This bonus has now expired, you can view the best checking sign up bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Hawaii only, must open in branch [Branch locations]
- Direct deposit required: No
- Additional requirements: 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:Â October 31st, 2016
Contents
The Offer
- Open a new Kalo Simple, Plus or Deluxe checking account and complete 20 qualifying Visa debit card purchases before your statement cycle ends and earn:
- $25 per month for two months on the Kalo Simple account or
- $50 per month for two months on the Kalo Plus or Deluxe
The Fine Print
- Qualifying purchases are based on achieving 20 Visa debit card purchases, which must be deducted from your account by the end of your statement cycle.
- ATM transactions are not eligible.
- Cash back will be deposited into your checking account at statement cycle.
- Applicable to new accounts opened by 10/31/16 only.
- Limit of one gift per account.
- You will receive the deposit to your account with your statement cycle.
- Qualified Kalo Simple Checking accountholders will receive $25 per month, and Kalo Plus and Deluxe will receive $50 per month for two months.
Avoiding Fees
Kalo Simple No Monthly Fee
This account does not have any monthly fee.
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
$50 bonus isn’t worth a ChexSystems pull and it’s too difficult to keep the $100 bonus accounts fee free for this bonus to really be worth it in my opinion. The nice thing is no direct deposit is required, but really you will need a direct deposit unless you fancy having at least $7,000 on deposit not earning interest. You’d be much better off putting this money into a high interest account.
If you do decide to go for this bonus then here are some ideas on how to meet the debit card transaction requirement. We haven’t added this to our list of the best bank bonuses because of the reasons outlined above.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
New promo:
$300 or $500 bonus
Deposit $50k ($300 bonus) or $100k ($500 bonus) and leave for 60 days
$100 fee if account closed within 180 days
Expires 3/31/17
https://www.asbhawaii.com/personal/checking/plus-deluxe-promotion
This one also scheduled, thanks again!
Ooohmygad the first HI only bank bonus and it’s the bank I already use haha. Maybe the other three bank options will do me better than free can spam