Top Bank Account Bonuses This Week, Plus a Bigger Savings APY Boost

Best bank bonuses available this week

SoFi Checking and Savings (Member FDIC): Earn $50 or $400 and a +1.10% boost on Savings APY with direct deposit. Terms apply.

Western Alliance Bank High-Yield Savings by Raisin: Earn up to $1,000 with code STACK

CIT Platinum Savings: Earn up to 4.25% APY with promo code BOOST50

Barclays Tiered Savings: $200 bonus with qualifying activities. Terms apply.

Why these bank bonuses can be appealing

If you're considering a bank switch, a sign-up bonus can make the move more rewarding. Many banks are offering cash incentives, sometimes worth several hundred dollars, for opening a new account and meeting a few basic conditions.

In many cases, the requirements are straightforward: set up direct deposit on a checking account, make a few debit card purchases, or keep a certain balance in the account for a set period. Still, it's important to review the details carefully, since missing a requirement could cost you the reward.

These bonuses are also taxable income. If you receive more than $10, you should expect a 1099-INT at tax time.

In short, if you're already planning to move your money, a cash bonus can be a useful extra perk.

How to meet the bonus requirements

Most bank bonuses are fairly easy to earn, provided you follow the rules. Typical requirements include:

• A qualifying direct deposit within 30 to 90 days after opening the account
• For savings bonuses, depositing a larger amount and leaving it untouched for several months
• In some cases, only a few debit card purchases or one or two bill payments

Before applying, spend a few minutes reading the terms. Making sure the offer fits your normal banking habits can help you avoid missing out.

Things to keep in mind

Not every bank promotion is as simple as it first appears. Some accounts charge monthly fees unless you meet certain conditions, such as maintaining a minimum balance or arranging recurring deposits. In addition, some offers exclude people who have recently held an account at the same bank.

Even when you complete every step, the bonus may not arrive right away. In some cases, it can take up to 90 days to appear in your account.

To save you time, we've rounded up this week's most straightforward bank offers worth considering.