[Expired][Select States Only] Bank Of The West Up To $300 In Checking Account Sign Up Bonuses

Expired: This deal has now expired, you can view the best checking bonuses that are valid by clicking here.

Offer at a glance

• Maximum bonus amount: $300
• Availability: AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY
• Direct deposit required: Yes, $250+
• Additional requirements: Optional, 10 or more debit card transactions for an additional $50
• Hard/soft pull: Soft
• Credit card funding: Not allowed
• Monthly fees: Yes, waivable
• Early account termination fee: $25, 91 days
• Expiration date: March 6th, 2015

The Offer

Direct link to offer

• Open a student checking account and receive a $25 bonus ($20 minimum opening)
  • Use your debit card at least 10 times in each of the first two months following account opening
• Open an easy, signature checking, choice interest or 55 Plus checking account with Bank of the West and receive a $150 bonus ($200 minimum opening)
  • Receive $100: Enroll in direct deposits and receive a direct deposit of $250 or more (must be a single direct deposit of $250+, two direct deposits which combine to $250+ will not work)
  • Receive $50: Request & use your debit card ten times in each of the first two months
• Open a premier checking account with Bank of the West and receive a $300 bonus ($500 minimum opening)
  • Must maintain a combined balance of $25,000

The Fine Print

• Valid until March 6th, 2015
• Debit card purchases must be $3 or more
• Bonuses will be credited by June 30th, 2015
• Eligible direct deposits are payroll, Social Security, pension or other government benefits
• Offer is not available to existing Bank of the West customers with an open checking account as of 01/23/15
• Opening funds must post to the account by September 5th, 2014
• Can only receive one bonus per household
• Accounts must have a positive bonus and be opened as of November 28th, 2014 to receive the bonus
• Early account termination fee of $91 if closed within 91 days of account opening
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is an early account termination fee of $25 if your account is closed within 91 days of account opening. All of these accounts have a monthly fee (apart from Student checking which is fee free) which can be waived and which is as follows:

Easy Checking Account $10 Monthly

Waived when you do any of the following:

• Maintain an average monthly balance of $1,000 or more each statement cycle
• Receive at least one direct deposit of $250 or more each statement cycle
• Use your bank of the west debit card for 10 or more purchases

Choice Checking Account $10 Monthly

Waived when you do any of the following:

• Maintain an average monthly balance of $2,500 or more OR
• Maintain a combined average monthly balance of $5,000 or more in linked savings and money market accounts, CDs and/or IRAs

55 Plus Checking $10 Monthly

This monthly fee is waived if the primary account owner is 55 years of age or older

Signature Checking Account $30 Monthly

Waived when you do any of the following:

• Maintain an average monthly balance of $15,000 or more each statement cycle
• Maintain a combined average monthly daily balance of $25,000 or more in linked savings and money market accounts, CDs and/or IRAs each statement cycle

Premier Checking Account $30 Monthly

Waived when you do the following:

• Maintain at least $75,000 combined average monthly balance4 in this Bank of the West Premier Checking account plus other eligible personal Bank checking, money market, savings, CDs, and IRAs, and prior end-of-month account balances in eligible BancWest Investment Services5 investment accounts

Our Verdict

Let’s have a look at the highest sign up bonus to begin with. Their highest savings account earns at a rate of 0.2%, for comparisons sake we will say the market leader offers a rate of 1%. You need to have the account open at the time of the bonus posting (December 31st, 2014) and have to have it open for a minimum of 91 days, your best bet would be to open the account on the last day of this promotion which means it would need to be open for a total of 124 days.

If you kept $75,000 in the account (which is necessary to keep it fee free) you’d be forgoing $203.83 in interest. As such the $300 deal is not worth completing. Your best bet would be to open an easy checking account or 55 plus checking if you’re over 55 years of age. Here is how I’d complete this offer:

• Open an easy checking account with $1,000, this is enough to keep the account fee free
• Receive a direct deposit of $250+, using my employers payroll. For those who have difficulties changing this, one of these work arounds should work.
• Use my debit card ten times, making sure I make purchases of at least $3. Usually I just purchase Amazon gift cards, but because of the $3 requirement I’ll just use it at the self check out at a grocery store.
• Use my debit card ten times the following month
• Wait for my bonus to post
• Wait 91 days to avoid any early account termination fee
• Withdraw my funds to my usual bank account
• Close my bank of the west account

I’m not sure if I’ll do this bonus yet, I’ve already done quite a few bonuses this year and $150 is on the lower side. I think I’ll sit this one out for now, if other higher bonuses haven’t come out nearer to it’s expiry I might complete it. We’ve added it to our complete list of bank account bonuses. It didn’t make our best of page due to the fact it’s only open to select states.

Direct link to offer | Screenshot of offer