Offer at a glance
- Maximum bonus amount:
- Availability: Must be resident of CA. Maybe select counties?
- Direct deposit required: Yes or ACH credit of $500+ for three consecutive months
- Additional requirements: Enroll in eStatements, open with $100+
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: 06/01/2026
Contents
The Offer
- Exchange Bank is offering a bonus of $150 when you open a new everyday checking account with a $100 opening deposit and complete the following requirements:
- Have at least one monthly direct deposit or ACH transfer credit totaling $500 or more deposited into the account for 3 consecutive months
- Enroll in and select to receive eStatements
The Fine Print
- To receive $150 cash bonus: Open a new Everyday Checking account (subject to approval) by 06/01/2026.
- Fulfill the following three (3) requirements, beginning either in the month of account opening or the immediately following month: 1.) Open a new Everyday Checking account with a minimum opening deposit of $100. Current or former Everyday Checking account owners (including joint owners) within the last 60 days are not eligible. 2.) Have at least one (1) qualifying ACH credit totaling $500 or more per month, in aggregate, deposited into your Everyday Checking account for three consecutive months.
- Qualifying ACH credits include direct deposits or government benefit payments; and 3.) Enroll and receive electronic statements for your Everyday Checking account. Cash bonus will be paid to the open, eligible account within 150 days after account opening and after all promotional requirements have been met.
- The account must have an available balance greater than zero at the time of payout to receive the bonus.
- The bonus will be credited to the qualifying account and reported as interest for tax purposes. Any applicable taxes associated with the bonus are the responsibility of the account owner.
- To the extent required by law, Exchange Bank will report the total value of this bonus to the IRS on Form 1099-INT (or Form 1042-S, if applicable) for the tax year in which the bonus was paid.
- This is not an interest-bearing account. Exchange Bank employees and board members are ineligible. One bonus per account.
- Offer may change or be discontinued at any time without prior notice. Terms, conditions, restrictions, and fees may apply.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
Feel free to share your experiences with this bank in the comments below.
Hat tip to reader snailrock
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
