And now is the time to cash in.
Forget the free pen or free checking, this month many banks are giving away free money to lure in new customers.
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For example, Citibank is offering a $500 Cash Bonus if you open a checking account by the end of February.
Now, there are stipulations that you do need to look into before you sign at any of these banks to get the bonus - like minimum deposit, balance or purchases made.
But there are some great incentives.
You can get up to $300 at Chase, $100 at Wells Fargo, $100 for Bank of America and $100 at Charles Schwab bank - all for opening checking accounts.
And finally, Citizens Bank is currently offering a $1,000 bonus for those who sign up for a CollegeSaver savings account.
For more information on these promotions, CLICK HERE.