In today’s world, banking isn’t just a means to store your money—it’s also an opportunity to earn some extra cash. With the right bank account, you can earn free money through sign-up bonuses, interest payments, and rewards. These types of accounts are designed to incentivize new customers, encourage savings, and help you grow your wealth effortlessly.
If you’re tired of your current bank offering zero rewards or benefits, it’s time to explore options that could put money directly in your pocket. Here are five bank accounts that will give you free money just for opening and using them.
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Toggle1. Chase Total Checking® + Chase Savings Account
Sign-Up Bonus: Up to $500
Chase offers a combination of checking and savings accounts that provide one of the most attractive sign-up bonuses. When you open a new Chase Total Checking® account and set up direct deposits of $500 or more within the first 90 days, you can earn a $200 bonus.
Additionally, you can maximize your earning potential by opening a Chase Savings account. If you link the savings account to your checking account and deposit a minimum of $25 within 20 days, you’ll earn an extra $50.
How to Maximize Earnings:
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Make sure to meet the direct deposit requirements for both accounts.
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Use your Chase Savings account to earn interest over time.
Other Perks:
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Access to more than 16,000 ATMs and 4,700 branches nationwide.
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Free access to tools like budgeting and tracking your spending.
2. Discover Cashback Debit Account
Sign-Up Bonus: Up to $360 annually (depending on your spending)
If you’re looking for a rewards-based checking account, the Discover Cashback Debit account is an excellent choice. This account offers 1% cashback on up to $3,000 in debit card purchases each month. So, you could potentially earn up to $360 annually just by using your debit card for everyday purchases.
How to Maximize Earnings:
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Make frequent purchases with your Discover Debit card—gas, groceries, and other routine expenses.
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Ensure you stay within the $3,000 monthly spending cap to maximize cashback earnings.
Other Perks:
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No monthly fees or minimum balance requirements.
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60,000+ ATMs with no fees.
3. Citi® Accelerate Savings Account
Sign-Up Bonus: Varies by location (typically $200 or more)
The Citi® Accelerate Savings account offers one of the highest interest rates in the market for savings accounts. While interest rates fluctuate, you can typically earn between 0.50% and 1.00% APY (annual percentage yield), which is much higher than the national average for regular savings accounts.
Citi also often runs promotions offering sign-up bonuses of $200 or more if you meet the initial deposit requirements.
How to Maximize Earnings:
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Keep a high balance in your Citi Accelerate Savings account to take full advantage of the interest.
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Watch for special promotions to take advantage of bonus offers.
Other Perks:
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24/7 customer service.
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Access to a wide range of financial tools and calculators.
4. SoFi Checking and Savings Account
Sign-Up Bonus: $50 for opening an account, plus up to 4.00% APY on savings
SoFi is making waves in the financial world by offering an innovative Checking and Savings Account that provides rewards and high interest rates. For new account holders, SoFi offers a $50 sign-up bonus when you set up direct deposit.
But what makes this account particularly attractive is its high savings rate. SoFi offers up to 4.00% APY on savings, which is significantly higher than most traditional banks. This means your balance can grow faster without any effort.
How to Maximize Earnings:
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Set up direct deposit to qualify for the sign-up bonus.
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Use your SoFi Savings account to earn a high yield on your balance.
Other Perks:
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No account fees or minimum balances.
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Free access to over 55,000 ATMs nationwide.
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Tools for budgeting, investing, and financial planning.
5. Axos Bank Rewards Checking
Sign-Up Bonus: Up to $200
Axos Bank offers a high-reward Rewards Checking account that comes with several attractive features, including the chance to earn up to $200 in bonuses. To earn the bonus, you’ll need to meet specific criteria, such as making a certain number of transactions or maintaining a minimum balance.
Axos also offers a cashback rewards program, which allows you to earn 1% cashback on eligible purchases, up to $100 a month.
How to Maximize Earnings:
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Meet the transaction requirements to unlock the sign-up bonus.
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Use your Axos debit card for purchases to take advantage of the cashback rewards.
Other Perks:
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No monthly fees if you meet the requirements.
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Access to over 24,000 ATMs nationwide.
Final Thoughts: Free Money Is Just a Bank Account Away
These five bank accounts demonstrate that it’s possible to earn free money simply by opening an account and meeting certain requirements. Whether you’re looking for a high-interest savings account, cashback on purchases, or a combination of both, these banks provide valuable incentives to grow your finances without the need for major investment or effort.
To truly maximize the benefits of these accounts, it’s important to understand the fine print, stay on top of required deposits or transactions, and avoid unnecessary fees. With a bit of planning, you could be well on your way to earning free money while managing your finances.
So, why not put your money to work for you? Find the right account, and start earning today!