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Checking Account Bonuses

Checking Account Bonuses

Who doesn’t love free cash, especialy when it comes with little or no effort? More and more banks these days are offering lucrative sign up bonuses when you open a checking or savings account. I’m personally more inclined towards checking accounts as they have much less stringent requirements than savings, not to mention about their little or no maintenance fee.

In this post, I’m going to reveal secrets about some tips to get these sign up bonuses. Let’s start with Citi:

1) Citibank

When you open a Citigold checking account and make two bill payments, each in the two calendar months after account opening, you’ll get $250 as a bonus. You’ll have 60 days to complete the bill pays. You can also get another $250 ($500 total) if you deposit $50,000 in your account within the 60 days. However, if you don’t wait to avail the second offer, even the first one is quite lucrative.

I called Citi twice and asked if the bonus amount will be taken back if I close the account after getting the bonus, and both the times they said that the bonus will NOT be taken back. Also, I’m not sure if you’ll get a 1099 for this. Also, a good thing about this offer is that Citibank doesn’t pull your credit report so there won’t be any hard inquiry on your credit report. They only verify your identity using Chex System. Although there is a $30 monthly fee for this account but they don’t charge it for the first two months and you can always close the account after getting the bonus ;)

Hurry up because this offer is only valid till 02/28/2014.

Here’s the direct Link for the offer.

2) Chase

Chase is famous for its attractive high sign up bonuses. There are a lot of offers available in the market. I suggest buying a coupon code or voucher from ebay or a similar site. However, you need to read the fine prints thoroughly before buying these coupons. Mostly, the sellers have mentioned the fine prints in the description when they post an ad. I’ve seen and gotten up to $200 of discount codes at a price as low as $2.

Sign up bonuses from Chase usually have a requirement for a monthly direct deposit of $500. Also, in order to avoid the monthly fee, you either have to have a direct deposit or a minimum balance of $1,500. The good news is, there is a technique for the direct deposit in order to get the sign up bonus and to avoid the monthly fee. If you have a PayPal account, you can transfer money from your PayPal account to your Chase checking account. Fortunately, Chase considers it as a direct deposit. You can then withdraw the cash from your checking account through ATM or check. Like Citibank, Chase does not pull your credit report and only verify your identity using Chex System.
These vouchers/coupons are also available in branches so before going there, you can just give your local branch a call to ask if they have one available.

3) Capital One

Open a 360 Checking account at Capital One and after making 3 debit card purchases within 45 days of account opening, $50 bonus will automatically be deposited into your account.

Capital One 360 is a great account to open because they don’t have any monthly maintenance fee. The only disadvantage to me about this account is that they pull your credit. However, if you are not too concerned about getting a hard inquiry on your credit report, go ahead and avail this offer.

I have a Sharebuilder brokerage account with Capital Bank and if you have a Capital One 360 account, you can get ACH deposits transferred from your checking account to your brokerage account right away. Normally ACH deposits take 2 to 4 days to transfer.
Here’s the direct Link for the offer.

Conclusion

The offers listed above are nationwide offers. There are usually a lot of local banks and credit union offers available in your states. All you need to do is some research and you can easily pocket a decent amount of money with little effort.

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