Offer at a glance
- Maximum bonus amount:Â $500
- Availability:Â CA, IL, NJ, NY, TX, VA
- Direct deposit required:Â Yes, bonus scales on direct deposit
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems: Unknown, not sensitive
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â Six months, bonus forfeit
- Household limit:Â None listed
- Expiration date:Â December 31, 2023
Contents
The Offer
- Hanmi Bank is offering a direct deposit bonus for new & existing customers
- Make at least one direct deposit by September 30, 2024, and maintain monthly average balance of $3,000 or more during the full calendar month to earn 1 uChoose Rewards® point for every $1 made in direct deposit. You can earn a maximum of 5,000 points each month
- We’ll match the reward points earned for the first three full months
The Fine Print
- This offer is valid from 6/3/2024 to 12/31/2024, and is subject to change and may be discontinued at any time without notice.
- Offer is valid to current and new personal checking customers enrolled in uChoose Rewards®. First direct deposit must be made on or before 9/30/2024, and must maintain monthly average balance of $3,000 or more during the full calendar month on the account, to qualify.
- Existing customers already receiving direct deposit will be eligible to earn reward points if they maintain monthly average balance of $3,000 or more during the full calendar month.
- Monthly average balance is calculated by aggregating the balance in the account for each day of the month and dividing the aggregated balance by the number of days in that month, or the number of days account was open during that month if account was opened mid-month.
- Only one (1) eligible account per customer (SSN/TIN).
- Points will be credited to customer’s uChoose account 21 days after the end of each month. uChoose Rewards® points earned are forfeited if customer is not enrolled in uChoose on day of payout.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Simple checking account has no monthly fees to worry about.
Early Account Termination Fee
Need to keep account open until at least December 31, 2024 to maximize the bonus.
Our Verdict
Points are worth 1¢ each so this bonus should be worth $350-$500 (or less if you don’t max out the $50 each month). This obviously requires a lot of direct deposits and a large amount each time as well unfortunately. Still worth doing for some people especially as it applies to existing account holders and many readers will have accounts from previous bonuses.
Hat tip to olympia_t
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
10k points received on 9/27 for the direct deposits in August.
So far this bank is very frustrating. They didn’t make it clear they wouldn’t send out the debit card without a special request through an obscure email. That was a month of lost rewards due to substantial delay in being able to enroll in uchoose.
so far DD from August shows no rewards of any kind. They make you keep a significant deposit in there. I will probably pursue small claims court if they do not start honoring this offer.
Filed complaint with FDIC who claims they sent me a letter but funny I never received anything.
Created an account and did the first direct deposit on June 28. There’s no points received until now.. Stay away from this bank
I did DD in July and didn’t get the points. I contacted UchooseReward online. let’s see what they say.
Hello
Did they get back to you?
yes. For the July DD, the points were deposited on 8/27.
I got the Kakao-themed debit card because it had the cute character, that was a mistake. Apparently that design card doesn’t support uChoose Rewards?? Smh wasted my July direct deposit
Call them, had a similar issue and they said I would still earn points. I have not yet earned points though so I am going to follow up. Today, I was able to register my card for rewards.
it is cute and they let me enroll with it just now
The terms are confusing. I had to read it 3x to get it. I think I will wait when the terms are better. Too many loopholes on this one.
H: Headache-inducing
A: Annoying
N: Nauseating
M: Mind-boggling
I: Irritating
better off waiting for the easier terms offer to come along again imo
You have “Maximum bonus amount: $250″. That is not correct. The maximum amount is $450 or $500 depending on when they signed up.
Fixed
I forgot my username and pwd for the uchoose rewards. I called the bank and was told to go to a local branch to reset. Anyone knows any other ways?
I called this number 855-559-6528 and a rep was able to help me. Don’t bother to email [email protected].
Terms are confusing:
“maintain monthly average balance of $3,000 or more during the full calendar month to earn 1 uChoose Rewards® point for every $1 made in direct deposit.”
Does that mean that $3,000 needs to be there for the full calendar month? If not, the terms should simply read:
“maintain a monthly average balance of $3,000 or more to earn 1 uChoose Rewards® point for every $1 made in direct deposit.”
To answer my own post; The terms on their website clarifies this:
“Monthly average balance is calculated by aggregating the balance in the account for each day of the month and dividing the aggregated balance by the number of days in that month, or the number of days account was open during that month if account was opened mid-month.
“
It’s odd to me that this banks own video lists WA state but they don’t allow people in WA state to create an account as they have no branch there. Video link: https://youtu.be/P-W3-7wW4TQ?t=26