I am going to share with you 6 simple steps on how to turn $200 into $1625 in less than two weeks by taking advantage of free bank bonus money offers. That’s over an 800% return on investment (ROA)! I guarantee that these are all legitimate offers from FDIC-insured banks, and I have personally signed up for all six offers to verify their legitimacy. Also please note that opening new checking accounts will not affect your credit score whatsoever.
Tips Before You Begin (aka Lessons Learned The Hard Way)
- Be sure to always use your full given name when opening an account. I made the mistake of only using “Kim” instead of “Kimberly” on some accounts which made it difficult to transfer money from one account to another since the names on the accounts did not match up exactly.
- The steps below involve having a “partner in crime” (aka spouse, friend, or family member) that you can refer to sign up as well. If you don’t, that’s okay, just keep in mind that won’t earn quite as much, but you can still more than double your money.
- You may need to claim the free bonus money on your income taxes next year as the banks may send you a 1099-INT tax form, but that’s a small price to pay for your free bank bonus money.
Contents
6 Steps To Turn $200 Into $1625 In 14 Days
You do not necessarily need to do these steps in the exact order as below; I just started with the one that required the highest minimum deposit ($200). Once you deposit the initial $200 in the first account, you can then transfer that money to the next account and so on and so forth.
Initial Investment: $200
1. Chime
Free Money: +$300
Open a Chime account with a $200 minimum deposit. You’ll receive a $100 bonus the next day. You do not need to do a payroll direct deposit, simply transfer $200 from another bank account that you already have. Refer your partner and you’ll each receive $100 for that ($100 referral bonus for you and $100 free money for them).
2. Chase
Free Money: +$500
Open a Chase Total Checking account with a $10 minimum deposit. You can transfer the $10 from your Chime account to workaround the Direct Deposit requirement. You’ll receive a $225 bonus on this account! Refer your partner for another $275 ($50 referral bonus for you and $225 free money for them).
3. SoFi
Free Money: +$100
Open a SoFi account with a $10 minimum deposit, which you transfer from one of the above accounts. Receive a $25 bonus instantly after you deposit $10. Refer your partner for another $75 ($50 referral bonus for you and $25 free money for them).
4. Varo
Free Money: +$150
Open a Varo account with a minimum $50 deposit, again transferring from one of the above accounts. You will receive a $50 bonus after you spend $20 via the debit card within 30 days. The debit card arrives via FedEx within a couple of days. I recommend using the debit card to buy a $20 gift card online to a store that you frequently use. You will receive your bonus as soon as the transaction has been completed. Refer your partner for only $100 ($50 referral bonus for you and $50 free money for them).
5. M1
Free Money: +$150
Open an M1 account with a minimum $100 deposit that you can transfer from Chime or one of the other accounts above. You will receive a $50 bonus 7-14 days after your deposit. Refer your partner for another $100 ($50 referral bonus for you and $50 free money for them).
6. NorthOne
Free Money: +$225
Open a NorthOne account with a minimum of $50. This is for a business account obviously intended for businesses, but if you are not a business, you can set up an account as a sole proprietor. You are an entrepreneur after all if you’re reading this! You will receive a $75 bonus in your account in about 10 days. Refer your partner for another $150 ($75 referral bonus for you and $75 free money for them).
Total Free Money: $1425
Add your initial $200 investment, and you now have $1625.00!
$200 + $1425 = $1625
For more free bank bonus offers, click here for our full list of free bonus money promotions for opening a new checking, savings, or trade account. I also invite you to join my new Facebook group for others to share free bonus money offers as they find them.
P.S. If you signed up for any accounts through my link(s), I owe you a drink. 😉
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