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Another $150 Checking Bonus at Bank of the West - Certain States Only

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Bank of the West

Bank of the West has recently brought back its $150 checking account promotion. It looks like the same promotion they were offering last summer. Just like the last one, there's also a $200 bonus, but that requires a checking account with high monthly service fees that can't be easily waived. These promotions are listed on Bank of the West's home page.

Details for the $150 bonus are listed in this Bank of the West promotions page. The checking account must be opened by 3/8/2013.

To qualify for the full $150 requires the following:

  • Must open a new Easy Checking, Choice Interest Checking, or 55 Plus Checking account before 3/8/2013 with a minimum checking account opening deposit of $100.
  • $100 for establishing a direct deposit of at least $250 (two or more direct deposits that add up to $250 do not qualify). Direct deposit must be payroll, Social Security, pension or other government benefits. The first direct deposit must be posted to the account by 5/31/2013.
  • $50 for using a new Bank of the West Debit Card for 10 or more debit card purchases per month for each of the 2 full calendar months immediately following the month of account opening. Each purchase must be $3 or more. All required purchases must be posted by 5/31/2013.

According to the small print, customers who had a Bank of the West checking account as of 1/25/13 or who received any consumer bonus from the Bank between 1/25/12 and 1/25/13 are not eligible.

$200 Checking Account Bonus

Bank of the West is also offering a $200 bonus, but this requires opening a Premier Relationship Checking Account. This account requires a minimum balance of $15,000 or a combined minimum balance of $25,000 to avoid a $30 monthly fee. This promotion also ends on 3/8/2013. Full details are listed in this promotions page.

Business Promotions

Update 2/8/13: For those who live near Brea in Southern California, Bank of the West has additional business promotions at its new Brea branch. One is a $100 bonus for a business checking account. Account must be opened by 3/8/2013, and you must use your new business debit card for five qualifying debit card transactions before 5/31/2013. More details are provided in this flyer. You can also get a free review of your merchant processing service with the possibility of getting $1,000 if they can't meet or beat your current pricing. Refer to this Bank of the West page for more details.

Did You Receive the Bonus from Past Bank of the West Promotions?

In my past posts on Bank of the West promotions, readers have commented that the bank didn't pay out the bonus. In the last Bank of the West promotion, one reader commented that the bank didn't honor the promo even after the phone rep said that he qualified. In my March 2012 Bank of the West promotion two readers commented that the bank didn't pay out the bonus. However, one reader commented that he received the bonus in 2011. He warned that you cannot have a zero balance at the time when the bonus is to be credited. This is stated in the small print.

Many readers participated in Bank of the West's iPod touch promotion in 2010. Most reported receiving the iPod.

Beware of Monthly Fees

If you decide to give this promotion a try, don't forget Bank of the West recently ended its free checking account (see review). The Easy Checking has a $8 monthly ($10 with paper statements) unless you meet one of three requirements.

Hard Credit Pull

Regarding a hard credit pull, I was told in 2010 that they don't do a hard credit inquiry in the application (only a soft pull). So you shouldn't have to worry about a ding to your credit score (unless you apply for the credit card). However, ChexSystems could cause an issue. One reader reported in 2010 that it's their policy to deny applications when ChexSystems report more than 6 inquiries in the previous 6 months.

Account Availability

There's an online application, however, the small print states that Bank of the West products are offered to the residents of the states of Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming.

Bank of the West Online Savings Account

This is another case of a large bank's online savings account becoming a dud. When I reported on Bank of the West's online savings account in 2010, the top-tier yield was 1.25%. At that time ING DIRECT's savings account had a 1.10% APY. I just checked Bank of the West's online savings account yield for California, and the top-tier rate is only 0.35%, and that requires a $100K minimum. The rate for a $10K minimum is only 0.10%. As a comparison, the savings account at ING DIRECT (now Capital One 360) now has a 0.75%. So I think it's safe to say that Bank of the West has earned the dud status.

Bank of the West Overview

Bank of the West is a large bank with $63 billion in assets. It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 5.50% (excellent) based on September 2012 data. Please refer to our financial overview of Bank of the West for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 3514).

Other Bank Bonuses

We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.

You can view my latest bank bonus blog posts in this bank bonus page. I and DA members often post on bonuses in the checking account deals forum.


  Tags: Bank of the West, checking account, Minnesota, Washington, Oregon, Oklahoma, Arizona, Nebraska, Idaho, Iowa, Kansas, Missouri, New Mexico, North Dakota, South Dakota, Wisconsin

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