What Are the Best Bank Promotions for 2023?

Bank promotions are a great way to earn extra cash, bonuses, or rewards from financial institutions. These promotions can range from cashback rewards to waived fees and even free travel. In this article, we will explore the best bank promotions for 2023, helping you choose the right bank account for your needs.

Checking Account Promotions

Many banks offer checking account promotions to attract new customers. Some of the best promotions includecash bonuses, waived fees, and free checks. For example, Chase Bank offers a $200 bonus for new customers who open a Chase Total Checking account and set up direct deposit. Similarly, Ally Bank offers a $50 bonus for new customers who open a checking account and make three qualifying deposits within 60 days.

Savings Account Promotions

Savings account promotions are another way banks attract new customers. These promotions often include higher interest rates, waived fees, and cash bonuses. For example, Discover Bank offers a 0.50% APY with no minimum deposit or balance requirement for new customers who open a savings account. Additionally, CIT Bank offers a 0.50% APY for new customers who open a Savings Builder account and maintain a balance of at least $25,000.

Credit Card Promotions

Credit card promotions are a great way to earn rewards and bonuses for your everyday purchases. Many credit cards offer cashback rewards, points, and even free travel. For example, the Chase Sapphire Preferred card offers 100,000 bonus points for new customers who spend $4,000 within the first three months of account opening. Additionally, the American Express Gold Card offers 60,000 Membership Rewards points for new customers who spend $4,000 within the first six months of account opening.

Investment Account Promotions

Investment account promotions are a great way to start investing, or to switch to a new investment platform. These promotions often include cash bonuses, free trades, and waived fees. For example, Fidelity offers up to 500 free trades for new customers who open a brokerage account and deposit at least $50,000. Similarly, TD Ameritrade offers up to $2,500 in cash bonuses for new customers who open a brokerage account and deposit at least $250,000.

Investment Strategies

While promotions can be a great way to earn extra cash or rewards, it's important to have a solidinvestment strategyin place. Some key strategies to consider are diversification, dollar-cost averaging, and long-term investing. Diversification involves spreading your investments across different asset classes, such as stocks, bonds, and real estate, to minimize risk. Dollar-cost averaging involves investing a fixed amount of money at regular intervals, regardless of market conditions. Long-term investing involves holding onto your investments for an extended period of time, allowing them to grow and compound over time.

Conclusion

In summary, bank promotions can be a great way to earn extra cash, rewards, and bonuses. Whether you're looking for a checking account, savings account, credit card, or investment account promotion, there are plenty of options available for 2023. However, it's important to have a solid investment strategy in place to ensure long-term growth and success. By diversifying your investments, dollar-cost averaging, and investing for the long-term, you can achieve your financial goals and enjoy the benefits of bank promotions.