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About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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Bank Deals Blog: Bank Bonuses and Promotions

CommunityAmerica Credit Union's Competitive 14-Mo CD & Checking Bonus
Deal Summary: 14-month Share Certificate, 1.00% APY, $500 minimum deposit. $150 checking bonus.

Availability: Field of membership includes eight Kansas and three Missouri counties.

Added to the product line less than two months ago, CommunityAmerica Credit Union’s (CommunityAmerica) 14-month Share Certificate currently earns 1.00% APY. The minimum opening deposit is $500, with no stated balance cap.

The 14-month Share Certificate is also available as an IRA Share Certificate (Traditional, Roth, CESA), earning the same APY with the same deposit requirements.

The 1.00% APY is, by far, the most competitive...

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Capital One Offers $100 Bonus for New 360 Checking Account
Deal Summary: $100 bonus for opening a new 360 Checking account.

Availability: Nationwide through online application.

As we’ve started to experience record low interest rates, bank bonuses are becoming more attractive as an alternative to earning interest. This new checking account bonus from Capital One is much smaller than the savings account bonus Capital One offered earlier this year, but it's an easy bonus in which you can earn $100 without a large funding amount or direct deposit.

Now through October 20, 2020, Capital One is offering a bonus of...

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TruStone Financial Credit Union Offers $150 Checking Bonus
Deal Summary: $150 checking bonus available now through August 16, 2020.

Availability UPDATE: 7/23/2020 - Easy membership requirement within “footprint.” Details in Availability section below.

Now through August 16, 2020, Minnesota-based TruStone Financial Credit Union (TruStone Financial) is offering a $150 cash bonus on new checking accounts. TruStone Financial offers three different checking accounts, including a rewards checking account, and all three are eligible for the bonus.

$150 Bonus Requirements

Qualifying for the cash back bonus is dependent on completing two requirements within 45 days of account opening:

  • Total...
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$200 Checking Bonus At Georgia's Own Credit Union
Deal Summary: $200 bonus when opening a Perks+ Checking Account online, between now and August 31, 2020. Requires six debit card transactions and direct deposit totaling at least $1k per statement cycle.

Availability: Easy membership requirement for George residents.

Now through August 31, 2020, Georgia’s Own Credit Union (Georgia’s Own) is offering a $200 bonus when opening a Perks+ Checking Account online. Bonuses like the one offered by Georgia’s Own have become more attractive, now that interest rates have fallen to such low levels.

$200 Bonus...

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PenFed Offers $200 Bonus for New Access America Checking Account
Deal Summary: $200 bonus for opening the Access America Checking, depositing at least $1,200, and making at least 5 debit card purchases within 90 days.

Availability: Easy membership requirement

PenFed Credit Union (PenFed) used to offer very competitive CD rates. My last post was in early 2019 when its 5-year CD yield was over 3%. Unfortunately, PenFed’s CD rates have been uncompetitive for some time, with rates much lower than what online banks are offering. However, there is another reason for me to write about PenFed. The Credit Union is...

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Checking Account Bonus of Up to $400 at First Merchants Bank
Deal Summary: Checking account bonus of up to $400, requirements include $500 direct deposit, $15k balance to avoid monthly fees.

Availability: Parts of Illinois, Indiana, Ohio and Michigan

With interest rates falling, bank bonuses can be a way to offset the loss of interest earnings. New account bonuses do require some work and the accounts are rarely something that you’ll want for the long term. Nevertheless, a bonus in which you can earn a few hundred dollars can be worthwhile in today’s environment.

Here’s a checking account bonus in which...

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Earn Up To $500 When Opening a New Capital One 360 Performance Savings
UPDATE 4/27/20: Bonus has been extended from March 31 to May 31, 2020. Promo code has been changed from NEW500 to SCORE500.

Deal Summary: Bonus between $100 and $500 when opening a new 360 Performance Saving account with $10k-$50k deposits of new money.

Availability: Nationwide through online application.

Now through May 31, 2020, Capital One is offering a bonus of up to $500 when opening a new 360 Performance Savings account.

Qualification requirements are straight-forward and include,

  • Open a new 360 Performance Savings account by May 31, 2020, using promo...
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Ally Bank’s New 1% Cash Bonus Promotion
Deal Summary: Bonus amount ranges from $10 ($1k of new money) to $250 ($25k of new money).

Availability: Nationwide (internet bank) for new and existing customers.

This morning, Ally Bank introduced another 1% cash bonus promotion that’s similar to its 2018 payback promotion. Both new and existing customers can qualify. With interest rates falling (as they did at Ally this morning), these cash bonuses are a nice way to boost your interest earnings.

Like the 2018 promotion, this new one allows you to earn a 1% cash bonus, but the limits...

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CIBC Offers Bonus of Up to $400 on Its Agility Savings Account
Deal Summary: $200 or $400 bonus when opening a new CIBC Agility Savings account, available through March 16, 2020.

Availability: Nationwide (online-only account)

As rates fall on savings accounts, a cash bonus is a good way to offset the lower interest rates. For banks, a bonus can be a good way to attract new savings account customers without having to pay a high rate. The latest bank to offer a cash bonus on its online savings account is CIBC Bank USA (CIBC). It’s offering a cash bonus of up...

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CIT Bank Unveils $150/$300 Savings Builder Bonus
Deal Summary: $150 or $300 bonus when opening a new Savings Builder account, available through May 30, 2020.

Availability: Nationwide (internet bank)

If you experienced a little DA déjà vu when you read the above Deal Summary, that’s probably because I wrote about a previous CIT Bank Savings Builder bonus about three weeks ago.

Now through May 30, 2020, CIT Bank is offering a cash bonus of $150 or $300 when opening a new Savings Builder account using promo code “Spring20.” (This new-and-improved bonus is definitely an upgrade on...

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