[Expired] [CA & AZ] Meriwest Credit Union $400 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $400
• Availability: Must live, work, worship or attend school in one of the following counties: CA: Santa Clara, Alameda, Contra Costa, San Mateo, San Francisco AZ: Pima
• Direct deposit required: Yes, recurring direct deposits of $1,000
• Additional requirements: See below
• Hard/soft pull: Mixed DP, make sure to opt out of overdraft
• ChexSystems: Unknown
• Credit card funding: Up to $500
• Monthly fees: None
• Early account termination fee: Six months bonus forfeit
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Meriwest is offering a checking bonus of up to $400 when you open a new checking account. Bonus is broken down as follows:
  • $100 when you open account with a direct deposit of at least $1,000 per month within two months of account opening
  • Earn $200 more if you reach Merit Gold in the first 3 months or
    • Maintain a checking account with aggregate direct deposit of at least $1,000 per month (must be consecutive for at least two (2) months)
    • one qualifying product (see bel0w)
    • $5,000 average daily balance in total deposits and loans (excluding Meriwest mortgages).
  • Earn $300 more if you reach Merit Platinum3 in the first 3 months
    • Maintain a checking account with aggregate direct deposit of at least $1,000 per month (must be consecutive for at least two (2) months)
    • three qualifying products (see below)
    • a $10,000 average daily balance in total deposits and loans (excluding Meriwest mortgages)  OR Maintain a combined daily average balance of at least $250,000 in total deposits with Meriwest Credit Union and/or assets under management with Meriwest Wealth Advisors.
• Qualifying Products: Share Certificate Accounts; Share Savings Accounts; Money Market Accounts; Auto Loans; Unsecured Lines of Credit with a Balance; Personal/Money Manager and Other Unsecured Loans; Share and Other Secured Loans; Closed-End Equity Loans; Home Equity Lines of Credit with a Balance; Current Meriwest Credit Cards with Monthly Activity; Meriwest Mortgage Loans (Counts as 2 Products); Meriwest Wealth Advisor Accounts (Counts as 2 Products)

The Fine Print

• Promotional offer starts on July 1, 2022 and is subject to expire at any time.
• Must be over the age of 18, open a checking account with a direct deposit of at least $1,000 per month within two months of account opening to receive the $100 New Account Bonus.
• Only new members and existing MeritCLASSIC members (as of 07/01/2022) without checking accounts qualify.
• Existing MeritPLUS, MeritGOLD and MeritPLATINUM members are not eligible for this offer. All Meriwest consumer checking accounts, except FLOW, qualify for this offer. Bonus is subject to tax reporting. The minimum deposit required to open a checking account is $20. Limit one bonus payment per member. New members and existing members without checking accounts qualify. Existing members with a checking account do not qualify for this offer. Bonus will be credited on the first business day of the month after qualifying direct deposit is received into the checking account.
• Qualifying members earn a $200 Level-Up Bonus if you meet our MeritGOLD requirements at the end of your third month of checking account opening: Maintain a checking account with aggregate direct deposit of at least $1,000 per month (must be consecutive for at least two (2) months), one qualifying product4 , and a $5,000 average daily balance in total deposits and loans (excluding Meriwest mortgages). Limit one bonus payment per member.
• Qualifying members earn a $300 Level-Up Bonus if you meet our MeritPLATINUM requirements at the end of your third month of membership: Maintain a checking account with aggregate direct deposit of at least $1,000 per month (must be consecutive for at least two (2) months), three qualifying products4 , and a $10,000 average daily balance in total deposits and loans (excluding Meriwest mortgages) – OR – Maintain a combined daily average balance of at least $250,000 in total deposits with Meriwest Credit Union and/or assets under management with Meriwest Wealth Advisors. Limit one bonus payment per member. Merit Rewards Level is evaluated every month, based on the prior month. Bonus will be credited on the first business day after the end of the third month based on your Merit Rewards Level
• 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 no monthly fees to worry about

Early Account Termination Fee

I’m unsure if there is any early account termination fee.

Our Verdict

Looks like it will be difficult to meet the requirements for the $400 bonus due to the 3 qualifying products required. The $300 bonus has similar requirements to the last $300 bonus that was offered and should be worth doing. They also have a reversed savings account that might be worth considering.

Hat tip to 01d-monk

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