Many banks are enticing new customers with attractive bonuses for setting up direct deposit. These promotions typically require account holders to have a certain amount of money deposited within a specified timeframe, often ranging from a few hundred to several thousand dollars. By offering cash bonuses, banks aim to encourage customers to switch their payroll or government benefits directly into their accounts, fostering customer loyalty and increasing account activity. This strategy not only benefits consumers with extra cash but also helps banks grow their customer base and enhance their service offerings.