[Expired] OneWest Bank $200 Checking Bonus [CA, In Branch only]

This bonus has expired, you can view the best bank bonuses here. Or click here to see if there is a new OneWest bonus.

Offer at a glance

Maximum bonus amount: $200 Visa gift card
Availability: Any OneWest bank [branch locator]
Direct deposit required: Yes, $650 per month for two consecutive months. ACH deposit counts according to fine print
Additional requirements: See below
Hard/soft pull: Soft
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: $10, avoidable
Early account termination fee: Six months, bonus forfeit
Household limit: None mentioned
Expiration date: May 31st, 2017

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
4 Our Verdict

The Offer

Direct link to offer

OneWest Bank is offering a bonus of $200 (Visa gift card or other gifts of your choosing) when you complete the following requirements:
- Open a new Premium Checking or OneAccount checking account
- Activate a new debit card within 60 days of account opening
- Sign up for eStatements within 30 days of account opening
- Set up and receive recurring direct deposits or ACH deposits totaling $650 or more per month for at least two consecutive months within 90 days of account opening

The Fine Print

Limited time offer. $200 bonus offer is for customers aged 18 years or older who successfully open a new OneWest Bank Premium Checking or OneAccount checking account no later than May 31, 2017, and meet all the following “Eligibility Criteria”:
1. Activate a new debit card on the new checking account within 60 days of account opening;
2. Sign up for eStatements on the new checking account within 30 days of account opening;
3. Set up and receive recurring direct deposits or ACH deposits totaling $650 or more per month for at least two consecutive months to the new checking account within 90 days of account opening.
Bonus will be paid, at customer’s option, in the form of a prepaid card loaded with $200 or a gift valued at approximately $200.
Customers who satisfy the Eligibility Criteria within the time frames specified above will be sent an e-mail with prepaid card and gift redemption codes and instructions within 30 days following the date on which all Eligibility Criteria were met.
Checking account must remain open and in good standing for a least six months after account opening. If checking account is closed by the customer or OneWest Bank within six months after opening, the value of the bonus may be deducted from account at closing.
Bonus is considered forfeited if not redeemed within 180 days after first email sent.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

You need to keep the account open for six months otherwise you will forfeit the bonus. The easiest account to keep fee free is the Premium checking account, this has a $10 monthly fee and this is waived if you meet any of the following requirements:

Maintain $1,000 monthly balance

Our Verdict

This is better than the $100 for both parties referral bonuses they have offered in the past. They have also offered this same $200 bonus before as well. I will be adding this bonus to our best bonus page as the requirements are fairly easy to meet (specifically states an ACH deposit will count towards direct deposit). Biggest downside is having to deal with a Visa gift card instead of cash.

Big thanks to reader, JarJar who let us know. Learn how to find bonuses and contribute to the site here.

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