Guide
Bank bonuses with no direct deposit
Almost every checking bonus needs a direct deposit, usually part of your paycheck. Right now the 2 verified offers without one ask you to park savings instead.
Offers that don't need a direct deposit
| Bank | Bonus | What it takes |
|---|---|---|
| Huntington | $600 | $25,000 deposited within 90 days, kept 90 days |
| Capital One | $300 | $20,000 deposited within 15 days, kept 90 days |
Is parking savings worth it?
It depends on what that money earns now. Huntington's $600 for $25,000 kept 90 days works out to about 9.7% a year on that money. Capital One's $300 for $20,000 kept 90 days works out to about 6.1% a year on that money. That's on top of any interest the account pays. Only use cash you won't need, because moving it out early usually cancels the bonus.
If you have a paycheck, use it
Direct deposit bonuses don't tie up your savings. You send part of your paycheck to the new account for a month or two and keep spending it as usual. How to split your direct deposit.