How I Made $6,000 in 15 Months From Bank Bonuses (and How You Can Too!)

Today, I’m excited to share an article from Lyn Mettler. Lyn has earned over $6,000 in just 15 months by using a little-known strategy called bank bonuses. In this article, she breaks down exactly how it works, why banks are willing to pay you, and how you can get started, too. Quick summary directly from Lyn: “It’s about the easiest side hustle I’ve ever come across: opening checking accounts and earning the free bonus (usually $300-$400) for depositing the required amount usually in the first 90 days.“ Lyn also created the Bank Bonus Blueprint course, where she teaches the exact system she uses so you can follow along and make money. This can be a surprisingly easy way to make extra income without a lot of time or effort!

If you’ve been hanging around the personal finance world for a while, you’ve probably seen dozens of ways to earn extra income: side hustles, cash-back apps, survey sites, even reselling on eBay.

But there’s one strategy that most people completely overlook—and it’s one of the simplest, fastest ways to earn free money I’ve ever found.

I’m talking about bank bonuses.

Yes, those “open a checking account and get $300” offers you’ve probably scrolled past or tossed in the recycling bin without much thought! They might look small at first glance, but if you know how to string them together, they can add up to thousands of dollars very fast.

I know, because I’ve done it myself. Since July 2024, I’ve earned more than $6,000 in free money by completing 18 bank bonuses—and I’m not stopping anytime soon.

What Exactly Is a Bank Bonus?

A bank bonus is when a bank pays you (usually around $200–$400, sometimes more) to open a new checking account with them and meet a few basic requirements.

Typically, that looks like:

• Opening a brand new checking or savings account
• Setting up direct deposits of a certain amount within a certain timeframe (usually 90 days)
• Then transferring it back to your main account (or paying what you need directly from this account)

After that, the bank pays you the bonus.

You don’t need to keep the account open forever. You don’t need to jump through endless hoops. In fact, banks expect that many people will open the account, get the bonus, and eventually close it.

So why do they offer this in the first place?

Recommended reading: 17 Low Effort Side Hustles That Can Make You Extra Money

Why Banks Are Happy to Pay You Hundreds of Dollars

When I first learned about this, I had the same question: Why would a bank just hand me money like this? What’s the catch?

Here’s the inside scoop, straight from a colleague of mine who’s worked in the financial industry.

Banks like to keep a healthy balance of deposits compared to the money they lend out, and offering bonuses is an easy way to bring in new cash quickly while attracting new customers.

So to boost deposits quickly and to attract new customers, banks will incentivize customers like you and me to move money into their accounts. Even if it’s just for a little bit, that deposit helps their books by showing they have the right amount of cash on hand to cover their loans.

So no—you’re not hurting the bank by opening an account, collecting the bonus, and eventually closing it. In fact, you’re helping them. Win-win!

Note from Making Sense of Cents: Of course, banks are hoping that you’ll stay longer than just a few months, too. These bonuses are their way of getting new customers in the door. Once you’ve opened an account, set up direct deposit, and connected a few bills, they know that it becomes more of a hassle to leave. That’s what makes you a “stickier” customer – someone who’s less likely to switch banks again. So while they’re paying you that initial bonus, they’re also betting that you’ll find it easier to just stay put.

My Story: From Skeptical to $6,000

When I first heard about bank bonuses, I’ll admit—I was skeptical. It sounded too easy.

But I decided to test it. I opened an account with a national bank that was offering $400 for a direct deposit of $500 or more within 90 days. Easy peasy. I switched one paycheck over to that account. Sure enough, a few weeks later, $400 showed up. A couple of minutes of my time netted me $400 totally free.

I was hooked.

From there, I started stacking offers—sometimes running one bonus for me and another for my husband at the same time. I’d let two paychecks hit one account, close it after the bonus posted, and move on to the next.

In just 15 months, I’ve completed 18 bonuses totalling more than $6,000.

That’s $6,000 for doing nothing more than moving money around—something we’re already doing every month.

Real People Are Doing This Too

And it’s not just me. I’ve shared this strategy with my readers and members, and here’s what some of them have said:

• “So far in 2025, I’ve made $1,500 with another $400 pending.” – Christian
  • He’s opened 5 accounts so far using my method.
• “I was inspired by Lyn’s info on earning bank bonuses, so I opened an account to see if I could cover some unexpected vet bills. Yesterday, I got the $300 bonus.” – Janet
• “I got my first bonus and we put that toward our Disney vacation! I’m hoping that all the bonuses together will pay for all of our dining expenses at Disney.” — Jim B
• “I’m in the process of earning 2 $400 bonuses — so easy!” – Jason

I used a recent bank bonus to buy season tickets to Notre Dame home football games – so fun! (I get a discounted price as a current graduate student, so for only, $300 I can go to as many games as I want).

What could you use a bank bonus to cover? 

• Holiday gifts
• Your next hotel stay
• Unexpected expenses (like vet or medical bills)
• Braces 
• College savings and tuition
• Debt
• Donation
• Investment
• Car payments
• New tires
• A new appliance
• Your next travel card annual fee
• A fancy dinner out
• New clothes
• Stylish new sneakers
• A gift

It’s not a “get rich quick” scheme. It’s not something shady or complicated. It’s simply taking advantage of offers banks are already putting out there and opening your hand to free money they’re already handing out. I want my fair share, don’t you?

Why This Works So Well as a Side Hustle

What I love most about this strategy is how low-effort it is.

• You don’t need special skills.
• You don’t need a ton of time.
• You don’t need to invest money up front.

If you already have a paycheck or benefits that can be direct-deposited (and more than a paycheck counts as a direct deposit, which I explain inside my Bank Bonus Blueprint course), you can do this. And unlike most side hustles, you don’t have to keep grinding away at it. Once the bonus posts, you’re done. On to the next one!

How Much Can You Really Earn?

Here’s a realistic look at what’s possible:

• A single bonus is usually worth $200–$400.
• Do 1 per month, and you’re looking at ~$3,600
• If you and a spouse/partner both participate, you can easily double that.
• You can even show your kids with jobs how to do this and take that income and save it away for a rainy day!

Like I said, I’ve personally earned over $6,000 in about 15 months. That’s more than many people make in a part-time job over the same period—without clocking in anywhere and spending only a few minutes here or there working on this.

But What About Taxes?

You might be wondering: If I earn this money, do I owe taxes on it?

Yes, bank bonuses are considered taxable income. The bank will send you a tax document at the end of the year, similar to if you earned freelance income, interest income on a bank account, or some other type of income.

I’m not an accountant, so I recommend you check with yours for your specific situation. But even after taxes, these bonuses are well worth it, because you’re still netting a ton of free money. 

My Secret Weapon: A Simple System

Here’s the thing. It’s not enough to just open a random account when you see an offer. To maximize your earnings, you need a system.

You need to:

• Know which banks are currently offering the best deals
• Know which banks to avoid because they make it difficult (most do not, but I’ve had a few that I would NOT recommend)
• Track requirements and deadlines so you don’t miss a bonus
• Understand how to strategically rotate who’s earning the bonus
• Know the easiest ways to access your money once it’s deposited (both direct deposits and the bonus) and close the account when you’re done
• Understand how to set up the account, like should you set up overdraft protection, add your spouse to the account, ask for a debit card or checks, etc.
• Avoid common mistakes that could disqualify you

That’s exactly why I created my Bank Bonus Blueprint course. It’s the step-by-step system I’ve used to earn $6,000 in free money (and counting).

Here are some testimonials from people who have taken my course:

Frequently Asked Questions

Below are answers to common questions about making extra money with bank bonuses.

1. Does this hurt my credit score?

No. Unlike credit cards, opening a checking account usually triggers a “soft pull” (or nothing at all) on your credit report, not a hard inquiry. So there is usually no impact to your credit score. If you’re worried, it’s a good idea to check the offer details first just to make sure.

2. Do I have to keep the account open forever?

Not at all. Once you’ve met the requirements and the bonus has posted, you can close the account if you want. You loaned them the money they needed, now take yours and run :). Just make sure to check whether the bank requires you to keep the account open for a few months before closing it, as some will take the bonus back if you close too soon.

3. What if I don’t get a paycheck direct deposited?

Many banks accept things like Social Security benefits, retirement distributions, or even tax refunds. It doesn’t always have to be a paycheck—though you should always check the fine print.

4. How many bonuses can I do at once?

It depends on how much flexibility you have with your direct deposits. I usually recommend starting with one at a time until you get the hang of it.

5. Is this really worth the effort?

Let me put it this way: would you switch where your paycheck lands for a month if someone handed you $300? I’ll do that every single time!

How I Made $6,000 in 15 Months From Bank Bonuses – Summary

If you’ve been looking for a side hustle that doesn’t eat up your time, a way to increase your savings without cutting back, or just a fun challenge that pays you real money—you’ll want to give bank bonuses a try.

I’ve seen firsthand how this can add thousands to your bank account in a year. And once you know the system, it becomes automatic.

The truth is, most people skim right past these offers without realizing how powerful they are. But the ones who take action? They’re laughing all the way to the bank—literally.

👉 If you’d like to learn exactly how I do it (step by step), check out my Bank Bonus Blueprint. It’s the exact process I used to earn $6,000 in 15 months, broken down so you can start earning your own free money right away. How much can YOU earn?

Please click here to learn more about Bank Bonus Blueprint.

Have you ever tried earning money from bank bonuses? If so, how much have you made—or would you ever give it a try?

Author bio: Lyn Mettler is a long-time travel writer, entrepreneur, and couponer who loves a good deal. She mastered the art of always flying her entire family of 4 free in 2015 and now runs the Families Fly Free membership, where she teaches families around the U.S. her simple system to fly and travel for free using miles and points. She has guest posted on Making Sense of Cents in the past as well, and you can read it at How My Family of 4 Flies Free 6 Times Every Year.

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