[Expired] [CA, IL, NJ, NY, TX, VA, In Branch] Hanmi Bank $300 Checking Bonus, Direct Deposit Not Required

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

Offer at a glance

• Maximum bonus amount: $300
• Availability: CA, IL, NJ, NY, TX, VA, In Branch
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, not sensitive
• Credit card funding: Unknown
• Monthly fees: $6-$7
• Early account termination fee: Six months, bonus forfeit
• Household limit: None listed
• Expiration date: July 31, 2022

The Offer

Direct link to offer

• Hanmi Bank is offering a $300 bonus when you open a new Personal Regular Checking and complete the following requirements:
  • Maintain 3 month average balance of $20,000 or above
  • Enroll in e-Statement
  • Conduct minimum of one (1) ACH debit/credit or fiver (5) POS debit card purchase

The Fine Print

• Promotion offer is valid for a new Personal Regular Checking account opened from April 25, 2022 to July 31, 2022. Only one (1) account is allowed per customer.
• To qualify for the offer, you must be a new checking customer, must open a qualifying personal regular checking account with new money. A new checking customer is defined as a customer who has not had any existing personal checking account with Hanmi Bank within the past 180 days from the date of the account opening.
• New money is defined as funds that are not held at Hanmi Bank.
• You must also enroll in e-Statement within 30 days after account opening, must conduct minimum of one (1) ACH debit/credit or five (5) POS debit card purchase during each of the first three (3) months, and must maintain a 3-month average balance of $20,000 or more for the first three (3) months.
• The cash bonus is determined based on a 3-month average daily balance on the account opened for the first full 3-months. Starting date for the 3-month period will be the first date of the new month after the account is opened; if the account is opened on the first day of a new month, that date will be the first date of the average balance calculation period.
• Cash bonus will be paid to your new checking account within 60 days after a qualifying account has been opened for six (6) months.
• You must provide a valid U.S. Taxpayer Identification Number (W-9) or a valid foreign taxpayer identification number (W-8BEN) as applicable.
• Cash bonus will be considered interest and will be reported on a 1099-INT or 1042-S, as applicable.
• You are responsible for any applicable taxes and consulting a tax advisor. Please see account disclosure for further details. The checking account disclosure can be obtained from Hanmi Bank branches.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Regular checking account has a $7 fee, this is waived with a minimum balance of at least $500

Early Account Termination Fee

Account must be kept open for six months to get the bonus.

Our Verdict

This is really a savings bonus as it requires a $20,000 deposit for three months. This works out to be an annualized return of 6%, not bad compared to basic savings account rates but similar to rewards checking accounts.

Hat tip to ShawntheShawn

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