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Best Bank Bonus Now Without Direct Deposit Requirement

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Bank bonuses can be a great way to make a few extra hundred bucks. But boy, are those direct deposit requirements annoying!

Luckily, there are plenty of bank promotions without direct deposit requirements.

Whether you want to earn your bonus by referring friends…

Or making a large deposit into a new checking account …

Or if you’re just looking to earn a high yield on your savings…

You’ve got options.  

Read on and I’ll not only reveal every best bank bonus now that you should know about, but how to get them.

Best Bank Bonus Now Without Direct Deposit Requirement

The bottom line: The best bank bonus now without direct deposit requirement depends on what you’re looking for.

I’ll dive into the nitty gritty details below, but here are a few standout options depending on your goals and your situation:

Best bonus for referrals: Acorns

Acorns stands out for its generous referral commission of $100 per friend. If you’ve got 9 friends who want to get started investing, you can earn a bonus of up to $900.

Best bonus for large deposit: Citibank

If you’re looking to make a large ($10,000-$300,000) deposit into a new checking account, it’s hard to beat Citi’s offer. They’re offering tiered rewards from $200-$2000.

Best bonus with no minimum deposit requirement: UFB Direct

On the other end of the spectrum, what if you don’t have much for a deposit but want to start earning a high yield on it? Your best option is UFB Direct, which requires no minimum deposit and pays up to 4.81% in their high yield savings accounts.  

Bank Promotions Without Direct Deposit

1. Acorns

Overall Rating: ⭐⭐⭐⭐⭐

  • Bonus: $900
  • Minimum deposit:
  • Monthly fee: No fees

Acorns is an investing app that also includes robust banking features. And right now, they’re offering up to $900 in bonuses, making it one of the most lucrative bank promotions without direct deposit.

Acorns

The only catch? You have to refer friends to the platform.  

Here’s how to get this bank sign up bonus — no deposit of the direct sort needed:

  • Refer four friends to open an Acorns Invest account using your personal referral link.
  • Your friends will have to make a deposit of at least $5.
  • Your friend must also make their first investment to qualify.
  • Once you and your friends have finished these requirements, your bonus will be deposited into your account within 30 days.

2. CIT Bank

Overall Rating: ⭐⭐⭐⭐⭐

  • Bonus: 4.85% APY
  • Minimum deposit: $5000
  • Monthly fee: No monthly maintenance fee

Next up? CIT Bank. Right now, their Platinum Savings account is paying an APY of 4.85%, as long as you make a minimum deposit of $5000. That comes out to $242.50 a year, making CIT Bank one of the best banks with immediate sign up bonus potential.

Cit platinum savings

Here’s how to get the bonus:

  • Open an account with CIT Bank by providing your address, phone number, email, and social security number.
  • You can open an account with as little as $100, but need a minimum deposit of $5000 for the  4.85% APY.
  • You can transfer funds to your account via wire transfer, mail-in chick, or electronic transfer.

3. M1 Finance

Overall Rating: ⭐⭐⭐⭐

  • Bonus: $75-500
  • Minimum deposit: $10,000-$100,000+
  • Monthly fee: No fees

M1 Finance is a bit similar to Acorns: it’s an investing platform with powerful, built-in banking features.

Right now, if you deposit $10,000 or more within two weeks of opening your new M1 Brokerage Account,  you’ll get a cash bonus of $75 – $500 deposited to that account.

While this is one of the best banks with immediate sign up bonus, it loses a star because the requirements to get the full $500 bonus are pretty high. Not many people will be able to immediately deposit $100,000:

M1 bonus

Still, if you have a large bankroll you’ve been meaning to transfer to a brokerage account, then M1’s offer is perhaps the best online bank bonus now without direct deposit requirement.

Here’s how to get the bonus:

  • Sign up with M1
  • Make a deposit of at least $10,000 within 14 days
  • Keep an eye out for your bonus payout on July 14, 2023.

4. Chime

Overall Rating: ⭐⭐⭐⭐

  • Bonus: $100 per referral, up to $1000 per year
  • Minimum deposit: $100
  • Monthly fee: No monthly fees, no minimum balance fees, no overdraft fees and no foreign transaction fees

When it comes to mobile banking, Chime has emerged as a prominent leader.

With its comprehensive range of services, including a Spending Account and a Savings Account, Chime offers a full-fledged, FDIC-insured banking experience.

With their highly acclaimed app, compatible with both iOS and Android devices, Chime puts the power of managing your finances right at your fingertips.

Chime

Right now, Chime will pay you $100 for every friend you refer to them but caps this bonus at $1000 per year. This bank sign up bonus no deposit loses a star because even though you don’t need to receive a direct deposit to qualify, your friends need to in order for you to get paid.

Here’s how to get the bonus:

  • Log into your Chime account to get your unique referral link.
  • Share your referral link to everyone you know.
  • Earn a cash bonus when one of your referrals registers for a new Chime Spending Account, verifies their ID, and receives a direct deposit of $200 or more within 45 days from opening their account.
  • You and your friend will each get $100.

5. Revolut

Overall Rating: ⭐⭐⭐⭐

  • Bonus: Revolut Premium free for 3 months
  • Minimum deposit: No minimum deposit
  • Monthly fee: Revolut Standard has no fees

Revolut is a modern bank and fintech company. But you can rest assured that they’re safe to use: all funds that you deposit in your card account are held by Metropolitan Commercial Bank and are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

Their premium service, Revolut Premium gets you a whole bunch of benefits, like:

  • Unlimited foreign exchange transfers
  • High ATM withdrawal limits
  • And a ton of extra travel features

Right now, you can easily open a Revolut account online and get Revolut Premium free for 3 months:

Revolut bonus2

Here’s how to get the bonus:

  • Sign up for an account.
  • Enter your mobile number and receive a unique link to download the app.
  • Follow the steps to open your new account.
  • Make your first payment, with a physical or virtual card to get 3 months of the Premium plan for free.

6. Citibank

Overall Rating: ⭐⭐⭐⭐

  • Bonus: $200-2000
  • Minimum deposit: $10,000
  • Monthly fee: No monthly fees, no minimum balance fees, no overdraft fees and no foreign transaction fees

Citi is a well-known bank. But if you haven’t banked with them before, it’s worth considering opening a checking account for the bonuses alone, as they range from $200-2000.

However, with minimum deposits ranging from $10,000-300,000 … you need some significant savings to qualify for the more lucrative rewards.

It’s nice that the rewards are tiered, though:

Citi bonus

Plus, $2000 is by far the biggest bonus on this list. So if you have a lot of money to deposit, this offer from Citi is easily the best bank bonus now without direct deposit requirement.

Here’s how to get the bonus:

  • View Citi’s special offers here.
  • Open an eligible Checking Account between 4/5/23 – 7/23/23.
  • To unlock your bonus, deposit qualifying funds within 20 days of account opening and maintain your balance for an additional 60 days starting on the 21st day.
  • The cash bonus will be deposited to your open, eligible checking account within 30 calendar days after you complete all required activities.
  • If you need to withdraw some of your funds during the balance maintenance period, just make sure you have at least $10,000 in your account to remain eligible to earn at least our minimum cash bonus of $200.

7. Axos

Overall Rating: ⭐⭐⭐⭐⭐

  • Bonus: $100-200
  • Minimum deposit: No initial deposit or minimum balance requirements
  • Monthly fee: No monthly fees

Are you a business owner? Axos offers attractive features and services with their Basic Business Checking Account.

Here are just some of the benefits:

  • ADP Payroll Services – Axos clients receive 1st 4 months free
  • Zero monthly maintenance fees
  • Unlimited Transactions
  • Unlimited domestic ATM fee reimbursements
  • $0 Minimum Opening Deposit requirement
  • 2 Free Domestic Wires, monthly
  • Cash Deposit capability via MoneyPass and AllPoint networks

And we haven’t even gotten to the bonuses yet!

  • New business owners (incorporated after June 1, 2020) get a $200 welcome bonus with promo code NEWBIZ200.
  • If you’re not a new business, you can use promo code NEWAXOSBIZ for a $100 bonus.
Axos bonus2

Here’s how to get the bonus:

  • Sign up for a basic business checking account.
  • Use code NEWBIZ200 (if you incorporated after June 1, 2020) or NEWAXOSBIZ. (if you incorporated before June 1, 2020)
  • Enjoy your benefits and rewards!

8. UBF Direct

Overall Rating: ⭐⭐⭐⭐⭐

  • Bonus: 4.81% APY
  • Minimum deposit: No minimum deposit
  • Monthly fee: No maintenance or service fees

Lastly, UFB Direct takes the spotlight with its impressive Annual Percentage Yield (APY) of 4.81%:

Ufb direct savings

Their high-interest savings account presents a golden opportunity for savers, especially considering that there’s no minimum deposit requirement.

With a deposit of $5000 at an APY of 4.81%, you could potentially earn an annual return of $240.50, making UFB Direct a top contender among banks with immediate sign up bonus potential.

So if you don’t have much money to deposit immediately but want to earn a high yield right away, this is easily the best online bank bonus now without direct deposit requirement.

Here’s how to get the bonus:

  1. Begin by opening an account with UFB Direct, providing essential information such as your address, phone number, email, and social security number.
  2. You can start earning 4.81% with as little as $100! There’s no minimum deposit requirement.
  3. Transfer funds to your account conveniently through options like wire transfer, mail-in check, or electronic transfer.

Other New Account Bonuses

It’s tough to find a bank sign-up bonus, no deposit required. But if you’re looking for bonuses that don’t require direct deposit, consider some of these brokerage bonuses:

TradeStation

TradeStation offers a variety of promotions that cater to the select needs of individual traders. For example, if you’re holding a position for a while, TradeStation allows you to earn income by lending out your shares.

Here’s an example of how much you could make by lending out your shares in a position valued at $4000:

Trade station lending

eToro

eToro lets you trade stocks, crypto, and more. Right now, you can deposit $100 and get a $10 bonus.*

Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.

Etoro bonus

eToro securities trading is offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. https://www.wallstreetzen.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Your capital is at risk. Other fees apply. For more information, visit www.etoro.com/trading/fees.

Final Word:

Finding the best bank bonus now without direct deposit requirement can be tricky.

But with the list above, you’ve now got a ton of bank promotions without direct deposit requirements.

Still, the best bonus for you will depend on your situation and what you’re looking for.

  • Business owner? Check out Axos.
  • Want to avoid a minimum deposit requirement? Check out UFB Direct.
  • Have a bunch of friends you want to start on an investment journey? Check out Acorns.

Or, if you’re interested in a brokerage account, check out eToro or TradeStation.

Enjoy these bank promotions without direct deposit!

Your capital is at risk. Other fees apply. For more information, visit www.etoro.com/trading/fees.

FAQs:

Why do so many bank bonuses require direct deposit?

Many bank bonuses require direct deposits because it will make their banking service “stickier.” If you link direct deposits from a 3rd party to your bank account, it’s less likely that you’ll leave and switch to a new bank because it becomes more of a hassle to do so.

What’s the best online bank bonus now without direct deposit requirement?

The best bank bonus now without direct deposit requirement will depend on you and your situation. Bank bonus offers are often temporary and expire so you should search around each month to find the best offer for you.

Are there banks with immediate sign up bonus?

Yes there are banks with immediate sign up bonuses. However, you will usually still have to deposit a required amount in order to unlock the bonus.

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About the author

Corbin Buff

Contributor

Corbin Buff is a copywriter and content marketer. Ever since reading The Millionaire Next Door in his early 20s, he’s had a passion for personal finance and financial freedom. He’s written financial content for firms of all sizes - from boutique investment banks to the largest real estate investing publication on Seeking Alpha.