If you’re trying to find banks that give you money for signing up without a direct deposit, you’re out of luck. All the banks with bonus offers for new accounts we have been able to find require some form of deposit. So, there’s no such thing as a bank that offers an instant sign up bonus with no deposit required at the moment.
Despite this, you can still get a nice cash bonus when you create an account with certain banks and deposit money to it.
The best banks and brokers with instant sign up bonus in 2023
Here are the best bonus offers provided by banks and brokers that will allow you to get a bonus in exchange for signing up.
Upgrade is a neobank that provides a bonus of up to $200 to customers who open a Rewards Checking Plus account and make at least 3 debit card transactions (ACH transfers and ATM transactions don’t count).
You must be a new Upgrade customer to be eligible for this bonus offer, and your account has to be open and in good standing to get the bonus. The bonus is paid out within 60 days after you become eligible, which is a relatively short time compared to many other banks that offer sign up bonuses.
The Upgrade Rewards Checking Plus account offers 1.5% cashback rewards for all purchases, but cashback rewards can go up to 3% depending on the type of purchase. Upgrade also allows customers to open credit lines ranging from $500 to $50,000.Bonus offer expiration date: N/A Bonus amount: $200 Requirements: 3 debit card transactions within 60 days, must be new customer Minimum deposit required: N/A
Citi offers a bonus of up to $2,000 for customers who open a checking account. For a $200 bonus, your account must have a minimum balance of $10,000. In order to receive the bonus, you have to maintain the minimum balance for a period of 21 days, and then maintain it for an additional 60 days. After this period, you will receive the cash bonus within 30 days.Bonus offer expiration date: January 9, 2024 Bonus amount: $200 to $2,000 Minimum deposit required: $200 bonus - $10,000 minimum $500 bonus - $30,000 minimum $1,000 bonus - $75,000 minimum $1,500 bonus - $200,000 minimum $2,000 bonus - $300,000 minimum
At the moment, Axos Bank offers a $300 bonus to customers who open an Axos Bank Rewards Checking account using the “SUNNYBONUS” code. After opening the account, the customer has to fund it within 30 days.
The requirements for getting the $300 bonus from Axos Bank are quite steep. It requires direct deposits of at least $5,000 for each month during the first 7 months after the account is opened. Customers also have to maintain an average daily balance of at least $7,000 during this period, and the account must remain open for at least 210 days for the customer to remain eligible for the bonus.Bonus offer expiration date: December 31, 2023 Bonus amount: $300 Minimum deposit required: minumum $5,000 direct deposit each month for first 7 months, average daily balance of at least $7,000
Chase offers a $200 bonus for new customers who open a checking account with the bank. In order to qualify, the customer has to make direct deposits totaling at least $500 in a 90-day period after opening the Chase account.
For your direct deposit to qualify, it must be in the form of an electronic transfer representing your salary, pension, or government-issued benefits from your employer or a government agency. It's important to note that person-to-person payments like those conducted through Zelle do not meet the criteria for a direct deposit in this context.Bonus offer expiration date: January 24, 2024 Bonus amount: $200 Minimum deposit required: At least $500 in total deposits in 90 days
PNC is offering a bonus of up to $400 to customers who open and use their Virtual Wallet product. The Virtual Wallet provides both checking and savings accounts, and allows custors to manage their money digitally in one place.
The bonus amount depends on what type of Virtual Wallet the customer opens. The bonus for Virtual Wallet customers is $100, the bonus for Virtual Wallet with Performance Spend customers is $200, while the bonus for Virtual Wallet with Performance Select customers is $400. However, it’s important to note that the minimum deposit amounts increase with each tier, and the qualifying direct deposits must be made within 60 days after the account is opened.Bonus expiration date: October 31, 2023 Bonus amount: Between $100 and $400 Minimum deposit required: $100 bonus: $500 in total direct deposits $200 bonus: $2,000 in total direct deposits $400 bonus: $5,000 in total direct deposits
Robinhood is an online stock and crypto trading platform that offers new customers a free fractional share when their brokerage account is approved. After getting the fractional share, you can either hold it or sell it after a period of two days. Each user is only allowed one free fractional share.
An interesting aspect of this promotion is that the share is chosen randomly, and the share you receive could be worth between $2.5 and $200. However, the chance of the stock having a value between $50 and $200 is only about 1%, according to Robinhood. Most likely, you will receive a fractional stock worth between $2.5 and $10.Bonus expiration date: N/A Bonus amount: Between $2.5 and $200 Minimum deposit required: N/A
Webull is an online broker that offers between 6 and 12 free stocks to new customers. The reward is selected randomly and can be $18 at the low end or up to $36,000 at the very high end (although this is extremely unlikely). Based on the odds, you’re most likely to receive $18 worth of stocks for free although you can get some more value if you get a bit lucky.
You can deposit any amount to be eligible for this promotion after you open a new account on WeBull. However, you need to claim this reward within 30 days after opening the account or the bonus will no longer apply.Bonus expiration date: N/A Bonus amount: Between $18 and $36,000 Minimum deposit required: Any amount
The bottom line
You will almost always need to make a deposit to get a substantial bonus, and we haven’t been able to find any instant sign up bonus no deposit bank accounts at the moment. You can get a free stock bonus on Robinhood or Webull by only depositing a very small amount, although these bonuses will likely be much lower than the bonuses offered by banks to customers who deposit larger amounts into their checking accounts.
While we’re on the topic of banks, make sure to check out our article highlighting the best crypto-friendly banks in 2023.