Bank Account Bonus Month takes place in July in the United States. It reminds us to take a moment to think about opening a bank account. When most people consider opening a new one, they spend time searching for a bank that does not charge too many fees or has a physical branch located close by. The most important thing about Bank Account Bonus Month is that people will be paid for opening a new account. All the banks in the world will offer incentives to new customers in the form of “Bank Account Bonuses” to entice people this month!
History of Bank Account Bonus Month
Will & Chuck at Doctor of Credit started Bank Account Bonus Month. His purpose was to help people discover the greatest bank account bonus available at financial institutions everywhere. Both customers and banks get an advantage today. On one side, the banks hope to get new clients who would make their new account a primary one. On the other hand, people can open their first bank account and get a bonus for doing so.The process starts with understanding the requirements of opening an account and getting the bonus, and learning how to meet them. It is important to note, however, that banks do not lose money when they give these bonuses to their prospective customers. They recoup by applying monthly fees, a minimum number of debit card transactions, requiring direct deposits or bill payments through their bill service.A list of banks that offer these bonuses will be available everywhere this July. People can compare the bonus offers to find the best deals. There are other incentives too, like bonuses for opening a brokerage account. Bank Account Bonus Month is your chance to take the greed of financial institutions and turn it into extra cash for you!
Bank Account Bonus Month timeline
The very first bank account is opened in Mesopotamia.
After the Great Depression, the U.S. Government introduces new regulations to restore confidence in the country’s banking system.
The first universal credit card is introduced by the Diners' Club, Inc.
The first A.T.M. is installed at Chemical Bank in Rockville Center, New York.
The Bank of the United States, also known as the First Bank of the United States, opens for business in Philadelphia.
Bank Account Bonus Month FAQs
What is a checking account bonus?
It is a bonus that banks offer to new checking or savings account openers.
What day do I have to open an account to get the bonus?
Any day in July. There is no particular day to go to the bank, as long as it’s on or before July 31 and on a weekday.
What are the benefits of having a bank account?
It is an easy, cheap, and convenient way to save money.
Bank Account Bonus Month Activities
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Open your first bank account
Take advantage of the Bank Account Bonus Month to open your very first bank account and earn a bonus. Open savings accounts for your kids too, and use their bonus to get them a treat.
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Share the information
Believe it or not, this holiday is quite obscure. Not many people know about the new-account bonuses either. So spread the love by sharing the information for your neighbors and loved ones to take advantage of. Maybe one of your friends doesn’t even have a bank account! They can open their very first one and get a little extra cash. They’ll owe you one.
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Use the bonus
Once you’ve opened a bank account and gotten a bonus, you can spend it how you like. You can have dinner in a fancy restaurant, or buy something you’ve been postponing. It is free money, so you can do whatever you want!
5 Banks That Offer Bank Account Bonuses In The U.S.
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Citibank
They offer up to $1,500 bonuses.
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BMO Harris
They offer up to $350 bonuses.
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M&T Bank
They offer up to $250 bonuses.
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Monifi
They offer $250 bonuses.
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Chase Bank
They offer $225 bonuses and $100 to college students.
Why We Love Bank Account Bonus Month
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It offers extra cash
By opening a new bank account, you can garner a little extra cash. Use this money for whatever you need.
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A bank account has its benefits
Bank accounts are safe, and an easy way to save money. They can also help you keep track of what you earn and what you waste.
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Access to credit
If you want to acquire a home, a car, or a student or personal loan, open a bank account. Banks favor existing customers for these things, particularly those who manage their money well.
Bank Account Bonus Month dates
| Year | Date | Day |
|---|---|---|
| 2023 | July 1 | Saturday |
| 2024 | July 1 | Monday |
| 2025 | July 1 | Tuesday |
| 2026 | July 1 | Wednesday |
| 2027 | July 1 | Thursday |
