Best New Bank Promotions in California: September 2021 Offers, Coupons and Bonuses

California bank promotions

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.

More From Your Money
  • 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

PNC logo 2019

PNC Virtual Wallet: Up To $300 Bonus

The checking account portion of PNC’s Virtual Wallet is called Spend. Its features include a suite of digital tools so you can track your spending and how it aligns with your budgeting goals. All Virtual Wallet Spend accounts now feature Low Cash Mode, which is a set of account tools meant to prevent overdrawing your account and letting you activate an enhanced set of alerts for certain activities.

  • Cash value: Up to $300
  • Minimum deposit to qualify: $5,000
  • Expiration date: Sept. 30
  • How to get it: Open a new Virtual Wallet, Virtual Wallet with Performance Spend or Virtual Wallet with Performance Select through the offer page. You can open either just a Spend checking account or add additional accounts called Reserve and Growth at the same time. Reserve is a checking account meant for setting money aside for planned or unexpected expenses, while Growth is an interest-earning savings account. Once you have your new Virtual Wallet, you’ll need to make the qualifying direct deposits within 60 days of opening. The bonus terms are as follows:
    • Virtual Wallet: Total qualifying direct deposits of at least $500 to the Spend account nets a $50 bonus
    • Virtual Wallet with Performance Spend: Direct deposits of $2,000 or more made to the Spend account earns $200
    • Virtual Wallet with Performance Select: You must receive direct deposits of at least $5,000 during the qualifying period to get the full $300 bonus
  • When you’ll get it: Within 60-90 days of meeting the requirements
  • Terms and conditions: Those who currently are a signer on a PNC checking account or have been in the past 90 days are ineligible for this offer, as are those who have received a PNC bonus in the past 24 months. Certain transactions such as credit card advances, wire transfers or deposits made at a branch or ATM do not count as a direct deposit.
  • Monthly fees: The monthly fees for the accounts are as follows:
    • Virtual Wallet: $7, waived if you receive a direct deposit of $500 or more, have at least $500 in your combined Spend and Reserve accounts or are 62 or older
    • Virtual Wallet with Performance Spend: $15, waived if you receive a direct deposit of $2,000 or more, have at least $2,000 in your combined Spend and Reserve accounts or $10,000 across all your PNC deposit accounts
    • Virtual Wallet with Performance Select: $25, waived if you receive a direct deposit of $5,000 or more, have at least $5,000 in your combined Spend and Reserve accounts or $25,000 across all your PNC consumer and/or investment accounts
  • Promotion page: PNC Virtual Wallet offer

More From Your Money

wescom-credit-union

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

    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 Package: $300 Bonus

    The Bloom 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: Oct. 13
    • 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

    Citi Savings Account: Up To $2,000 Bonus

    California residents with significant assets are eligible to receive a whopping $2,000 in free cash from Citi for moving their money to the bank. Citi currently offers a tiered bonus based on your savings account balance, and the more you save, the more you’ll earn. Read on to find out more.

    • Cash value: Up to $2,000
    • Expiration date: Sept. 30
    • How to get it:
      • Open a new Citi Savings Account and fund it with new-to-Citibank funds within 20 days of opening.
      • Then, maintain a minimum balance for 60 days to get the bonus. The minimum deposit and balance amounts and bonuses are as follows:
        • $10,000-$24,999: $20 bonus
        • $25,000-$49,999: $50 bonus
        • $50,000-$99,999: $100 bonus
        • $100,000-$249,999: $200 bonus
        • $250,000-$499,999: $500 bonus
        • $500,000-$999,999: $1,000 bonus
        • $1,000,000 or more: $2,000 bonus
      • See the offer page for full terms and conditions.
    • When you’ll get it: Within 90 calendar days after completing required activities
    • Terms and conditions: New or existing Citibank customers are eligible for this offer provided they open a new savings account and follow the deposit minimums and reside in the eligible states (again, that’s New York, Connecticut, Maryland, Virginia, Washington, D.C., California, Nevada, New Jersey, Florida or Illinois). If you’re depositing more than $250,000, call to speak with a Citi representative. Your account must also remain open and in good standing through the period necessary to receive the funds (within 90 calendar days after completing the requirements).
    • Monthly fee: There is no fee for the Citi Savings Account, but the associated checking account may incur fees, depending on the average balance and the type of account.
    • Promotion page: Citi Savings Account bonus 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: Up To $750 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 up to $750 when they open an account and meet requirements. Here’s how:

    • Cash value: Up to $750
    • Minimum deposit to qualify: $2,000 to get a $300 bonus and $10,000 to get a $750 bonus
    • Expiration date: Oct. 21
    • How to get it:
      • To be eligible for the $300 bonus, open a new Chase Business Complete Checking account through the offer page and fund it with at least $2,000 in new-to-Chase funds within 30 days of coupon enrollment. Then, maintain a balance of at least $2,000 for the next 60 days. Additionally, you must make five qualifying transactions, which include debit card purchases, mobile deposits, ACH credits and wires (debits and credits) within the first 90 days of opening your account.
      • Follow the same process to qualify for a $750 bonus, but you must deposit $10,000, maintain that balance for 60 days and make 25 qualifying transactions within 90 days.
    • When you’ll get it: Within 15 days of completing the qualifying requirements
    • Terms and conditions: Must not currently be a Chase business checking customer or have closed an account within the last 90 days or with a negative balance in the past three years. Not for government entities, nonprofits, political action committees or campaign accounts.
    • Monthly fee: The Chase Business Complete Checking account has a monthly fee of $15, but it can be waived in a variety of ways, including maintaining an average beginning daily balance of $2,000 or spending at least $2,000 on your linked Chase Ink Business card. For full details on waiving the fee, refer to the offer page.
    • Promotion page: Chase Business Complete Checking $300 offer | Chase Business Complete Checking $750 offer

    PNC logo 2019

    PNC Business Checking Account: Up To $500 Bonus

    Smaller businesses or those looking for a more basic business checking account can open a PNC Business Checking or Business Checking Plus account for a $200 reward. Those with larger or more complex business banking needs can opt for the PNC Treasury Enterprise Plan or Analysis Business Checking account and receive a $500 bonus. Read on for the details.

    • Cash value: Up to $500
    • Minimum deposit to qualify: $30,000
    • Expiration date: Sept. 30
    • How to get it:
      • There are two ways to enroll in this promotion: Either apply for a coupon through the offer page, which you can then take into a branch to open an account, or begin online by filling out the form on the offer page.
      • As mentioned above, two accounts are eligible for a $200 bonus: Business Checking or Business Checking Plus. To get the $200, you’ll need to maintain an average ledger balance of $5,000 for all of the first three statement cycles, plus make at least 20 qualifying transactions with your associated Visa debit card during the same period.
      • To claim the $500 reward for the Treasury Enterprise Plan or Analysis Business Checking, you’ll need to maintain a higher average ledger balance of $30,000 for each of the statement cycles during the three-month qualifying period.
    • When you’ll get it: Within 90 days of meeting the requirements
    • Terms and conditions: This offer is only available to businesses with under $5 million in annual revenue whose statements cycle monthly. Existing PNC checking or savings accounts are not eligible.
    • Monthly fees: Depending on the account, fees range from $10 to $50, but there are ways to avoid them. Check out the offer page for specifics on each account.
    • Promotion page: PNC business checking offer

    Bank of America Business Checking Account: Up To $750 Bonus

    New business customers can cash in on a $500 or $750 bonus when opening a Business Advantage Fundamentals Banking or Business Advantage Relationship Banking account. You’ll also get a free one-year trial of Preferred Rewards for Business with this offer. Here’s more:

    • Cash value: Up to $750
    • Minimum spend to qualify: $20,000
    • Expiration date: Sept. 30
    • How to get it:
      • Open a new Business Advantage Fundamentals or Business Advantage Relationship checking account using the unique promo code received in the mail.
      • Deposit at least $50,000 within 15 days of account opening to earn a $750 bonus or at least $20,000 within 15 days of account opening to earn a $500 bonus.
      • Maintain an average balance of the qualifying deposit amount — $50,000 or $20,000 — for 60 days during the maintenance period.
    • When you’ll get it: Within 60 days from the end of your qualifying period
    • Terms and conditions: Each requirement must be met before the deadline. Offer is available only to new customers who receive an invitation from the bank.
    • Monthly fee: $16 or $29.95, but can be waived by meeting average monthly balance requirements, becoming a member of Preferred Rewards for Business or by spending the required amount on net new purchases on a business debit card (for Business Advantage Fundamentals)
    • Promotion page: Bank of America business checking 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 Aug. 31, 2021. Additional requirements may apply. Offers and terms are subject to change.

    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.

    This article has been updated with additional reporting since its original publication.

    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.

    About the Author

    Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

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