Bonus for opening stock account

Read bankrate’s ally invest review to learn more. You’ll receive your cash reward two weeks after the initial 90-day period, assuming you meet eligibility requirements.

Actual forex bonuses

Best brokerage account bonuses in January 2021, bonus for opening stock account.

Best brokerage account bonuses in january 2021

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Brokerages are aggressively competing for your money. One way they do so is by offering competitive bonuses that you can add right to your brokerage account. It’s important to know the best offers so that you can decide whether it’s a good time to open a brokerage account and take advantage of what is often risk-free cash.

Here bankrate tracks the best brokerage account bonuses to help you compare active offers.

Best brokerage account bonuses in january 2021

Ally invest: $50 to $3,500

Merrill edge: $150 to $900

Charles schwab: $100 to $500 (personally referred friend offer)

E-trade: $50 to $2,500

Ally invest: $50, $200, $300, $600, $1,200, $2,500 or $3,500 bonus

New ally invest clients can earn up to a $3,500 cash bonus if they open a new account by march 31, 2021. The qualifying deposit must contain funds from outside of ally financial, and a person can only get the offer on one new ally invest securities LLC account. As an extra incentive, ally will credit your transfer fees from another brokerage, up to $150 as long as you bring at least $2,500 over to the new account.

Ally invest checks your deposit 60 days after your account is opened to determine the total qualifying deposit. You’ll receive your cash bonus within 10 business days after this review.

To receive a cash bonus, you must:

Deposit at least $10,000 in a new ally invest account.

Be a U.S. Resident.

Not be an existing ally invest account holder or a former ally invest account holder (which includes former tradeking securities LLC account holders). You’re not eligible to receive the cash bonus if you closed one of these ally invest accounts within the past 90 days.

You must use the “open account” button associated with this offer on ally invest’s site for opening your account to be eligible for this offer.

Here are the bonus tiers for this offer:

To receive the $50 bonus, deposit or transfer $10,000-$24,999.

To receive the $200 bonus, deposit or transfer $25,000-$99,999.

To receive the $300 bonus, deposit or transfer $100,000-$249.999.

To receive the $600 bonus, deposit or transfer $250,000-$499,999.

To receive the $1,200 bonus, deposit or transfer $500,000-$999,999.

To receive the $2,500 bonus, deposit or transfer $1 million -$1,999,999.

To receive the $3,500 bonus, deposit or transfer $2 million or more.

Once you receive your bonus, both the cash bonus and your qualifying deposit (minus any trading losses that are incurred) can’t be withdrawn for 300 days. A withdrawal may cause ally invest to revoke your bonus.

Read bankrate’s ally invest review to learn more.

Merrill edge: $150, $225, $375 or $900 bonus

When you open a merrill edge IRA or cash management account and make a qualifying deposit within 45 days of opening you can earn up to a $900 bonus. You need to use offer code 900ME during the account opening. This can be done while applying online or using it when speaking to a merrill edge financial adviser on the phone or at select bank of america branches. This offer expires april 15, 2021.

To receive a cash reward, you must:

Enroll for the offer at the time of account opening.

Deposit net new assets of at least $20,000 into your merrill edge account within 45 days of opening the account.

You must be enrolled in the preferred rewards program within 90 days of making the deposit.

Maintain that balance for at least 90 days.

The offer limits you to one IRA — rollover, traditional, roth and sole-proprietor SEP only — and one cash management account. Each account holder can’t have more than two enrolled accounts.

Assets from bank of america, merrill lynch, pierce, fenner & smith incorporated (MLPF&S), U.S. Trust, or 401(k) accounts administered by MLPF&S aren’t qualifying net new assets.

You’ll receive your cash reward two weeks after the initial 90-day period, assuming you meet eligibility requirements.

Business/corporate accounts, investment club accounts, partnership accounts and certain types of fiduciary accounts held at merrill edge aren’t eligible for this offer. The offer also doesn’t apply to accounts, which include iras or cmas, held with other business units of MLPF&S.

Here are the bonus tiers:

To receive the $150 cash reward, deposit $20,000 to $49,999.99.

To receive the $225 cash reward, deposit $50,000 to $99,999.99.

To receive the $375 cash reward, deposit $100,000 to $199,999.99.

To receive the $900 cash reward, deposit $200,000 or more.

Read bankrate’s merrill edge review to learn more.

Charles schwab: $100, $200, $300 or $500 (if you’re referred by a friend)

Schwab is offering personally referred friends the opportunity to earn up to $500 when they use a referral code, given to you by a current schwab customer, and open an eligible account at schwab.

To receive the bonus award, you must:

Receive a referral code from a friend or family member.

Be a new schwab client and make a qualifying net deposit within 45 days of both becoming a schwab customer and opening an eligible retail brokerage account.

You’re limited to one per account and only one account per client when you receive a referral.

Schwab retail brokerage accounts and iras are eligible for this offer. This includes accounts that are enrolled in schwab-sponsored investment advisery programs, such as schwab intelligent portfolios, schwab managed portfolios, schwab managed account select and connection and schwab private client.

You’ll receive your bonus approximately a week or two after the 45-day period ends if you made a qualifying deposit when becoming a new schwab customer and enrolling in the referral offer.

Schwab may charge back its bonus award if taxable accounts aren’t kept at schwab for at least one year.

Here are the bonus tiers for this offer:

To receive a $100 bonus, deposit $1,000-$24,999.

To receive a $200 bonus, deposit $25,000-$49,999.

To receive a $300 bonus, deposit $50,000-$99,999.

To receive a $500 bonus, deposit $100,000 or more.

Read bankrate’s charles schwab review to learn more.

E-trade: $50, $100, $150, $200, $300, $600, $1,200 or $2,500 bonus

You can earn a cash bonus if you open a retirement or brokerage account and fund it with $5,000 or more within 60 days of account opening. Your account must be opened by jan. 31, 2021.

To receive a cash bonus, you must:

Use promo code WINTER21 when opening the account.

Open your new account with funds or securities from accounts outside of E-trade. You need to also keep the new account (minus any trading losses) for at least 12 months to keep the cash bonus.

Here are the cash bonus tiers for this offer:

To receive a $50 bonus, deposit or transfer $5,000-$9,999.

To receive a $100 bonus, deposit or transfer $10,000-$19,999.

To receive a $150 bonus, deposit or transfer $20,000-$24,999.

To receive a $200 bonus, deposit or transfer $25,000-$99,999.

To receive a $300 bonus, deposit or transfer $100,000-$249,999.

To receive a $600 bonus, deposit or transfer $250,000-$499,999.

To receive a $1,200 bonus, deposit or transfer $500,000-$999,999.

To receive a $2,500 bonus, deposit or transfer $1 million or more.

Read bankrate’s E-trade review to learn more.

5 broker deals that'll pay you to open an account

If you're looking for a new brokerage, consider opening your account with one of these institutions. They’ll pay you a new account bonus on certain account types if you meet minimum deposit requirements and keep your account open for a specified length of time. (all promotional data presented is accurate as of may 2020.)

Key takeaways

With discount brokers cutting client fees and offering $0 trading commissions, the competitive landscape has never been better for individual investors and savers.

In order to lure in new clients (or steal them from the competition), many financial firms offer financial incentives to those who qualify.

Here, we present just five such offers that include cash bonuses, free trading, and higher-than-market incentive rates on savings products.

Charles schwab: $100 bonus or 500 commission-free trades

Charles schwab is offering a $100 referral bonus with a $1,000 deposit into a new schwab brokerage account. You can also get 500 commission-free trades with a $100,000 deposit; this deal is good for two years following the opening of the new account.

Schwab also offers unlimited commission-free online trading on most stocks and etfs for all clients.

Motif investing: 3 free months

On offer now at motif investing is 3 free months of their motif BLUE unlimited automated investment service. The offer is good only for first-time customers and is available when the new brokerage account application is approved.

For subscriptions starting at $4.95 per month, motif BLUE provides automated investing and rebalancing, real-time quotes, unlimited trading, and more.

$100 bonus + 3.75% 40-month IRA CD at navy FCU

Navy federal credit union is offering a $100 bonus, and it's available nationwide. Investors taking advantage of this deal will also have access to an attractive CD rate of 3.75 percent APY when you open a new IRA CD.

To qualify for the bonus, the new account must be funded with an opening balance of at least $100 within 45 days of account opening. The bonus will be deposited into the account within 30 days of the qualifying opening deposit.

Ally invest $3,500 cash bonus + 90 days of commission-free trades

Available at ally is an ally invest $3,500 cash bonus offer, which offers a $3,500 cash bonus and commission-free trades for 90 days when you open a new ally invest account. To qualify, you must do the following:

1. Open a new self-directed trading account by january 31, 2019.

2. Fund your account within 60 days of account opening to earn a bonus based on your deposit amount:

$3,500 bonus + free trades for $2,000,000+ deposit or transfer

$2,500 bonus + free trades for $1,000,000+ deposit or transfer

$1,200 bonus + free trades for $500,000+ deposit or transfer

$600 bonus + free trades for $250,000+ deposit or transfer

$300 bonus + free trades for $100,000+ deposit or transfer

$200 bonus + free trades for $25,000+ deposit or transfer

$50 bonus + free trades for $10,000+ deposit or transfer

3. Receive the bonus cash credit to your account within 10 business days of meeting the promotional requirements.

4. Once the account is credited, the bonus and initial qualifying deposit are not available for withdrawal for 300 days after the requirements have been met.

Get up to 500 commission-free trades at E*TRADE, plus up to a $600 cash credit

If you decide to go with an E*TRADE account, there are a few things you'll need to know. First, you must fund your account within 60 days by transferring funds from an external source. Here's how it works:

Deposit at least $10,000 into your new account.

Get up to 500 commission-free trades for stocks or options within 60 days of funding your new trading account. This excludes options contract fees.

Your first 29 stock or options trades are charged $6.95 (plus $0.75 cents for each options contract), while trades after that are charged $4.95 (plus $0.50 per options contract) up to 500 trades.

Commissions are credited back to your account within a week of the settled trade.

E*TRADE does not compensate for any unused commission-free trades.

There is a separate commission schedule for stock plan account transactions.

E*TRADE makes credits for cash or securities within 60 days of the account open, depending on deposits to the account from external sources. Credits are made within a week after the 60-period. Here's how the credit is broken down:

Deposit $1,000,000+, receive $2,500 + commission-free trades

Deposit $500,000–$999,999, receive $1,200 + commission-free trades

Deposit $250,000–$499,999, receive $600 + commission-free trades

Deposit $100,000–$249,999, receive $300 + commission-free trades

Deposit $25,000–$99,999, receive $200 + commission-free trades

Deposit $10,000–$24,999, receive only commission-free trades

E*trade offers unlimited commission-free online trading on most stocks and etfs for all clients.

The bottom line

These promotions aren’t a good way to make a quick buck, and the bonuses are relatively small, often 1 percent or less of the amount you’re required to deposit. What's more, in many cases, taxes or commissions will erode the value of your bonus.

An account-opening bonus is, however, a good incentive to give a brokerage, bank or credit union a closer look if you were thinking about opening a new account anyway. Just make sure the account type you’re opening is the best option for your long-term needs, that you’ll still come out ahead after any fees and that you aren’t depositing money you might need in the near term.

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11 best new brokerage account promotions & bonus offers – january 2021

As a savvy investor, you’re no doubt aware dozens of banks and credit unions entice new business with account-opening promotions. Some reward first-time customers with bonuses worth hundreds of dollars just for opening an account and making qualifying deposits. The best land on our regularly updated roundup of the top new bank account promotions.

You’ve probably seen credit card issuers get in on the action too. Many of the best cash-back credit cards and travel rewards credit cards come with irresistible welcome offers, the best of which rival the most generous new bank account promotions.

If it’s been years since you switched brokerage firms or you’re entirely new to investing, you might be unaware america’s top self-directed and managed investment platforms also offer impressive new-account bonuses. Top-tier new brokerage account promotions dwarf the leading bank and credit card promotions — promising thousands to new customers bringing substantial assets to the table.

Best new brokerage account promotions (january 2021)

These are the best new brokerage account promotions from north america’s top online stock brokers for this month. All are subject to change, so check back often for updates.

Whichever you choose, pair your new brokerage account with a subscription to trade ideas, the most powerful paper trading and market research subscription around.

1. Acorns — $10 bonus

Open a new acorns account using the link below to earn a $10 credit. It’s that simple — no minimum deposit or balance required. You’ll receive the credit after completing your account registration.

Moving forward, acorns offers three attractively priced plans that support everyday money management, longer-term saving, and market investing:

Lite. For just $1 per month, take advantage of a powerful investing platform (invest) that allows you to invest spare change left over from everyday purchases (round-ups) and earn bonus investments from more than 350 found money partners.

Personal. For just $3 per month, acorns adds a tax-advantaged retirement account that updates regularly to match your goals and a checking account with 55,000+ fee-free atms worldwide and up to 10% bonus investments.

Family. For just $5 per month, you’ll get everything included in the lower-priced plans, plus early, a kid-friendly investment account featuring automatic recurring investments, exclusive bonus investments, family-centered financial advice, and potential tax savings.

2. Robinhood — up to $200 (or more) in free stock

Open a new robinhood account and to get up to $200 (or more) in free stock. Here’s how it works:

Apply for a new robinhood brokerage account and get approved.

Robinhood adds 1 free share of stock worth between $2.50 and $200 (or more) per share, chosen randomly from its inventory of settled shares.

You can hold the share indefinitely or sell it after 2 trading days.

Bear in mind that you may not receive the same stock as other applicants and your share’s value may fluctuate with market movements. Once open, use your account to trade stocks, etfs, and other market-traded instruments.

3. Webull — free stocks up to $3,700 total value & 3 months free level 2 advance (nasdaq totalview) subscription

Open and fund a new webull account with at least $100 to get up to four free stocks worth up to $3,700 in total. Participating stocks include google, facebook, procter & gamble, starbucks, kraft heinz, and snap.

Plus, sign up to receive a three-month level 2 advance (nasdaq totalview) subscription for free. Here’s how these promotions work:

Account opening bonus (2 free stocks)

Simply sign up and open a qualifying webull account to receive two free stocks valued between $2.50 and $250. You must complete the account opening process by the stated offer end date at the time you apply. This date is subject to change at webull’s discretion.

Deposit bonus (2 free stocks)

Make an initial deposit of $100 or more to your new account by the end of the offer period to claim two free stocks valued between $8 and $1,600 each per share.

Account opening bonus (nasdaq totalview subscription)

Sign up and open your account to receive a three-month level 2 advance (nasdaq totalview) subscription for free. After the promotional period ends, the standard subscription fee applies.

These offers apply only to webull cash and margin accounts.

4. Blockfi — up to $250 BTC bonus

Open and fund a blockfi interest account (BIA) for the first time and make qualifying deposits within the first 30 days of opening. In return, you could earn a special one-time bonus worth up to $250 BTC. The payout tiers work as follows:

$15 BTC: deposit $25 to $249

$20 BTC: deposit $250 to $999

$40 BTC: deposit $1,000 to $4,999

$75 BTC: deposit $5,000 to $9,999

$150 BTC: deposit $10,000 to $19,999

$250 BTC: deposit $20,000 or more

To ensure that you receive the bonus, you must maintain a crypto balance of $25 or greater through the 14th of the month two and a half months from your eligibility month (account opening month). Eligible payouts occur on a rolling basis on or about the 15th of every month.

5. Ally invest — up to $3,500 cash bonus

Open a new self-directed account with ally invest by march 31, 2021, and make a qualifying deposit of new money or assets to earn up to $3,500 bonus cash. The bonus thresholds are:

$50: deposit $10,000 to $24,999 in new funds or assets.

$200: deposit $25,000 to $99,999 in new funds or assets.

$300: deposit $100,000 to $249,999 in new funds or assets.

$600: deposit $250,000 to $499,999 in new funds or assets.

$1,200: deposit $500,000 to $999,999 in new funds or assets.

$2,500: deposit $1,000,000 to $1,999,999 in new funds or assets.

$3,500: deposit $2,000,000 or more in new funds or assets.

To qualify for the bonus, you must fund the account within 60 days of opening. Once ally invest credits the bonus to the account, the combined bonus and qualifying deposit (less any trading losses) must remain in the account for 300 days. Otherwise, ally invest reserves the right to revoke the bonus.

Deposited funds must come from accounts that aren’t ally or ally subsidiary accounts. You must fund the new account with a minimum qualifying deposit of $10,000 or more to qualify for the minimum cash bonus.

The bonus is available to U.S. Residents, excluding current ally invest account holders, and ally invest account holders who closed their accounts within 90 days of applying.

Account transfer fee credit

Separately, ally invest credits up to $150 in transfer fees charged by other brokerages when you complete a first-time account transfer totaling $2,500 or more. That credit hits your account within 30 days of the transfer.

For more information about ally invest’s taxable brokerage accounts and iras with commission-free trades, read our ally invest review. To learn more about ally bank, ally invest’s parent institution, check out our ally bank review.

6. Citi wealth management — up to $3,500 cash bonus

Open a new eligible citi personal wealth management account by june 30, 2021, and make a qualifying deposit of new money or assets to earn a cash bonus up to $3,500. The bonus thresholds are as follows:

$500: deposit $50,000 to $199,999 in new funds or securities.

$1,000: deposit $200,000 to $499,999 in new funds or securities.

$1,500: deposit $500,000 to $999,999 in new funds or securities.

$2,500: deposit $1,000,000 to $1,999,999 in new funds or securities.

$3,500: deposit $2,000,000 or more in new funds or securities.

To earn this bonus, you must do the following:

Open and enroll your new citi private wealth management account

Make the qualifying new money deposit within 2 months of account opening

Enroll the account into e-delivery of statements within 2 months of account opening.

Maintain the new funding at least through the end of the third month (statement cycle) after account opening.

Eligible funds must be new to citibank and can’t come from or be combined with funds from any other citi accounts. This offer is available to new citi private wealth management clients only.

7. M1 finance — up to $2,500 transfer bonus

Open a new M1 finance account and initiate an account transfer within 60 days of sign-up to earn a transfer bonus of up to $3,500.

Plus, get a free year of M1 plus (a $125 value) when you open a new account by jan. 31, 2021.

The bonus thresholds for the cash bonus are:

$40 bonus: transfer an account worth $10,000 to $19,999.99.

$75 bonus: transfer an account worth $20,000 to $49,999.99.

$150 bonus: transfer an account worth $50,000 to $99,999.99.

$250 bonus: transfer an account worth $100,000 to $249,999.99.

$500 bonus: transfer an account worth $250,000 to $499,999.99.

$1,000 bonus: transfer an account worth $500,000 to $999,999.99.

$2,500 bonus: transfer an account worth $1,000,000 to $1,999,999.99.

$3,500 bonus: transfer an account worth $2,000,000 or more.

Your new M1 finance account type must match your old account type. The offer isn’t valid on ACH deposits, wire transfers or direct 401k rollovers. Once the transfer is received, you’ll receive payment within 90 days.

8. E-trade — up to $2,500 cash bonus

Open a new E-trade securities nonretirement brokerage account by jan. 31, 2021, using the promo code ‘BONUS20’, to earn up to $2,500 bonus cash. The bonus thresholds are:

$25: deposit or transfer $5,000 to $9,999 in new money.

$50: deposit or transfer $10,000 to $24,999 in new money.

$200: deposit or transfer $25,000 to $99,999 in new money.

$300: deposit or transfer $100,000 to $249,999 in new money.

$600: deposit or transfer $250,000 to $499,999 in new money.

$1,200: deposit or transfer $500,000 to $999,999 in new money.

$2,500: deposit or transfer $1,000,000 or more in new money.

You must transfer or deposit new funds or securities within 60 days of enrollment. All deposited or transferred funds must come from accounts outside E-trade and remain in the account (less any trading losses) for at least 12 months.

9. Betterment — up to 1 year managed free

Get up to one year managed free when you open a betterment robo-advisor account and make a qualifying deposit within 45 days. Bonus thresholds are:

1 month free: fund your account with $15,000 to $99,999 within the qualification period.

6 months free: fund your account with $100,000 to $249,999 within the qualification period.

12 months free: fund your account with $250,000 or more within the qualification period.

You can’t combine this offer with any other promotions, and it’s available to U.S. Residents only.

For more about betterment’s benefits, check out our lists of the best high-yield savings accounts and cash management accounts on the market today.

10. Charles schwab — up to $500 cash referral bonus

Open a new qualifying charles schwab account with a qualifying referral from an existing schwab client to earn a cash bonus of up to $500.

To qualify, ask a friend or family member with a schwab account to send you their unique referral code. Then use the code to open a new schwab account with an initial deposit or deposits totaling at least $1,000. Make one or more qualifying deposits within 45 days of your account opening date, and you’ll receive your cash bonus about a week later.

Your bonus amount depends on how much you deposit during the 45-day qualifying period:

$100: deposit $1,000 to $24,999 in new money or assets.

$200: deposit $25,000 to $49,999 in new money or assets.

$300: deposit 50,000 to $99,999 in new money or assets.

$500: deposit 100,000 and above in new money or assets.

Once your account is open, monthly fees may apply. Multiple members of the same household may qualify for bonuses individually, as long as they open separate schwab accounts.

11. Nvstr — up to $1,000 cash

Open a new nvstr account using this link to earn up to $1,000 in cash. There’s no minimum funding threshold or other hoops to jump through — just open your account, and nvstr rewards you with $10 to $1,000 cash.

There is one catch: nvstr chooses your reward amount at random, and it’s impossible to predict how much you stand to receive. Once the bonus is in your account, you must make at least one trade within three months and keep the bonus funds on deposit for a full year.

The cash offer is available to new nvstr users on live trading accounts only. Simulated trading accounts aren’t eligible.

Final word

If you’re a satisfied investor, you’d be forgiven for feeling no urgency to switch brokerages. Why fix something that’s not broken?

But the prospect of earning hundreds or thousands of dollars in brokerage bonuses is often reason enough.

Most of these brokerages take pains to ensure their new-account bonuses qualify as easy money. In many cases, moving assets to a newly opened account requires little more than completing an account application and authorizing an electronic funds transfer or asset rollover, a process that’s quick and painless enough to complete in a spare 15 minutes.

Even if you’re not ready to take advantage of these brokerage account bonuses, it still pays to add a review of the top brokerage promotions to your due-diligence to-do list for whenever you’re ready to start investing on a new trading platform.

Best brokerage account deals and bonuses right now: earn up to $3,500 with a new account

Get more cash to build wealth with these top brokerage deals and promotions.

Brokerage	brokerage bonus offer	bonus trigger
TD ameritrade	$350-$2,500	account opening and deposit minimum
M1 finance	$250-$2,500	account opening and transfer minimum
stash	$5	account opening and deposit minimum
betterment	1-12 months of free portfolio management	account opening and deposit minimum
blockfi	$15-$250 free bitcoin	account opening and deposit minimum
ally invest	$50-$3,500	account opening and deposit minimum
robinhood	$2.50-$200 worth of free stock	account opening
webull	$8-$1,600 of free stock	deposit minimum
charles schwab	$100-$500	account opening and deposit minimum
merrill edge self-directed	$100-$600	account opening and deposit minimum
E-trade	$25-$2,500	account opening and deposit minimum

If you’re unsure how to choose between this list of brokerage bonuses, these deciding factors on an investment brokerage will show you what to look for in a new account.

Best brokerage account bonuses right now

Building an investment portfolio can take time, but some top brokerage firms can help you with promotions, deals, referral bonuses and sign-up bonuses. Depending on how much money you have to invest, these brokers may offer to deposit a cash bonus into your account, give you free stock or provide fee-free investing for a set period.

If you’re looking for a new brokerage to help manage your portfolio, or if you’re a beginner investor who is excited to get started, check out these brokerage bonus offers to see how you can maximize your return.

1. TD ameritrade bonus: $350-$2,500

One of the largest brokers in the U.S., TD ameritrade provides a platform for all kinds of investors. It offers a robust set of resources and tools and doesn’t charge commissions on online trades of stocks, mutual funds and exchange-traded funds (etfs).

TD ameritrade’s requirements to earn a sign-up bonus are a bit steep, so less experienced investors may not qualify. But the broker’s platform is among the best. With commission-free on stocks, mutual funds and other securities, TD ameritrade is still worth considering for long-term investing needs.

Read our full review of the TD ameritrade bonus.

2. M1 finance bonus: $250-$2,500

If you’re looking for an online stock broker that provides both investing and banking services, M1 finance may be ideal. With just $100, you can open an account and start trading various securities — that includes fractional shares, which allow you to purchase portions of shares in publicly-traded companies and benefit from gains without needing a lot of money. Plus, as an added benefit, the platform offers free trades.

M1 finance’s transfer bonus requires new money to be deposited into your account by october 31, 2020.

While this robo-advisor doesn’t offer a cash bonus, the features alone make this online broker worth considering. In addition to DIY-investing and checking, M1 finance offers the chance to borrow on margin at a low interest rate, especially if you register for an M1 plus account. It even offers commission-free trading for both trade windows and cash-back rewards for everyday spending.

Read our full review of the M1 finance bonus.

3. Stash bonus: $5 slickdeals bonus

slick tip: use this slickdeals affiliate link to automatically receive your $5 bonus offer to invest.

If you’re relatively new to investing, meeting high deposit minimums may not be an option. With stash invest, though, you can get a bonus of $5 after you open a stash investment account and deposit $5 or more in new funds. While it may be a small incentive, it is a dollar for dollar match on your first $5 deposit.

That $5 sign-up bonus can be among your first dollars to invest with stash, and you can use it to trade stocks — including fractional shares — and etfs. Stash also offers a stock-back rewards program with its checking account, which means that you can earn rewards in the form of stocks when you make qualifying purchases with your stash debit card.

Just keep in mind that there’s a monthly fee that ranges from $1 to $9, depending on which features you want and how much you want to earn in stock-back rewards. However, like many online stock brokers, stash offers free trades which can help you to recover the cost of monthly fees.

Read our in-depth stash bonus review.

4. Betterment bonus: 1-12 months free portfolio management

One of the pioneers of robo-advising, betterment offers the chance to invest and bank all under one roof. On the investing side of things, the brokerage firm uses algorithms to manage your portfolio for you in exchange for a 0.25% annual fee. You can also upgrade to a premium plan with access to certified financial planners and advice for investments outside of betterment for a 0.40% annual fee.

For smaller investments, getting just one month for free may not amount to much. But it can give you some time to test-drive the platform and decide whether a robo-advisor is right for you.

5. Blockfi bonus: $15 – $250 in free bitcoin

slick tip: use this link and automatically earn your bonus after direct depositing the eligible bonus amount (see below).

Cryptocurrency is a relatively new investment option, and blockfi is taking innovative steps to allow investors to take advantage of it. You can use the broker’s platform to buy and sell various cryptocurrencies, interest on your investment and even use your cryptocurrency as collateral to borrow money.

Blockfi is currently running a new block interest account (BIA) promotion. Fund your new block interest account with $25 or more on or before november to earn a one-time bitcoin bonus of $15 to $250. You must be a new blockfi customer to qualify for this bonus.

Tier	deposit amount (new money)	BTC payout
tier 1	$25 – $249	$15
tier 2	$250 – $999	$20
tier 3	$1,000 — $4,999	$40
tier 4	$5,000 – $9,999	$75
tier 5	$10,000 – $19,999	$150
tier 6	$20,000+	$250

The blockfi interest account lets you put your crypto to work and earn monthly interest payments in the asset-type that you deposit with blockfi.

Blockfi bonus fine print

New clients who sign up through this referral link and fund their account during the current promotional period are eligible to receive $15 – $250 bitcoin bonus (in USDC) depending on their investment tier. The current promotional period is defined as the current calendar month ending at 23:59:59 UTC on the last day of the month.

Please note, this must be your first deposit, and you must maintain a minimum $25 crypto balance through the 14th of the month for two and a half months from the month of eligibility in order to remain eligible. Eligible payouts occur on the 15th of every month on a rolling basis. If the 15th falls on a weekend, then the bonus payout will occur by the end of the next business day. There is a maximum of one bonus per client. This offer cannot be combined with other trading offers. Trading qualifications are dependent upon geographical or regulatory restrictions. Terms subject to change.

Blockfi referral bonuses

Once you’ve become a blockfi customer, you are eligible for their referral program which provides referral links for you to share. For every person that signs up using your blockfi referral code and deposits $100 or more into their blockfi interest account, you and that friend will each earn $10 in BTC.

You can obtain a blockfi referral links by visiting the refer-a-friend landing page. Similarly, new promotions and past promotions are listed here on the blockfi promotions page.

6. Ally invest bonus: $50 – $3,500

Ally invest is an online-only bank that offers a variety of banking, lending and wealth management services. It also offers one of the biggest bonuses for new investing customers that we’ve seen. If you open an ally self-invest account by december 31, 2020 and fund it with a certain amount within the first 60 days of account opening, you can receive up to $3,500.

Ally invest features commission-free trades on eligible U.S exchange-listed stock, ETF, and option trades. In fact, at $0.50 per contract, ally invest offers low-cost fees for option trades and a wide selection of etfs from vanguard, globalx, ishares and more.

Ally invest offers high-yield etfs from market leaders that may complement your portfolio and help diversify your investing strategy

7. Robinhood bonus: $2.50 – $200 worth of free stock

Robinhood helped pioneer the mobile investing movement, as well as commission-free trades. The commission-free platform allows you to trade stocks (fractional shares included), options, cryptocurrencies and etfs, and there’s no minimum to get started.

What’s more, the broker’s bonus is easy to earn: simply open a new account, and you’ll receive a free stock worth between $2.50 and $200. With no barrier to entry, this one may be the best online stock option for inexperienced investors.

One thing to keep in mind, though, is that robinhood doesn’t offer retirement accounts. So you may want to consider another option if you’re hoping to open one of those.

8. Webull bonus: $8 – $1,600 of free stock

Another great mobile-first trading platform, webull offers the chance to invest in stocks, etfs and options (though you can’t trade fractional shares). Also, like robinhood, webull doesn’t require massive deposits to earn its welcome offer of free stocks. You can receive up to two free stocks each valued between $8 to $1,600 when you open an account with the broker and fund it with $100 or more.

The broker also offers several ways to earn more free stock, including through referral links and other ongoing promotions. If you’re just starting out or you’re not sure you want to move a lot of money, webull can get a great place to start.

In addition to offering free trades, another one of webull’s strengths is its investment in technical research, which can be a huge plus for experienced investors and others who want to learn.

9. Charles schwab: $100-$500

Like TD ameritrade, charles schwab is one of the largest brokers in the U.S., and offers a much wider range of investment options, resources, tools and other features than many of the smaller brokers on our list.

While the sign-up deposit requirements are a bit steeper than some other brokers, the lowest tier is still relatively accessible to investors with lower net worths.

10. Merrill edge self-directed account bonus: $100 – $600

Credit: merril

To earn the cash bonus, you’ll need to make your qualifying deposit of new funds within 45 days of opening your account, then keep it in the account for 90 days after that.

And remember, the sign-up bonus only works for merrill edge self-directed accounts, which is where you manage your own portfolio. If you open a guided investing account with a professional manager, you’ll be ineligible for the promotion. Merrill edge’s bonus is more accessible than many other broker bonuses, but still requires a good amount of cash to get the minimum amount.

11. E-trade brokerage and retirement accounts: $25 – $2,500

Credit: etrade

Once you meet the requirements, you’ll receive your cash bonus within seven business days. The offer is valid on new accounts opened by dec. 31, 2020, but you’ll have 60 days after that deadline to meet your deposit requirement. You also need to maintain the funds in the account (minus any trading losses you incur) for 12 months.

Best brokerage account deals and bonuses right now: earn up to $3,500 with a new account

Get more cash to build wealth with these top brokerage deals and promotions.

Brokerage	brokerage bonus offer	bonus trigger
TD ameritrade	$350-$2,500	account opening and deposit minimum
M1 finance	$250-$2,500	account opening and transfer minimum
stash	$5	account opening and deposit minimum
betterment	1-12 months of free portfolio management	account opening and deposit minimum
blockfi	$15-$250 free bitcoin	account opening and deposit minimum
ally invest	$50-$3,500	account opening and deposit minimum
robinhood	$2.50-$200 worth of free stock	account opening
webull	$8-$1,600 of free stock	deposit minimum
charles schwab	$100-$500	account opening and deposit minimum
merrill edge self-directed	$100-$600	account opening and deposit minimum
E-trade	$25-$2,500	account opening and deposit minimum

If you’re unsure how to choose between this list of brokerage bonuses, these deciding factors on an investment brokerage will show you what to look for in a new account.

Best brokerage account bonuses right now

1. TD ameritrade bonus: $350-$2,500

Read our full review of the TD ameritrade bonus.

2. M1 finance bonus: $250-$2,500

M1 finance’s transfer bonus requires new money to be deposited into your account by october 31, 2020.

Read our full review of the M1 finance bonus.

3. Stash bonus: $5 slickdeals bonus

slick tip: use this slickdeals affiliate link to automatically receive your $5 bonus offer to invest.

Read our in-depth stash bonus review.

4. Betterment bonus: 1-12 months free portfolio management

For smaller investments, getting just one month for free may not amount to much. But it can give you some time to test-drive the platform and decide whether a robo-advisor is right for you.

5. Blockfi bonus: $15 – $250 in free bitcoin

slick tip: use this link and automatically earn your bonus after direct depositing the eligible bonus amount (see below).

Tier	deposit amount (new money)	BTC payout
tier 1	$25 – $249	$15
tier 2	$250 – $999	$20
tier 3	$1,000 — $4,999	$40
tier 4	$5,000 – $9,999	$75
tier 5	$10,000 – $19,999	$150
tier 6	$20,000+	$250

The blockfi interest account lets you put your crypto to work and earn monthly interest payments in the asset-type that you deposit with blockfi.

Blockfi bonus fine print

Blockfi referral bonuses

You can obtain a blockfi referral links by visiting the refer-a-friend landing page. Similarly, new promotions and past promotions are listed here on the blockfi promotions page.

6. Ally invest bonus: $50 – $3,500

Ally invest offers high-yield etfs from market leaders that may complement your portfolio and help diversify your investing strategy

7. Robinhood bonus: $2.50 – $200 worth of free stock

One thing to keep in mind, though, is that robinhood doesn’t offer retirement accounts. So you may want to consider another option if you’re hoping to open one of those.

8. Webull bonus: $8 – $1,600 of free stock

In addition to offering free trades, another one of webull’s strengths is its investment in technical research, which can be a huge plus for experienced investors and others who want to learn.

9. Charles schwab: $100-$500

While the sign-up deposit requirements are a bit steeper than some other brokers, the lowest tier is still relatively accessible to investors with lower net worths.

10. Merrill edge self-directed account bonus: $100 – $600

Credit: merril

To earn the cash bonus, you’ll need to make your qualifying deposit of new funds within 45 days of opening your account, then keep it in the account for 90 days after that.

11. E-trade brokerage and retirement accounts: $25 – $2,500

Credit: etrade

£100 for opening bank account

Compare latest current account deals

Why we like it: no minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with retailer offers. Stress-free account switching in 7 days with the current account switch service. £300 ATM withdrawal per day, arranged overdraft facility (subject to status). Online and mobile banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the financial services compensation scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Why we like it: everyday current accout. No monthly account fee. Access to flexclusives - select credit card and low personal loan rate. Bank is registered with the financial services compensation scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Why we like it: free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: see what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best british bank and best current account in 2020 at the british bank awards. Awarded 5 stars by defaqto. Bank is registered with the financial services compensation scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Why we like it: earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. Bank is registered with the financial services compensation scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Why we like it: *2.00% interest for 12 months on balances up to £1,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Access to flexclusives - select credit card and low personal loan rate. Must be aged 18 or older. Bank is registered with the financial services compensation scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Why we like it: UK & europe breakdown cover, worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. Free mobile banking app, text alerts and secure online banking. Access to flexclusives - select credit card and low personal loan rate. £13 monthly account fee. Bank is registered with the financial services compensation scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Why we like it: can be opened by or on behalf of any child up to the age of 18. Debit or cash card available for those aged between 13 and 18. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 18 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the financial services compensation scheme (FSCS), so any money you keep will be fully protected, up to £85,000

How to earn £100 for opening a bank account

If you are looking to move your current account to a different provider, there are various factors to consider when making your choice. Issues like what interest rate you will pay on your overdraft and earn on your savings will be important, but for many switching incentives are a key decider.

Many providers now make current account switch offers, which include cash when you change accounts and cashback for things like having direct debits coming out of your account or paying household bills from the account. These benefits can swiftly add up and make a real difference to which account offers the best deal for you.

Between the various switching bonuses and cashback offers available on some of the most popular current accounts, it is possible for savvy switchers to earn £100 or more when they change account. The follow accounts will earn you at least £100 for opening a bank account either upfront or within the first year the account is open.

Is it worth opening a new bank account for a good switching offer?

When thinking about opening a new bank account, switching offers can be a good deciding factor, but it is also important to think about your long term needs. For example a santander 1|2|3 current account offers interest of 0.60% AER on your entire balance up to £20,000, plus cashback of between 1-3% on a range of household bills.

This may not be the most attractive offer upfront, but it means if you are likely to keep a large balance in your account and pay a number of household bills out of your account, the interest and cashback you earn can soon add up and outweigh most switching offers.

It is therefore a good idea to think about exactly what you need from a current account and how you are likely to use it before making a decision about opening a new bank account. This can help to ensure you get the most out of your account on an ongoing basis.

Find the best bank accounts to switch to

Whatever your reasons for opening a new bank account, it is a good idea to spend some time researching your various options before making the switch. Check out the range of current accounts on offer from across the market to see which offers the best deal for you.

Best bank account bonuses for january 2021

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If you’re wishing you had more savings right now, you’re not alone. Many americans impacted by the coronavirus are finding that they need additional funds to make ends meet. A bit of extra cash could be a big help. Fortunately, a number of banks are still giving out free stacks of cash.

In exchange for opening a new savings or checking account, you could wind up with an extra $200 or $300 dollars (or more). Shopping around for a new bank account isn’t exactly exciting, but at a time like this it could be worth your while.

Here are some of the best bank account bonuses in january. Compare these offers along with cds and other savings accounts that pay more interest. And check out other types of bonuses, too, like the best brokerage account bonuses.

Summary of the best bank account bonuses

Best checking account bonuses

Associated bank: $500 bonus

HSBC bank: $200 or $450 bonus

TD bank: $150 or $300 bonus

Huntington national bank: $150, $200, $400, $500 or $750 bonus

Suntrust (truist) bank: $200 or $500 bonus

Bank of america: $100 bonus

Axos bank: $100 bonus for new business owners

Best checking and savings account bonus

Best referral bonuses

Axos bank: $20 for referral and referee

Chase: $50 for each referral up to $500

Chime: $50 for referral and referee

TD bank: $50 for referral and referee

HSBC bank: $100, $250, $300 or $600 referral bonus

Best checking account offers

Associated bank: $500 bonus

Earn $500 when you open a new checking account with associated bank by may 31, 2021. To qualify, you must:

Not have opened an account with associated bank within the last six months.

Keep the account open for a minimum period of 12 months.

Receive direct deposits totaling $500 or more within the first 90 days of account opening.

Associated bank is based in green bay, wisconsin and has branches located in illinois, minnesota and wisconsin.

HSBC bank: $200 or $450 bonus

HSBC has a couple of checking account bonuses available online. Through jan. 7, 2021, you can earn:

$200 for opening an HSBC advance checking account online and receiving recurring monthly direct deposits totaling $500 for three consecutive months (from the second full calendar month after opening the account).

$450 for opening an HSBC premier checking account online and receiving monthly direct deposits of at least $5,000 for three consecutive months (from the second full calendar month after opening the account).

Another option is to opt for a bonus that pays 3 percent cash back (up to $600 for new premier checking account holders. This offer also expires on jan 7. To qualify, you’ll need to set up recurring direct deposits to an HSBC premier checking account at least once per calendar month for six consecutive months following the account’s opening month.

HSBC is based in mclean, virginia. It earned 3.9 out of 5 stars in bankrate’s full review of its products and offerings.

TD bank: $150 or $300 bonus

A $300 bonus is available for TD bank customers who:

Open a beyond checking account online.

Have never had a TD bank personal checking account.

Have at least $2,500 worth of direct deposit funds within 60 days of opening the account.

There’s also a $150 cash bonus if you’d prefer a convenience checking account (requires direct deposits of $500 within 60 days of opening the account).

Bonuses are available to residents in the district of columbia, pennsylvania and every state on the east coast except georgia.

TD bank is based in wilmington, delaware. In bankrate’s review of TD bank’s services and product offerings, it earned 3.5 out of 5 stars.

Huntington national bank: $150, $200, $400, $500 or $750 bonus

Huntington bank has a few checking account bonuses available for both consumers and business owners. Through jan. 7, 2021 you can earn:

$150 for opening an asterisk-free checking account and making a cumulative deposit of at least $1,000 within 60 days of the account opening.

$200 for opening a huntington 5 checking account and making a cumulative deposit of at least $1,000 within 60 days of the account opening.

$200 for opening a business checking 100 account and making a cumulative deposit of at least $2,000 within 60 days of the account opening.

$400 for opening an unlimited business checking account and making a cumulative deposit of at least $5,000 within 60 days of the account opening.

$500 for opening a huntington 25 checking account and making a cumulative deposit of at least $15,000 within 60 days of the account opening.

$750 for opening an unlimited plus business checking account and making a cumulative deposit of at least $20,000 within 60 days of the account opening.

These offers are only valid for residents of ohio, michigan, indiana, pennsylvania, kentucky, west virginia, illinois and wisconsin.
Huntington is based in columbus, ohio. In the full review of its banking products and offerings, the bank earned 3.4 out of 5 stars.

Truist (formerly suntrust and BB&T) bank: $200

Open a suntrust essential checking account online by march 31, 2021 and earn $200 by having direct deposits of at least $500 made per statement cycle for two consecutive cycles (within the first three months of opening the account). The promotional code you’ll need to use is CHECKINGQ121.

The offers are valid for residents of alabama, arkansas, georgia, florida, maryland, mississippi, north carolina, south carolina, tennessee, virginia or the district of columbia. To qualify, you cannot have an existing suntrust personal checking account or have closed one on or after july 9, 2020 suntrust and BB&T have now merged to become truist bank.

Bank of america: $100 bonus

New checking customers can earn $100 from bank of america when they open an account online. The offer expires june 30, 2021. To get the bonus, you must:

Not have had a bank of america personal checking account within the past six months.

Open a new advantage safebalance banking, advantage plus banking or advantage relationship banking account online.

Make an opening deposit ($25 opening deposit for the advantage safebalance banking account and $100 opening deposit for the others).

Receive two direct deposits of at least $250 each within 90 days of opening your account.

An offer code (DOC100CIS) is needed to qualify for the bonus.

Bank of america is headquartered in charlotte, north carolina. It earned 3.2 out of 5 stars in bankrate’s full review of its products and services.

Axos bank: $100 bonus for new business owners

New small business owners have the opportunity to earn a $100 bonus when they open a small business checking account with axos bank. The offer expires march 31, 2021. To get the bonus, you must:

Have incorporated your business after june 1, 2020

Maintain a daily balance of at least $2,500

All deposits must be new money

An offer code (NEWBIZ100) is needed when applying.

Axos is headquartered in san diego, california. It earned 4.6 out of 5 stars in bankrate’s full review of its products and services.

Best checking and savings account bonus

Chase bank: $150 or $200 bonus

Through jan. 20, 2021, chase is offering a bonus on new checking and savings accounts.

To earn $150, open a chase savings account and deposit a total of $10,000 or more within 20 days and maintain the balance for 90 days.

To earn $200, open a new total checking account and have a direct deposit totaling $500 or more within the first 90 days.

To qualify for the bonus, you must not have an existing chase fiduciary or checking account (or had one closed with a negative balance or within the last 90 days).

Chase bank has branches in 26 states including georgia and florida and in the western, southwestern, midwestern and northern parts of the country.

Our review of chase’s banking products and services gave the bank 3.4 out of 5 stars. Chase is headquartered in columbus, ohio.

Citibank: $200, $400 or $700 bonus

Customers in the market for a new checking and savings account can open both through citi and potentially earn a bonus.

To earn $300, open an eligible checking or savings account in the citibank account package. Deposit $15,000 within 30 days and maintain that balance for 60 days.

To earn $700, open checking and savings accounts in the citi priority account package. Deposit $50,000 within 30 days and maintain that balance for 60 days.

Both offers expire april 1, 2021. Citibank is based in sioux falls, south dakota. In bankrate’s review of citibank’s full suite of products and offerings, it earned 4.3 out of 5 stars.

Best bank account referral bonuses

Axos bank: $20 for referral and referee

Current axos customers have the opportunity to earn and give $20 for referring a friend to the essential checking account.

To qualify for the bonus, your friend must:

Not have owned an axos bank account

Use your personalized referral link

Add and maintain at least $500 for a full month

Receive a direct deposit of at least $100 within the first two months

If all requirements are met, both parties will receive $20 in their bank account.

Axos is headquartered in san diego, california. It earned 4.6 out of 5 stars in bankrate’s full review of its products and services.

Chase: $50 for each referral up to $500

Current chase customers can earn $50, up to $500 per calendar year, for each friend who opens a qualifying checking or savings account.

To qualify, your friend must:

Use your personalized referral link

Open a chase total checking, chase savings or chase college checking account

Be in good standing at the time of payout

The bonus your friend will receive depends on the type of account she opens and whether she completes the qualifying activities outlined in the bonus.

Our review of chase’s banking products and services gave the bank 3.4 out of 5 stars. Chase is headquartered in columbus, ohio.

Chime: $50 for referral and referee

Current chime customers can get $50 for each friend they refer. To qualify for the bonus, you must:

Be a new chime customer

Use your personalized referral link

Receive a single qualifying direct deposit of $200 or more from a payroll provider within 45 days of opening the account

If all qualifying activities are met, both parties will receive $50.

Chime is based in san francisco, california and is a neobank, meaning it strictly operates online and partners with a bank to hold your deposits.

TD bank: $50 for referral and referee

TD bank customers can earn and give $50 when they refer a friend to a TD bank personal checking account. To qualify for the bonus, your friend must:

Bring in a referral form with your information

Be a new TD bank customer

Receive a direct deposit of at least $250

OR make at least 15 debit card purchases within 60 days of opening the account

You can refer up to 10 friends per calendar year, meaning you could earn up to $500.

TD bank is based in wilmington, delaware. In bankrate’s review of TD bank’s services and product offerings, it earned 3.5 out of 5 stars.

HSBC bank: $100, $250, $300 or $600 referral bonus

Current HSBC customers have a few referral bonuses to choose from that range from as little as $100 all the way up to $600, with the opportunity to earn up to $2,000 per calendar year.

To qualify for each bonus, your friend must use your personalized referral code and complete the qualifying activities listed for each account.

Here are the current bonuses and what your friend will need to do to qualify for them.

$100 for choice checking: deposit and maintain a balance of $1,500 or receive monthly recurring direct deposits.

$250 for advance checking: deposit and maintain a balance of $5,000 or receive monthly recurring direct deposits or have an HSBC U.S. Residential mortgage.

$300 for fusion (business): deposit and maintain a balance of $5,000 within 30 days of account opening and register and logon to hsbcnet

$600 for premier checking: deposit and maintain a balance of $75,000 or receive monthly recurring direct deposit of at least $5,000, or have an HSBC U.S. Residential mortgage loan with an amount of at least $500,000

These offers expire on jan. 31, 2021.

HSBC is based in mclean, virginia. It earned 3.9 out of 5 stars in bankrate’s full review of its products and offerings.

Banks use sign-up bonuses to distinguish themselves from others in the industry. Cash bonuses also help financial institutions bring in new customers and new deposits.

While they could pay account holders a higher yield, for some banks, offering a bonus is preferable.

“it’s much easier to quantify the bonus than it is to raise the rate on what you’re paying out on deposits,” says greg mcbride, CFA, bankrate chief financial analyst.

Some banks, like chase, offer more than one sign-up bonus. But qualifying for multiple bonuses at the same time at the same bank usually isn’t possible. Bank account bonuses are typically available only to new checking or savings account holders.

What to watch out for

Every bank account bonus isn’t a good deal. Before you sign up, read the fine print.

Watch out for sky-high minimum balance requirements and monthly fees that could eat into your earnings. If earning a bonus seems to require too much effort, you might want to look for another one.

If you’re applying for a checking account, make sure it’s a good match that meets your needs. For example, if you need them, double-check that there are plenty of branches and atms in your area. That way, you’re not driving miles to meet with a banker or wasting money on out-of-network ATM fees. And with coronavirus forcing banking to shift online more than ever before, look for a bank or credit union that offers a solid set of digital tools.

If you’re looking for a new savings account, consider whether you’re better off finding another bank that pays more interest.

For instance, these one-time bonuses are typically offered on accounts that pay minimal interest. So while the bonus is great initially, you may be sacrificing the long-term return.

So, let's see, what we have: if you have extra cash that you’re looking to invest, brokerages are looking to reward new clients with attractive bonuses. Are you happy with your current broker or is it time for a change? Here are some of the best brokerage account bonuses. At bonus for opening stock account