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Many of the best banks are offering high bank account bonuses for new customers.
The highest bank account bonus today is available at BMO (Member FDIC). The brick-and-mortar bank is offering a cash bonus of up to $3,500 when opening BMO Relationship Plus Money Market Account. New customers may also be eligible for a BMO personal checking account bonus of up to $600.
By combining the checking and money market account offers, new bank account owners may be eligible to receive a bonus total of up to $4,100.
How to get a $4,100 BMO bonus
You'll need to open the BMO Relationship Checking Account and the BMO Relationship Plus Money Market Account and meet certain requirements to get a total of $4,100 in cash bonuses.
New customers are eligible for both bank account bonuses, as well as anyone who hasn't opened a personal BMO checking and money market account in the last 12 months.
To receive a $600 cash bonus on the BMO Relationship Checking Account, open the account online, by phone, or at a branch using a promotional code. Then receive a total of $7,500 or more in qualifying direct deposits during the first 120 days of opening the account. The cash bonus will be deposited into the checking account around 130 days after you've opened the account.
To receive a $3,500 cash bonus on the BMO Relationship Plus Money Market Account, you must also open an account using a promotional code. Promo codes are applied automatically online, and if you sign up to receive a promo code through email, the code can be used for opening both money market and checking accounts. Once you've opened the account, fund it with new money within the first 30 days of opening. (New money means any funds that aren't currently in a BMO bank account or were in a BMO account in the last 14 days.)
The amount of money you deposit into the money market account will determine how much you earn as a bonus:
- To earn $300, deposit $25,000 to $49,999.99 in new money
- To earn $500, deposit $50,000 to $99,999.99 in new money
- To earn $1,000, deposit $100,000 to $249,999.99 in new money
- To earn $2,500, deposit $250,000 to $499.999.99 in new money
- To earn $3,500, deposit $500,000 or more in new money
You'll need to maintain your new money balance from Day 31 to Day 120. Once you've completed all of the activities, the bonus will be deposited into your money market account around 130 days after you've opened the account.
More BMO checking account bonuses
If you don't qualify for the BMO Relationship Check Account bonus, the bank has more personal checking account bonuses available until December 8, 2023.
BMO Smart Money Checking and the BMO Smart Advantage Checking Account both offer a $400 checking account bonus, and the requirements for earning the bonus are the same. You'll have to open an account using a promotional code, and receive a total of $4,000 or more in qualifying direct deposits during the first 120 days.
Keep in mind that BMO Smart Money Checking and BMO Smart Advantage Checking have different perks. BMO Smart Checking doesn't charge any overdraft fees — it declines transactions when you overdraw. Meanwhile, BMO Smart Advantage Checking stands out because it's the only BMO checking account that doesn't have monthly service fees.
High bank account bonuses at other banks
If you'd like to consider more options, the following national banks also have high bank account bonuses. Our best bank account bonuses guide includes even more financial institutions with cash bonuses in addition to the ones mentioned below.
- Chase: Chase is offering cash bonuses ranging from $100 to $3,000 on eligible checking accounts, like Chase Secure Banking and Chase Private Client Checking. The highest cash bonus available at Chase is for Chase Private Client Checking. You'll need to receive a promo code and speak with a private client banker. Then deposit new money or securities into a combination of eligible accounts within the first 45 days. To get a $3,000 bonus, you'll have to deposit $500,000 or more. Lastly, maintain this money in your account for 90 days after opening the account. This bonus is available until October 18, 2023.
- Citibank: Citi is offering cash bonuses ranging from $200 to $2,000 on eligible checking accounts, like Citigold Checking and Citi Priority, via the bank's promotional page. To earn a $2,000 cash bonus, deposit at least $300,000 within 20 days of opening an account. The bonus is being offered until January 9, 2024.
- Huntington Bank: New Huntington Bank customers may qualify for a $600 cash bonus. To get the bonus, you'll open the Huntington Bank Platinum Perks Checking by October 7, 2023, with a bonus code, and deposit at least $25,000 within the first 60 days. You'll also have to maintain a $25,000 account balance for at least 90 days.
- U.S. Bank: Residents of certain US states may be eligible for a U.S. Bank checking account bonus of up to $500 if they're a new customer. To qualify for the checking account, open a new account by October 31, 2023, with a coupon code, 2023SEP. Then enroll in mobile or online banking and make two or more direct deposits within the first 90 days. A direct deposit totaling $5,000 to $9,999.99 receives a $300 bonus, and direct deposits of $10,000 or more receive a $500 bonus. You may also qualify for up to $400 when you open U.S. Bank Standard Savings. (Note: If you open Standard Savings and Smartly Checking at the same time, you'll earn bonuses for each plus an additional $100, for up to $1,000 total.)
The banks mentioned are all FDIC-insured. Federal insurance is important because it protects up to $250,000 per depositor, per category in a bank account in the event a bank fails.
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