7 bank accounts with cash bonuses of $200 or more

Right now, there are plenty of people looking for easy ways to boost their bank account balances. After all, persistent inflation is causing prices to climb for groceries, gas and other consumer goods. That, in turn, is having a drastic impact on how far most people's budgets will stretch.

Luckily, there are plenty of avenues to take if you need to earn a few extra bucks — including side hustles, gig work and even paid surveys. And, there are also bank account bonuses, which can be used to get some extra cash. And, it's easy to do. In most cases, all you have to do is open the account, meet a few requirements and then wait for the bonus to be deposited into your account.

Some banks are currently even offering cash bonuses worth $200 or more. If you qualify for one of these offers, it can be a great way to boost your bank balance without much extra work.

Get started and find out the top rates you could earn on your savings here now.

7 accounts with cash bonuses of $200 or more

There are several checking and savings accounts offering cash bonuses of $200 or more now. These include:

Savings accounts

SoFi Checking and Savings: $250 bonus

If you open a new SoFi Checking and Savings account (or currently have this type of account but haven't set up direct deposits yet), you can earn a bonus between $50 and $250 right now. And, it's a relatively simple offer to take advantage of. 

To qualify, you'll need to open the account and make at least one direct deposit. If you deposit between $1,000 to $4,999.99, you'll earn a $50 bonus. If you deposit $5,000 or more, you'll earn a $250 bonus. Plus, you'll also earn a high rate of interest on your money. Customers with direct deposits are eligible to earn 4.50% APY on their savings balance and 0.50% APY on their checking balance with this hybrid account.

Discover Bank Online Savings: $200 cash bonus

Are you planning to deposit a large amount of cash into a savings account? If so, Discover's Online Savings bonus may be worth taking advantage of. Right now, if you're a first-time savings customer with Discover, you can earn a cash bonus between $150 to $200, simply by making a deposit.

To earn a $150 bonus, you'll need to deposit at least $15,000 into your Discover Online Savings Account. To earn the $200 cash bonus, you'll need to deposit at least $25,000 into the account. You'll also earn an APY of 4.30% on your balance, so if you can swing the high deposit, it could be worth considering.

TD Bank: $200 bonus

You can earn $200 simply by opening a TD Signature Savings or TD Simple Savings account as a new customer. To qualify, you'll need to make a deposit of $10,000 or more — and will also need to maintain a balance of $10,000 or more for 90 days. 

If you can meet those requirements, you'll earn a couple hundred dollars for free with this account. Note, though, that this offer ends on October 31, 2023, and if you've had a money market or savings account with TD Bank within the last year, or if you've redeemed a savings bonus with this bank before, you aren't eligible for the offer.

Checking accounts

Huntington National: up to $600

There are two cash bonuses available through Huntington Bank's checking accounts right now. 

You can earn $400 for opening a Huntington National Perks Checking account and depositing at least $1,000 (cumulative) within 90 days. You can also earn $600 if you open a Platinum Perks Checking account and deposit at least $25,000 (cumulative) within the first 90 days.

However, it's important to note that these bonus offers are only available to residents of certain states (Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia and Wisconsin). If you don't live in one of these states, you'll have to consider one of the other bonuses on this list.

BMO: up to $500 bonus

If you don't currently have a BMO checking account, you may be eligible to earn between $300 and $500 simply by opening one of three checking accounts with this bank: Smart Advantage Account, Smart Money Account or Premier Account.

To earn a $300 bonus, you can open either a Smart Advantage Account or a Smart Money Account and deposit a minimum of $4,000 via direct deposit in the first 90 days. To earn a $500 bonus, you'll need to open a Premier Account and make a total of $7,500 in direct deposits within the first 90 days. 

Wells Fargo: $300 bonus

If you're looking for a big brick-and-mortar bank with an account bonus, Wells Fargo is currently offering a cash bonus of $300 to new checking customers. To qualify, you'll need to open a Wells Fargo Everyday Checking account and deposit at least $1,000 (cumulative) via direct deposit within the first 90 days.  

Note, though, that this offer ends on September 26, 2023.

M&T Bank: up to $200

If you want choices on the checking account you're opening, M&T is offering a $200 cash bonus if you open any of its checking accounts —EZChoice Checking, MyChoice Plus or MyChoice Premium checking — by September 30, 2023 and make a qualifying direct deposit.

And, this offer is easy to earn, even if you don't have a large amount of cash to deposit. All it requires is a direct deposit of at least $500 within 90 days to get the bonus.

Explore the top savings options for you here now.

The bottom line

If you qualify for one of these bonuses, it may be worth considering. While opening a new bank account can take a little extra work, you'll earn an extra $200 or more. And, in some cases, you could earn a lot more than that, simply by meeting the account requirements. Just make sure you are ready and able to do what it takes to qualify for the bonus before opening the account.