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Bank Bonuses 2026: How Sign-Up Offers Work

Editorial Team
SoFiRead our review ↓

Introduction

Bank sign-up bonuses can be a nice reward for opening an account, but they come with conditions: minimum deposits, direct deposit requirements, time limits and eligibility rules that depend on where you live. Offers also change frequently, so a bonus described online may already have expired.

This guide explains how bonuses typically work at three popular providers – SoFi, Wise and Revolut – based on their official terms pages. It does not list specific bonus amounts: always check the current offer and its terms on the provider’s website before opening an account.

SoFi: a US-focused all-in-one bank

SoFi offers checking and savings, loans and investing in one app, for US residents.

  • Pros:
    • No account fees on checking and savings
    • Competitive variable APY on savings, with conditions such as direct deposit
    • All-in-one app covering banking, loans and investing
  • Cons:
    • Available to US residents only
    • Bonus offers usually require qualifying direct deposits within a set period
    • Rates and bonus terms change regularly

Wise: built for international money

Wise is not a bank but an electronic money institution, designed for holding and converting multiple currencies at the mid-market exchange rate with transparent fees.

  • Pros:
    • Multi-currency account with local account details in several currencies
    • Transparent, upfront conversion fees
    • Debit card for spending abroad
  • Cons:
    • Customer funds are safeguarded but not covered by deposit guarantee schemes
    • Free ATM withdrawals are limited each month, then fees apply
    • Promotions are more often referral-based than classic sign-up bonuses

Revolut: travel and multi-currency features

In the US, Revolut combines a prepaid card account, currency exchange, savings and stock and ETF trading in one app, with plans from $0 (Standard) to $9.99 (Premium) and $16.99 (Metal) per month. It does not offer crypto to US customers.

  • Pros:
    • Strong travel features and multi-currency spending
    • High Yield Savings through Cross River Bank, Member FDIC, with a variable APY that depends on your plan
    • Wide range of features in one app
  • Cons:
    • Currency exchange limits of $1,000 per month on Standard and $10,000 on Premium, and a 1% fee outside foreign-exchange market hours on Standard
    • Revolut is not a bank; FDIC insurance applies through its partner banks
    • Promotions vary by country and are often referral-based

How to get a bank bonus safely

  1. Check eligibility: country of residence, new-customer status, age.
  2. Read the conditions: minimum deposit, direct deposit, number of card payments, deadline.
  3. Note the payout date and whether the account must stay open for a minimum period.
  4. Consider taxes: bank bonuses can be taxable income depending on your country.
  5. Don’t choose a bank for the bonus alone: fees, features and service matter more over time.
Wise

Conclusion

SoFi: for US residents

If you live in the United States, SoFi offers an all-in-one account with no account fees and periodic sign-up bonuses tied to direct deposits. Check the current offer and its conditions before signing up.

Try SoFi

Wise: for international transfers

For multi-currency needs, Wise stands out for transparent fees and the mid-market exchange rate.

Try Wise

Revolut: for travel and currency exchange

For travelers who want currency exchange, savings and investing in one app, Revolut is a flexible option; compare plan limits before choosing.

Try Revolut