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

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

Extended until December 31st, 2020

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: Soft pull
• ChexSystems: Yes
• 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 December 31st, 2020

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

Signature Membership

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

• Signature Membership — If you have a Signature Score of five to seven Signature Relationships .
• Platinum Signature Membership — If you have a Signature Score of eight or more Signature Relationships .

Here is what qualifies a signature relationship:

Checking

• Checking Account — Relationships based on Average Daily Balance
• Active BillPayer (electronic payments only)*
• Active Check Card

Savings

• Savings Accounts — Relationships based on aggregate share balances
• A Money Market Account with Average Daily Balance of $2,500 or more
• A Certificate Account with a balance
• IRA with a minimum balance of $500

Electronic Services

• eStatements (opted out of paper statements)
• Active eBranch
• Recurring Direct Deposit of $500+ per month

Loans or Credit Cards

• Mortgage Loan
• Active Credit Card† (or open account carrying a balance)
• Auto Loan (additional loans each receive one additional relationship)
• Home Equity Loan with a balance or a Home Equity Line of Credit
• Consumer Loan or Line of Credit with a balance

Insurance and Financial Services

• Wescom Insurance Policy Holder
• Wescom Financial Services Account with a balance

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:

• 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
• Banks That Allow/Don’t Allow Out Of State Checking Applications