OneWest Bank Bonus, Get Up to $300

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OneWest Bank Bonus, Get Up to $300 with No Direct Deposit Requirement

OneWest Bank, a division of CIT Bank, is offering a bonus of up to $300 for new accounts. The bonus you get depends on which account you open. Direct deposit is not required, but you need to deposit $10K to get the maximum bonus. Offer is available in CA only.

Offer

To get the bonus, between between January 4, 2021 and December 31, 2021, open one of the following accounts:

$150 Bonus: Personal Checking Account with a minimum deposit of $500 in new money and maintain an average balance of at least $500 during the first 90 days following account funding; or
$250 Bonus: Premium Checking Account with a minimum deposit of $2,500 in new money and maintain an average balance of at least $2,500 during the first 90 days following account funding; or
$300 Bonus: OneAccount Checking Account with a minimum deposit of $10,000 in new money and maintain an average balance of at least $10,000, during the first 90 days following account funding.

Then, do any three of the following activities for the new account within the first 90 days following account funding:

set up and receive recurring ACH or direct deposits to the new Checking Account totaling $650 or more per month for at least two consecutive months
register for eStatements (first time registration only)
make ten or more OneWest debit card purchases with $10 minimum per transaction
deposit or withdraw six or more times using OneWest Bank ATM
complete two or more monthly bill payment transactions (using OneWest Bank’s online Bill Pay service) from your OneWest Checking Account
make two or more mobile check deposits with $100 minimum per deposit

Bonus will be paid as a statement credit to the Checking Account within 60 days after the above requirements are met.

Eligibility

Offer available in CA only.
Primary signer on the new checking account may not be or have been a primary or secondary signer on any personal checking account within the previous six months.

Fees

Personal Checking has a $5 monthly fee waived with the following options:
- Maintain a $1,000 average monthly balance, OR You elect to receive eStatements, OR
- If you are at least 55 years of age, OR
- One of the account holders is less than 18 years of age
Premium Checking has a $10 monthly fee waived with:
- $1,000 average monthly balance.
OneAccount Checking has a $25 monthly fee waived with:
- $10,000 average monthly balance.
Checking Account must remain open to receive the bonus and in good standing for at least six months after account opening. If Checking Account is closed by the customer or OneWest Bank within six months after opening, the value of the bonus may be deducted from account at closing.

Guru’s Wrap-Up

The $250 offer looks like the best option since it requires only $2.5K instead of $10K to get the bonus, and also just $1K to waive the monthly fees. You don’t need a direct deposit to get the bonus since you can choose 3 out of the activities listed above. Seems like an easy bonus and definitely worth doing if you are in CA. Let me know if you have any 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.