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Many banks offer generous sign-up bonuses. But there’s often a lot of red tape to factor in before you receive that bonus. Most commonly, banks require a direct deposit to claim your bonus.
But changing your payroll information to switch your direct deposit can be a hassle, especially if your new bank is not going to be your primary bank.
Some people are independent contractors or gig workers and don’t have clients who pay via direct deposit, so they need a financial institution that offers a bank bonus without direct deposit requirements.
With this in mind, GOBankingRates has compiled a list of banks with immediate sign-up bonuses. Keep in mind that some of these are business accounts and others are savings accounts, but none of them require a direct deposit to earn bonus cash. There are also a few rare treasures in this list: Checking accounts with no direct deposit requirements to earn a sign-up bonus.
However, be sure to read the fine print because you may have other requirements besides direct deposit to meet before claiming your cash.
So, what is the best bank bonus now without direct deposit requirement? Read on to find our top choices.
The following banks offer sign-up bonuses for personal or business customers with no direct deposit requirements, although you may have to meet other qualifications.
High earners can benefit at Huntington Bank with a $600 bonus when you deposit at least $25,000 into your Platinum Perks Checking account within the first 90 days and keep the account open for 90 days. This offer expires Oct. 7, 2024.
If you don’t have $25,000 to deposit, you can open a Perks Checking account and receive one qualifying direct deposit within 90 days to earn $400.
Flushing Bank allows new Complete Checking customers to earn up to $2,500 in a cash bonus when they maintain a minimum average balance for three months.
The bonus will be paid by the 15 th of the month following the three-month qualification period.
Small business owners can also take advantage of sign-up bonuses with no direct deposit requirements. Since many businesses may not receive direct deposits from clients, these offers make it easy to take advantage of extra bonus cash, however, your customers choose to pay you.
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Now through Dec. 31, 2024, Bank of America, Member FDIC, is giving small business owners a cash bonus of $200 when they meet specific requirements for their new Bank of America Business Advantage Fundamentals or Business Advantage Relationship Banking account.
You’ll need to deposit $5,000 or more in new money within 30 days of opening the account and maintain that balance 90 days after opening the account to earn the $200 cash bonus.
New Chase Business Complete Checking customers can earn $300 when they open a new account and fund it with $2,000 in new money (not transferred from other Chase accounts) within the first 30 days of enrollment, maintain that balance for 60 days from account opening, and meet other criteria.
You must have five qualifying transactions within the first 90 days of enrollment. These can include direct deposits, but you can also qualify with other transactions.
You can make any five of the following transactions within the 90-day period from account opening to qualify for a $300 bonus, delivered within 15 days of meeting the qualifications.
This offer expires on Oct. 17, 2024.
PNC gives business owners two choices to earn bonuses of $200, $500 or $1,000, depending on their average daily ledger balance.
Maintain a minimum average ledger balance of at least $5,000 for the first three statement cycles and complete at least 20 qualifying PNC Bank Visa business debit card transactions within the first three statement cycles.
Choose a Treasury Enterprise Plan or an Analysis Business Checking account and maintain an average ledger balance of at least $30,000 for the first three statement cycles. These offers expire on Sept. 30, 2024.
These are some of the bonuses that were available from banks that have now expired.
U.S. Bank usually requires direct deposit to earn bonuses, the bank didn’t have direct deposit requirements to earn a $300 bonus with a Standard Savings account.
To qualify, you would have to open your savings account with at least a $25 minimum deposit. Then, continue funding your savings account with at least $25,000 or more in new money (cannot be transferred from another U.S. Bank account). Maintain that $15,000 minimum balance to earn $300 in bonus cash.
Fulton Bank, headquartered in Lancaster, PA, offered a bonus of up to $250, with no direct deposit requirements. To cash in on a $200 bonus, you had to open a Simply Checking account and use your contactless debit card to make at least 15 purchases, totaling at least $300, within the first 60 days of account opening. You would earn another $50 by opening a Statement Savings account online and deposit at least $1,000 in new money within the first 60 days.
Wells Fargo offered a $525 bonus when you opened a new Way2Save savings account. You needed to fund the new account with just $25, and then deposit $25,000 in new money (not transferred from another Wells Fargo account) within the first 30 days. Customers who maintained that balance through day 90 would get $525 deposited into their account within 30 days.
TD Bank’s Beyond Savings and Simple Savings accounts both offered $200 in bonus cash when you opened an account, deposited $10,000 or more within the first 20 days and then maintained at least a $10,000 balance for 90 days.
M&T Bank offered a cash bonus of $350 when you opened a MyChoice Premium Checking account. To gain the bonus, you had to maintain an average monthly balance of at least $10,000 for June and July.
With no or low monthly fees and high interest rates, these online banks and financial service companies offer cost savings compared to some traditional banks along with generous sign-up bonuses and no direct deposit requirements.
Upgrade is an online financial services company backed by Cross River Bank, Member FDIC. The neobank is offering a $200 bonus when you apply for an Upgrade Cash Rewards Card and open a Rewards Checking Plus account through Upgrade. You’ll need to make at least three debit card transactions within the first 60 days of opening your account to qualify for the bonus, but there are no direct deposit requirements.
Revolut is a cash management account with plans starting at $0 per month. Funds stored with Revolut are backed up to federal allowable limits by Metropolitan Commercial Bank, Member FDIC.
You can earn a sign-up bonus when you open a Revolut account. You just have to sign up using a unique link from a Revolut partner and then make one qualifying transaction of at least $1 with your physical or virtual Revolut card. The bonus amount varies based on the promotional partner.
Though no longer available, you can see some of the bonuses that were once available from some institutions.
M1 is a no-commission investment account offering more than 6,000 stocks and ETFs. With more than 1 million users and $6 billion in assets, M1 could be worth considering if you are just getting started investing or looking for an easy-to-use, no-fee investment account.
M1 was offering a bonus of up to $20,000 to invest if you transfer funds from another brokerage. The offer expired on March 31, 2024. Here’s how much you could’ve earned:
While Fidelity is not a bank, it offered a generous — and easy — bonus of $100 when you opened a new, eligible Fidelity cash management account with at least $50 and maintained a $50 balance for the first 15 days after opening the account. That’s a 200% return on your money, with no additional hoops to jump through or requirements to meet. This offer expired on Dec. 11, 2023.
These credit unions offer sign-up bonuses that don’t rely on direct deposit to qualify. Most have broad membership requirements that allow most people with a social security or tax ID number to join.
SkyOne Federal Credit Union, headquartered in Hawthorne, California, is a federally insured credit union that’s easy for anyone to join. You must work for a SkyOne partner, or live, work, worship or go to school within a qualified area near the SkyOne Main Branch. Alternatively, anyone can join this credit union simply by joining the Surfrider Foundation. SkyOne pays for your first year’s membership in the organization.
SkyOne has a unique referral program that’s equally easy to participate in. Refer a friend to SkyOne, and when they join the credit union, you will each get a $25 Amazon gift card once your friend has been a member for 30 days. This isn’t your typical “sign-on bonus” for opening a checking or savings account, but it is an opportunity for SkyOne members to earn up to $500 to spend at Amazon each year.
America’s Christian Credit Union is celebrating 65 years in operation by offering customers a $400 bonus when you open a new checking account. To qualify, you’ll need to have at least two direct deposit payments of at least $500 before the first 90 days of opening the account. You’ll also need to request to have an ACCU Visa debit card and enroll in eStatements in the first 30 days of opening the account.
To become a member of America’s Christian Credit Union, you’ll need to be a member, attendee, employee, volunteer, student or alumni of a Christian church, ministry or school, or be a member of one of ACCU’s Healthcare Sharing Partners. Immediate family members of ACCU members are automatically qualified to join.
Suffolk Credit Union is offering a cash bonus of $300, with no direct deposit required. Here’s how it works: Open a Momentum Checking Account and make at least one deposit of $500 in the first month to earn $100 in cash. Deposit $500 in the second month for another $100 bonus, and another $500 in the third month for a total of $300 in sign-up bonuses.
Suffolk Credit Union has no minimum balance requirements and no monthly fees. If you maintain an average daily balance of $5,000 or more and make at least 20 debit card purchases per month, you could earn rewards.
The only downside? Membership in SCU is only available to people who live, work, worship, attend school, volunteer in, or run a business or other legal entity in Nassau County, New York, or select towns in Suffolk County.
Alliant Credit Union doesn’t exactly offer instant gratification with their sign-up bonus. But it does reward disciplined saving behavior. Users have to open an Alliant Ultimate Opportunity Savings Account and deposit at least $100 per month for 12 months. You’ll earn an APY on your funds, along with a $100 cash bonus. This applies only to accounts opened between Jan. 10, 2021, and Dec. 31, 2024.
Alliant is an online credit union open to virtually anyone in the U.S. You just need to join Foster Care to Success, Alliant’s charity partner. Alliant even covers the $5 membership fee. Alternatively, if you work for an Alliant partner or live in a qualifying region, you may qualify without joining Foster Care to Success.
Though no longer be valid, you can still have a glimpse at what a credit union near you may have offered.
The payoff may not be as it is with some of the other financial institutions on this list, but it also wasn’t very hard to qualify for a sign-up bonus Users had to open a new checking account and make at least $25 in debit card purchases in the first 60 days of account opening to earn $25.
American Airlines offers three different checking accounts for adult customers, plus a teen/young adult checking for customers aged 13 to 25. All accounts either have no monthly fees or fees that can be waived, albeit with a direct deposit or minimum daily balance.
To become a member, you’ll need to be an employee or retiree of American Airlines or a subsidiary or otherwise work in the air transportation industry, or live in a household with the same.
There is an up to $125 offer available currently, however, if you open a new Priority, Flagship, Ascend UChecking or Business Checking account with American Airlines. However, to receive the highest amount, it will require a direct deposit.
No direct deposit? No problem! Whether you’re in the market for a bank, credit union, online investment account or even another account that offers a fantastic CD rate, there are plenty of options for banks with immediate sign-up bonuses.
Melanie Grafil contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 4, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.
