Best New Bank Promotions in California: June 2020 Offers, Coupons and Bonuses

Nine of the best California bank promotions for new accounts.

Banking customers in California can choose from the usual lineup of large national banks as well as 123 credit unions and 149 chartered banks. If you’re in search of a new bank in the Golden State, you have endless options — both in terms of the banks themselves and the bonuses they offer for opening new accounts.

A GOBankingRates survey found that most respondents don’t know about the promotions banks offer, causing them to miss out on free money and other perks. Keep reading to learn about the best bank promotions in California for June 2020:

California Promotions, Bonuses and Offers at a Glance

Whether you’re new to California or are just looking for a change in banks, the following promotions will reward you simply for opening a new account. Here’s a quick look:

Best Bank Promotions California: June 2020
AccountCash Value of BonusExpiration Date
HSBC 3% Premier Checking
Up to $700June 29 
FirstBank Anywhere Checking
$300June 24 
Christian Community Credit Union Checking
$200None
Paradise Valley Federal Credit Union Checking
$150None
Citi Priority Account Package Checking and Savings
$700June 30 
Chase Total Checking + Chase Savings
$600July 2 
OneWest Bank Money Market
Up to $300None
First Republic Bank San Diego County Bar Association
Up to $6,540None
BBVA Select Credit Card
$500None
UnionBank Rewards Visa Credit Card
$100None

Compare: Best Banks in California

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California bank promotions
Current California Bank Promotions

Following is a closer look at the cash bonuses banks are offering California customers. You’ll need to follow specific rules and requirements to earn the cash offers, but most of the requirements aren’t too hard to meet.

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Best Checking Account Promotions in California

Here’s the scoop on California’s best checking account promotions:

HSBC 3% Premier Checking Promotion: Up To $700 Cash Bonus

For this HSBC promotion, you’ll need to receive at least $4,000 per month in direct deposits to earn the full $700. Here are the terms:

  • Cash value: Up to $700
  • Minimum deposit to qualify: None
  • Expiration date: June 29
  • How to get it: Open an account online and set up direct deposits. You’ll earn 3% per month for the first six months on your direct deposits, with a maximum monthly bonus amount of $120.
  • When you’ll get it: You’ll receive each month’s bonus within eight weeks after the statement closes.
  • Terms and conditions: Click on “Apply Now” on the promotional page to get started.
  • Monthly fees: $50 if you don’t maintain at least $5,000 in direct deposits, an HSBC mortgage of $500,000 or more, or a minimum account balance of $75,000
  • Promotion page: HSBC 3% Premier Checking Promotion

FirstBank Anywhere Checking Account Promotion: $300 Cash Bonus 

FirstBank has four branch locations in Southern California, but if you don’t live near one of them you can still open an account online and earn the $300 bonus. Here are the details: 

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  • Cash value: $300
  • Minimum deposit to qualify: At least one $500 direct deposit
  • Expiration date: June 24, 2020
  • How to get it: Open a new checking account at a branch or online and receive direct deposits of at least $500 each for three consecutive months to earn the bonus.
  • When you’ll get it: Within 30 days after meeting the requirements
  • Terms and conditions: For new customers only; the first direct deposit must be received within 60 days of opening the account
  • Monthly fees: None
  • Promotion page: FirstBank Anywhere Checking Account Promotion

Christian Community Credit Union Checking Promotion: $200 Cash Bonus 

If you worship at select churches and ministries or have kids at certain schools in Southern California, you might be eligible to become a CCCU member. The credit union offers new customers $200 to open a new checking account. Here’s more:

  • Cash value: $200
  • Minimum deposit to qualify: $100
  • Expiration date: None
  • How to get it: Open a new checking account with at least $100, sign up for e-statements within 60 days and receive two recurring direct deposits of at least $200 per month.
  • When you’ll get it: Within 60 days after meeting the requirements
  • Terms and conditions: For new customers only; the first direct deposit must be received within 60 days of opening the account
  • Monthly fees: $0 for the basic Free Checking account; $10 for the interest-earning Checking Plus account, which can be waived when you receive at least $1,500 in direct deposits per month. 
  • Promotion page: Christian Community Credit Union Checking Account Promotion

Paradise Valley Federal Credit Union Checking Account Promotion: $150 Bonus

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San Diego residents and their extended families who worship at a particular church or work in healthcare in select locations can receive $150 for opening an account with Paradise Valley. Here are the details:

  • Cash value: $150
  • Minimum deposit to qualify: None
  • Expiration date: None
  • How to get it: Open a new checking account with a debit card, make at least five debit card purchases within 60 days and set up direct deposits.
  • When you’ll get it: After meeting the requirements
  • Terms and conditions: For new and eligible credit union members only
  • Monthly fees: None
  • Promotion page: Paradise Valley Federal Credit Union Checking Account Promotion

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Best Savings Account Promotions in California

Get more from your savings with one of these savings account bonus offers:

Citi Priority Account Package Checking and Savings Account Promotion: $700 Bonus 

If you have plenty of money to deposit, you can earn $700 by opening a checking and savings account with Citi. Here’s how:

  • Cash value: $700
  • Minimum deposit to qualify: $50,000
  • Expiration date: June 30
  • How to get it: Open a checking and savings account and then deposit $50,000 within the next 30 days.
  • When you’ll get it: Within 90 days after meeting the requirements
  • Terms and conditions: You must maintain a minimum balance of $50,000 for 60 days.
  • Monthly fees: $30, but waived if you maintain a $50,000 combined balance among all accounts
  • Promotion page: Citi Priority Account Package Checking and Savings Account Promotion

Chase Total Checking + Chase Savings Promotion: $600 Cash Bonus 

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Chase Bank’s latest promotion will put $600 in your pocket for opening a checking and savings account. You can also open a savings account and skip the checking requirement, but your bonus will only be $200. Here are the details: 

  • Cash value: $600 (or $200 for a savings account only)
  • Minimum deposit to qualify: $15,000
  • Expiration date: July 2, 2020
  • How to get it: Open a Chase Total Checking and Savings account and then receive recurring direct deposits of $500 or more to your checking account within the first 90 days. Deposit $15,000 or more in your savings account within the first 20 days.
  • When you’ll get it: Within 10 days of meeting the requirements
  • Terms and conditions: For new account holders only; to earn the $600 bonus, both accounts must be opened at the same time.
  • Monthly fees: You’ll be charged $12 for the checking account and $5 for the savings account, both of which can be waived. To waive the checking account fee, you must receive at least $500 in direct deposits and maintain a $1,500 minimum daily balance or a combined account balance of $5,000 per month. To waive the savings account fee, you’ll have to maintain at least $300 in the savings account or receive at least $25 in total Autosave or other repeating automatic transfers from your personal Chase checking account or Chase Liquid Card.
  • Promotion page: Chase Total Checking + Chase Savings Promotion

OneWest Bank Money Market Promotion: Up To $300 

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OneWest Bank is a division of CIT Bank and has more than 60 branches in Southern California. With this promotion, customers earn different bonuses for different balances when opening a money market account. You’ll earn $100 for balances of $10,000 to $99,999, $200 for balances of $100,000 to $249,999, and $300 for balances of $250,000 to $5 million. Here’s more:

  • Cash value: Up to $300
  • Minimum deposit to qualify: $10,000
  • Expiration date: None
  • How to get it: Open a Premier money market account with a minimum of $10,000 and maintain the balance for 90 days.
  • When you’ll get it: Within 60 days after meeting the balance requirements
  • Terms and conditions: An annual percentage yield of 1% will be paid during the promotional period, which will go down to a regular APY of 0.15% to 0.50%, depending on your account balance.
  • Monthly fees: None
  • Promotion page: OneWest Bank Money Market Promotion

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Best Business Account Promotions in California

Businesses and professional associations can earn banking bonuses in the Golden State, too. Below are the details:

First Republic Bank San Diego County Bar Association Promotion: Up to $6,540 Cash Bonus

Members of the San Diego County Bar Association (SDCBA) have access to special First Republic Bank promotions that can add up to $6.540 in savings. You’ll receive a $250 cash bonus for opening a personal checking account. You’ll also get $795 in mortgage processing and document fees waived as well as no fees or closing costs on a home equity loan, up to $5,000. Finally, you can save on the $495 origination fee for a personal loan. Here’s more:

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    Best Credit Card Rewards Promotions in California

    Opening a new credit card can earn you plenty of points. Here are the best credit card rewards promotions available now:

    BBVA Select Credit Card Promotion: $500 Cash Value

    BBVA’s top-tier credit card earns you up to quadruple points on purchases, which you can redeem for cash or free travel. Here’s how to earn the bonus:

    • Cash value: $500 (based on 50,000 bonus points)
    • Minimum spend: $4,000
    • Expiration date: None
    • How to get it: Apply and get approved for the card and then spend $1,500 in the first 90 days of opening the card account.
    • When you’ll get it: Not specified
    • Terms and conditions: Only for residents of Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas
    • Annual fee: $99 (waived the first year)
    • Promotion page: BBVA Select Credit Card Promotion

    UnionBank Rewards Visa Credit Card Promotion: $100 Cash Value

    UnionBank is based in San Francisco and provides deposit accounts, loans and credit cards. When you get approved for the Rewards Visa credit card you’ll receive 10,000 points as a welcome bonus, which can be redeemed for $100. Here are the details:

    • Cash value: $100 (based on 10,000 points)
    • Minimum spend: $1,000
    • Expiration date: None
    • How to get it: Apply and get approved for the card, then make $1,000 in purchases in the first three months after approval.
    • When you’ll get it: After making the minimum required purchases
    • Terms and conditions: Subject to credit approval
    • Annual fee: None
    • Promotion page: UnionBank Rewards Visa Credit Card Promotion

    More Offers: Best Rewards Credit Cards

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    How To Find the Best California Bank Promotions

    You’ll need to do a little research to take advantage of the best California bank promotions. Follow these steps to get started:

    • Visit or call a local branch and ask about any new account offers.
    • Check bank websites for promotional offers.
    • Look for promotional offers in your mailbox.
    • Check GOBankingRates to read up on the latest promotional offers.

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    More Bank Promotions

    Information on promotions was sourced from banks’ websites on May 18, 2020. Additional requirements may apply. Offers and terms are subject to change.

    This content is not provided by any of the financial institutions mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any of the financial institutions mentioned.

    GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

    GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.

    Editorial Note: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

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