If you have been reading this website for a while, you should have noticed that I post lots of bank bonuses here. Bank account bonuses will not get you rich but are an easy way to get some extra income, mostly from home. Sometimes you need to make a trip to the bank to open these account, but it’s still worth a drive and 30 minutes of work if you’re getting $200-$300 at least. For those who are not familiar with bank bonus, I have a post a wrote a while ago titled, Churning Bank Accounts… What You Need To Know, which should give you an idea on what to expect. In that post I also list the banking bonuses I received in 2015, which is a total of $3,040.
The total will vary on your location as many bonuses are limited to certain states. Some of the banks in that list from 2015 don’t even offer bonuses in NY anymore and some banks have merged since then.
My Bank Bonuses For 2017
It’s not guaranteed that you will receive the same total of bank bonuses. You could do worse or even better, as I’ve let a few bonuses slip by for sure. The total could also be much higher if you’re opening accounts for a significant other, or if you have other family members who are willing to participate. Here’s my list:
- M&T Bank – $1500
- Chase Business – $500
- Bank of America – $300
- Wells Fargo – $250
- Santander $225
- Popular Community Bank – $200
- Discover – $200
- US Bank – $150
- Northpointe Bank – $100
- UFB Direct – $50
During 2017 I received a total of $3,475 and could have been much more. If I include SO then we get a total of about $6,100 between the two of us. My parents and friends also got into it, but they don’t give me a cut 🙁
You need to pay taxes on these bonuses and you will receive 1099s in the mail most likely for each bonus. Sometimes you need to print it out yourself in your account. But either way make sure you report them. Some account bonuses also come in the form of miles, which gets a bit more complicated. I don’t think I had any of those bonuses this year, but if you did, here’s some tips on how to deal with them once tax season comes around.
Bank bonuses are usually easy, and if you get at least $200 or so I think it’s worth going for them even with a few requirements. I have a list of current bank bonuses here, with eligible states listed, so check it out and pick the ones you’re eligible for.
Let me know how you did. I’m sure some of you must have topped me.