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5 Highest Paying Checking Account Bonuses in 2022

Switching bank accounts can be, in a word, inconvenient. Switching over your information, informing your employer of the change, and ensuring that everything is filled out appropriately is simply more work than most people are willing to do in their down time. Most banks know this, which is why they always work so hard to sweeten the deal.

Right now, banks all over the country are fighting for your business. Better yet, you don’t even have to leave the comfort of your home to take advantage of some of the biggest bonuses ever.

Today, we’re going to take a look at five of the highest paying checking account bonuses available right now. So, you can save some time and earn you a little extra money.

Checking vs. Savings Account

Walking into a bank branch with the intention to sign up for a new account can be a bit intimidating. The suits, the fancy jargon, and the seemingly endless account options don’t help make things easier either. In truth, it really doesn’t have to be that complicated.

One of the first things to determine is the difference between the two primary banking accounts: a checking account and a savings account.

A checking account is the day-to-day workhorse of the consumer banking industry. This is where just about everyone keeps the money that they use to fund daily expenses, pay bills, and accept direct deposits from their employer.

On the other hand, savings accounts are meant to hold and store money over a longer period of time. These accounts aren’t usually linked to an ATM card. As such, they can sometimes come with minimum balance requirements, transaction limits, and even a limit on withdrawals.

Most consumers have at least a checking account. Millions of Americans making use of both a checking and savings account.

Bank vs. Credit Union

Customers also have the ability to pick between banks and credit unions. Though the both provide similar services, the way they’re organized are significantly different. And those differences can have a sizable impact on your bottom line.

When measuring banks against credit unions, much of the difference comes down to ownership and profits.

A bank is a for-profit institution with a sweeping network of branches, online resources, and service staff. Doing business with banks is likely much easier, due in large part to their size and pool of resources.

Credit unions are nonprofit organizations that are owned by the customers themselves. Credit unions focus their attention regionally, often limiting their reach to a specific geographic area. They may not have as many ATMs available or a fancy app. Instead, credit unions often offer better interest rates, lower fees, and a more personalized customer service experience.

SoFi Checking and Savings Account – $300 Bonus

SoFi wants to get you started on the right foot and with a little extra in your pocket.

New members who open both a SoFi Checking and Savings account with direct deposit will receive a $300 bonus and earn up to 2.50percent APY. If that isn’t sweet enough, SoFi accounts don’t charge account fees.

Talk about a great deal!

Citigold Checking Account – Up to $2,000 Bonus

You could stand to receive a sizable welcome bonus when you open a new checking account with Citigold. Open one right now, deposit your qualifying funds within 20 days of account opening, and maintain that balance for an additional 60 days to unlock your bonus.

A minimum deposit and minimum balance of $10,000 will earn you a $200 bonus. Those that plan to deposit more money into their new account could be eligible for as much as a $2,000 bonus.

U.S. Bank’s Bank Smartly Checking – Up to $500 Bonus

Open a new U.S. Bank Smartly Checking account online, in a branch, or over the phone right now and you could earn a bonus of up to $500. All you’ll need to do is complete two or more direct deposits within 60 days of opening your new account.

If your direct deposits total $3,000, you’ll earn a bonus of $300. If your direct deposits total $6,000 or more, you’ll receive a $500 bonus.

Not bad for a few clicks of a mouse.

TD Beyond Checking – $300 Bonus

TD Bank isn’t going to let all of their competitors scoop up their customers without putting up a fight. As such, you could be eligible for a $300 bonus after opening a new TD Beyond Checking account.

New customers must receive qualifying direct deposit funds of $2,500 or more within 60 days of opening the account. Furthermore, maintain a minimum daily balance of $2,500 to have the monthly maintenance and ATM fees waived.

Chase Total Checking – $200 Bonus

There’s a reason so many people are rushing to open a Chase Total Checking account. The bank is offering new customers a $200 bonus. To qualify, customers must open a new Chase Total Checking account and set up direct deposit within 90 days of enrollment.

New enrollees can even save their monthly service fee by:


It pays to spend money. Switching over to one of the checking accounts mentioned above could bring you that much closer to whatever it is you’ve been saving for. You need a checking account anyways, so switching to one that pays you a sizable bonus is an absolute no brainer.

Banks and credit unions are always fighting to steal you and your money away from their competitors. As a result, the sizable checking account bonuses on offer can change in the blink of an eye. Don’t miss out on your chance to earn free money. As such, it pays to always be on the lookout for the next greatest checking account bonus.