Posted by William Charles on February 17, 2019
Bank Account Bonuses

Published on February 17th, 2019 | by William Charles

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[CA only] Wescom Credit Union $200 In Branch Checking Bonus

Offer is back and valid until December 31st, 2019. Hat tip to reader EW.

Offer is back and valid until December 31st, 2018. Hat tip to reader EW.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Anyone who lives, works, worships, or attends school in the seven Southern California counties (Los Angeles, San Bernardino, Orange, Riverside, San Diego, Ventura and Santa Barbara) is eligible to open an account at Wescom
  • Direct deposit required: Optional
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: $8, waivable
  • Early account termination fee: Unknown
  • Household limit: None mentioned
  • Expiration date: April 30th, 2017 December 31st, 2019

The Offer

Direct link to offer

  • Wescom Credit Union are offering a bonus of up to $200 when you use the promo code 2018WESCOM , broken down as follows:
    • Open a Wescom Checking Account with a $100 deposit = Earn $50
    • Become a Signature Member during your New Member Period* = Earn another $50
    • Achieve Platinum Signature Membership during that same period = Earn an additional $100

wescom $200

Signature Membership

You need a certain amount of qualifying relationships to achieve signature membership and platinum signature membership.

Here is what qualifies a signature relationship:

Checking

Savings

Electronic Services

Loans or Credit Cards

Insurance and Financial Services

Student Relationship

  • Members age 18-25

Account Open Date

  • Account open longer than 10 years
  • Account open longer than 25 years
  • Account open longer than 50 years:Automatic Platinum Signature Membership

The Fine Print

  • Checking Accounts must be opened with a $100 deposit by 04/30/2017 to qualify for the Wescom $200 offer and is redeemable at Wescom branches.
  • The monthly $8 Checking Account fee is waived for the first 90 days and by achieving Signature Membership. Additional ways to waive the monthly fee are available. Offer only applies to non-members and is not valid with any other offer. Bonuses will post to the member’s account the month after member meets qualification. Account opening and Visa® Check Card subject to verification by ChexSystems, a consumer reporting agency; Primary Payment Systems, an independent verification service; and Credit Union approval. Bonuses are considered interest and will be reported on IRS Form 1099-INT. Youth Account members, Wescom employees, their families, Wescom Volunteers, and Wescom Board of Directors are not eligible for this offer.Anyone who lives, works, worships or attends school in the seven Southern California counties is eligible to open an account at Wescom. A $1 deposit to a Regular Savings Account is required. Certain conditions and restrictions apply. Ask for further details. A $1 deposit to a Regular Savings Account is required. Certain conditions and restrictions apply. Ask for further details.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Their no fee checking account has a $8 monthly fee that is waived if you have platinum or platinum signature membership.

Our Verdict

They offered the same bonus and requirements last year. They have also been recently offering a $100 referral bonus for both parties. It’s extremely difficult to get 8 or more signature relationships, even if you do checking account with direct deposit, bill pay, check card, eStatements, online banking you only have 6 points (only enough for the $100 bonus), you’d basically need some sort of loan to get the full $200 bonus.

Even though this $200 bonus is one of the larger ones out there, I put this in the “way too hard” basket and wouldn’t recommend it. You can see bonuses we do recommend by clicking here.

Hat tip to Im_a_newb on /r/churning

Useful posts regarding bank bonuses:



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MontyFC
MontyFC

After I saw the title “CA Only”, I became super excited … and then I saw SoCal 🙁 …

Bummer …

Ferris
Ferris

ugh its inbranch only?? I was just in LA last weekend, won’t have a chance to go back down for a while 🙁

R
R

Got this in mail last week, ignored as too hard

kt
kt

next time they might also add “slay a dragon” as one of their requirements to level up.

JL
JL

Looks like so many steps required… I think i’ll pass…

Ma0zed0ng
Ma0zed0ng

For anyone who did try it, I got $100 today from the offer.

eclipsor
eclipsor

what did you use as a DD?

churnking23
churnking23

can i be funded with a credit card? surprised no data points on this.

eclipsor
eclipsor

just applied at one of their mobile branches for the $200 promo, confirmed no HP and I was able to get the account open with over 25 checking accounts and inquiries so far this year. btw the bill pays its 2 per calender month for any amount apparently. now to figure out what counts as DD

eclipsor
eclipsor

also asked if there’s an ETF and she said no

eclipsor
eclipsor

follow up DP: got my 200 bonus today, local cu transfer counted as DD, and for an easy sig point you can set up a $500 3 month CD with no real penalty to close. unfortunately they’re changing the whole system for 2018 and taking away the easy ones so this bonus will be alot harder to get.

JC
JC

Was declined via their ChexSystems research. I had opened 10-15 accounts in last 12 months.

EW
EW

Offer has been extended through 12/31/18
https://www.wescom.org/wescom200/

EW
EW

Offer has been extended through 12/31/19

eclipsor
eclipsor

any idea if this is churnable? got the bonus dec 2017 and closed out a month later

David
David

Data Point on funding with credit card :
max $250 for savings
max $2500 for checking

actually, weirdly those are the max i can input for each account but the TOTAL must be less than $1300.. very weird.

Ended up doing $200 and $1100.

David
David

Might be a long shot but I can do a referral for $200 bonus. Let me know topikamew@gmail.com

Steve

Which credit cards do they allow for funding? amex?

Zamana
Zamana

“Their no fee checking account has a $8 monthly fee that is waived if you have platinum or platinum signature membership.”

Isn’t this misleading advertisement? It’s a no fee checking account but has a monthly fee.

calwatch
calwatch

Wescom has a CD deal: https://www.depositaccounts.com/banks/wescom-credit-union/offers/
Get an IRA CD and regular CD and that’s two points. One could get to eight points with the minimum $1000 in checking, a debit card, regular CD and IRA CD, $2500 in their (0.25% APY) money market account, mobile banking, card alerts, and $500 in DD a month. Make the $100 platinum signature bonus and then pull out the $3500 in the low interest accounts and cancel the DD and you are still at five to keep the account open fee free. Also the fine print says you can only go up in signature score in a calendar year, not down.

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