A Direct Deposit New Account Bonus is an incentive offered by banks and credit unions to attract new customers. When you open a qualifying account and set up direct deposit, you can receive a cash bonus after meeting specific requirements, such as maintaining a minimum balance or completing a certain number of deposits within a designated timeframe. This bonus not only enhances your initial banking experience but also encourages regular account activity, making it a win-win for both the institution and the customer. Always check the terms and conditions to maximize your benefits.