The U.S. banking industry has become fiercely competitive with the emergence of financial technology (fintech) firms. As a result, there is an increasingly tough battle between legacy banks and fintech startups over customers.
So while the industry leaders play chess to keep their customers, new banks are rolling out hard-to-resist offerings to attract the same people. Banks are giving cash bonuses to new account openers, along with existing customers who move their funds from one account to another. The cash bonuses vary between $100 and $2,000. Terms and conditions apply.