3 Easy $200 Bank Bonuses Practically Anyone Can Get Right Now

Getting a bank bonus on a new checking account might seem like a simple way to generate extra income. But the requirements aren't always easy to satisfy. The most lucrative bank bonuses I've seen require you to have direct deposits totalling $5,000 or more within a month, while others ask you to hold $25,000 to $50,000 in savings for three months or more.

This might be doable for some people. But for those who can't meet the requirements, it's easy to feel frustrated. Thankfully, there are several very easy bank bonuses available right now. If you're looking for low-hanging fruit, here are three bonuses to keep your eye on.

1. M&T Bank: $200 bonus

M&T Bank will reward you with $200 when you open a new checking account online through its promotional page and have direct deposits totaling $500 within 90 days of account opening. You have to open the account before Aug. 31, 2024 to qualify, and the bonus will be awarded within 90 days of meeting requirements.

While the bonus is easy to get, this checking account isn't automatically free. To waive the $25 monthly service charge, you'll need to maintain an average daily balance of $7,500 or have a combined daily balance of $25,000 across eligible accounts. If that's not possible, you could also get a $100 bonus on M&T Bank's EZChoice checking account. The same criteria applies for the bonus, but there's no monthly maintenance fee.

Our Picks for the Best High-Yield Savings Accounts of 2024

Capital One 360 Performance Savings APY 4.25% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening. Min. to earn $0 Open Account for Capital One 360 Performance Savings Member FDIC.	APY 4.25% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.	Min. to earn $0
American Express® High Yield Savings APY 4.25% Rate info 4.25% annual percentage yield as of June 26, 2024 Min. to earn $1 Open Account for American Express® High Yield Savings Member FDIC.	APY 4.25% Rate info 4.25% annual percentage yield as of June 26, 2024	Min. to earn $1
Citizens Access® Savings APY 4.50% Min. to earn $0.01 Open Account for Citizens Access® Savings Member FDIC.	APY 4.50%	Min. to earn $0.01

2. PNC Bank: up to $400 bonus

PNC Bank is offering up to $400 on its PNC Virtual Wallet accounts when you meet direct deposit requirements. The bonus is contingent on where you live, as PNC Bank offers different PNC Virtual Wallet accounts in separate regions.

In my region (Portland, Oregon), I can open a Virtual Wallet Checking Pro. This account has no monthly service fee, comes with a sweet 4.65% APY, and offers a $200 bonus when you have direct deposits totaling $2,000 or more.

If your region doesn't have the Virtual Wallet Checking Pro, you'll likely have the option of three other accounts: Virtual Wallet, Virtual Wallet with Performance Spend, and Virtual Wallet with Performance Select. These accounts have waivable monthly fees ($7 to $25) and bonuses ranging from $100 to $400. The Virtual Wallet with Performance Spend, for instance, gives you $200 when you establish direct deposits of $2,000 or more.

3. Bank of America: $200 bonus

Bank of America is rewarding new checking account holders with a $200 bonus when they open a new account with promo code TWA200CIS and receive $2,000 or more in eligible direct deposits within 90 days of account opening. Offer must be activated by Sept. 30, 2024 to be enrolled.

Three of Bank of America's checking accounts are eligible for this offer. These include:

• Bank of America Advantage SafeBalance Banking
• Bank of America Advantage Plus Banking
• Bank of America Advantage Relationship Banking®

Each of these accounts has a waivable monthly fee and may earn some interest. Once you've satisfied the bonus's criteria, Bank of America will deposit it in your account within 60 days.

These three bank bonuses only scratch the surface of what's out there. With interest rates still high, more and more banks are offering big bonuses on new savings and checking accounts to attract clients. Take a look at our list of best bank bonuses and snag these deals while the iron is still hot.