What to do when you see those $200 offers from banks to open up an account

There are banks that want to give you $100 or $200 or more to open a new account.

The catch? You might need to make a minimum deposit. Or receive a direct deposit. Or keep your money deposited for a certain time. Or all of the above.

Here's how to score a bank bonus — while being confident that the bank's offer, hoops and all, is right for you.

Look online for promotions

Some banks will send targeted offers directly to certain customers. But you don't have to wait around for an invitation. You can search online for "bank bonuses" to get an idea of what financial institutions have to offer. A sizable bank bonus can be like earning a stellar rate.

Check requirements

You will want to read the fine print. With many bank promotions, the key to earning a big $100-plus bonus is to first make an even bigger deposit, say, $1,000 or more. You might be expected to make that deposit within the first two to three months of opening your account, and the bonus funds would be deposited a few weeks after that.

Know your fees

Some accounts that offer bonuses and perks also have monthly service fees. If you're not able to have those fees waived — by keeping your account balance above a minimum of a few hundred dollars, for example — you'll likely end up giving your bonus money back to the bank.

Maximize the balance

If you plan on continuing to use the savings account after you earn the bonus, look for an account that doesn't impose limits on how much of your money will earn its highest rate. For example, a financial institution might offer a rate of 1%, but only for the first $5,000 deposited. Anything above that amount might earn a lower rate.

It may be worthwhile to go for a high-interest savings account that pays a strong rate on your entire balance and maybe doesn't have a bonus, instead of an account with a bonus and a teaser rate for a smaller amount.

Once you've met the qualifying criteria, be on the lookout for the bank to deposit your bonus. Many offers state the institution will pay out the bonus within a few weeks. You can check transactions online, or check your monthly or quarterly bank statement. If you don't see the bonus, reach out to the bank's customer service for an explanation.