Banks offering direct deposit bonus promotions attract new customers by providing financial incentives for setting up automatic deposits. These promotions typically reward account holders with cash bonuses after meeting specific criteria, such as maintaining a minimum balance or completing a certain number of deposits within a designated timeframe. This strategy not only enhances customer loyalty but also encourages individuals to switch banks for better benefits. As competition increases, savvy consumers can take advantage of these offers to maximize their banking experience and boost their savings.