Posted by William Charles on March 10, 2020
Bank Account Bonuses

Published on March 10th, 2020 | by William Charles

39

[WA, Select Counties] Umpqua Bank $500 Checking Bonus

Offer at a glance

The Offer

Direct link to offer

  • Umpqua Bank is offering a bonus of $500 when you open a new attain checking account and complete the following requirements:
    • Receive at least $4,000 in direct deposits each month for three consecutive months following the date of account opening

The Fine Print

  • To receive your $500 bonus, you must receive at least $4000 in direct deposits during each month for the three consecutive months following the date of account opening.
  • The minimum $4000 monthly direct deposit may be made one time each month or in multiple direct deposits that total $4000 or more each month.
  • Your account must remain open for at least three full calendar months following the account opening (bonus eligibility period), and must not have a negative balance at the end of the bonus eligibility period.
  • Upon meeting the qualifying activity, the bonus will be credited to your account within two months following the end of qualification period.
  • Attain $500 Bonus is limited to one per new customer and one per joint account. Bonus cannot be combined with Home Loan Credit Offer.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $20 monthly fee that is waived if you do either of the following:

  • Have a  $15,000 minimum daily balance
  • Have $25,000 combined deposit and outstanding loan balance in eligible accounts

Early Account Termination Fee

I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

Previously we’ve seen an offer for $200, but that had no requirements or monthly fees to worry about. This is a much bigger offer, but it is difficult to keep the account fee free and to trigger the bonus. I still think this is very much worth doing if you can meet the requirements though and I’ll add this to our list of the best checking account bonuses.

Hat tip to reader EJJ

Useful posts regarding bank bonuses:



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Matthew
Matthew

This is only for limited counties. From your link:

To Be Eligible:
3) a physical address in King, Snohomish or Pierce County

Can this be opened outside of those 3 counties?

SpicyPadThai
SpicyPadThai

It says: 3) a physical address in King, Snohomish or Pierce County
Doesn’t this make WA only?

tribesman55
tribesman55

This is for 3 counties only, not all the states listed.

JJ
JJ

Hey, I just saw this posting before I attempted to create a checking account with them earlier today. I was trying to fund $2k with my United Business MileagePlus card but it failed as it was coded as a CASH ADVANCE and I set the limit to $1. I ended up not going through with the checking account but I might do it again with this new bonus.

Please let me know anyone else experience with credit card funding.

Chad
Chad

$500 for a poor Millennial like me is almost worth going to Washington to get the virus.

Tony G
Tony G

Oh yeah, so prolific. 164 people out of 7.5MM have had it.

Ben
Ben

Do you think everyone gets tested?
Do you think everyone who wants to get tested, gets tested?
Why don’t you educate yourself?
https://www.nytimes.com/2020/03/06/health/testing-coronavirus.html
You sound like a fool.

qmc
qmc

Looks like they’ve added:

$500 bonus is a limited time offer for residents of King, Snohomish and Pierce counties.

Kyle ❤️

When you hit the open online now button it says, “All applicants must be US citizens or resident aliens at least 18 years of age living in California, Washington, Oregon, Idaho, or Nevada.” However on the initial offer page it says, “$500 bonus is a limited time offer for residents of King, Snohomish and Pierce counties.”

Eligibility for the bonus is definitely questionable here.

SpicyPadThai
SpicyPadThai

Maybe residents in those listed states CAN make the checking account, but only those that live in the counties are eligible for the bonus?

Jun
Jun

UMPQUA is opened to anyone living in those states you mentioned but to qualify for the bonus, you must:

To Be Eligible:

1) Must be a new Umpqua Bank checking customer—not had an existing or prior consumer checking relationship in the last 6 months,

2) be age 18 or older, with

3) a physical address in King, Snohomish or Pierce County and

4) open a new Attain checking account

sdb4u99
sdb4u99

Hey DOC

Its really helpful if you also add a field indicating if the Bonus is eligible for non US citizens. This one is only for citizens.

A
A

Is it though ?
Note: All applicants must be US citizens or *resident aliens* at least 18 years of age living in California, Washington, Oregon, Idaho, or Nevada.
So I believe just non resident aliens are excluded.

sdb4u99
sdb4u99

$500 bonus is a limited time offer for residents of King, Snohomish and Pierce counties.

Shirley
Shirley

Just called them to see what I could find out. The local branch in California didn’t know anything about the promotion.

Called the main office and got transferred to their digital online account opening person and he too hadn’t heard of the promotion. I gave him the website and he pulled it up and said what most of us thought, it’s only for residents in those counties in Washington state.

He further stated that when you click on the Open Online Now button that takes you to their general account opening page, it doesn’t mean you’re eligible for the bonus but you can open an account without the bonus.

Given that it was the first he heard of it, his interpretation may not be correct but I wouldn’t risk trying for the bonus if you don’t live in one of those counties, at least not until there is further clarification from someone.

Leslie
Leslie

Shirley you can’t be serious!

boozi
boozi

Anyone living in those counties willing to take $100 card for me to get this bonus?

Adam B
Adam B

if one not to park $15K with them, we are talking about up to 5 months of monthly fee which will net $400 in bonus, still not bad

Justin
Justin

Plus 2K in CC funding adds to your total

kurph
kurph

Wondering if your cc funding went thru? and if yes, which card? TIA!

GoodGame
GoodGame

I used BOA Premium to fund 2k, went through as purchase.

Leo
Leo

Any idea which methods count as direct deposit for this bank?

qmc
qmc

The link in the post next to the DD requirements have an idea ….

Ben
Ben

There are no data points for Umpqua Bank, did you even try the link?

Leo
Leo

Unfortunately no data points at all for this bank.

minji
minji

If I open an account today, am I required to direct deposit 4k for March?

A
A

Any datapoints on what counts as DD would be helpful.

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