Looking for ways to get $500? Discover these fantastic bank bonus offers that let you score extra cash by opening a new checking account.
Picture this: you open a checking account, fulfill a few requirements, and voila! A cool $500 finds its way into your wallet.
It's an irresistible offer that can put a spring in your finances, making banking a little more exciting.
Check out these banks that are practically giving away $500 checking bonuses.
Member FDIC
BMO Checking Accounts - Earn up to $600
Earn up to $600 with qualifying activities. Conditions Apply. BMO Bank N.A. Member FDIC
Get either a $250 or $500 cash bonus when you open a new checking account and complete qualifying activities between 9/10/24 and 10/31/24. Plus, get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities after opening your account online. Combine the cash bonus and the gift card to maximize your rewards.
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Expires 10/31/2024
What banks give $500 bonuses for checking accounts?
Here are some checking accounts to check out:
- Citi Checking:
$500 Bonus - Flushing Bank:
Personal Checking Account - $500 Bonus - Utah First Credit Union:
Personal Checking Account - Up to $500 Bonus - Fidelity Bank (PA):
Personal Checking and Savings Account - $500 - First Fidelity Bank:
Personal Checking and Savings Account - $500 Bonus - Clearview Federal Credit Union:
Personal Checking and Savings Account - Up to $500 Bonus - Elgin State Bank:
Personal Checking and Savings Account - $500 Bonus - :
Personal Checking and Savings Account - $500 Bonus - Wintrust Bank:
Personal Checking and Savings Account - $500 Bonus - Town Bank:
Personal Checking and Savings Account - Up to $500 Bonus - :
Personal Checking and Savings Account - Up to $500 Bonus - Arizona Central Credit Union:
Personal Checking Account - $500 Bonus - Texas Trust Credit Union:
Personal Checking Account - $500 Bonus - Banner Bank:
Personal Checking and Savings Account - $500 Bonus - Community Credit Union Florida:
Personal Checking and Savings Account - $500 Bonus - Community Financial Credit Union:
Personal Checking Account - $500 Bonus - SAFE Credit Union:
Personal Checking Account - $500 Bonus
Other Checking Account Bonus You May Like
Member FDIC
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
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Expires 10/16/2024
Member FDIC
Bank of America Advantage Banking - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 9/30/2024.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- Bank of America, N.A. Member FDIC.
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Expires 9/30/2024
Member FDIC
HSBC Premier - Earn Up to $2,500
Start an HSBC Premier relationship today. You'll enjoy premium banking with both local and global benefits and access to wealth solutions offered through HSBC Securities, (USA), Inc*.
You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities.
- Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
- Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
- Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements.
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Expires 11/22/2024
How to Get More Than $500 from Banks
Want more rewarding bonuses? See if you qualify for these bank offers with even larger incentives.
Member FDIC
HSBC Premier - Earn Up to $2,500
Start an HSBC Premier relationship today. You'll enjoy premium banking with both local and global benefits and access to wealth solutions offered through HSBC Securities, (USA), Inc*.
You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities.
- Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
- Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
- Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements.
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Expires 11/22/2024
- Minimum Deposit to Open:
- Balances of $100,000 in combined U.S. consumer and qualifying commercial U.S. Dollar deposit and investment accounts; OR
- Monthly recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account(s); OR
- Any HSBC U.S. residential mortgage loan serviced by HSBC. Home Equity products, loans that are in foreclosure or bankruptcy, and loans for which servicing rights have been transferred are not included.
- Consumers who maintain Private Bank status
Chase Private Client Checking℠ - Up to $3,000 Bonus
- You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
- Speak with a Private Client Banker to open your Chase Private Client Checking℠ account today. Schedule your meeting at your nearest branch or over the phone.
- Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker who is ready to help you.
Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000. - No ATM fees worldwide.
- No Chase fee on incoming or outgoing wire transfers.
- Enjoy higher limits on Chase Private Client debit card purchases and ATM withdrawals, as well as higher Zelle® and Chase QuickDeposit℠ limits.
- Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.
Get Upgrade Code | Read Review |
Expires 10/16/2024
Member FDIC
BMO Checking Accounts - Earn up to $600
Earn up to $600 with qualifying activities. Conditions Apply. BMO Bank N.A. Member FDIC
Get either a $250 or $500 cash bonus when you open a new checking account and complete qualifying activities between 9/10/24 and 10/31/24. Plus, get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities after opening your account online. Combine the cash bonus and the gift card to maximize your rewards.
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Expires 10/31/2024
What Is a $500 Checking Account Bonus?
A $500 checking account bonus is offered by banks as an incentive to customers for opening a new checking account with them. You have to fulfill certain criteria to earn the bonus, such as:
- Receive a certain amount in qualifying direct deposits
- Deposit a certain amount within a specific timeframe
- Maintain a certain balance
A $500 bonus isn't a small amount, so there are typically higher requirements to earn it. For example, you may need to deposit several thousand dollars (or more) into the new checking account.
These conditions ensure customers engage with the bank's services and maintain an ongoing relationship.
What is a qualifying direct deposit?
Qualifying direct deposits usually include recurring paychecks from an employer, pension, or Social Security/government benefits. Transfer from another bank account or person-to-person transfers do not count.
What to Know About $500 Checking Bonuses
Getting $500 is a great opportunity to earn additional money. But here are some things you should know first:
Bonuses are intended for new customers.
You need to be a new customer to qualify for a checking account bonus. This usually means that you don't have an existing relationship with the bank or you don't have a checking account with them.
If you're an existing bank customer, you may still qualify for a bonus in a different account category. For example, you could apply for a business checking account promo even if you already have a personal checking account.
Requirements can be demanding.
If the bonus offer is $500, it will likely have high deposit requirements. Make sure you can fulfill them.
Eligibility may be limited.
The bonus may not be for everyone. Often banks only extend these bonuses to new customers. If it's a credit union, they usually serve specific states or regions.
It may be for a premium account.
Banks usually offer $500 bonuses on their premium checking accounts to incentivize higher-balance clients. Make sure this type of account fits your needs.
Switching banks is often not necessary.
Typically, these checking account bonuses do not require transferring your entire banking to the new bank. You can keep your existing accounts in other banks as long as you can fulfill the requirements for the bonus.
Can I close the account after receiving the bonus?
Many banks have terms that say you must keep your account open for a certain period after receiving the bonus. If you close it too early, the bank may take back the bonus. This is to prevent people from opening and closing accounts just for the bonus.
How Can I Get a $500 Checking Bonus?
- Review the terms and conditions of the $500 offer carefully. Make sure you are qualified to open.
- Open the checking account either online or in person based on the offer instructions.
- Fulfill requirements, i.e. putting in a minimum deposit, setting up direct deposit, and/or keeping the account open for a period.
- Wait for the bank to credit your bonus, which may take several days or weeks.
- Keep your account open for the specified duration to avoid forfeiting your bonus.
How are checking account bonuses paid out?
Your checking account bonus will usually be deposited straight into your new account after completing the qualifying requirements. This may take a few days to several weeks.
Things To Look For In a Checking Account
Aside from the cash bonus, it's important to consider if the checking account makes sense for your needs.
Here are some important factors to think about:
- Monthly fee & balance requirements
Some accounts may require a minimum balance to avoid a monthly fee or qualify for perks. This will help you determine if the account aligns with your financial situation. - Other fees
Also, look at if there are other fees, like for ATM withdrawals, overdrafts, and other transactions. - ATM network
Consider the size and reach of the bank's ATM network to ensure convenient access to cash withdrawals and other services. If you plan on depositing cash, consider a big national bank.- Chase Checking Coupons
- Bank of America Promotions
- Citi Bonus Offers
- Wells Fargo Promotions
- Chase Checking Coupons
- Mobile app features
A robust and user-friendly mobile app can make things easier. Make sure it has the functions you need, such as mobile check deposit, bill payment options, and other account management tools.
Configure account alerts to receive notifications about important events, such as large withdrawals, low balances, or incoming deposits. These can help you stay informed and take timely actions in your checking account when necessary.
FAQs
How to get $500 from Chase?
If you have a Chase checking account, you can earn up to $500 every calendar year with 10 successful referrals. You will be credited $50 for each referral, provided you and your referral's account remain open at the time of payout.
Will you earn two bonuses if you open a joint checking account?
No, banks and credit unions generally provide one bonus per account, regardless of whether it's an individual or joint account.
Are $500 bank bonuses a good deal?
Yes, a $500 bank bonus can be worth it if you can comfortably meet the requirements and the bank account aligns with your needs. Don't go for a bank bonus if it will stretch your finances or if the account will be too much hassle to maintain.
Do you have to pay taxes on checking bonuses?
Yes, checking account bonuses are typically classified as interest income and, therefore, are taxable. The bank may issue a Form 1099-INT, but even if they don't, you're required to report it on your tax return. [1][2]
Member FDIC
HSBC Premier - Earn Up to $2,500
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Expires 11/22/2024
Offer Details
Chase Private Client Checking℠ - Up to $3,000 Bonus
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Expires 10/16/2024
Offer Details
Member FDIC
Silver Business Checking Package - Up to $800 Bonus
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Expires 9/30/2024
Offer Details
Member FDIC
Gold Business Checking Package - Up to $800 Bonus
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Expires 9/30/2024
Offer Details
Member FDIC
Platinum Business Checking Package - Up to $800 Bonus
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Expires 9/30/2024
Offer Details
Member FDIC
BMO Checking Accounts - Earn up to $600
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Expires 10/31/2024
Offer Details
References
- ^ IRS. Interest Income, Retrieved 01/21/2024
- ^ IRS. About Form 1099-INT, Interest Income, Retrieved 01/21/2024
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