Newest Umpqua Bank Promotions, Bonuses and Offers: August 2020

Umpqua Bank promotions

Umpqua Bank is a regional bank with locations in Oregon, Washington, California, Idaho and Nevada. Founded in 1953, Umpqua is the largest bank headquartered in the Pacific Northwest, with more than 200 branches and $28.8 billion in total assets.

Like most banks, Umpqua offers promotions to draw in new customers, but a lot of those customers aren’t paying attention. A GOBankingRates survey revealed that most respondents choose banks based on something other than cash bonuses and other perks. While these promotions shouldn’t be the only reason you open an account, they do provide extra incentive if you happen to be in the market for a new bank.

Umpqua Bank Promotions at a Glance

Here’s a quick rundown of the promotions Umpqua has on tap for June:

Best Umpqua Promotions: August 2020
Account Cash Value of Bonus Expiration Date
Umpqua Bank home loan $500 None
Visa Signature Real Rewards credit card $25 None
Cash Rewards American Express credit card $25 None

Current Umpqua Bank Promotions

Umpqua doesn’t have a savings or checking account promotion this month, but you’ll find offers on home loans and credit cards. Read on for more details.

Home Loan: $500 Credit

Fees can add up in a hurry when you take out a home loan. This offer lets you offset some of those fees by earning a $500 credit if you close on an Umpqua home loan. Here’s what you need to know:

  • Cash value: $500
  • Minimum deposit to qualify: N/A
  • Expiration date: None
  • How to get it: Apply for a home loan with Umpqua Bank and create an Umpqua personal checking account if you don’t already have one.
  • When you’ll get it: Within 90 days of closing
  • Terms and conditions: Applicant must have an Umpqua personal checking account with a minimum balance of $1,000 or recurring direct deposits of $500 or more.
  • Monthly fee: None
  • Promotion page: $500 home loan credit offer details

Visa Signature Real Rewards Card: $25 Value

If you’re looking for a new cash-back credit card, this could be the one for you. You’ll get $25 cash back immediately after the first purchase and receive 1.5 points for every $1 you spend without any caps or limits. Here’s more:

More From Your Money
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  • Cash value: $25
  • Minimum spend to qualify: One purchase
  • Expiration date: None
  • How to get it: Apply and get approved for the Visa Real Rewards credit card, then make a purchase.
  • When you’ll get it: Within six to eight weeks after the first purchase is made
  • Terms and conditions: The offer includes 2,500 bonus points, which can be redeemed for $25 and will be applied to your credit card account after you’ve made your first purchase with the card. The points can only be redeemed as cash if you have a bank account with Umpqua. You must be at least 18 years old and have a valid U.S. address and Social Security number to open this credit card account.
  • Annual fee: None
  • Promotion page: Visa Signature Real Rewards credit card

Cash Rewards American Express Card: $25 Cash Back

Umpqua offers an American Express card that rewards you with $25 after you use it to make a purchase. The card also gives you 3% cash back on the first $6,000 you spend each year at gas stations, 2% on supermarket purchases and 1% on everything else. As with the Visa Real Rewards card, you don’t need an Umpqua coupon code to get this offer.

  • Cash value: $25
  • Minimum spend to qualify: One purchase
  • Expiration date: None
  • How to get it: Apply and get approved for the card and make a purchase.
  • When you’ll get it: Within six to eight weeks after the first purchase
  • Terms and conditions: The $25 can only be deposited into an Umpqua bank account. You must be at least 18 years old and have a valid U.S. address and Social Security number to open this credit card account.
  • Annual fee: None
  • Promotion page: Cash Rewards American Express credit card

How To Open an Umpqua Bank Account

To start banking with Umpqua, follow these steps:

  1. Go to Umpqua’s homepage.
  2. Select “Personal” under the banking options.
  3. Choose the type of account you’d like to open.
  4. Choose from the available options within that category.

Do your research before deciding to open a bank account in your name. Make sure you meet the financial requirements for minimum deposits, monthly balances and recurring direct deposits to avoid incurring extra fees later on. You don’t want any banking surprises.

Are Umpqua Bank Promotions Worth Switching For?

If you live in the Pacific Northwest and enjoy community-focused banking, Umpqua might be a good fit. Whether you’re taking out a home loan or looking for a new credit card, you can earn extra money by meeting the bonus requirements. Just keep in mind that you’ll need good credit to get approved for a loan or credit card, so if you have a low credit score, you’ll need to improve it before taking advantage of the current offers. You can also check back in the coming months to see if there are any new Umpqua offers for opening other types of accounts.

Check back each month for updates and new promotions as they are available. If none of the above promotions seem like a good fit for you, there are also a number of other banks offering promotions this month.

Information on promotions is accurate as of July 28, 2020. Additional requirements may apply. Offers and terms are subject to change. 

This content is not provided by Umpqua 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 Umpqua Bank.

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

About the Author

Levi is a writer and editor based in Los Angeles. With a background in both print and digital publications, he’s written primarily about military lifestyle and politics and is now transitioning to personal finance.