Bank Bonuses That Don't Need a Direct Deposit: Savings, Brokerage and Business

A bonus that doesn't need a direct deposit usually asks for something else: new money, held for a few months. Savings, brokerage and business accounts work this way. They pay a percentage of the cash you bring in, and the real cost is what that cash could have earned elsewhere while it was tied up.

One thing to know up front: every personal checking bonus in the SuperChurn catalog right now needs a direct deposit. A personal checking bonus that skips the direct deposit can show up too, and we list one as soon as it's checked on the bank's own page. The accounts below are the ones that don't ask for a paycheck today.

The free Bank Bonus Calculator shows what any of these is worth after fees, taxes and the interest your money could have earned instead.

How they work: new money

All of these want new money, meaning funds from outside the bank and its affiliates. Moving money between accounts at the same bank, or at the bank's parent company, generally doesn't count. The terms say it in their own words:

• Chase: new money "not already at Chase or its affiliates."
• E*TRADE: net-new funds "from outside Morgan Stanley and its affiliates."
• J.P. Morgan: qualifying new money "from outside JPMorgan Chase."
• Merrill: new assets "from outside Merrill, Bank of America Private Bank and Merrill-administered 401(k)s."

So the money has to come from a different bank, a different brokerage, or a source that isn't one of the bank's own accounts. Once it arrives, the account has to keep it for a set period, from about 45 days to a year in the offers below, or the bonus isn't paid.

Savings account bonuses

These are the simplest. You open a savings account, deposit money by a deadline, and keep it there.

• E*TRADE Premium Savings: $400, ends January 10, 2027. Deposit $20,000 or more of new money within 30 days, then average $20,000 or more on days 31 to 75. The bonus is paid within 30 days after that, about 105 days from opening. $100,000 earns $800. The account also pays a promotional 4.25% APY for 6 months, so you aren't giving up interest while you wait. There's a lifetime limit of two Premium Savings cash bonuses.
• Chase Savings: $200, ends January 27, 2027. Deposit $10,000 or more of new money within 30 days of enrolling in the offer, and keep it for 90 days from enrollment. $5,000 earns $100. It's paid within 15 days after the hold ends. The $5 monthly fee is waived with a $300 daily balance, and Chase's fee schedule lists no early-closure fee. One savings bonus every two years.

Brokerage account bonuses

Brokerage bonuses are tiered by how much you move. They suit people who already hold investments somewhere else and are willing to transfer them, in cash or in kind.

• E*TRADE: up to $1,500, ends October 31. Open one self-directed brokerage account with promo code OFFER26 and deposit new funds or securities within 60 days. The new funds then have to stay for 12 months after the funding period or the credit can be taken back. A limit of three new-account offers per client.
• J.P. Morgan Self-Directed Investing: up to $1,000, ends October 21. New money within 45 days of enrolling, held for 90 days. One bonus per customer.
• Merrill Edge: up to $600, no end date stated. Code 600ME, funded within 45 days and held for 90 days after funding. Limited to one cash management account bonus and one IRA bonus per account holder.

What the money earns: the smaller tiers often pay more

A bonus is easier to judge as a share of the money you bring in. Using the tiers from each offer's terms:

Two things stand out:

1. The biggest dollar bonus is rarely the best deal. The $1,500 at E*TRADE is 0.3% of $500,000. The $150 on $5,000 is ten times that percentage.
2. Time matters as much as size. The same 2% earned over about 105 days is worth much more per year than 1.5% locked up for over a year. Compare each against what your cash would earn in a savings account over the same period. Whatever the account would have paid anyway comes off the bonus. As an example, if your cash would otherwise earn 4% a year, tying up $20,000 for 105 days costs about $230 in interest (the E*TRADE savings account pays its own promotional rate during that time, which offsets some of it).

Business checking bonuses

Several business checking bonuses also skip the direct deposit. They typically ask for a balance, plus a few transactions:

• Wells Fargo Initiate Business Checking: up to $825, ends November 10. Keep a balance by day 30 and through day 60 ($2,500 earns $400, $10,000 earns $550, $25,000 earns $825), plus 5 qualifying transactions. It has a $15 monthly fee.
• Chase Business Complete Checking: up to $500, ends January 21, 2027. New money within 30 days, kept for 60 days ($2,000 earns $400), plus 5 qualifying transactions within 90 days.
• Axos Basic Business Checking: $200, ends January 31, 2027. $50 for each of up to four of the first five statement months with an average balance of $3,000, for businesses less than a year old.

These are for real businesses. A business account is meant for business activity, and the application asks about your business, so don't open one just for the bonus if you don't have one. If you do run a business, even a small one, they're often some of the best-paying offers available. All the current ones are on the business bonuses page.

Before you tie up the money

• Check the end date, then count the days. Add the funding window and the hold period, and make sure you can leave the money alone that long. A bonus you forfeit by moving funds early pays nothing.
• Keep the new money separate. Hold it only for this bonus. Moving money in and out can drop your balance below the requirement or turn "new money" into the bank's own money.
• Watch for fees. Chase Savings' $5 monthly fee is waived with a $300 daily balance, but any fee you can't avoid comes off the bonus.
• Know the closing rule. Some accounts have no early-closure fee, and others can take the bonus back if you close too soon. The guide to closing an account after the bonus explains what to look for.
• Plan for tax. The bonus is generally taxable income. See the guide on whether bank bonuses are taxable.
• Check who can get it. Each offer page lists its eligibility rules in the bank's own words, such as "one bonus every two years" or "new clients only."

FAQ

Are there bank bonuses with no direct deposit? Yes. Savings, brokerage and business accounts often pay for new money held for a few months instead. Right now, every personal checking bonus in our catalog needs a direct deposit.

What does "new money" mean? Funds that weren't already at the bank or its affiliates. A transfer from another bank, or from a brokerage account at a different company, usually counts. A transfer from your own accounts at the same bank, or from its parent company, usually doesn't.

How much money do I need? It depends on the tier. Chase Savings pays $100 for $5,000, E*TRADE's brokerage account pays $150 for $5,000, and E*TRADE Premium Savings' $400 tier starts at $20,000. Smaller tiers generally pay a higher percentage.

Is it worth moving money for a bonus? Often, if the hold is short and you'd otherwise earn little on the cash. Subtract the interest the money would have earned elsewhere over the same period. The Bank Bonus Calculator does it for you.

Can I take the money out right after the bonus is paid? Check the terms. Chase Savings states that no clawback applies, and the E*TRADE Premium Savings terms in our catalog don't mention one. The E*TRADE brokerage credit, though, can be taken back if you remove the funds within 12 months after the funding period. Never withdraw before the bonus has actually posted.

Does a savings or brokerage bonus affect Chase 5/24? No. Only credit cards count. See the guide to the Chase 5/24 rule.

Sources

• Offer terms for each linked account, as shown on its SuperChurn page (checked against the bank's or brokerage's own terms, September 25 to October 5, 2026).

SuperChurn isn't owned by or endorsed by any bank or brokerage. This is general information, not financial or tax advice. Terms and end dates change, so confirm them with the bank before you open an account or move money.