Just be sure to read the fine print and ensure you meet all of the requirements. If you’re in the market for a new bank account and you have some liquid cash available to make the move, here are some of the best bank account sign-up bonuses available today to help add to your bankroll. In addition, they should take into consideration the potential for an ongoing, long-term relationship with a new bank, regardless of the initial incentive.” Top 10 sign-up bonuses for September 2023 “In most cases, these offers are legitimate however, consumers need to pay attention to the nuances of each offer to see if the account requirements align with their usual banking habits.

“Focusing on the customer means so much more than just providing attractive deals.”Īnother thing to consider: “Often, sign-up bonuses come with stipulations that are geared toward the adoption of products and services that drive transactional behavior,” Catlender says. “A quality bank will be focused on all aspects of the consumer experience, including convenience, reliability, ease of use, and personalized support,” she says. However, she adds, it’s critical to look closely at the fees: “Some accounts have impressive sign-up bonuses, but their high fees can end up eating away at your bonus.”Īnd although these high-dollar offers can certainly be eye-catching, Katie Catlender, chief customer officer at Cambridge Savings Bank, says they should not be the deciding factor in a consumer’s search for a new banking partner. Indeed, sign-up bonuses can be great incentives to open an account, says NerdWallet personal-finance expert Elizabeth Ayoola. While some have boosted interest rates for various savings products to attract new customers - like high-yield savings accounts (see some of the best rates here), checking accounts, money-market funds and CDs, to name a few - others have added hefty sign-up bonuses. As the benchmark funds rate continues to go up and the cost to pay off a bank’s own debt increases in the process, many financial institutions have taken up some strong measures to raise cash.

Why are we seeing such big sign-up bonuses?Īfter more than a year of elevated levels of inflation, the Federal Reserve has responded to heightened consumer prices by raising interest rates.

Online banking with sign up bonus