I’m constantly telling people that signing up for new bank accounts for the sign up promotions is a great way to make some side income. I’ve told readers that we’re currently in the golden age of bank account bonuses at the moment. By far the easiest way to convince people that this is worth their time is to tell them how much money you can (and have) made.
Recently some readers started sharing their results in the comments of that golden age post and I thought it would be good to have a thread where readers can share their results and and hopefully motivate other readers to get involved in the bank account bonus game. If you’re new I’d start of by reading our complete guide, that should provide you all of the information to get started. If you want to ramp up the number of bonuses you’re doing then I’d recommend having a look at our best bank bonus page.
Another reason I want to motivate readers to get involved in bank bonuses is because we post about them a lot and some readers complain about that. After speaking with a few of those people it turns out they are usually the ones not participating. I’m also hoping I can convert a few more readers into helping us find more bonuses for the site!
After earning only $500 in 2016 from a single Chase bank bonus, I decided to kick it into high gear for 2017 thanks to DoC’s prodding and regular list of new bonus opportunities. In 2-player mode, we earned a total of $8500 in bonuses in 2017 from 36 accounts from these banks:
M&T – $2200
Wells Fargo – $1800
Discover – $1000
Chase – $1000
Suntrust – $700
TD – $600
HSBC – $350
PNC – $300
People’s Bank – $300
CIT – $250
I love the fact that the bank bonuses don’t affect the ability to get the same numerous credit card bonuses I was always getting anyway, although they really are more time consuming. And of course they’re taxed, so $8500 isn’t really $8500. Many of these accounts are one-time only (Discover, TD), so I don’t expect to repeat this kind of volume in 2018. For anyone sitting on the sidelines because they think this is too hard, I encourage them to open an account with easy requirements and quick posting, like Wells Fargo.
Also, an interesting side note is that along with these I opened Ally checking and savings even though there was no bonus on them because I’ve read many rave reviews, and it’s true, Ally is awesome. I’ve tried quite a few banks this year, and Ally has them all beat, so much so that I switched over to them after 16 years with Citi. Ally has a great web interface and mobile app, high interest savings with instant transfers to checking, free overdraft that can pull from that savings, great phone customer service, $10/month ATM reimbursements, high-yield CDs, and the list goes on. Of the other banks I’ve tried, I like Wells Fargo too because of their web interface, easy-to-keep-fee-free business checking, and numerous branches near me here in Maryland.
This is my first year doing this. I’m in PA and have basically done most of the nationwide and PA specific bonuses suggested by Doc. Including some pending ones, I have:
Key-300
Chase Total Checking-300
PNC-300
Santander-225
Northwest-200
Huntington-200
Citizens-200
Wesbanco-200
BMO Harris-200
M&T-150
First National-150
Fulton Bank-150
Unfortunately, got rejected by US bank (no PA branch) and Wells Fargo (don’t know why) and so I’ve 15+ on my Chex.
Still that comes to around 2.6k, and as an international student, that allowed me to visit my family twice this year without spending a penny from my meager paycheck. I plan to do this every year! Thanks Doc!
Just wondering how people manage figures like 5k-10k though, I don’t seem to have any bonus left. Unfortunately, I can’t churn M&T like the others since they don’t allow internationals to apply online and I’ll get caught probably in the branch. Any workaround regarding this anyone?
Halfway through year, between wife and I, we are at $2600 total: $1700 received, $900 still pending pay out
Not a lot of money, but it’s free and easy, and the other way of looking at is it that it covers about 10% or one month of our annual expenses in retirement while travelling and hanging around, so not bad. (just rough ball park estimates on percentage of spending)
Thanks for all the help. My wife finds most offers from your sites. It’s been an unexpected income boost. Long may it last.
Doc, I never, ever would’ve done bank bonuses if not for you, so thank you. I just started this year, and I’ll be up to $2025 in a couple of months. And maybe best of all, I’m actually going to stick with Wells Fargo, the first one I did! So everybody’s happy now, even the banker, because they got a brand-new customer. 🙂
Two grand — jeez, that’s a lot of money. For not doing much of anything but refilling my Amazon gift balance, making direct deposits via Fidelity, etc. It’s the easiest two grand I’ve ever made in my life!
Glad to be able to help =)
I’m prob around ~$4k on the year, with $2k myself. I’ve tried to get my GF in on it, but she’s too wary. Oh well.
I love posting here and contributing as well as reading everyone else’s comments.
THANKS Doc!
Meant 2k just from M&T
SO and I have made $1500 so far this year ($350 of that from a sign up last year – took a long time to post). We have $400 more pending. I prefer the online signups, but have done a couple that required opening in branch.
Also have a recent HS graduate who just turned 18 – $100 earned and $200 pending for the kid. 🙂
Thanks DoC!!
Started October of 2016, and the wife and I have pulled in $7,550 with $1,025 slotted to come in.
I try to inform my credit-card-churning-friends about this amazing opportunity, but they seem put off by the small amounts of money per bonus. As my total increases, their interest has too!
Huge thanks to the DoC team for helping my wife and I fund travelling that we otherwise couldn’t afford.
Awesome work, glad to help!
That’s exactly what I use my bank account bonuses for as well!
At about $2,600 this year in 2P mode, with another $700 or so last year. So, so much of which is courtesy of DoC/all the killer DPs on this site. Thanks all!
Have been ramping up this year, and between the SO and myself we have made $3,000. Last year and year before it was $1,500 each year. So $6,000 in last three years.
from California, so like $300 a year 🙁
Lots of bonuses you can do in California, you could have made $500 from just Chase alone for example. Plus all the M&T bonuses. Plus BMO Harris $400 Capital One etc etc etc
M&T doesn’t support CA.
Yes it does. I’ve done M&T for 4 bonuses this year and am in CA.
Yes they do. M&T accepts out of state applications.
I agree with William, I’m from CA and have $2,000 in bonuses so far this year and did $3,000 last year.
Not as many for us Californians as in other states but you just have to keep checking this site and jumping on them as they come out.