[Expired] [Southern CA, In Branch only] OneWest Bank $250 Checking Bonus

Deal has expired, view more checking bonuses by clicking here

Update 10/3/19: There is a new link with the same requirements but they will also donate 2.5 hours of homework to students at Boys & Girls Clubs.

Update 5/12/19: Have confirmed this is $250 not $200 in branch.

Offer at a glance

• Maximum bonus amount: $250
• 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: Yes
• Credit card funding: Unknown 
• Monthly fees: $10, avoidable
• Early account termination fee: Six months, bonus forfeit
• Household limit: One per person, five per household
• Expiration date: December 31st, 2019 March 31st, 2020

The Offer

Direct link to offer (fine print found here) | Direct link to offer (charity 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
  • Open with a minimum deposit of $1,000 and maintain an average balance of at least $1,000 for the first 90 days after 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 (ACH no longer counts)

The Fine Print

• Bonus will be paid as a statement credit to the Checking Account within 90 days after the requirements above are met within the specified time frames. Checking Account must be open to receive the bonus and in good standing for at 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.
• Limited time offer. $250 bonus offer is for customers aged 18 years or older who successfully open a new OneWest Bank Personal Checking account, Premium Checking account or One Account (collectively, “Checking Account”) at any branch of OneWest Bank, a division of CIT Bank, N.A. (“OneWest Bank”) between February 11, 2019 and December 31, 2019and satisfy the following requirements:
• Can’t have enrolled in a bonus in the last 12 months

Avoiding Fees

Monthly Fees

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

Early Account Termination Fee

You need to keep the account open for six months otherwise you will forfeit the bonus.

Our Verdict

Last year we saw a bonus of $250 and another $250 donated to charity, that was only better because of the charity donation. I’ll still add this to the best checking bonuses. One upside to this bank/bonus is that ACH deposits specifically work so much easier to hit the direct deposit requirement.

Hat tip to reader John

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