BancWest IRA and Brokerage Account Bonus: Get Up To $2,500 In Cash

This post is part of our series on IRA & Brokerage bonuses. Every Tuesday we share another bonus with you.

The Offer

BancWest is offering a tiered bonus in the form of cash for new customers who open and fund a brokerage or retirement account and add or transfer at least $50,000 into the account within the qualifying period.

Only the deposit at the highest eligible tier ($1,000,000) would yield the maximum potential bonus value ($2,500).

Up to $2,500 Cash Bonus

Bonus	Deposit	Receive	Return on Investment (pre-tax, shown for cash value bonuses only)
	$50,000+	$200	.4%
	$75,000+	$300	.4%
	$250,000+	$700	.28%
	$500,000+	$1250	.25%
	$1,000,000+	$2500	.25%

Direct link

To receive this bonus you must do the following:

• Open a new, eligible BancWest investment account using the link above or by phone. It is mentioned that your enrollment code should be provided when the account is opened.
• Deposit into the account external qualifying assets in the amount correlating with the deposit you want to receive within 60 days of enrollment.

Rules:

• Eligible accounts include individual or joint brokerage accounts or IRA accounts.
• Qualifying assets included external assets of cash, securities, fixed and variable annuities, and real estate investments trusts. Life insurance holdings do not count as qualifying assets.
• The maximum cash bonus allowed for an eligible Account cannot exceed $2,500 within a six-month period.
• An eligible account is one that has been enrolled in this offer before depositing or transferring the qualifying assets.
• When offer requirements are met, the cash bonus should be credited to the account within six weeks.
• You must maintain the minimum qualifying account balance for at least one year from the date on which BWIS receives the assets to avoid being charged back the cost of the bonus.
• You will need to pay any taxes resulting from this cash bonus.
• Offer is nontransferable and available only in the U.S.
• Employees of BWIS are not eligible.
• Investing involves risk.

The Verdict

This is another bonus with a hefty deposit requirement that should not sway you unless you were already considering investing with BancWest. If this bonus looks very familiar to you, it’s because the bonus tier largely mimics that of the Fidelity deposit promotion. The only difference is that the $250k+ and $500k+ tiers have a slightly larger cash payout than Fidelity’s offer, and the second deposit tier of $75k can garner you the $300 cash bonus at a slightly lower qualifying deposit than the parallel Fidelity deposit tier.

That said, at these amounts, such differences are miniscule. If you should happen to be choosing between BancWest and Fidelity, it would be best to consider the brokers’ overall features and funds to determine which platform is best suited for your needs. There are also other brokers we have covered that offer cash bonuses at much lower deposit amounts if that should interest you.

Customers who open and maintain a BancWest investment account receive 15 online commission-free equity and Exchange Traded Funds (ETF) trades per month and then pay $6.95 for eligible trades thereafter.

Do you have experience with BancWest? Let us know in the comments below!

HT: Maximizing Money