The competition among banks to acquire new clients has accelerated. Easily accessible online banking has leveled the playing field for all banks in today’s cutthroat industry. That’s why banks and other financial institutions have started giving enticing rewards to new account holders.
The value of these incentives may easily reach several hundred dollars. That translates to the financial institutions offering you money for your patronage. These fantastic bank bonuses will pique your curiosity if you have the financial resources to maintain the minimum required amount.
Get Up to $750 with the Chase Sapphire Checking
Both new and current clients may open a Chase Sapphire Checking account. Current Chase account holders are eligible to switch to the Sapphire brand. The best way to take advantage of this incentive is to have a substantial financial reserve. On the contrary, if you have the cash on hand, an excellent $700 is yours for the taking.
Find out how to get it. To open a Chase Sapphire checking account, you must deposit $75,000 worth of approved assets within 45 calendar days. Then, to get your bonus, you must maintain a daily balance of $75,000 or more for 90 consecutive calendar days. Cash and securities are two examples of qualified assets that may be held in any of your Chase savings, checking, or brokerage accounts. Visit the Chase Sapphire program website for additional information and the full terms and conditions.
Join SunTrust and Receive a Sign-Up Bonus of Up to $750
SunTrust Bank, headquartered in Atlanta, has entered the battle by providing welcome incentives of up to $750 to new clients. There are many hurdles to overcome. You will get one of the most generous incentives if you meet the requirements. First, you need to sign up for a SunTrust Advantage Checking account. Make at least $3,000 in eligible direct deposits, $100 of which must be made within two weeks. In addition, you must make a minimum of ten transactions with your debit card. Withdrawals and deposits should be processed within 60 business days after the account is opened.
If you meet those criteria, you will get a $250 bonus. Within the first 30 days of establishing a qualifying SunTrust account, you must deposit at least $100,000 in eligible deposits to get the bonus of $500. If you want to bank with SunTrust, you must live in one of the states where the company has a physical presence. Check out the school’s official website for additional info.
HSBC Offers New Checking Account Customers Up to $750
HSBC is among the world’s top 10 banking institutions and is expanding its presence in the American market. The HSBC Premier Checking Account is a good option if you have a hundred thousand dollars to deposit. If you deposit $100,000 into the account within 90 days, you will get a $750 bonus.
That $100,000 is a rather lofty goal. Happily, HSBC provides customers with a choice between two options. To begin, if you fund your Advance Checking account with $10,000 or more during the first 90 days of account activation, you will get $350. When opening a new Choice Checking account and depositing $1,500 or more during the first 90 days, you will get an additional $200. $750 is just 0.75 percent of $100,000, whereas $350 is only 3.5 percent of $10,000 and $200 is only 13.3 percent of $1,500. Therefore the cheaper alternatives really provide an excellent deal.
Join the Citi Priority Account Package and Get Up to $600
Many bank account incentive deals require that the consumer make direct electronic deposits. As opposed to other banks, Citi offers new Priority Account Package customers $600 in incentives when they deposit $50,000. None of the other prerequisites are required. The one exception is that the $50,000 must come from a source other than an existing Citi account.
Additional incentives from Citi range from $100 to $500. Additionally, the bank makes it simple to be exempt from paying some costs related to having an account. You may get the bonus by keeping your balance over a certain minimum amount. Check out Citi’s offer website for further details.
Wells Fargo Everyday Checking offers $400
This Wells Fargo promotion will be available until November 27, 2019. A one-time incentive of $400 is available to new account holders who open an Everyday Checking account (either in person or online). You may get the money if you make a $25 minimum first investment and then direct deposit $3,000 or more per month for three months. To keep your eligibility, you must make your first deposit within 150 calendar days and maintain a balance of at least $1 in your account at all times.
A monthly cost is associated with the account $10 unless you fall under one of the categories below. Maintain a daily balance of $1,500; make 10 debit card purchases per month; make a direct transfer of $500 or more per month. Another disclaimer: this deal is only valid in certain areas, so be sure it’s accessible where you live before committing.
In Conclusion
Some of the deals described above are time-sensitive. By the time you finish your research, the window may be too late. You needn’t worry about missing out, however. It seems that the current practice in the banking sector to entice new businesses with generous incentives will continue. Be vigilant and check in with your bank of choice often. Likely, a competing bid won’t be too far behind.
Remember that these are a sampling of the many comparable deals on the market. There are a lot of alternative options that provide smaller incentives overall but have more reasonable requirements. Have fun looking, and cash in on your winnings!
Featured Image: Freepik © Christina Morillo
