Deals & Bonuses

How bonus offers from banks and brokers work

Banks, brokers and other financial providers pay rewards to win new customers. Typical examples are a sum of money for opening a current account, a bonus for a first brokerage account, or a credit for taking out a loan or savings account. The reward is normally not paid immediately but only once you meet certain conditions, such as a salary deposit, a minimum turnover or a first order.

On this page we collect the current offers. They are updated daily, and we hide expired offers automatically. What counts is always the provider's terms at the time you sign up, because rewards can change or end early.

What to look for in the conditions

A high reward is worthwhile only if you can meet the conditions with reasonable effort and the product suits you anyway. Read the participation terms before signing up and compare the overall package of reward, running costs and features.

• New-customer status: usually only those who have had no account or brokerage account with the provider in recent months qualify.
• Minimum turnover or deposits: often a fixed amount has to be paid in each month for the reward to be paid out.
• Deadlines: the conditions often have to be met within a few weeks or months.
• Holding period: some offers require you to keep the product for a certain time.
• Running costs: account fees or brokerage charges can eat up the reward.

Worked example: when a bonus really pays off

A current account offers a reward of €100 but costs €5 a month as long as you do not meet the condition for a free account. In the first year, €100 of bonus is set against €60 of fees, so the net benefit is €40. A free account with a €50 reward would be the better offer in this example, even though the number looks smaller.

So also check what applies after the promotion. Switching accounts involves effort, for example for standing orders and direct debits, and several account openings in a short time are reported to the credit agency Schufa. You should therefore not judge the result by the size of the reward alone.

What kinds of rewards there are

Account rewards are the most common form and are usually in the two-digit to low three-digit euro range, depending on the provider and the conditions. Brokerage offers work differently: they often reward a first order, a minimum amount when you transfer an existing portfolio, or a monthly savings plan, and sometimes pay out free shares or trading credit instead of cash.

With loans and savings accounts, offers are usually tied to a contract of a certain amount or term. Here it is especially worth looking at the effective annual interest rate or the rate after the guaranteed-rate period ends, because a bonus does not replace a permanently good interest rate. Compare the product first; the reward is the extra benefit.

Four steps to the reward

If you want to use an offer, a fixed routine helps. That way you make sure you do not lose the reward because of a formal error.

• Check the offer and product: does the account, brokerage account or loan suit your needs even without the bonus?
• Go to the provider via the link on this page and read the participation terms; a promotion code or a particular route in is often required.
• Apply, confirm your identity and meet the conditions within the deadline, for example by setting up the salary deposit.
• Check the credit and note the end of the holding period in your calendar.

Legal points and security

For bank accounts and savings in Germany, statutory deposit protection of €100,000 per customer and bank applies. Securities in a brokerage account are held as segregated assets: they remain yours even if the broker becomes insolvent, but losses from price fluctuations are not covered. Banks are supervised by BaFin, the German financial regulator; you can check whether a provider holds a licence in BaFin's public company database.

How a reward is treated for tax purposes depends on its type. If you are unsure, ask a tax adviser. The links on this page are affiliate links: if you sign a contract through them, we receive a commission at no extra cost to you. Our presentation of the offers remains independent of that.

Frequently asked questions

When is the reward paid out?

The provider decides. The credit often arrives within a few weeks to months after you have met the conditions. The exact deadlines are in the offer's participation terms.

Can I use several offers at the same time?

In principle yes, if you count as a new customer with each provider and meet the conditions. Note that account openings show up in your Schufa record and that each additional account creates effort.

What happens if I close the account before the holding period ends?

Some providers reclaim the reward or do not pay it out at all if the conditions are not met. Read the participation terms and note the date until which you must keep the product.