Why bank account bonuses are worth a look

Switching banks? Now might be the perfect time. Many banks are offering sign-up bonuses — sometimes a few hundred bucks — just for opening an account and completing a few easy steps.

You’ll usually need to set up a direct deposit, use your debit card a few times, or keep a certain balance in the account. But don’t skip the fine print. One missed step can mean no bonus.

Also worth noting: bank bonuses are taxable. If you earn more than $10, you’ll likely get a 1099-INT come tax time.

If you’re already planning to move your money, a cash bonus can be a simple way to make the switch more rewarding.

How to earn a bonus

Most bank promotions are pretty straightforward if you stick to the rules. Here’s what they often require:

  • A qualifying direct deposit within 30 to 90 days of opening the account
  • For savings offers, a larger deposit that stays untouched for a few months
  • Some deals only need a few debit card purchases or a quick bill payment

Before signing up, take a moment to read the terms. Make sure they match your budget and your banking habits so you don’t miss out.

What to watch out for

Even simple offers can have some catches. Some accounts charge monthly fees unless you meet certain requirements, like maintaining a balance or setting up direct deposit. And you might not qualify if you’ve had an account with that bank in the last year.

Also, don’t expect the bonus to arrive right away. Even when you follow every step, it can take up to 90 days to show up.

To make things easier, we’ve rounded up this week’s best bank bonuses — the ones that are clear, low-effort, and actually worth your time.

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