Open app

Bank Bonus Offers

Banks pay cash bonuses for opening an account with them. Think of it as a credit card welcome bonus, but for a bank account. There’s usually no hard inquiry, so your credit score isn’t affected.

By Quy Dinh · Updated Oct 30, 2026

How it works

  1. Apply for the account through an offer link. Doctor of Credit’s Best Bank Account Bonuses page is a great link to keep track of the latest bonuses.
  2. Open the account (if it has no monthly fee, that’s a plus).
  3. Meet the bonus requirement (usually a direct deposit or a balance) before the deadline.
  4. Leave your funds in the account for the required amount of time (if applicable).
  5. The cash bonus is deposited into your account after the specified deadline.
  6. Withdraw your funds anytime after the bonus hits.
  7. (Optional) You can close the account. Wait 6 months minimum to be safe. Be sure to leave enough to cover any potential monthly fees.

What counts as a direct deposit

Confirmed to work

  • Paychecks from your job
  • Government benefits (like Social Security)
  • ACH transfers from your business bank account
  • StockX payouts
  • StubHub payouts

Confirmed to not work

  • Zelle
  • Cash
  • Mobile check deposits

Not sure about a method? Look up your bank on Doctor of Credit’s direct deposit list and read the data points to see if it has worked there. Every bank is different.

FAQ

Can I close anytime with no penalty?

No. Close too early and the bank can take back the bonus or charge a fee. If the terms don’t say, wait 6 months.

How long do funds need to stay in?

For a direct deposit bonus, the money just has to arrive. For a balance bonus, keep the full amount in for the whole holding period, usually 60 to 90 days.

Does this negatively impact my credit?

No. Most banks only do a soft check, which doesn’t affect your score.

Is this income taxable?

Yes. It counts as interest income, so it’s taxable.

Pro tips

  • Never let an account go negative.
  • Avoid monthly fees.
  • Track every deadline.
  • Check the SEC code. If a deposit’s description shows PPD, CCD, WEB, or a similar three-letter code, it came in as an ACH transfer. Only ACH payments carry that code. PPD is the code payroll uses, so it’s the one banks are most likely to count as a direct deposit.

Join the free Discord

Editorial note: Our opinions alone, not reviewed or approved by any bank, card issuer, airline or hotel. Accurate as of the date shown; offers change, so check the issuer’s site before you apply.