Homestreet Bank Bonus – Get $250 with New Account
Homestreet Bank has a new bonus of $250 for those who open a new checking account. The offer is limited to a few states, WA, CA, OR, ID, HI. It also requires a deposit of $5,000. This Homestreet Bank Bonus is available until September 30, 2019.
Requirements to receive $250 checking account bonus:
- Open a new Premium Select Checking account in branch or online between September 1, 2019 and September 30, 2019.
- 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.
- 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 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.
- Premium Select Checking comes with a $10 monthly maintenance fee that is waived when you keep a $2,500 minimum daily balance
- 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.
This bonus has been $300 in the past, but it is still a decent amount of cash even at $250. However there’s some issues with it. First the bank is Chex sensitive, so if you’ve had too many new bank account recently, they could close your account even after approving you. Then the bonus takes 240 calendar days to post and you still need to keep the account open for 365 calendar days in order to keep the bonus. Those reasons will probably turn most people away, as you also need to keep $2,500 in the account to avoid a $10 fee.
- Promo Page
- Bonus: $250
- Account Type: Premium Select Checking
- Availability: WA, CA, OR, ID, HI
- Expiration Date: 9/30/19
- Inquiry Type: Soft pull
- Credit Card Funding: Unknown
- Direct Deposit Requirement: Yes, $5,000.00 or more within the first 90 calendar days
- Monthly Fee: $10 (waived with $2,500 balance)
- Closing Account Fee: Bonus forfeited if closed within 365 days