Besides credit card sign up bonuses and cash back, one other way I’ve earned a worthwhile amount of money is through bank sign up bonuses. Banks will sometimes offer sizable cash bonuses for new customers to open checking or savings accounts if you meet certain requirements. Some of the most common requirements are having reoccurring direct deposits into your checking account or depositing a certain amount into your checking or savings account within a specific time frame.
I will usually only attempt to open a new bank account if the signup bonus is large enough and the requirements are not burdensome, but googling highest bank sign up bonuses is something I haven’t really pursued in the past, or at least not until the beginning of this year.
I jumped on a $400 Capital One checking bonus offer in January and a $400 US Bank checking bonus offer that expires at the end of this month. If I wasn’t in school, wasn’t on my self proclaimed “decennial retirement” and had been working at the beginning of this year, I would have definitely doubled the $800 in signup bonuses by opening separate accounts for both me and Miss Money Elite, but our household only has one reoccurring direct deposit available at the moment.
Regardless, once I receive the $800 signup bonuses for the two accounts I opened up this year, that will bring my total earnings through bank signup bonuses to $2,000:
I don’t think $2,000 over four years is an insignificant amount of money. At least its not for me, especially considering the minimal amount of work I had to do for it, so this might be something you may wish to consider if the bonus amount and requirements make sense for you.
As I’ve said before, you’re not going to get filthy rich through signup bonuses but as I’ve tried to show on this website with other money-saving or money-making techniques, it can definitely add up over the years.
