Bonus has now unfortunately expired.
Offer at a glance
- Maximum bonus amount: $200
- Availability: Offer valid in California only
- Direct deposit required: Yes, $500+
- Additional requirements: Use promo codes listed below
- Hard/soft pull: Soft
- Credit card funding: None
- Monthly fees: None
- Early account termination fee:Â $15 if closed within 90 days
- Expiration date: None specified
The Offer
- Receive a sign up bonus of $200 when you  complete the following requirements:
- Open a SelectPlus or Select checking account online or at a HomeStreet Bank branch with a required minimum opening deposit of $100.00
- A qualifying direct deposit of $500 or more per month must be received within 90 days of account opening. Your direct deposit needs to be a recurring electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government.
The Fine Print
- Bonus will be deposited into account within 45 days of the receipt of Direct Deposits of $500 or more to this account
- Direct Deposit of $500 or more must be made to this account within 90 days of account opening to be eligible for the $100 cash bonus
- Bonus is considered interest and will be reported on IRS Form 1099-INT
- Offer only available to new HomeStreet Bank consumer checking account customers. Offer not available to existing HomeStreet Bank checking customers or individuals who have had a HomeStreet Bank checking account in the last 12 months
- Individuals can only receive one new checking account-related bonus per 12-month period
- Offer is subject to cancellation without notice and cannot be combined with any other offer
Avoiding Fees
Select checking does not come with any monthly fees, there is an early account termination fee of $15 if the account is closed within 90 days of account opening.
Our Verdict
There are smaller bonuses of $90 and $100 for those that live in WA, OR or HI (there is actually a $200 in branch offer for those in HI). I’ll probably go for this offer when I have the time, I can easily change my payroll so worrying about direct deposits isn’t a big issue for me. Fingers crossed that they allow credit card funding. If you have any experiences with this bonus, please share them in the comments below.
We’ve  added this to our best deposit account bonus page & it’s added to our complete listing of all of these bonuses.
