For Americans looking to make their money work a little harder—or just snag some extra cash before the new year—banks are rolling out a slew of enticing bonuses for new checking and savings accounts. The latest round of offers, many expiring in early 2026, can put hundreds or even thousands of dollars in your pocket, simply for opening an account and meeting a few straightforward requirements. According to MoneyLion and The Motley Fool, these promotions are among the most generous seen in recent years, reflecting fierce competition among banks for new customers.
Let’s start with the headline-grabber: NexBank’s High-Yield Savings Account, available through the Raisin platform, is offering up to $2,000 in tiered cash bonuses for new customers. As reported by The Motley Fool, you’ll need to open an account with code GIFT and make a qualifying deposit within 14 days of your first deposit. The bonus structure is tiered—$20 for balances between $10,000 and $24,999, $50 for $25,000 to $49,999, $100 for $50,000 to $99,999, $200 for $100,000 to $249,999, and a whopping $500 for balances of $250,000 or more. To collect, you must maintain your deposit for 90 days. The offer expires December 31, 2025. There are no monthly service fees, and the account is FDIC insured, but it’s important to note that all transactions must be conducted online via ACH transfers—no branches or physical checks here.
For those who prefer a blend of checking and savings, SoFi is making waves with its Checking and Savings combo account. SoFi’s promotion, highlighted by The Motley Fool, offers up to a $300 bonus and up to 4.00% Annual Percentage Yield (APY) on savings, including a 0.70% APY boost for up to six months, starting December 23, 2025. To qualify, new customers must either pay a $10 SoFi Plus subscription each month, receive eligible direct deposits, or make qualifying deposits of $5,000 every 31 days by January 31, 2026. There are no monthly account fees, and customers can access their funds through ATMs and unlimited external transfers. The account is FDIC insured up to $3 million with the SoFi Insured Deposit Program. However, there’s no branch access—everything is managed online or via the mobile app.
CIT Bank’s Platinum Savings account is another contender for those seeking a hefty bonus. According to The Motley Fool, new and existing customers can earn a $225 bonus with a minimum deposit of $25,000, or a $300 bonus with a $50,000 minimum. The promotion began September 23, 2025, and can end at any time without notice, so acting quickly is crucial. There are no account opening or maintenance fees, and the account offers a competitive APY—3.75% on balances of $5,000 or more, and 0.25% for lower balances, as of November 20, 2025. Like many high-yield accounts, all banking is done online, with unlimited external transfers but no branch access.
Chase, the largest U.S. bank by assets, is sticking to its tried-and-true $300 bonus for new Total Checking customers. Both MoneyLion and The Motley Fool note that there’s no minimum deposit required to open the account. To earn the bonus, you must make direct deposits totaling $500 or more within 90 days of coupon enrollment. The monthly service fee is $15 (set to take effect August 24, 2025), but it can be waived with qualifying activity: electronic deposits totaling $500 or more, a balance of $1,500 or more at the beginning of each day, or an average beginning day balance of $5,000 or more across linked Chase accounts. Chase offers the advantage of more than 15,000 ATMs and 4,700 physical locations, plus features like Overdraft Assist, which helps customers avoid overdraft fees if their account is overdrawn by $50 or less at the end of the business day—or if the shortfall is corrected by the next day.
Wells Fargo is also in the mix, providing a $325 bonus for new checking account customers. As detailed by MoneyLion, you’ll need to open an eligible account with a bonus code and receive $1,000 or more in qualifying direct deposits within the first 90 days of enrollment. The minimum opening deposit is $25, and the monthly service fee is $15—but this can be avoided with a $1,500 minimum daily balance or $500 or more in total qualifying electronic deposits. The offer is valid until January 14, 2026.
Citi is matching Wells Fargo’s bonus, offering $325 for new checking accounts. Per MoneyLion, to qualify, you must make at least two Enhanced Direct Deposits totaling at least $3,000 within 90 days of opening the account. There’s no minimum opening deposit, and the $15 monthly maintenance fee can be waived for customers in Relationship Tiers or by maintaining $250 or more in Enhanced Direct Deposits each month. Citi’s offer expires January 12, 2026.
Barclays is sweetening the deal for savers, offering a $200 bonus to new customers who deposit $30,000 or more within 30 days and maintain that balance for 120 consecutive days. The Motley Fool notes that the bonus will be credited within 60 days of meeting these requirements, and the offer ends December 31, 2025. There are no monthly account fees, but this is an online-only account—no ATM or branch access.
Before jumping in, experts urge consumers to read the fine print carefully. As The Motley Fool points out, most bank promotions are simple if you stick to the terms, but missing even a single requirement can cost you the bonus. Common requirements include making qualifying direct deposits within 30 to 90 days, maintaining a minimum balance for a set period, or completing a few debit card transactions or bill payments. Some bonuses, especially those for savings accounts, require larger deposits to be left untouched for several months. And don’t forget—bank bonuses are considered taxable income. If you earn more than $10 in bonuses, you’ll likely receive a 1099-INT form during tax season.
Another important consideration: recurring fees. Many of these accounts carry monthly service fees that can be waived by maintaining a certain balance or setting up direct deposits. If you’re not careful, these fees can eat into your bonus. Additionally, most banks restrict bonuses to new customers, so if you’ve held an account recently, you may not qualify. Even after meeting all the requirements, bonuses can take up to 90 days to appear in your account.
Ultimately, with banks competing fiercely for new business, these cash bonuses represent a unique opportunity for savvy consumers willing to do a little homework. Whether you’re looking for a high-yield savings account, a checking account with nationwide access, or simply a way to pocket some extra cash, there’s likely a bank promotion tailored to your needs. Just make sure to read those terms and conditions—because when it comes to free money, the devil is always in the details.
