Bonus has now unfortunately expired.
Offer at a glance
- Maximum bonus amount: $200
- Availability: Offer valid in California only
- Direct deposit required: Yes, $500+
- Additional requirements: Use promo codes listed below
- Hard/soft pull: Soft
- Credit card funding: None
- Monthly fees: None
- Early account termination fee:Â $15 if closed within 90 days
- Expiration date: None specified
The Offer
- Receive a sign up bonus of $200 when you  complete the following requirements:
- Open a SelectPlus or Select checking account online or at a HomeStreet Bank branch with a required minimum opening deposit of $100.00
- A qualifying direct deposit of $500 or more per month must be received within 90 days of account opening. Your direct deposit needs to be a recurring electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government.
The Fine Print
- Bonus will be deposited into account within 45 days of the receipt of Direct Deposits of $500 or more to this account
- Direct Deposit of $500 or more must be made to this account within 90 days of account opening to be eligible for the $100 cash bonus
- Bonus is considered interest and will be reported on IRS Form 1099-INT
- Offer only available to new HomeStreet Bank consumer checking account customers. Offer not available to existing HomeStreet Bank checking customers or individuals who have had a HomeStreet Bank checking account in the last 12 months
- Individuals can only receive one new checking account-related bonus per 12-month period
- Offer is subject to cancellation without notice and cannot be combined with any other offer
Avoiding Fees
Select checking does not come with any monthly fees, there is an early account termination fee of $15 if the account is closed within 90 days of account opening.
Our Verdict
There are smaller bonuses of $90 and $100 for those that live in WA, OR or HI (there is actually a $200 in branch offer for those in HI). I’ll probably go for this offer when I have the time, I can easily change my payroll so worrying about direct deposits isn’t a big issue for me. Fingers crossed that they allow credit card funding. If you have any experiences with this bonus, please share them in the comments below.
We’ve  added this to our best deposit account bonus page & it’s added to our complete listing of all of these bonuses.
This offer is back for two days only on their Black Friday Event in Branch only Nov 25 and 26:
https://www.homestreet.com/black-friday-event
Thanks, will post shortly.
application link no longer valid. get a 404
anyone signup or get this bonus recently?… haven’t see anything
got my bonus 😀
I applied on Jun 18, at the end of the application they instructed me that to fund the account I would have to send in a deposit (which surprised me – no option to ACH). I sent in a check. I also set up an external account for ACHs and they sent test deposits. A few days later when I tried to log in to verify the test deposits, it told me to call customer service. I did so and they informed me my account was closed immediately and that I would receive a letter explaining why – they wouldn’t explain why on the phone. The letter said “after thoughtful consideration we regret to inform you that we are unable to open an account for you.” No explanation. What a waste of time.
Used ally as initial funding ($200) on 06/07 and used discover checking to transfer $501 on 06/17. Got the $200 bonus on 06/24.
This is what the customer service rep told me via SM:
The first $100 bonus is an account opening bonus which is credited to the account with 30 days of opening the account.
The second bonus of $100 will be credited to the account within 45 days of the receipt of Direct Deposits of $500 or more to this account.
Has anyone applied for the Select checking plus recently and gotten the $100 for account opening? Account approved online on 5/31/16 and $100 check for opening deposit received by them on 6/6/16..
HomeStreet Bank lied about my account not being opened and sent the opening deposit bank. Fact was the account was open and active and they decided to close it likely due to too many banking inquiries. Didn’t even call to explain and now my work direct deposit money is who knows where.
I’ll make them pay.
Would you mind telling me how many accounts you open since last year? Thank you.
BTW they do pull chexsystems, I had an issue with opening too many accounts for bonuses and a rep called me about it.
You sure you aren’t confusing this with a standard call a few weeks into having the account as basically a friendly follow-up to ensure you’re good to go? They did this with both my account and my wife’s. I had mentioned that SM and email were the easiest means of getting in touch with me and asked if there was anything they required and they told me it was just a call to touch basis and make sure everything is running smoothly for me.
+1 My account was opened on June 6 and closed on June 8 because I “had too many banking inquiries.”
Could you please tell me how many accounts you open in a year? I have opened 4 accounts since last year and am afraid that will be too many.
Received $200+$100 bonus for total of $300. Both bonuses under description were ” CHKG ACCT PROMOTION” and under details for each:
$200 – CHKG ACCT PROMOTION ACH PROMO
$100 – CHKG ACCT PROMOTION SLECTPLUS PROMO
My Select Plus was opened first week of March. Funded with $500 Serve on 3/11. Both bonuses posted on 4/4.
Going to leave $50 in there and sock-drawer it. No fees or monthly requirements so it’s a relatively easy bonus to earn. Their customer service does in fact blow (hard) but it’s still worth pursuing if you’re in California.
What DD did you use?