Bank of the West Offers $150 And $300 Checking Bonuses

POSTED ON BY

Availability: Market area includes Arizona, California, Colorado, Iowa, Idaho, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming.

Now through August 19, 2016, Bank of the West (BotW) is offering two checking bonuses: $150 Easy Checking bonus and $300 Premier Checking bonus.

$150 Easy Checking Bonus Requirements

  • Open an Easy Checking account with a minimum deposit of $100 of new money.
  • $100 bonus for a Direct Deposit of at least $250.
  • $50 bonus for at least ten debit card purchases of $3 or more each.

The fine print further explains that,

To receive the $100 bonus, customer must have a direct deposit of at least $250 (two or
more direct deposits that add up to $250 do not qualify) posted to the account by 10/31/16.
Direct deposit must be payroll, Social Security, pension or other government benefits.

and

To receive the $50 bonus, customer must request, receive and use a new Bank of the West
Debit Card linked to the new checking account for 10 or more debit card purchases all of
which must post to the account by the last business day of the month for each of the first
two full calendar months immediately following the month in which the opening deposit
posts to the account, for a total of 20 or more transactions. Each purchase must be $3 or
more. ATM transactions are excluded. All required purchases must be posted by 10/31/16.

$300 Premier Checking Bonus Requirements

  • Open a Premier Checking account with a minimum deposit of $500 new money.
  • Maintain a $50k minimum combined average monthly balance in Premier Checking, “plus other linked personal checking, savings, money market accounts, non-IRA CDS, and eligible BancWest Investment Services (BWIS) investment accounts.”
  • $50k minimum balance must be maintained “for each of the first two full calendar months immediately following the month in which the opening deposit posts to the account.”

Monthly Service Charges

The Easy Checking account monthly service charges of $8 (online banking and statements) and $10 (paper statements) can be waived by,

  • Maintaining average monthly balance of $1k+, OR
  • Receiving at least one Direct Deposit of $250+, OR
  • Making a minimum of ten debit card purchases

The Premier Checking account has a monthly service charge of $30, but according to the fine print,

We'll waive the monthly service charge for the first two statement cycles on new
accounts. Ask us about ways to waive the Monthly Service Charge thereafter.

According to CSR, those other ways include “maintaining a minimum $50k combined average monthly balance in the Premier Checking account, plus other eligible BotW checking, Money Market, savings, CDs, and IRAs.”

Limitations For Either Bonus

  • Not available to existing BotW customers with an open checking account as of July 8, 2016.
  • Only one checking bonus per individual and mailing address.*
  • BotW employees are not eligible.
  • Account must be open and in good standing as of October 31, 2016 to receive bonus.
  • Bonus to be credited to open checking account by November 30, 2016.
  • Early account termination fee of $25 if account is closed within 91 days of account opening.

*The fine print also states,

If the customer or other individuals residing at the same address
received or may receive any other consumer checking bonus from the
Bank between 07/01/15 and 11/29/16, then no one at that address is eligible.

Many thanks to DA reader, jake9, for his Forum post about Bank of the West’s bonuses.

Availability

Headquartered in San Francisco, Bank of the West’s market area covers much of the country west of the Mississippi, including Arizona, California, Colorado, Iowa, Idaho, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming.

Both the $150 Easy Checking bonus and $300 Premier Checking bonus are available now through August 19, 2016 to U.S. Citizens and Resident Aliens with a valid Social Security number.

Applying for either the $150 or $300 bonus can be done online or in person at any of 560 branches located in 19 states.

Bank Overview

Bank of the West (FDIC Certificate # 3514) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 2.33% (excellent), based on March 31, 2016 data. In the past year, US Bank has increased its total deposits by $3.98 billion, an excellent annual growth rate of 7.74%. Please refer to our financial overview of Bank of the West for more details.

Founded in 1874 as Farmers National Gold Bank, the Bank was one of only ten banks nationwide that were authorized to issue paper currency backed by gold reserves. 142 years later, Bank of the West is the 29th largest bank in the country, with assets in excess of $77 billion.

How the Bonuses Compares

Of the two, the $150 Easy Checking bonus appears to be the better investment: Premier Checking’s $50k minimum balance requirement for at least two full calendar months is onerous and diminishes the value of the $300 bonus greatly.

  • $50k for 3 months in a Premier Checking account = $300 bonus
  • $50k for 3 months in a savings account earning 1% = $124.53 interest

The $150 Easy Checking bonus breaks down as follows:

  • $100 opening deposit + $250 direct deposit for 3 months in an Easy Checking account = $150 bonus
  • $350 for 3 months in a savings account earning 1% = $0.87 interest

The above rates are accurate as of 7/14/2016.

Other Bank Promotions and Bonuses

Not eligible for Bank of the West’s checking bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.

Comments
Bank of the West Checking Account Bonuses Return - Certain States Only

Bank of the West has again brought back its $150 checking account promotion. It looks like the same promotion they were offering last year. 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 3/7/2014.

To qualify for the full $150 requires the...

Continue Reading
Another Bank of the West Checking Account Bonus - Certain States Only

Bank of the West has again brought back its $150 checking account promotion. It looks like the same promotion they were offering February. 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 8/30/2013.

To qualify for the full $150 requires the following:

  • Must...
Continue Reading
Another $150 Checking Bonus at Bank of the West - Certain States Only

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...

Continue Reading
Bank of the West's $150 & $200 Checking Account Bonuses - Certain States Only

Bank of the West has just started a new checking account promotion with a bonus of up to $150. There's also a $200 bonus, but to qualify you must open a checking account that requires a large balance to avoid a high monthly service charge. 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 8/31/2012.

To qualify for the full $150 requires the following:

  • Must open a new Easy...
Continue Reading
Competitive 5-Year CD Rate at Bank of the West in Some States

Update 5/25/2012: The 5-year Premium Money Market CD rate has fallen. According to the CSR, it's now 1.65% APY (down from 1.80% APY on 5/11). This is for California. Rates may vary for other states.

It's not common to find competitive CD rates at large brick-and-mortar banks, but I found one at Bank of the West. It's offering a 2.00% APY 5-year CD. This is the bank's Premium Money Market CD which requires a $2,500 minimum deposit. The rate isn't listed online, and it may vary by state. I called the...

Continue Reading

More Past Offers