Banks and fintechs offer cash to win new customers — often $200–$675 for a single account. The terms are simple but they do have strings, so we list them honestly: what's required, who it suits, and what's taxable.
Terms verified Aug 2026; offers change often, so confirm on the official site before opening. Bonuses are 1099-taxable income. Disclosure: we may earn a referral fee from some of these companies when you open an account — it costs you nothing and never changes the offer.
Most bonuses need a minimum deposit, a qualifying direct deposit, or a balance held for 60–90 days. Miss the requirement and the bonus doesn't pay.
Bonuses are income, reported on a 1099. Set aside a slice or just treat it as earned money — not a gift from the bank.
Banks check ChexSystems, not just your credit. Opening several in a month can get you declined — pace yourself, and close with no fee where it's required.
Yes. Banks and fintechs pay cash to acquire new customers. The bonus is real cash deposited to your account after you meet the stated requirement, typically within 30–90 days.
Most require a minimum opening deposit or a qualifying direct deposit, and sometimes a minimum number of debit-card transactions or a minimum balance for a set period. Read each offer's terms before opening.
Yes. Bank signup bonuses are taxable income and are generally reported on a 1099-INT or 1099-MISC. Treat the bonus as income, not a gift.
Many do, but not all. Several offers pay without any direct deposit — just an opening deposit. A qualifying direct deposit can often be met by recurring ACH income such as client or platform payouts, though the definition varies by bank.