Bank of Hope, Get $500 Bonus with $20K Deposit (Select States)

June 29, 2021

Bank of Hope Bonus

Bank of Hope is offering a $500 bonus for new checking accounts. There’s no direct deposit required, but you need to deposit and maintain a balance of at least $20,000 for the first 4 months. This Bank of Hope bonus is only available in AL, CA, IL, NJ, NY, TX, VA, WA and you need to go to a branch to open the account. Let’s see the details of this offer.

Offer

To get this $500 bonus, you must:

Open a new checking account in-person at a Bank of Hope branch and enroll to participate in the Cash Bonus Offer at the time of account opening or within 30 days of account opening.
Maintain an average balance of at least $20,000 for the first 4 months of account opening
Complete the following three activities within 90 days of account opening
- Request a debit card and make at least one debit card purchase or ATM deposit/withdrawal
- Register for Personal Online Banking or Business Online Banking
- Enroll in e-Statements

Eligible Account must remain open, and in good standing from the account opening date of your Eligible Account until the Cash Bonus is paid. The Cash Bonus will be paid to your Eligible Account within six (6) months from the account opening date. Eligible Account must remain open, and in good standing from the account opening date of your Eligible Account until the Cash Bonus is paid. The Cash Bonus will be paid to your Eligible Account within six (6) months from the account opening date.

Eligibility

This offer is available in AL, CA, IL, NJ, NY, TX, VA, WA (find a branch).
Offer is not available for new or existing customers who do not currently have a Bank of Hope personal or business checking account. Customer who currently has an existing personal or business checking account(s) is not eligible.
Limit one Cash Bonus per account.

Fees

Basic Checking has a $3 monthly fee that is waived if 5 or more ATM/Debit card or ACH transactions are made per statement period.

Regular Checking has a $7 monthly fee that is waived if a minimum daily balance of $500, or average daily balance of $1,000 during each statement is maintained.

Bank of Hope Bonus: Guru’s Wrap-Up

A great bonus for those in eligible states,, but I don’t know if it is a hard pull or not. For $500 though it might still be worth it either way. To get the bonus you need to deposit $20K in the account and keep it there for 4 months. The easiest accounts to keep fee-free are the Basic Checking and Regular Checking that come with a $3 and $7 monthly fee respectively. Keep in mind that the account must be open for at least 6 months, until you receive the bonus. I didn’t see any early closing fees mentioned in the terms.

Let me know if you have an experience with this bank.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.