Deal has expired, view the best current checking bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $300
- Availability: Must be a resident of Hawaii, Guam or the Commonwealth of the Northern Mariana Islands (CNMI)
- Direct deposit required: No
- Additional requirements: Deposit $15,000-$30,000
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $15, avoidable
- Early account termination fee: $75, 180 days
- Household limit: None listed
- Expiration date: February 28th, 2019
Contents
The Offer
- First Hawaiian Bank is offering a bonus of $300 when you open or upgrade to a Priority Banking Checking account with $30,000 from another financial institution. You can also get $150 with a deposit of $15,000.
The Fine Print
- Priority Banking: Open or upgrade to Priority Banking with a minimum opening deposit of $30,000 drawn from another financial institution, by February 28, 2019, to receive a $300 statement credit (or $150 statement credit for $15,000 minimum opening deposit drawn from another financial institution).
- Accounts closed or converted out of Priority Banking within 180 days will be assessed a $75 charge.
- The statement credit will be completed the month following the qualifications being met.
- The rates may change after the account is opened/upgraded. Limit of one statement credit per offer or account.
- Business and corporate accounts do not qualify for this offer.
- These offers cannot be combined with any other discounts, offers or promotions.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The easiest account to keep fee free is the priority banking 1 account. This has a $15 monthly fee, this is waived with a combined balance of $6,000.
Early Account Termination Fee
If the account is closed or converted within 180 days a $75 charge will be assessed.
Our Verdict
Doesn’t seem like there is a minimum deposit length for the $150/$300 bonuses, keep in mind the account does need to be kept open for 180 days to avoid the early account termination fee. Still keeping $6,000 in the account for half a year for a $300 bonus seems like a good deal, assuming it’s a soft pull to open and that you have the initial liquid funds required. As always, please share your experiences with this bonus in the comments below.
Hat tip to Maximizing Money
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
Any one got the bonus yet? My 2nd statement just posted and still there isn’t a $300 statement credit.
Went to my local branch yesterday and asked why my statement credit wasn’t posted yet. I provided copies of the sreenshots of the promotion. After 15 minutes, the employee told me that they will call me once they figure out the problem. Haven’t heard from them since. CFPB will probably need to step in soon.
$300 statement credit was posted 4/12/19. Didn’t file a CFPB complaint. A bit of a hassle, but I’m glad I got the bonus.
I was told that cumulative deposits will work, but they must post within 2 weeks of opening the acct. You also need to apply in-branch for Priority Banking accts, in general. It seems like you can apply online, but your application won’t be considered complete until you go into a branch.
Would someone who is a resident of another state, but owns property in Hawaii, qualify for this account/bonus?
be that data point my friend, let us know
FYI, you’ll lose at least $75 due to the 180 day requirement.
It seems easy to get. I’ll go in branch and ask questions.
Did you apply?
I haven’t yet. Just giving myself time to collect 30k. For sure I’ll be ready before this deal expires in late February.
tried filling out the online app and all it does is tell you that a banker will be in touch with you within 5 biz days. no option to fund at all.
I plan to apply in branch and have a 30k check ready. When I went to First Hawaiian 2 weeks ago, the lady that I talked to recommended that I should have my funds ready to deposit when I’m ready to apply in branch for the checking account.
Any idea if they use Chex?
That’s what I’m afraid of. I applied for a lot bank accounts this past year. I recently got denied back in December. I started closing a few accounts lately.
Can confirm not Chex sensitive. No questions about external accounts. Quick and hassle free. Go go go!
You got your deposit in?
Yeah. Three biz days to clear. No hard inquiry. No CC funding. Ended up using a check to fund. If you have loan balances, those will count towards the minimum balance requirement in the checking.
Mahalo Yosh
Wow, tough residency requirement to be a resident of HI, Guam, AND the Mariana Islands! 😉
Changed to OR
Thanks doc, I’ll check this out.
Did you successfully apply?
hi there. sorry for the late reply, but i decided not to apply. i put my money in the american express 2.1% savings account instead.