[Expired] Bank Of The West $150 Business Checking Bonus [In Branch only, AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY]

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Offer at a glance

• Maximum bonus amount: $150
• Availability: AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY In branch only [Branch locator, click locations in the top left]
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Yes (inquiry sensitive)
• Credit card funding: $500 max, Visa/MC only
• Monthly fees: $10, avoidable
• Early account termination fee: None
• Household limit: None listed
• Expiration date: September 30, 2020

The Offer

Direct link to offer

• Bank of the West is offering a bonus of up to $150 when you open a new Any Deposit Business checking account. You’ll receive a $25 bonus when you open the account and make any deposit within the same calendar month in which the account was opened.  You then receive a $25 monthly bonus each month you make any deposit (if you miss any months then the bonus ends completely and can’t earn anything for future months either)

The Fine Print

• Any Deposit Checking for Business Up to $150 Bonus Offer: Requirements to receive initial $25 bonus. Open a new Any Deposit Checking for Business account ($100 minimum opening deposit required) between September 1, 2020 and September ​30, 2020 and make any deposit within the same calendar month in which the account was opened.
• $25 bonus will be credited to the account by the end of the month immediately following the calendar month in which the account was opened.
• If customer does not make the first deposit in the same calendar month in which the account was opened, the customer will not be eligible for the initial $25 bonus or any of the additional $25 bonuses.
• Requirements to receive up to five (5) additional $25 bonuses: Make any qualifying deposit into the Any Deposit Checking for Business account in each of the five (5) consecutive calendar months immediately following the month of account opening. For each of the five (5) consecutive months that a deposit is made, a $25 bonus will be credited to the account by the end of the month immediately following the calendar month that the deposit was made.
• NOTE: Bonuses earned from qualifying deposits made in November will be paid out in January.
• If a deposit is not made in any one of the subsequent five (5) calendar months following the month in which the account was opened, the customer will not be eligible for the $25 for the month that the deposit was missed AND they will not be eligible for any additional $25 monthly bonuses after that missed month.
• Offer not available to existing Bank of the West customers with an open business checking account as of August 31, 2020.
• If the customer received or may receive any other business checking bonus from Bank of the West between September 28, 2018 and September 30, 2020, then the customer is not eligible for this bonus offer.
• Limit one (1) business checking bonus per customer.
• Account must be in open status with a balance greater than $0 at the end of each calendar month of the six-month period to qualify for any bonuses.
• Offer dates, terms, and conditions subject to change without notice.
• Bank will classify bonus as interest paid to the checking account.
• Any applicable taxes associated with this offer are the responsibility of the account holder.
• To the extent required by law, Bank will report value of each monthly bonus to the IRS on form 1099 for the applicable year in which the bonus was paid.
• All accounts are subject to Bank’s standard terms and conditions and Schedule of Fees and Charges.
• Maximum of six (6) $25 bonuses for a maximum total bonus of $150.
• Qualifying deposit for receiving bonus may be for any amount and includes direct deposit, mobile deposit, ATM deposit, or in-branch deposit (but does not include fund transfers between Bank of the West accounts or any credit from Bank of the West)
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The $10 monthly fee is waived as long as you make any deposit within that calendar month (also required for the bonus).

Early Account Termination Fee

I’m not sure if there is any early account termination fee or not

Our Verdict

Previously they had a bonus of $300 with requirements that weren’t much more difficult to meet the requirements for. Because of that it might make sense to just wait for a bigger offer return and we won’t be adding this to our list of the best bank account bonuses.

Hat tip to reader Heather

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times