[Expired] [Eastern WA only] HomeStreet Bank $300 In Branch Bonus

Bonus has expired, view the best current checking bonuses here.

Offer at a glance

• Maximum bonus amount: $300
• Availability: Kennewick, Dayton, Yakima, Selah, Sunnyside, and Richland branches. All in WA
• Direct deposit required: Yes, $500+
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: 180 days, bonus forfeit
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer

• HomeStreet Bank is offering a $300 checking bonus when you open a new Choice, Select, SelectPlus or Premium Select Checking account at one of the following branches: Kennewick, Dayton, Yakima, Selah, Sunnyside, and Richland and complete the following requirements:
  • Make $500 or more in qualifying direct deposits each month for the first five months
  • Make at least 7 debit card transactions each month for the first five full calendar months. Minimum of $5 per transactions
  • Enroll in online banking, mobile bank and eStatements  within 30 days of account opening

The Fine Print

• You must open a new Choice, Select, SelectPlus or Premium Select Checking account with a $100 minimum opening deposit.
• You must make $500 or more in total qualifying Direct Deposits to this account each month, each of which must post to this account by the last business day of the month.
• Qualifying direct deposits totaling $500 or more must be deposited into your new account in each of the first five full calendar months immediately following the month in which your new account was opened.
• A qualifying direct deposit includes an electronic deposit from your employer, or from the Social Security Administration, or from a retirement benefits administrator or from any other federal or state government agency
• However, federal income tax refunds, or any state income tax refunds, are not considered qualifying direct deposits. Person-to-Person and bank transfers between your HomeStreet Bank accounts or accounts you have at other financial institutions or brokerages also do not qualify.
• You must use your HomeStreet Bank debit card to make seven or more debit card purchases each month, all of which must post to this account by the last business day of the month for each of the first five full calendar months immediately following the month in which your new account was opened. Each purchase must be $5 or more. ATM transactions are excluded.
• You must enroll in Online Banking and sign up for eStatements within 30 days of account opening. 5. You must sign up for Mobile Banking within 30 days of account opening.
• This account must remain open for at least 180 days. The Bonus will be deposited into your new account within 90 days after completing all six of the requirements stated above. Your new account must remain open at least 180 days prior to receiving any Bonus.
• Your new account must remain open until the Bonus is processed in order to receive the Bonus.
• The Bonus is considered a deposit of 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.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

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. You also need to keep the account open for 180 days to avoid having the bonus clawed back.

Our Verdict

I think this is the biggest bonus they have offered, normally it’s for $100 or $200. The requirements are stricter than usual (e.g requiring the direct deposit for five months) but it is a large bonus. Worth doing if you live near a branch and can easily change your direct deposit, otherwise it might not be worth the risk of an ACH not counting as a direct deposit. I will add this to our list of the checking accounts with the best sign up bonuses.

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