Newest East West Bank Promotions: Best Offers, Coupons and Bonuses May 2020

Find out what East West Bank promotions are available now.

East West Bank is a full-service bank founded in 1973 to serve the Chinese-American community in Los Angeles, but now operates in other regions of the U.S. and China. The bank serves customers in seven U.S. states: California, Georgia, Massachusetts, Nevada, New York, Texas and Washington.

Like many banks, East West offers promotions to lure new customers, but a surprising number of Americans miss out on free money by ignoring promotional offers. In a GOBankingRates survey, more than half of respondents said they don’t even know if their own banks offer sign-up bonuses. Even more surprising, more than 65% said a bonus wouldn’t be enough incentive to switch banks.

If you live in East West’s service area, you might want to see how much money you can save with one of its promotions. This guide to East West Bank promotions covers the following topics:

East West Bank Promotions at a Glance

East West Bank’s offers for May 2020 include incentives for new and existing business account customers. Check out this overview before you dive into the details:

Best East West Bank Promotions: May 2020
AccountCash Value of BonusExpiration Date
Merchant Services AccountUp To $100May 29, 2020
SBA 7(a) LoanUp To $2,500May 29, 2020

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Current East West Bank Promotions

You won’t find any East West Bank bonuses for personal checking and savings accounts in May, but the bank does have a few incentives for business customers. You can earn a rebate when you set up a new Merchant Services Account and also take advantage of a fee waiver for select Small Business Association loans. Keep reading to learn more.

Merchant Services Account: Up To $100 Rebate

East West Bank’s Merchant Services account lets you maximize your revenue stream by giving customers more payment options beyond just cash and checks. The account not only gives you the ability to accept payments from all major credit cards, but you can also get paid in person and online. With the latest promotion you can earn up to a $100 rebate when you sign up for a new Merchant Services account with East West Bank and have a sales volume of at least $50,000 per month. A $50 rebate is available for customers with a $30,000 minimum sales volume per month. Here’s more:

  • Cash value: Up to $100
  • Minimum deposit to qualify: $30,000
  • Expiration date: May 29, 2020
  • How to get it: Open a new Merchant Services account and meet the sales volume requirement.
  • When you’ll get it: When you meet the required sales volume
  • Terms and conditions: Offer only available for new merchant accounts.
  • Monthly fee: N/A
  • Promotion page: East West Bank Merchant Services rebate offer

SBA 7(a) Loan: Up To $2,500 Fee Waiver

If you’re a small business owner in need of cash to expand your business or buy property, you can apply for an SBA loan through East West Bank. When you apply for an SBA 7(a) loan before the end of May, the bank will waive the packaging fee up to $2,500. Best of all, there are no East West Bank coupon codes required to qualify.  Here are the details for this offer:

  • Cash value: Up to $2,500
  • Minimum deposit to qualify: N/A
  • Expiration date: May 29, 2020
  • How to get it: Apply for an SBA 7(a) loan by May 29 and receive funding by Aug. 31, 2020.
  • When you’ll get it: Fee waiver is applied at loan funding.
  • Terms and conditions: The fee waiver applies to SBA 7(a) loan terms. Loan is subject to approval by the bank.
  • Monthly fee: N/A
  • Promotion page: East West Bank SBA 7(a) Loan offer

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How To Open an East West Bank Account

You’ll need to visit a local branch to open an East West Bank account. Be sure to take your Social Security number and a government-issued photo ID such as a driver’s license, state or military ID. To fund the account, you’ll need a debit card, credit card, check or, to make a transfer, your other bank’s account and routing number. Once you’ve opened your accounts you can download the mobile app and sign up for online banking.

Compare TheseNewest Checking Account Bonuses and Promotions

Are East West Bank Promotions the Right Choice for You?

East West Bank is a good option for customers who travel frequently or operate a business between the U.S. and China and like building a relationship with a local bank. However, if you’re looking for a personal banking product, you might want to wait until East West offers a promotion on those accounts before making the switch. Its current promotions are limited to business accounts.

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This content is not provided by East West Bank. 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 East West Bank.

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

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