From now until the 27th of April, Bank of the West is offering a checking account bonus of up to $125 for new account holders plus a $25 donation for supplies to local schools. The deal is tempting and similar to other Bank of the West promotions we’ve covered in the past, but is really only rewarding to individuals that can avoid the monthly fees (see fee structure below).
Breakdown of Bonus:
1) $50 for opening with direct deposit of at least $250.
2) $25 after making first 10 point of sale transactions with you debit card
3) $25 after enrolling to receive paperless statements.
4) $25 for opening and using a new Bank of the West credit card.
Depending on your individual needs you may want to stick with the first 3 bonuses (totaling $100) and forget about the $25 cash incentive for the new credit card. There are a number of credit card bonuses currently that are providing much more lucrative sign-up bonuses than this $25 one.
There are two types of checking accounts that can be opened with the bonus offer – “Easy Checking” or “Choice Interest Checking.”
The Easy Checking account comes with an $8 monthly fee unless you:
- Maintain $1,000 average monthly balance in this account OR
- Have a single direct deposit of $250 or more per statement cycle OR
- Make 10 or more debit card purchases (PIN or signature)
The fee also gets bumped to $10 if you decide not to go paperless.
The Choice Interest Checking account comes with an $10 monthly fee unless you:
- Maintain $2,500 average monthly balance in this account OR
- Maintain $5,000 average monthly balance in this account plus linked personal savings, CDs or IRAs.
Bank of the West opens it’s doors to residents of the following states: Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming.
Compare this offer to the most noteworthy checking bonuses of 2012.