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12 Best Bank Promotions of November 2020 (Get Up to $700 Cash)
So, you’re looking for a new bank account.
You’ve got several factors to consider — including bank promotions. Wouldn’t it be nice to fund your shiny new account with some extra cash?
Many banks offer sign-up bonuses. No, these bonuses aren’t always advertised, but we did some digging and found you some hefty cash offers.
Best Bank Promotions of November 2020
We’ve researched the best cash bonuses available this month so you don’t have to. Below, you’ll find our favorite checking and savings account bonuses.
Keep an eye on what it takes to qualify, as well as any limitations. Direct deposit and minimum balances are commonly factors in securing these bonuses. Otherwise, happy bank bonus shopping!
1. Aspiration Account: $100
Bonus: $100
To qualify: To earn your $100, here’s all you need to do: Open your Aspiration account and deposit at least $10.
Limitations: Use your Aspiration debit card to make at least $1,000 of cumulative transactions within the first 60 days of opening your account. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.
Sign up: Enter your email address here, and link your bank account. With Aspiration, your money is FDIC insured and under a military-grade encryption.
No offer expiration.
2. TD Bank Beyond Checking Account: $300
Bonus: $300
To qualify: You must receive a total of $2,500 or more via direct deposit within 60 days of opening your new account. Then the $300 bonus will be deposited into your account within 140 days of opening.
Limitations: This account is not available in every state, so be sure to check. Additionally, there’s no minimum to open an account, but you must maintain a minimum daily balance of $2,500 to avoid the $25 monthly maintenance fee.
Sign up: Visit this TD Checking page. Click the orange “open account” button, and follow the instructions to open a TD Beyond Checking account.
No offer expiration.
3. TD Bank Convenience Checking Account: $150
Bonus: $150
To qualify: You must receive direct deposits totaling $500 or more into your new account within 60 days of opening. The $150 bonus will be deposited into your account within 140 days of opening.
Limitations: This account is not available in every state, so be sure to check. There’s no minimum balance requirement to open an account, but you should maintain a $100 daily minimum balance to avoid the $15 monthly maintenance fee.
Sign up: Visit this TD Checking page. Tab over to the correct account, click the orange “open account” button, and follow the instructions to open a TD Convenience Checking account.
No offer expiration.
4. Bank of America Advantage Banking: $100
Bonus: $100
To qualify: Open a new Bank of America Advantage Banking account online using the official offer page. You will need to set up and receive two qualifying direct deposits of $250 or more each within 90 days of opening the account.
Limitations: This offer is only available to new Bank of America personal checking account customers.
Sign up: Visit the offer page and use the offer code PSR100CIS when opening the account.
Offer expires December 31, 2020.
5. Associated Bank Access Checking: Up to $500
Bonus: Up to $500
To qualify: Open a new Associated Access Checking account with a minimum deposit of $25 and receive direct deposits totaling at least $500 within 90 days of opening your account. Bonus values will vary based on the sum of the average daily balance of all Associated Bank deposit accounts from days 61 to 90:
- Average daily balances of $1,000 to $4,999.99 will earn a $200 bonus.
- Average daily balances of $5,000 to $9,999.999 will earn a $300 bonus.
- Average daily balances of $10,000 or more will earn a $500 bonus.
Limitations: Must be a new Associated Access Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide. Account must remain open for a minimum of 12 months; if you close it early, Associated Bank reserves the right to deduct the paid out bonus before account closure.
Sign up: Visit this Associated Bank account sign-up page and select the appropriate account.
Offer expires May 31, 2021.
6. Associated Bank Balanced Checking: Up to $500
Bonus: Up to $500
To qualify: Open a new Associated Balanced Checking account with a minimum deposit of $100 and receive direct deposits totaling at least $500 within 90 days of opening your account. Bonus values will vary based on the sum of the average daily balance of all Associated Bank deposit accounts from days 61 to 90:
- Average daily balances of $1,000 to $4,999.99 will earn a $200 bonus.
- Average daily balances of $5,000 to $9,999.999 will earn a $300 bonus.
- Average daily balances of $10,000 or more will earn a $500 bonus.
Limitations: Must be a new Associated Access Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide. Account must remain open for a minimum of 12 months; if you close it early, Associated Bank reserves the right to deduct the paid out bonus before account closure.
Sign up: Visit this Associated Bank account sign-up page and select the appropriate account.
Offer expires May 31, 2021.
7. Associated Bank Choice Checking: Up to $500
Bonus: Up to $500
To qualify: Open a new Associated Choice Checking account with a minimum deposit of $100 and receive direct deposits totaling at least $500 within 90 days of opening your account. Bonus values will vary based on the sum of the average daily balance of all Associated Bank deposit accounts from days 61 to 90:
- Average daily balances of $1,000 to $4,999.99 will earn a $200 bonus.
- Average daily balances of $5,000 to $9,999.999 will earn a $300 bonus.
- Average daily balances of $10,000 or more will earn a $500 bonus.
Limitations: Must be a new Associated Access Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide. Account must remain open for a minimum of 12 months; if you close it early, Associated Bank reserves the right to deduct the paid out bonus before account closure.
Sign up: Visit this Associated Bank account sign-up page and select the appropriate account.
Offer expires May 31, 2021.
8. Citibank Basic Banking Package: $200
Bonus: $200
To qualify: Open a new checking account in the Basic Banking Package. Within 30 days, deposit $5,000 in funds that are new to Citibank. Maintain a minimum balance of $5,000 for 60 days in a row. You will receive the bonus 90 days after completing required activities.
Limitations: This offer is limited to new-to-Citibank customers who have not had a checking account with the institution in the last 180 days. Rates and promotions may vary by location; verify your promotion details by entering your ZIP code on the site.
Sign up: Click “apply now” on this page to have the bonus applied.
Offer expires January 5, 2021.
9. Citibank Account Package: $400
Bonus: $400
To qualify: Open a new checking account in the Account Package. Within 30 days, deposit $15,000 in funds that are new to Citibank. Maintain a minimum balance of $15,000 for 60 days in a row. You will receive the bonus 90 days after completing required activities. A savings account is required with this package.
Limitations: This offer is limited to new-to-Citibank customers who have not had a checking account with the institution in the last 180 days. Rates and promotions may vary by location; verify your promotion details by entering your ZIP code on the site.
Sign up: Click “apply now” on this page to have the bonus applied.
Offer expires January 5, 2021.
10. Citibank Priority Account Package: $700
Bonus: $700
To qualify: Open a new checking account in the Account Package. Within 30 days, deposit $50,000 in funds that are new to Citibank. Maintain a minimum balance of $50,000 for 60 days in a row. You will receive the bonus 90 days after completing required activities. A savings account is required with this package.
Limitations: This offer is limited to new-to-Citibank customers who have not had a checking account with the institution in the last 180 days. Rates and promotions may vary by location; verify your promotion details by entering your ZIP code on the site.
Sign up: Click “apply now” on this page to have the bonus applied.
Offer expires January 5, 2021.
11. HSBC Premier Checking: Up to $600
Bonus: 3% cash bonus up to $600
To qualify: Apply online using the “apply” button on this offer page, then set up qualifying direct deposits into the account once per calendar month for six consecutive months. You will then receive a 3% cash bonus based on the amount of your qualifying direct deposits, with a max of $100 a month for six months.
Limitations: You cannot have had an HSBC account from September 30, 2017 through September 30, 2020. You must also have been a U.S. resident for at least two years and must be 18 or older.
Sign up: Use this offer page to sign up for the offer. Click “apply now” on the correct account.
Offer expires January 7, 2021.
12. HSBC Advance Checking: Up to $240
Bonus: 3% cash bonus up to $240
To qualify: Apply online using the “apply” button on this offer page, then set up qualifying direct deposits into the account once per calendar months for six consecutive months. You will then receive a 3% cash bonus based on the amount of your qualifying direct deposits, with a max of $40 a month for six months.
Limitations: You cannot have had an HSBC account from September 30, 2017 through September 30, 2020. You must also have been a US resident for at least two years and must be 18 or older.
Sign up: Use this offer page to sign up for the offer. Click “apply now” on the correct account.
Offer expires January 7, 2021.
How to Search for Bank Promotions on Your Own
In the spirit of not listing approximately 193 bank promotions, we kept this list short and sweet — only highlighting the best bank promotions for checking and savings accounts.
But maybe you’re interested in banking with your local credit union, opening up a small business checking account or finding the perfect investment account? There are often bonus offers attached to these account openings, too.
The banks don’t always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.
- Check the bank’s website first. Sometimes it’ll advertise its promotions right there. This is rare, but it’s worth a quick check — it could save you a ton of time.
- If you don’t have any luck, reach out to the bank’s customer service team through phone, email or chat. Let them know you’re shopping for a new account, and you’d like to know if it’s running any promotions. More often than not, the nice representative will send you a special link.
- If this doesn’t work, turn to your trusty friend Google. Look for the best bank promotions. Because you’ll likely dig up some offers from third-party sites, you’ll want to take a few minutes to make sure the offer:
- Hasn’t expired.
- Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. You can even read some online reviews.
- Doesn’t require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000 and carry out 60 qualifying debit card purchases before the end of your first 30-day statement cycle.
- You can also reach out to your family, friends and social network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.
Overall, be smart. Don’t let that promise of an account bonus blind you. Also, read the fine print so you don’t get stuck paying high monthly fees, interest rates or closing penalties.
Will Opening a Bank Account Hurt Your Credit Score?
If you’re worried that opening a new bank account or closing an old one will hurt your credit score, don’t be. Your bank accounts are not included in your credit report and therefore have no effect on your score, unless you have an outstanding negative balance that the bank turns over to a collection agency.
Sometimes when you go to open a new bank account, banks will do a soft credit check. However, that won’t affect your score.
Now, go enjoy your fresh new bank account and that nice cash bonus you’re about to pocket. Add it to your savings account, put it toward student loan payments or, heck, treat yourself!
Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.