One of the best ways to earn free money is to sign up for bank bonuses. They are relatively easy to get and require minimal time. Usually, you need to move money around from a different bank, set up a direct deposit, or make a few debit purchases.

Some of the bigger banks require a deposit of $10,000+ in new money to get a $100 bonus. I have seen direct deposit requirements of $5,000 or more monthly! Here are three fintech banks offering sign-up bonuses that are easy to obtain, requiring just a few tasks. All of these banks have:

•  No monthly fees or minimum balance requirements! You can have $1 in your account and not be charged a pesky maintenance or service fee.
• Easily transfer money in/out to a different bank.

I found three fintech banks offering easy-to-obtain sign-up bonuses, which can help during times of high inflation and a possible looming recession.

Spiral:

Earn $50 HERE

• Get $50 when you open a qualifying checking account, deposit at least $200 in the first 30 days, and maintain an account for at least 90 days.
• Bonus will be paid into your Checking account within 30 days of meeting the criteria.
• When you deposit money in your checking account, 0.25% will be moved to a separate account that will be donated to a charity of your choice. Remember, 0.25%, not 25%.
• There is a $7 inactivity fee if you do not have any activity in your account for 90 days.
• The Spiral app is only available on iOS; however, you can sign-up for an account on your computer.

Verdict:

There is no direct deposit requirement, and you can transfer $200 to your account for an easy $50. The charity/social good aspect is not a big issue, and it’s only 0.25%. The inactivity fee is annoying. You can just transfer $1 in your account every three months to avoid this, but with so many other fintech banks not charging such a fee, I will likely cancel my account after a year. Spiral offers a solid bank bonus for those who do not want to go through a dd requirement.

Varo

Earn $50 HERE

• Spend $20 within 30 days of opening your Varo account. You will need to wait until you receive the physical debit card.
• The bonus posts quickly, about 4-7 business days after meeting the spending requirement.

Verdict:

That is it. There is not much else to explain. The hardest part about this bonus is waiting for the debit card in the mail. Varo is an excellent beginner bank, and its interface is easy to navigate. I will hold onto this bank, and in the future, perhaps they will offer a direct deposit bonus.

Albert

Earn $500 HERE

*The $500 bonus has been reduced to $150. I would suggest anyone looking into this to wait for the bonus to increase. Albert reminds me of Cash App, they have a lot of generous cash back offers, such as 20% off at Whole Foods and 15% off at Etsy.

⓵ Sign up as a new Albert Cash member
⓶ Set up direct deposit with Albert Cash
⓷ After Cash signup, receive a qualifying deposit of $200 or more every 30 days for 90 consecutive days
⓸ Use your Cash card to spend $100 or more on goods or services every 30 days during the same 90-day period

Verdict:

This bonus will take a little more work; however, for $500, it’s well worth it. Typically, receiving $500 from a bank requires a deposit of $1,00,000+ or monthly deposits of $5,000+. I would snatch up this bonus asap as it will likely downgrade to $250 or $150.

When you sign up for Albert Cash, you will have to subscribe to their monthly subscription, Albert Genius, and the minimum amount is $6 a month. The bad news is I couldn’t find a way to bypass the Albert Genius screen. The good news is you can cancel or deactivate Albert Genius immediately after signing up. The first month is free, so there is no charge anyway. Per an e-mail I received from Albert Support, activating a Genius subscription is unnecessary to get the bonus. There is also an auto-saving feature that you can pause.

The great thing about these banks is that they all have referral programs that allow you to refer others using your own link. You can refer your spouse or partner, potentially earning both of you another sweet bonus. You can double or even triple the amount you can earn from bank bonuses.

For a few minutes of work consisting of transferring money, spending on bills you already pay for and linking your account through a direct deposit, you can easily earn $1,000 or more per year. $1,000+ isn’t life-changing money, but if you are one of many that complain they do not have any money to invest, here is a possible new stream of income.

If you have any questions or concerns about bank account bonuses, please let me know!