Most bank bonuses come with lengthy waiting periods, even after meeting the requirements (like making a deposit or receiving a direct deposit). However, some forward-thinking banks are breaking the mold by offering immediate bonus payouts.
This regularly updated article highlights the fastest bonus opportunities currently available. While we only found two bonuses that credit instantly, we did uncover several high-dollar bonuses that hit your account in 15 days or less.
| Bank | Bonus | Timeline |
| MoneyLion | $5 instantly, then $50 after receiving a $100 direct deposit. | It takes two weeks after receiving a qualifying direct deposit for the $50 bonus to hit. |
| SoFi | $10 instant bonus. | Immediately. |
| Current | $50 | 10 business days. |
| Chase Total Checking | $200 | 15 days after the requirements are met. |
| Chase Secure Banking | $100 | 15 days after the requirements are met. |
| Upgrade Rewards Checking | $200 | Up to 60 days. |
About Instant Bank Sign-Up Bonuses
Banks offer bonuses to incentivize new customers to open accounts and meet certain requirements.
These requirements come in two main forms:
- Account opening bonuses. You receive a reward just for opening a new account, with minimal additional requirements. This is rare, but they do exist.
- Transactional bonuses. These require you to complete further activities to earn the full reward, like making a certain number of debit card purchases or maintaining a minimum balance.
Typically, you need to keep a new account open for 90 – 120 days before you can withdraw bonus funds without penalties. However, a few banks (see the offers below) offer exceptions with faster earning potential and access to your reward.
Banks are not the only businesses that offer rewards just for signing up. Various apps also provide signup bonuses. We cover the top get-paid-to-sign-up opportunities in a separate article.
#1. MoneyLion
- Offer: Up to $55 in bonuses.
- Initial bonus: $5 instantly upon account opening.
- Additional bonus: $50 for receiving a direct deposit of $100 or more.
- Requirements: No initial deposit is required to earn the $5. The direct deposit bonus is paid within two weeks of meeting the criteria.
- Fees: $1 monthly admin fee. The account can be closed any time with no fees or penalties.
- Expiration date: Not specified
MoneyLion has a multi-tiered bonus system and offers one of the few true immediate bank bonuses available.
You get a $5 bonus for activating your account. You can withdraw this $5 bonus immediately.
Additionally, MoneyLion incentivizes setting up a direct deposit. One transaction of $100 or more within 60 days of account opening rewards you with a $50 bonus. You can withdraw this bonus two weeks after meeting the requirements.
The account has a $1 monthly admin fee. However, you can close your account any time without affecting your accumulated bonuses
#2. SoFi
- Offer: $10 in rewards points.
- Requirement: Activate credit score monitoring through SoFi Insights.
- Credit check: Involves a soft pull.
- Fees: None.
- Expiration date: Not specified
SoFi’s Credit Insights bonus is a straightforward offer targeting new members. By activating credit score monitoring (a free feature within the SoFi app), new users can quickly earn $10 in rewards points.
The process is as follows:
- Create a new SoFi account.
- Within the SoFi app, activate the credit score monitoring feature.
- Receive 1,000 bonus points upon activation. (Points are worth 1 cent each.)
- Convert your points into $10, which is credited to your SoFi checking account.
You can then spend or transfer these funds immediately after they are added to your account.
SoFi also has a direct deposit bonus of up to $250 for new or existing members who initiate direct deposit transactions into their SoFi account.
Here’s how it works:
- Earn a $50 bonus for direct deposits between $1,000 and $4,999.99.
- Earn a $250 bonus for direct deposits of $5,000 or more.
#3. Current Bank
- Offer: $50 bonus.
- Requirement: Receive a direct deposit of $200 or more within 45 days of opening an account.
- Payout: The bonus will be deposited within 10 business days after meeting the requirements.
- Fees: None.
- Expiration date: Not specified
The Current digital banking platform offers a $50 signup bonus for new members.
To qualify:
- Sign up for a new Current account and enter the promo code WELCOME50
- Receive a single direct deposit of $200 or more from your employer or benefits provider within 45 days of account opening.
- Current will deposit the $50 bonus into your account within 10 business days after meeting the requirements.
While not the highest bonus, 10 days is one of the shortest time frames we found.
Current also offers benefits like no hidden fees, no minimum balances, and an integrated budgeting and savings platform.
Check out our full Current.com review to learn more about this modern banking platform.
If direct deposits are a roadblock, check out our list of the best bank promotions without a direct deposit.
#4. Chase Total Checking
- Offer: $300 bonus.
- Requirement: Receive direct deposits totaling $500 or more within 90 days of opening an account.
- Fees: $12 per month, which can be waived with an average daily balance of $1,500.
- Eligibility: Anyone who has not had a Chase checking account within the past 90 days, or a closed account with a negative balance in the last three years.
- Expiration date: 07/24/2024
Chase Total Checking stands out for its rapid bonus payout, where you’ll get a bonus of $300 into your account within 15 days of meeting the direct deposit requirement.
This short time for the bonus to hit, combined with a manageable direct deposit amount, positions it as one of the most attractive and quickly rewarding bank bonuses currently available.
Just hit the average daily balance of $1,500 to avoid any fees.
#5. Chase Secure Banking
- Offer: $100 bonus.
- Requirement: Complete 10 qualifying transactions within 60 days.
- Fees: $4.95 per month, waived with $250 or more of external deposits
- Eligibility: Anyone who has not had a Chase checking account within the past 90 days, or a closed account with a negative balance in the last three years.
- Payout: The bonus will be deposited within 15 days after the 10 qualifying transactions post.
- Expiration date: 07/24/2024
Chase Secure Banking offers a $100 bonus without a direct deposit requirement, making it unique among bank bonuses.
Instead, completing just 10 qualifying transactions — which include debit card purchases, Zelle transfers, ACH deposits, or online bill payments — within 60 days of account opening triggers the bonus, which is then deposited within 15 days.
To avoid the $4.95 monthly service fee, you need to make electronic deposits totaling at least $250 every month. These deposits can come from various sources, such as your job (payroll) or government benefits.
#6. Upgrade Rewards Checking
- Offer: $200 for new account holders.
- Requirement: Three debit card transactions within 60 days of opening an account.
- Payout period: The bonus is credited within 60 days after meeting the promotion’s conditions.
- Credit check: Involves a hard pull.
- Fees: None.
- Expiration date: Not specified
The Upgrade Rewards Checking Plus account offers a $200 bonus with a requirement of just three debit card transactions within 60 days of opening the account. Although the bonus hold time is up to 60 days, the three transactions are a minimal requirement for such a large bonus.
Notably, however opening this account involves a hard credit pull, which can impact your credit score.
The hard credit pull is because Upgrade isn’t your standard checking account.
The debit card combines the aspects of a credit card and a personal loan. Unlike traditional credit cards, it doesn’t have revolving credit lines. Instead, it allows you to spend up to a set limit and then converts the balance into an installment plan.
This model offers a fixed interest rate and set monthly payments, providing a predictable repayment schedule. However, no interest rate is charged if you pay your balance in full.
The card also offers 1.5% cash-back on all purchases, which is applied as a credit on the next month’s bill.
Brokerages Offering Immediate Sign-Up Bonuses
While instant bank bonuses are rare, investing platforms that give away free stocks are common.
Here’s a rundown of some of the best offers with the fastest time to withdraw:
- Webull. When you open and fund an account with any amount — even $1 — you get three free stocks valued at $3-$3000 each. Earn 30 fractional shares, each valued between $3 and $3,000, if you deposit $500. You can sell them immediately and withdraw the funds after 30 days. See the details of Webull’s free stock offer.
- Moomoo. Deposit $1,000 for 15 free stocks worth between $2 and $2,000 each. You can sell them after 60 days and then withdraw the funds immediately. See the details of Moomoo’s free stock offer.
- Robinhood. Sign up and get one free stock valued between $5 and $200, with no deposit required. You can sell after three days and withdraw the funds after 30 days. See the details of Robinhood’s free stock offer.
Strategies for Meeting Direct Deposit Requirements
Meeting direct deposit requirements for bank sign-up bonuses can be tricky, especially if you’re self-employed, unemployed, or working for a small business with limited payroll options.
While there are workarounds like using PayPal, Venmo or bank-to-bank transfers, it’s important to note that these methods can vary significantly in effectiveness from one bank to another. What works as a direct deposit substitute at one bank may not be recognized at another.
Doctor Of Credit lists user-submitted data points for those unsure about what qualifies as a direct deposit for each bank, showing what worked and what didn’t at various banks.
If you plan on using an unconventional direct deposit method, I highly recommend checking out the link above first.
Key Takeaways
As you can see, several banks offer lucrative signup bonuses that can provide quick cash.
While it does require some legwork upfront, you can earn hundreds of dollars simply by opening new accounts and meeting the bonus requirements.
Bank bonuses present a nice opportunity not just for the payout but also to test-drive a new banking platform. You may find one whose app and features are a great fit long-term.
Just remember that bonuses are often tied to holding periods, so read the fine print before withdrawing funds or closing an account early.
In addition to bank bonuses, some brokerages also offer cash incentives for new signups. However, these tend to have higher deposit requirements and longer holding periods.
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