GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you might read more about oureditorial guidelinesand our products and servicesreview methodology.
GOBankingRates spoke with a banking expert, Bethany Hickey, about how to do it.
Heres what she said, and you’re free to alsocheck out more bank bonuses and promotions here.
These sign-up bonuses usually range from $200 to $500, but are sometimes more.
However, youll generally need to meet certain requirements to be eligible for one of these bonuses.
This could mean setting up direct deposit or maintaining a minimum account balance.
It might also mean making a certain number of monthly transactions to that account.
Be sure to read the fine print when choosing a bank to see whether or not you qualify.
Direct Deposit Incentives
According to Hickey, banks also often offer direct deposit bonuses.
TakeBMO, for example.
Sometimes, youll get additional incentives or cash offers for opening different types of accounts with a bank.
At a bank, youll typically find the highest APYs onsavings accounts.
Some other types of accounts, such as interest-bearing checking accounts, also have an APY.
Generally speaking, choosing an account with high APY is a great way to boost your finances.
But sometimes, banks also offer additional bonuses here.
Savings account bonuses often come in the form of an APY boost, said Hickey.
This boost is on top of the accounts normal APY.
It might take a while, but over time these small round-ups can turn into some substantial savings.
Think of this like saving change in a jar back when cash was much more commonly used.
Whats great about savings round-ups is that all you better do is set it up.
That way, youll get extra savings and earn even more money off your account balances.
Some banks will also offer matching contributions for your savings round-ups up to a certain amount.
If yours does, thats essentially free money.
