Posted by William Charles on January 8, 2016
Bank Account Bonuses

Published on January 8th, 2016 | by William Charles

100

[Expired][CA Only] HomeStreet Bank $200 Checking Bonus

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: $15 if closed within 90 days
  • Expiration date: None specified

The Offer

Direct link to 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.

home street

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.



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Caleb Kurtz

I know it says recurring, but what are the odds a tax return from the feds would count as an ACH deposit?

Jacob T
Jacob T

Depends on the bank. Some banks have flagged and excluded certain remitters i.e. Fed Return wont work but SS/SSI will.

Shawn
Shawn

Signed up, will keep you posted… Their website is a little clunky.

From the fine print, it appears only one DD may be required for bonus.

Justin
Justin

Did you have an option to fund from a credit card? Thanks.

shawn
shawn

No, funding options are either ach push from external account (to be set up from external account) or mail them a check.

TJ
TJ
Sang
Sang

So is the bonus $100 or $200? The title and main heading state $200, but the fine print says it is only for $100.

anthonyjh21
anthonyjh21

Their terms are confusing to say the least. For starters, I’m guessing they didn’t edit the part where they’re issuing only $100 (it’s also in the pasted terms above here on DoC). I’ll probably be taking a screenshot before applying just in case.

Also, the terms suggest you need to have reoccurring $500+ DD but then again I also get the impression you can do multiple DD in a given month that add up to $500 to satisfy the requirement. If they’re issuing the bonus within 45 days then it also only makes sense that you only need to do one month of $500+ in DD’s to get the $200 bonus (and not reoccurring).

anthonyjh21
anthonyjh21

Eh, the 45 day thing doesn’t make sense lol… I need to go to bed. Hopefully there’ll be data points from anyone else who can chime in on what was required with previous bonuses.

Alex
Alex

Opened account in Cali. I talked to one of the reps and confirmed the $200. They dont have a very good online situation, but they are definitely decent on the phone. The online portal is good enough. This is a more personal/local bank. The first person I talked to said HE would be the one issuing the bonus and reviewing everything. Because of their lack of online presence, I would say a simple ACH would trigger the direct deposit. Who knows? Ill keep updated

onTheGroundFloor
onTheGroundFloor

I would think that a manual review by a person would make it less likely that anything but a true DD would work, but I’m hopeful.

Nick
Nick

Hmm, reading through the checking account options, but not quite clear how the SelectPlus and Select differ?

Reading the Checking Accounts page @ https://www.homestreet.com/personal/banking/checking suggests only Select and Premium Select Checking exist featuring the “Select” moniker…

Roy
Roy

I have the same question as well. Which checking account is better to open for min fee option?

Nick
Nick

I called up customer service and was told the SelectPlus option is for Kaiser Permanente employees. They recommended the Select account.

The CSR also confirmed the availability of the $200 bonus.

On a related note, they require a signed signature verification form before the account is fully opened and it took almost two full weeks before I received mine in the mail.

Vic
Vic

“Unfortunately, we cannot process your application.”

Well… I called the CSR and she said there’s no way for them to retrieve the information after this happened, and my only option is to try again.

She also mentioned that the application system is really new, like 3-4 weeks new.

Roy
Roy

I tried to apply twice but the message ““Unfortunately, we cannot process your application.” kept showing up. Is the way to go around this or have to go in branch to apply?

Tim
Tim

Anyone get this bonus yet? Wondering if they batch process these bonuses or if it’s time based?

Shawn
Shawn

Not yet. It’s been just over three weeks and I did an Ally ACH push. Will do an employer DD if I do not receive soon

chasinthetiger
chasinthetiger

They made it sound on the phone like it would take 45 days from DD. I have done 2 employer DD’s and nothing yet.

trackback

[…] [CA Only] HomeStreet Bank $200 Checking Bonus […]

Alex
Alex

Received $100 for account opening. $200 bonus is for DD and will be deposited within 45 days

Rdigit
Rdigit

How much did you initially deposit and did you push ACH or DD anything to get the $100 account opening bonus?

I mailed a $250 check that was deposited on 1/28/16 and have not received any account opening bonus.

Alex
Alex

Initial deposit for me was $1000

Alex
Alex

Account Opening bonus of $100 will be deposited within 30 days of account opening. $200 bonus will be deposited within 45 days of meeting DD requirement.

Shawn
Shawn

Received $100 for Select plus checking 30 days after opening, still nothing for Ally ACH. Did employer DD yesterday and it coded same (ACH CREDIT). Will update.

Nick
Nick

Thanks for sharing the datapoints — may I ask if you received the credit exactly at 30 days? I’m at ~35 days now and haven’t received the $100 bonus

A Different Alex
A Different Alex

I received my $100 opening bonus on 1/29 after opening online on 1/6. I received a phone call on 1/7 confirming the opening, received the signature card on 1/12 and mailed it back the same day.
Make sure you open the account with $100 minimum or you may not get the bonus.
I haven’t done any sort of direct deposit at all yet.

Shawn
Shawn

It took about a week to show up on transaction list, but was dated at the 30 day mark

Alex
Alex

Hi Nick…

I think you didnt get the $100 extra bonus because the selectplus seems to be linked to $100. Did you do select or select plus?

Kevin
Kevin

I opened the Select account about a month ago…Do you think if I can switch to Select Plus to get additional $100?

A Different Alex
A Different Alex

Highly doubt that. There’s wording under footnote 1 of the offer page that states “Individuals can only receive one new checking account-related bonus per 12-month period.”
Seems pretty cut-and-dry.

Roy
Roy

I just received a phone call today confirming the SelectPlus account opening. I asked about the promo, but the CSR only mentioned the 200$ sign-up (not the 100$ account signup bonus). Do you know if the 100$ offer has expiration date?

Alex
Alex

I’m honestly confused myself as to how I got the extra $100. I know that the original terms when signing up said $200.

That being said, I suggest you send them a direct message through their online portal. When I did this, they confirmed the $300 total and even gave details as to how the $100 was seperated.

anthonyjh21
anthonyjh21

I remember back when this was posted in January that the terms had stated something about $100 (I commented about it too) but I don’t recall exactly what was written. Now when I look I find nothing about $100. My memory could very well be hazy but I thought there was a mention of both $100 and $200, although poorly worded. At the time I thought it was an either $100 or $200 offer, not both. Wasn’t until you confirmed you received $300 total that I opened an account.

Anyone have a screenshot of this offer from January?

Alex
Alex

I don’t have a screenshot, but the offer stated $200 in the title, but only $100 in the fine print. They are a disorganized bank and are new to online banking. I think they had some glitches getting started and recently changed their terms. My experience says that they have fixed the $100/$200 confusion and are now only depositing $200 per original terms.

Roy
Roy

I just got a SM confirmation today that I will receive both the 100$ and 200$ bonuses (I signed up for the Plus checking)

anthonyjh21
anthonyjh21

When did you open your account and did you specifically ask about the extra $100 or was it just listed when they laid out the terms of the bonus? I’d think it’s best we don’t mention the $100 portion if that’s not intended for us (thought I read somewhere it’s for specific employees only).

Roy
Roy

I opened it on 3/2. I did not ask about the $100. I only knew about it from the comments here. You only get the extra $100 from opening the SelectPlus Checking account. I believe it should only be opened to Kaiser Employees or if you are related to a Kaiser Employee. They did ask me about it during a phone call. I just said I was “related” to one. They never asked for any proof. I think it is best not to ask about the $100 until your SelectPlus account is successfully opened.

anthonyjh21
anthonyjh21

That’s actually a solid response, might steal it if asked. Thanks for the info as well. I opened mine the day after yours so we’ll probably both be getting the bonuses around the same time. I’ll be sure to post when mine hits.

Shawn
Shawn

Received $100 for select plus 30 days after opening
Received $200 for ACH transfer from ALLY 45 days after transfer.
$300 total

chasinthetiger
chasinthetiger

same here, I opened the SelectPlus checking.

Roy
Roy

Do you need to verify with them that you are a “Kaiser Employee” to open the Select-Plus account?

chasinthetiger
chasinthetiger

nope

Alex
Alex

No verification needed.

Roy
Roy

Thanks for the quick replies!
I just opened the account. Do you know where I can find the routing/account number of my account? (So I can ACH push to it)

A Different Alex
A Different Alex

Your account number was displayed on your account opening confirmation page. If you didn’t save that page, you’ll have to wait for a statement to post or call customer service.
Routing number you can Google, but it’s 325084426.

anthonyjh21
anthonyjh21

Appreciate the data point.

Tim
Tim

Got my $200 using ACH from Discover Checking. Bonus posted 45 days after, which was on the last day of the following month of the deposit.

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