[Expired] [WA, CA, OR, ID, HI & In Branch] HomeStreet Bank $250 Checking Bonus

Deal is no longer being offered, you can view more checking bonuses by clicking here

Offer at a glance

• Maximum bonus amount: $250
• Availability: Branches are in WA, CA, OR, ID, HI. Account must be opened in branch [Branch locator]
• Direct deposit required: Yes, $5,000+ within the first 90 days
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Yes, sensitive
• Credit card funding: None
• Monthly fees: $10, waivable
• Early account termination fee:
• Household limit:
• Expiration date: September 30th, 2019

The Offer

Direct link to offer

• Homestreet bank is offering a bonus of $250 when you open a new premium checking account in branch and complete the following requirements:
  • Open with at least $100
  • Receive qualifying direct deposits that total $5,000 or more within the first 90 days

The Fine Print

• Requirements to receive $250 checking account bonus:
  • 1. Open a new Premium Select Checking account in branch or online between September 1, 2019 and September 30, 2019.
  • 2. Receive qualifying direct deposits that total $5,000.00 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.
  • 3. 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. 
• For further account terms and conditions about HomeStreet Bank’s personal checking accounts, please refer to the Terms and Conditions for Personal Accounts. All accounts are subject to approval. 
• Offer expires September 30, 2019.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

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

Early Account Termination Fee

Account needs to remain open for 365 days as they reserve the right to deduct the bonus if closed before then

Our Verdict

Keep in mind that they are extremely ChexSystems sensitive, so I suspect most readers won’t be eligible. They have offered the same bonus before, but last time it was offered it was for $300 and the time before that it was $300 and could be opened online so I guess they are making the bonus progressively worse. I’ll add this to the best checking bonus because the offers have been getting worse over time and I’m not confident that we will see a better bonus in the short term.

Hat tip to BeneficialPhotograph

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times