) access to their funds. However, if you’re looking for an account that supports your everyday spending and plan to have a separate high-yield savings account for growing your money, a standard checking account might be a better option.
Checking accounts vs. certificates of deposit (CDs)
Certificates of deposit, or CDs, are another form of long-term deposit account. But unlike savings accounts, which are liquid and the funds can be added to or withdrawn at any time,, a CD “locks up” your funds for a defined period of time depending on the term length you choose. At the end of that time, the CD “matures” which means you get back your deposit plus the interest earned. A CD is not an option for financial transactions like automated savings or paying bills as it’s really a one-and-done approach. You open the account with a one-time deposit and those funds remain untouched until the CD reaches maturity.
Frequently asked questions (FAQs)
How do checking account bonuses work?
Some financial institutions offer checking account bonuses to incentivize new customers to open an account, typically for a limited amount of time. Bonuses are generally cash deposited directly into your account after meeting a minimum balance requirement or direct deposit threshold.
Do you pay taxes on bank account bonuses?
Yes, bank bonuses count as taxable income. The IRS considers bonuses taxable interest and will likely send you a Form 1099-INT reporting interest payments and/or tax-exempt interest of $10 or more.
Can I close a checking account after receiving a bonus?
Many banks require you to keep your account open for a certain length of time after receiving a bonus. Closing your account before you reach that threshold could mean paying an account closure fee or forfeiting your bonus.
Should I have both checking and savings accounts with the same bank?
Having all of your financial accounts under one roof can be convenient and make it easier to manage your finances, but it isn’t necessary. It may benefit you to hold different accounts with different institutions to take advantage of the best rates and fees for each account type.
Are checking accounts safe?
As long as you open a checking account with a financial institution that is FDIC-insured or NCUA-insured, your deposits are protected up to $250,000 per depositor, per account ownership category, in case of bank failure.
Is it important that a checking account has a high APY?
A high APY isn’t necessary; however, it can help you grow your checking account balance over time. If you hope to boost your balance through earnings on interest, opting for an account with a higher APY can help speed things along.
SoFi disclaimers
1:
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults)and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2:
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3 0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
