I'm looking to switch banks and I remember a few years ago some places were offering actual cash back on debit card purchases or monthly bonuses just for maintaining a checking account. Are banks still doing this in 2026, or did that mostly dry up? I'd rather not waste time applying somewhere that's not worth it.
I switched banks last year and the signup bonuses are definitely still around - I got $300 just for setting up direct deposit and keeping a minimum balance for a couple months. But yeah, the ongoing purchase rewards have mostly vanished; most banks either killed those or made them so restrictive (like 0.1% back on everything) that they're barely worth tracking. What's more common now is banks offering higher interest rates on savings accounts or checking if you maintain a certain balance, which honestly might be better for you anyway depending on how much you keep liquid. When you're comparing, look at the signup bonus terms carefully because some require direct deposit or a specific minimum balance, and factor in whether their regular perks - fee waivers, ATM reimbursements, that sort of thing - actually match your habits.
Are you talking about the signup bonuses or the ongoing rewards on purchases? Banks definitely still do signup bonuses - you'll find those pretty commonly, usually a few hundred bucks if you set up direct deposit or hit a spending threshold within a timeframe. The ongoing cashback on debit purchases has mostly dried up though, yeah. Most checking accounts these days lean on other perks like fee waivers or interest rates instead of transaction rewards. Your best bet is to check what the top local and online banks are offering right now since it changes pretty frequently, but I'd focus on the signup bonus side of things if that's what you're after.
The signup bonuses are still very much a thing, but the ongoing cashback on everyday purchases mostly died out - banks realized they'd rather keep that margin. Here's what actually works in 2026: focus on the signup bonus (usually a few hundred bucks if you meet their requirements), then check if they have any perks tied to having money sitting in savings or hitting a minimum balance, because those little monthly bonuses still exist at some banks even if the debit card rewards vanished. My trick is to use those signup bonuses as your switching metric - figure out which bank gives you the best one-time payout relative to how long you'd need to stay, then pair it with a good cashback credit card for your actual purchases, since cards do that cashback thing way better than checking accounts ever will now.
Skip the ongoing rewards chase - focus on signup bonuses instead, they're genuinely worth your time. I looked around recently and found most places offer $200-500 just for opening an account and meeting basic requirements like direct deposit, which takes maybe two minutes to set up. The per-purchase cashback stuff basically evaporated because banks figured out they lose money on it, so don't waste energy hunting for that. Your best move is hitting a comparison site, filtering by signup bonuses, and picking whichever one has the highest offer plus decent customer service - that's where the real value is these days.
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