Top 5 Checking Account Promotions Updated November 2010

Thinking of switching banks? Before you go out to the nearest bank in town, check out some of these current offers available to you if you open your account online.

Editors Note: Updated November 6, 2010

PNC Bank is offering a Web Only $100 Bonus to sign up for a new account with them. To get the money, you have to open an account, set up direct deposit, and make 10 check card purchases.

ING Direct is offering a $50 dollar bonus to open their Electric Orange checking account. Simply open an account, make 3 card purchases or Person2Person payments within the first 45 days of opening. Your $50 dollar bonus will be deposited into the account on the 50th day.

Bank of America is offering up to $220 in a special online-only promotion for opening an account and then making bill payment to your credit card with them. You can earn the first $100 by opening an account and establishing direct deposit. You must enter the promo code CHC220OL during the application. If you have a Bank of America credit card, you can earn an additional $120 over 6 months by making online bill payments from your new checking account to your card each month. No “big bank” is offering that much money this fall.

Older promotions from earlier this year (may be expired)….

2. M&T Bank
You can earn up to $100 if you establish a new checking account online with M&T Bank. Here’s the breakdown of the dough:

Go to their website for all the details and to apply.

3. BB&T
Open up a checking account online with BB&T and receive up to $100 as well.

Check out their website for all the details of the offer and to apply.

4. Chase
Chase is offering customers who have a credit card with them, but do NOT have a checking account the opportunity to earn up to $125. To take advantage of this offer, log in to Chase.com using your existing user id and password. After you are in, click this link, which should take you to the current promo. After you apply and fund the new account with a minimum deposit of $100 and set up direct deposit, your bonus will be deposited 60 days after the first direct deposit hits the account.

5. Ally.com Interest Checking

While Ally is not paying any bonus money that the brick and mortar established banks above are dishing out, they may have the best overall deal of the group. Ally is offering anyone a free checking account, with the lowest fees of any of the major banks. If you have a check or checkcard purchase that is returned for insufficent funds, the above 4 banks will charge you anywhere from $35 – $39 per item. Ally charges you $9. Monthly fee for the account at Ally is $0, with or without direct deposit. They also offer free incoming domestic wires, and charge only $20 for outgoing wires. For more information on them, or to open an account, check out their website here.

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