Best New Bank Promotions in California: July 2021 Offers, Coupons and Bonuses
Banks regularly run promotions to attract new customers. They want your business and will pay you money when you choose to do your banking with them. You can make hundreds just by signing up for a new account and meeting a few additional requirements. And with the current state of the economy, the extra cash can be helpful.
These California bank promotions highlight some of the best offers available right now in the Golden State. They made the list because they are lucrative and have requirements within reach for many customers.
Checking Account Promotions
To take full advantage of these best checking account promotions in California, you have to meet certain deposit requirements. In most cases, you’ll need to receive direct deposits to qualify.
OneWest Bank Checking Account: Up To $300 Bonus
OneWest Bank, a division of CIT Bank, is offering a tiered checking promotion for three of its products: Personal Checking, Premium Checking and OneAccount Checking. Premium Checking and OneAccount Checking are interest-earning accounts, while Personal Checking is a more basic option that does not earn interest. All feature 24/7 access to online banking, a debit card with a tap-to-pay feature and unlimited check writing.
- Cash value: Up to $300
- Minimum deposit to qualify: $500-$10,000
- Expiration date: Dec. 31
- How to get it: Open a checking account in-branch with the requisite opening deposit ($500 for Personal Checking, with a bonus of $150; $2,000 for Premium Checking, with a bonus of $200; and $10,000 for OneAccount Checking, with a $300 bonus). Maintain the minimum deposit amount as your average balance for 90 days. Additionally, complete any three of the following qualifying activities:
- Set up and receive direct deposits of at least $650 per month for two months.
- Register for e-statements within 15 days of opening.
- Make eight or more debit purchases of at least $10.
- Deposit or withdraw money from a OneWest ATM six or more times.
- Complete two or more online bill payments.
- Make two or more mobile deposits of at least $100.
- When you’ll get it: Within 60 days of meeting the requirements
- Terms and conditions: The account must be funded with new-to-the-bank money, and any customer who received a bonus from the bank in the past 12 months is ineligible.
- Monthly fees:
- $5 for Personal Checking, waived by maintaining an average monthly balance of $1,000, by enrolling in e-statements, or if the account holder is 55 or older or under 18
- $10 for Premium Checking, waived with an average monthly balance of $1,000
- $25 for OneAccount Checking, waived if you maintain an average monthly balance of $10,000
- Promotion page: OneWest Bank checking account bonus offer
Wescom Credit Union Checking Account: Up To $500 Bonus
This credit union is open to membership for anyone who lives, works, attends school or worships in Southern California. Its accounts feature access to the CO-OP network of ATMs, which is over 30,000 strong across the U.S. and Canada. Members may access their direct deposits up to two days sooner than they would at many large banks, since Wescom posts deposits when they are received, regardless of the settlement date.
- Cash value: Up to $500
- Minimum deposit to qualify: $1,100
- Expiration date: Dec. 31
- How to get it: Join the credit union and open a new checking account with the promo code WELCOME. Then, maintain at least a $100 daily balance to get the first $100. Making two debit card purchases nets you another $50, while receiving two direct deposits of at least $500 in two consecutive months is worth an additional $100. If you fund an eligible loan product, another $250 is on the table. To get the full $500, you’ll need to complete all of the activities during your welcome period, defined as the first 90-120 days after account opening.
- When you’ll get it: The bonus amount will deposit to your account the first week following the first full month after you complete the qualifying activities.
- Terms and conditions: The offer is available to new members only and not available to youths; UCLA students, staff or faculty; Wescom employees or their families; Wescom volunteers; or Westcom board members. Student loans and Quick Assist Loans do not qualify for the loan bonus.
- Monthly fees: The Wescom checking account has a monthly fee of $8, but it can be waived in a variety of ways, and it’s waived for the first three months for new members.
- Promotion page: Wescom checking account bonus offer
Checking and Savings Account Promotions
One of the best savings account promotions in California requires a checking and savings account. However, you’ll be rewarded with a lucrative bonus for your efforts.
FirstBank Bloom Account Package: $300 Bonus
A Bloom Account Package includes a checking and savings account, plus online banking, eStatements and a FirstBank Visa debit card. You can build your savings balance as you spend money by electing to transfer a set amount or rounded to the next dollar difference with each transaction you make with your debit card, bill pay or electronic transfer. There’s no minimum balance requirement and no monthly service charges as long as you sign up for Online Banking with eStatements.
- Cash value: $300
- Minimum deposit to qualify: $1,500
- Expiration date: Aug. 18, 2021
- How to get it: Open a new Bloom Package through the offer page or by referencing the offer in-branch and enroll in online banking. Then, receive at least one direct deposit of $500 or more each month for three consecutive months after account opening. The first direct deposit must be made within 60 days of account opening and must be payroll, pension, Social Security or other recurring government benefits. Multiple direct deposits that combined exceed $500 do not qualify.
- When you’ll get it: Within 30 days of meeting the final qualifying requirement
- Terms and conditions: To be eligible, you must not currently hold a FirstBank personal checking account or have closed one within the past 90 days or ever with a negative balance, and you also can’t have ever previously received a bonus from the bank. All requirements must be met within 120 days of account opening.
- Monthly fee: $3 for paper statements or $0 if you sign up for eStatements
- Promotion page: FirstBank Bloom Package offer
Business Account Promotions
If you’re looking for the best business account promotions in California, look no further. This month, you can cash in on a bonus for opening a new account.
Chase Business Complete Banking: $300 Bonus
With Chase Business Complete Banking, you get low-fee checking along with Chase QuickAccept for accepting card payments from customers. This package includes options for accepting and sending wire transfers, access to online bill pay and more. New customers have the chance to earn $300 when they open an account and meet requirements. Here’s how:
- Cash value: $300
- Minimum deposit to qualify: $2,000
- Expiration date: July 23, 2021
- How to get it: Open a new Chase Business Complete Checking account using your offer code, which you can request via the promotion page. Deposit at least $2,000 within 30 days and keep at least $2,000 in the account for the next 60 days. You also need to complete five qualifying transactions.
- When you’ll get it: Within 15 days of meeting the requirements
- Terms and conditions: Debit card purchases, deposits made via Chase QuickAccept and Chase QuickDeposit, ACH (credits) and wires (debits and credits) count as qualifying transactions.
- Monthly fees: $15, but balance can be waived with actions like maintaining a $2,000 minimum daily balance or linking a Chase Private Client Checking account
- Promotion page: Chase Business Complete Banking bonus offer
Choosing the Best Bank Promotions
A special promotion shouldn’t be the only reason you choose a bank, but that also doesn’t mean you shouldn’t cash in when you can. Plenty of bank promotions in California that are available right now allow you to pocket some extra money. Just make sure the California bank is convenient to use and offers products and services that meet your financial needs.
Other Banks in California
Julia Gordon contributed to the reporting for this article.
Information on promotions is accurate as of June 29, 2021. Additional requirements may apply. Offers and terms are subject to change.
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This article has been updated with additional reporting since its original publication.
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