[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

Useful posts regarding bank bonuses:
    William Charles
  • On July 30, 2022, 11:00
Tags: az bank bonusesca bank bonusescredit card fundingdirect deposit required

View Comments (32)

    • Just submitted the application, went pending. The bonus term is listed as below:

      'To qualify for stated REWARDS in each current month, members must have met the following criteria in the immediate previous month: 1) At least 10 posted and cleared debit card transactions per month OR at least $500.00 in total posted and cleared debit card transactions per month (PIN or signature-based, not including ATM transactions); 2) Establish direct deposit ($1,000 total minimum per month); 3) E Documents enrollment (receive monthly e-statements and account notices electronically)', and

      'To qualify for the Bonus, you must: (1) be a new Credit Union member or an existing member with no existing checking accounts, (2) open a new Smart Rewards Checking Account, and (3) meet the above monthly criteria** each month for at least three (3) consecutive months within the first six (6) months from account opening. '

      I'll provide more updates if got approved.

        • I frequently use the 'Most recent comments' function. BTW, just received reject email from them with the reason 'Ineligible for membership".

          Actually I do have the FFA membership (got it from Keypoint CU), however they required FFA (CA and AZ only). Thus this is still not a nationwide bonus offer. Need more DPs.

          • I've been reading this site for years and had no idea there was a "Most recent comments" function. Thanks :) Also, appreciate you being the guinea pig for the FFA option. I was going to try that route myself.

  • Here are my data points for this account:

    * 8/30 - checking and savings account opened, funded with Citi Double Cash
    * 9/9 - $500 real DD posted to the checking account
    * 9/23 - $500 real DD posted to the checking account
    * 10/12 - received $100 bonus (Dep DV Checking 100 Bonus)
    * 11/1 - received $200 bonus (Dep DV MERIT GOLD $200 BONUS)
    * 11/9 - closed account

    I called Meriwest Credit Union (1-877-637-4937) this morning to request to close my account. Rep instructed me to sign into my account and send a secure message to request the account closure. Now I need to wait for the message to be received and processed. Pretty easy process.

  • Just received the $200 bonus for reaching Merit Gold. Does anyone know if there is an early termination fee? There's conflicting information in the DoC post above. Any issues with stopping the DD and withdrawing funds from the account?

  • 7/30: Opened checking account + savings account
    August: Pushed $5k from Ally Bank to checking account
    September: Pushed $1001 from Ally Bank to checking account
    9/1: $100 bonus posted
    10/25: $200 bonus posted

  • $200 portion of $300 bonus paid out this morning. Used 2 real DDs - in Sept and Oct. Hit $5k plus balance about a week or so after account opening in late Aug, due to setting up trial deposits. $300/300 posted now, so pretty straight forward.

  • Just got paid out the $100 part of the bonus, opened in early August and did an early in the month $1k DD Aug/Sept/ and a third one in Oct just in case. Now see if the $200 one pays out, opened 2 savings accounts and have kept $5k in there. Funded the $5k within the week I opened since I could not find a way to do it at account opening.

    • Also got second part of bonus $200 on 11/1/22. Did real DD Aug/Sept/Oct to be safe and keep the $5k split between checking and 2 different savings accounts

  • How does the "5,000 average daily balance" work? For Merit Gold. Does that start the MOMENT you open the account, or starting the second month? The customer service representative could not help me whatsoever.

  • Has anyone tested Direct Deposits via ACH push from other bank accounts & received the bonus? I wonder if it works because right now I don't have a real DD to qualify.. Thanks in advance!

        • There is no way to meet another requirement for opening just one week, that is
          $5,000 average daily balance in total deposits and loans
          I'll know after 2 statement cycles.

          • @guest_1423208 I can't understand what you wrote right above, but I guess what I'm really trying to find out is if the SoFi push (I assume it's just a regular ACH transfer) registers as a proper/"real" direct deposit or not. So I guess we'll have to wait and see. The reason I ask this is because for many banks it does not work..

      • @guest_1423208 What do you mean by "check mark"? Did you receive the bonus? That'd be great news! :-) Thanks!

        • I have not received the debit card yet so no bonus.
          Check mark means the requirement met

          Below is from website for Smart Rewards Checking requirements,
          Debit Card Transactions (10) or Debit Card Purchases ($500)
          Receiving eStatements
          Have Direct Deposit ($1,000 total monthly minimum)

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