Offer at a glance
- Maximum bonus amount: $200
- Availability: HI
- Deposit required: $7,500 for five months
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: 180 days, $70
- Household limit: $70, 180 days
- Expiration date:
Contents
The Offer
- Bank of Hawaii is offering a $200 bonus when you open a new savings account and deposit $7,500 and maintain that for 5 months
The Fine Print
- To qualify for the bonus, make your $7,500 in New Money deposit(s) directly to the new Account in the form of a personal or official check from another financial institution, an incoming wire, ACH credit, Online Banking external transfer, or external funding of a new Account opened through boh.com within 30 days of account opening.
- You will be required to maintain a Daily Account Balance of at least $7,500 every day from Day 31 through Day 150 after Account opening (“Maintenance Period”) to qualify for the bonus.
- If your Daily Account Balance falls below the required $7,500 minimum for even one (1) business day during the Maintenance Period, you will not receive the bonus.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
These accounts has no monthly fees.
Early Account Termination Fee
Unsure if there is any EATF or not.
Our Verdict
These accounts earn 0.01% APY so basically nothing. This bonus works out to be an additional 6.4% APY annualized, so not really worth doing compared to other basic high yield accounts in my opinion.
Hat tip to 767
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
