Posted by William Charles on September 23, 2019
Bank Account Bonuses

Published on September 23rd, 2019 | by William Charles

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[Expired] Bank Of The West $300 Business Checking Bonus [In Branch only, AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY]

Deal has expired, view more bank account bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY In branch only [Branch locator, click locations in the top left]
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Yes (inquiry sensitive)
  • Credit card funding: $500 max, Visa/MC only
  • Monthly fees: $10, avoidable
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: October 31st, 2019

The Offer

Direct link to offer

  • Bank of the West is offering a bonus of $300 when you open a new business checking account and complete the following requirements:
    • Have a minimum balance of $3,000 in the account on the last business day of each of the two full calendar months immediately following the month the account was opened
    • Conduct 10 qualifying transactions, these must post to the account by the last business day of the second full full calendar month immediately following the month the account was opened

The Fine Print

  • To receive the $300 business checking bonus: 1) Open a single new Classic Business Checking account or Choice Business Checking account with a minimum opening deposit of $100 in new money to Bank of the West between 08/31/19 and 10/31/19 AND 2) have a minimum balance of $3,000.00 in the account on the last business day of each of the two full calendar months immediately following the month in which the account was opened (business days include Monday through Friday, and exclude holidays), AND 3) conduct 10 qualifying transactions, all of which must post to the account by the last business day of the second full calendar month immediately following the month in which the account was opened.
  • Qualifying transactions include most deposits (ATM, wire, mobile, teller/in-branch, ACH, direct deposit, and Electronic Deposit Services), most withdrawals (debit card, bill pay, wire, and ACH), and exclude any transfers between Bank of the West accounts or any Bank of the West credits or debits. A
  • count must be in open status to be eligible to receive any bonus.
  • Bonus will be credited to your open business checking account by 01/31/20.
  • Offer end date and availability subject to change without prior notice.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The easiest account to keep fee free is the classic business checking. This has a $10 monthly fee. This is waived if you do either of the following:

  • a minimum daily balance of at least $3,000 in this account OR
  • a combined average monthly balance of $6,000 in linked combined money market, savings or CD balances

Early Account Termination Fee

I’m not sure if there is any early account termination fee or not

Our Verdict

They previously offered a bonus of up to $1,250, but that required merchant services, point of sale equipment and the business credit card. You can currently get a $450 bonus on the business credit card and this time the $300 checking bonus doesn’t require merchant services, making this bonus actually worth doing. Unfortunately you need to open this in branch, so I’m not sure what business documents they require. If you go for this bonus then please share your experiences in the comments below. I will be adding this to our list of the best business checking bonuses.

Hat tip to reader skolkjer

Useful posts regarding bank bonuses:



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Hari
Hari

Adding “Business” to title would be great.

Dan
Dan

The footnote says only one bonus per business and per mailing address

Deborah
Deborah

There is also a targeted $600 checking bonus… not sure why DofC has not posted it… maybe because it is targeted?

Hari
Hari

DoC posts targeted deals as well. Someone share the details with them.

Deborah
Deborah

I emailed a pdf of the offer same day I received it.

reventon04
reventon04

I opened the personal checking in branch, succeeded and bypassed ChexSystems. I was declined by them online previously because of lol/24 ChexSystems inquries.

veeRob

Was there a trick to bypassing Chex? This post says they’re Chex sensitive.

IS250
IS250

Ever end up trying in-branch to bypass Chex? If so, how was your Chex? I’m 45+/12 so trying to see what my chances are.

I’m seeing a mix of denials/success in-branch.

AD
AD

Nice. I have a pretty grizzled Chex, and have a personal account with them for the other bonus. Denied today in branch for this. Granted, my Experian was frozen and he showed me the report that shows pulled Experian and Chex. But he said it’s a soft CR pull, so that shouldn’t matter. Just figured me already being a customer would help. Debating trying another branch, but not sure.

brykupono
brykupono

I just set up an appointment with the local branch manager after discussing required business documents. He said he would have no problem opening the account for a new sole proprietorship based on SSN, using legal name, and planning to file schedule S this year, so pretty much no paperwork required at least at my branch.

Bobby
Bobby

Sole prop, no docs, in and out in 40 minutes, very efficient banker, was helpful, good bank so will keep the account.

brykupono
brykupono

C, not S :/

Jim
Jim

Thanks

Were business docs requested, but you managed to avoid it by claiming to be newly established? Or did he not ask them of you?

brykupono
brykupono

Yes, asked for them but can do it without.

Sonia
Sonia

Anyone know why some branches need fictitious docs while others done?

BlissfulApathy
BlissfulApathy

IME, for the biz checking bonuses, you need to specify to the banker that you have a sole prop and you don’t have a DBA. However, this may depend on your state – my state doesn’t require that sole props register as a biz.

sonia
sonia

thank you! I wonder why in my state some branches request docs while others don’t.. pretty odd

sonia
sonia

Opening an account was simple. Banker took down information he needed and I just sat there playing on my phone and answered him time to time. One branch needed fictitious docs while this branch didn’t, so I’d try multiple branches if you are a sole prop and have bankers that request docs. took around 40 min from start to finish. The only thing was that the chairs were extremely uncomfortable to sit in lol

D
D

So if I’m understanding the terms correctly and I opened my account today 10/3, I would need to have the 3k balance in the account by 11/30 and 12/31. Is that correct?

Also I was told no DBA was required and then when I showed up they said the manager stated this was required. The process to sign up was pretty painless and I was pre-approved for the business credit card with a 60k point bonus after 5k spend. I declined since they stated it would show up on my personal report and I didn’t want to risk a 5/24 slot.

Rowan
Rowan

Yep, that’s the way I read the terms. Don’t forget to do the transaction requirements 10 times well before 11/30 though to make sure they post in time.

John Yossarian
John Yossarian

Opened yesterday in CA as sole proprietor, no documents required, took an hour. I’ve opened 6-8 checking accounts in the last 12 months, including a personal Bank of the West. Pending a decision on their rewards Mastercard.

NL
NL

Opened in branch, quick and painless. Banker claimed that she didn’t need to attach a promo code or do anything special on her end for the account to qualify for the bonus. I’m a little worried as to whether she knows what she’s talking about, anyone have any experience in this regard?

BlissfulApathy
BlissfulApathy

I would recommend getting documentation that shows that the bonus is attached.

Jay
Jay

Funny you mention this.
After signing up in branch, I had the same worried feeling as NL.
Especially since my banker seemed to have no clue at all (I literally had to help him out several times during the application process with real basic stuff regarding the app form).

Anyway, so a few days later I decided to call in to have their general phone support verify a promo was attached to my business account.
Talked to CSR person who understood my concern (it seemed) and put me on hold to research. After around 30 minutes on hold, the CSR guy connects back and tells me happily that “after myself going through multiple internal departments I was connected to the branch the account was opened at and spoke to the same banker who opened it for you. He confirmed that the bonus SHOULD be attached, but couldn’t really tell me how or where…” ?!?

At that exact point I just gave up, and am now awaiting my faith come bonus time in a few months 😉

nik
nik

I tried to open an account but was denied. I have opened a few accounts this year but not excessive. I got a “Notice of Action” with what looks like a score. It is called QualiScore but I don’t know if that is ChexSystems or BofW proprietary score. In any case, This score was pretty bad for me. I had opened another account the same day and one more the previous day. I think account openings in quick succession are penalized heavily and may affect your chances even if the number of account openings in the last 12 months is not excessive. Ironically my credit score (score 9) is stellar.

BlissfulApathy
BlissfulApathy

What was the score you received? I’m on the fence of whether or not to apply since I have at least six pulls on chex in the last 5 months.

Gadget 🕵️

nik QualiFile Score comes from Chex. https://wallethub.com/edu/cs/chexsystems-score/13318/

Some of the info in the article is old… such as now you can request your score for free from the Chex website. They mail it to you in about a week. Fortunately, very few banks use the Chex score.

ChurnNBurn
ChurnNBurn

Opened in branch during lunch break with LLC. Took under an hour and the branch manager was super nice and did not push/upsell anything after the first “no thank you.” She confirmed there was no promo code to enter and as long as the account was opened within the timeframe and meets the criteria the bonus will post as stated. I’ll post back with the results in Feb.

Andrew
Andrew

Does anyone know if P2 can sign up under same address ? Fine print says: “limit of one business checking bonus per business per mailing address” what’s the verdict guys?

Rowan
Rowan

Pretty sure I’ve seen dp’s indicating they actually enforce this but haven’t made any efforts to test it myself (my P2 would be VERY unhappy if she had to put herself through the pain of dealing with banker small-talk without actually seeing the promised cash at the end of the process!)

CL
CL

No, they are pretty clear only one bonus per address. I am myself wondering if I can get both personal and business accounts bonuses at the same address. Will have to ask when I go in.

BlissfulApathy
BlissfulApathy

Did you find out?

FlyingBoat
FlyingBoat

They told me in Branch my son couldn’t sign up if he was living at the same address as myself.

I also had an offer from them in the mail for setting up a personal account for $600 bonus, requirements $15K deposit and $25K in all linked accounts for 3 months.

I went for that as well, but also am wondering if I would get the bonus because I am also getting the Business bonus. It also included a money market offer at 1.7%, which isn’t bad. So I will stick the 25K in there and see if I get the bonus.

The bank person had no idea whether I would get bonuses. Even for the business account she told me and my son the next day that they have nothing to do with meeting requirements, it is up to us, and they can’t help us. So I figured she would be of no help in understanding if I would get the personal and business bonus. But since she preemptively told me my son couldn’t get the bonus if he was at the same address (which he isn’t), I figured she would have told me as well that I wouldn’t receive the personal because I was receiving the business bonus. I figure Business and Personal must be different, but I guess I will wait to find out.

Just reading the bonus again for the personal account. It says open an account with at least 1c and then deposit $15K by the end of the month of account opening. I made a single deposit of 15.2K to open the account. Any idea if that would be an issue since it was the opening deposit, not an open and then deposit?

Ace Malik
Ace Malik

The qualifying transactions terms state: most withdrawals (debit card, bill pay, wire, and ACH), so its possible using amazon reloads will not count

Ace Malik
Ace Malik

Spent about 45 mins with a business banker named Raul Velasquez, tried and apparently my account was not processed properly as i can not get online access, both online customer service and Raul say i now need to come back into the bank so they can fix their mistakes, i am not happy at all and do not recommend this bank to any person who values their time

Bruno
Bruno

I though 10x $1 bill pays would count, but my banker was not so sure about the $1 amount. He said there could be a minimum of $10 for bill pays. But this is not stated and he was not sure. Anyone attempted to send bills for less than $10 that counted as qualified transactions?

sonia
sonia

10 $1 should be fine. it’s what I did but I have yet to receive a bonus until next month

Champ
Champ

Day 1: I spent an hour. The banker obviously didn’t know how to open business bank accounts.

Day 2: Online access still didn’t work only to find out that I needed to keep the SSN link blank. Once I created the online profile, I was promoted to go back the branch to fill out some form that is only available after the online profile is created.

Day 3-4: Now, I have to wait a couple of more days for online access to hopefully work.

What a mess. I worked really hard for this bonus. The personal account I opened last year wasn’t bad, so it must just be a business account thing.

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