[Expired][HI only] American Savings Bank (ASB) Hawaii $100 In Branch Checking Bonus [New & Existing Customers]

Offer at a glance

• Maximum bonus amount: $100
• Availability: Hawaii only, must open in branch [Branch locations]
• Direct deposit required: No
• Additional requirements: Add $5,000 in funds & make 20 debit card purchases (signature or debit)
• Hard/soft pull: Unknown
• Credit card funding: Unknown, doubtful due to in branch requirement
• Monthly fees: $15-$30, waivable
• Early account termination fee: $100, 180 days
• Expiration date: February 29, 2016

The Offer

Direct link to offer

• Receive a sign up bonus of $100 from ASB Hawaii when you complete the following requirements:
  • Open, or upgrade to, a new Kalo PlusSM or Kalo DeluxeSM Checking Account with $5,000 from another institution
  • Make 20 qualified VISA® Debit card purchases within 30 days

The Fine Print

• Offer expires 2/29/16
• Limit of one gift per customer per new/converted account and only one account per customer is eligible
• Cash back will be deposited into your checking account by the third week of the month following the achievement of the 20 qualifying purchases
• If the Kalo PlusSM or Kalo DeluxeSM Checking account is closed or converted to another checking account within 180 days of opening/converting, a $100 fee will be assessed
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Kalo Plus $15 Monthly Fee

$15 Monthly Service Fee is waived with any of the following:

• $7,000 in combined personal monthly average deposit and/or
• outstanding loan balances or
• $2,500 in direct deposits per statement period

Kalo Deluxe $30 Monthly Fee

$25 Monthly Service Fee is waived with any of the following:

• $30,000 in combined personal monthly average deposit and/or
• outstanding loan balances or
• $5,000 in direct deposits per statement period. Fees could reduce the earnings on the account

Early Account Termination Fee

Bonus is forfeit if closed within 180 days.

Our Verdict

Not a good deal due to how difficult it is to keep the account fee free, if you put $7,000 into a 1% account for 180 days you’d earn roughly ~$35. Put it into a 5% account and you’d earn $175. Given how small this bonus is, the monthly fees completely kill this deal unless you can fund a massive amount with a credit card. Do one of these bonuses instead.

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