Posted by William Charles on November 1, 2019
Bank Account Bonuses

Published on November 1st, 2019 | by William Charles

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[Expired] [WA, CA, OR, ID, HI] HomeStreet Bank $300 Checking Bonus – Available Online

Deal has expired, view more bank account bonuses by clicking here

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: WA, CA, OR, ID, HI
  • Direct deposit required: Yes, $2,500+
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Yessensitive
  • Credit card funding: None
  • Monthly fees: $10, waivable
  • Early account termination fee: Account must be open when bonus posts
  • Household limit: One
  • Expiration date: November 15th, 2019

The Offer

Direct link to offer

  • HomeStreet Bank is offering a bonus of $300 when you open a new premium select checking account and complete the following requirements:
    • Receive qualifying direct deposits that total $3,000 or more within the first 90 calendar days

The Fine Print

  • Open a new Premium Select Checking account in branch or online between October 1, 2019 and November 15, 2019.
  • Receive qualifying direct deposits that total $3,000.00 or more within the first 90 calendar days of account opening. Qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Federal income and state income tax refunds do not qualify. Person-to-person, bank transfers or other electronic money transfers such as those made through internet payment services (for example, Zelle, Venmo, Amazon Payment, PayPal, etc.) do not qualify. Deposits made via a branch, ATM, online transfer or through mobile banking do not qualify.
  • Account must remain open for at least 180 calendar days.
  • If you have met all the bonus requirements, the bonus will be deposited directly into your new personal checking account within 240 calendar days of account opening. Your new account must remain open until the bonus is processed to receive the bonus. The bonus is considered interest and will be reported on IRS Form 1099-INT.
  • This offer is only available to new HomeStreet Bank consumer checking account customers.
  • This offer is not available to existing HomeStreet Bank consumer checking customers (either as the primary or secondary account holder) or individuals who have had a HomeStreet Bank consumer checking account in the last 12 months.
  • Bank employees and members of their household are not eligible for this promotion.
  • Limit of one new consumer checking account bonus per individual and per mailing address.
  • If the customer or other individuals, residing at the same address, received or may receive any other consumer checking bonus from HomeStreet Bank within the last 12 months prior to this account opening; then, no one at the address is eligible.
  • Offer is subject to change without notice, can be withdrawn at any time, and cannot be combined with any other offer.
  • The new account is available only to individuals and is not available to businesses, non-profits, or for use as a personal retirement account.HomeStreet Bank reserves the right to deduct the bonus from the account at closing, if the account is closed by the customer or bank within 365 calendar days after account opening.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Premium Select Checking comes with a $10 monthly fee; maintain a $2,500 balance to avoid monthly fee.

Early Account Termination Fee

Bonus will be posted within 240 days of account opening, account must be open when the bonus posts.

Our Verdict

Normally this bonus can’t be opened online, but looks like this one can. Most readers won’t be approved due to how ChexSystems sensitive they are unfortunately. Worth doing if you only have a few recent accounts opened, otherwise you’ll almost certainly be denied. I’ll add this to the list of the best checking bonuses.

Hat tip to reader John C

Useful posts regarding bank bonuses:



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MoreSun
MoreSun

Wasn’t this the bank that shut people down after they funded their accounts leaving people waiting on snail mail to get their money back? It’s setting off alarm bells in my head for some reason although I never opened one myself.

New2CCGame
New2CCGame

Thanks for the heads up, i was considering this.

Raj
Raj

Have to research before apply and already had few account this year can’t afford deny as I see from other DPs

Kyle ❤️

MoreSun is their any reason not to still attempt to apply for ones that are likely to get denied due to chex? Does it look bad on the report and affect future applications?

MoreSun
MoreSun

All it does is show a hit on your Chex. If you’re after an account at a bank that is particularly sensitive to Chex then yes, a hit but no account to show for it would be harmful. Personally I don’t waste my time or take Chex hits on accounts I suspect I won’t get- like this one as my Chex is LOL status these days.

Fwiw… after you’ve churned bank accounts for a few months you come to realize if you try to keep a clean Chex you leave $$$$ on the table, the math is definitely not worth it imho.

Kyle ❤️

Cool, well at the rate I’m going (coming up on the end of my first year, I just happened to start mid December last year) I think ultimately the only thing it would hurt would be my chances at chex sensitive accounts which I am already likely to be denied anyways. I did manage to get approved for two chex sensitive accounts with 10+ accounts in the last year so I figure it’s still worth a shot. Thanks 🙂

Dubya
Dubya

Yes. It’s an additional hit on your Chex for a bank you already know will not approve you. So if you have bank that might take you with 8 hits on Chex but not 9 at this puts your over then you screwed yourself for no reason

Kyle ❤️

Might make since if I were under 10 but if the bank is chex sensitive, I doubt they would have a cut off number that specific past 10. With being approved for two that I probably shouldn’t have been due to the chex, I will think I will continue to roll the dice on it.

gmoney
gmoney

Yes. They open the account and then close it due to chex systems. Happened to me with both P1 & P2.

AlarmingConsequence
AlarmingConsequence

MoreSun
>”HomeStreet Bank reserves the right toDEDUCT THE BONUS from the account at closing, if the account is closed by the customer or bank within 365 calendar days after account opening.”
Have you heard any reports of them clawing back the bonus? ETF is 180 days, but pay out is 240 days, so by the time the bonus posts, it is well past their own definition of “early”.

Bruno
Bruno

I read ETF applies to all accounts (with or without a bonus).

eb
eb

So in order to get and *keep* bonus funds are tied up for 1 year?

LarryBird
LarryBird

Denied based on Chex Sensitivity.
5 account in 12 months.

K.M.
K.M.

Hey thanks for your DP. I’m at 5 also so I think I’ll just pass on this.

CWTT
CWTT

Was denied. Opened 3 other accounts this year for reference

SpicyPadThai
SpicyPadThai

Denied; opened 5~10 accounts this year.

Kyle ❤️

Denied. Opened 15 accounts in the last year.

DB
DB

From denial DPs above, seems like they no longer approve people then close them few days later, so that’s good to know. I wish there are more DPs on ACH that fulfills the DD reqs though.

Freeway fighter
Freeway fighter

I was denied. Hubby got approved

Closertothesun
Closertothesun

What’s hubby’s chex look like?

Kapil Dev Tejwani
Kapil Dev Tejwani

I applied and instantly approved online- though my chex also should have atleast 5-6 accounts in last 12 months and they have requested a personal check to be sent to them for the initial deposit($100 minimum) let’s see how this goes.

Kyle ❤️

Congrats, glad someone made it through!

Jeff G
Jeff G

I hope it works out for you, they are great at approving and then closing later.

RandyC
RandyC

Any DPs on what counts as DD? They now specifically state that Paypal does not, even though old DPs say that it does.

Justin
Justin

Denied last year when I was just starting out and only had a few hits.

Lady
Lady

One more denial here in Oregon from Chex sensitivity. Opened 9 accounts in the last 12 months.

Boozi
Boozi

Bonus posts in 8 months after activities?!

Guy who buys stuff
Guy who buys stuff

Only 8 months until you get your bonus.

nickthepezant
nickthepezant

Also denied at application step.

These were the reasons listed for my denial:

Key factors that adversely affected your credit score (insert here the four key factors that adversely affected the credit score or if the number of recent inquiries is a key factor, insert five key factors including the number of recent inquiries):

CM NO EVIDENCE OF PROPERTY OWNERSHIP
CF TIME AT CURRENT ADDRESS
CP NO EVIDENCE OF ASSET OWNERSHIP
CI NON-DEROGATORY PUBLIC RECORD HISTORY
CE RECENT UNIQUE FI DDA INQUIRY HISTORY

Pizza
Pizza

Can you add an entry for this bank to the Chex sensitive page? Most DPs seem to be here:
https://www.doctorofcredit.com/wa-ca-or-id-hi-homestreet-bank-300-checking-bonus/

ableom
ableom

opened approximately 6 accounts in the past 12 months and I was approved.

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