[OR, WA, CA & ID] Banner Bank $200 Checking Bonus, Direct Deposit Optional – Doctor Of Credit

Update 2/27/23: Deal is back and valid until 2/28/2023.

Update 1/3/23: Extended until 1/31/23.

Update 11/9/22: According to the comments a lot of people are being requested to apply in branch

Update 11/7/22: Direct deposit actually seems to be optional. In addition the e-mail button is now working again.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Offer available to residents of OR, WA, CA or ID only
• Direct deposit required: Yes, $1,000+
• Additional requirements: Use promo code
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: Avoidable
• Early account termination fee: None
• Household limit: None
• Expiration date: 12/31/22

The Offer

Direct link to offer

• Banner Bank is offering a $200 bonus. Bonus is broken down as follows:
  • $100 checking bonus when you open a new personal checking account and:
    • Complete at least $1,000 if direct deposits OR Have a minimum daily balance of $1,000 or more within 30 days of account opening and maintain it for 60 days
  • $100 savings bonus when you open a new personal savings or money market account and
    • Deposit a total of $1,000 or more in new money within 30 days of account opening
    • Maintain a balance of $1,000+ for 60 days
    • Set up monthly recurring auto transfers of $25+

The Fine Print

• To receive the offer, you must open your account online at bannerbank.com or at a Banner Bank branch and use the promo code at account opening that was provided to you by Banner Bank. Standard account opening requirements apply.
• Offer is not available to existing Banner Bank clients, or those whose accounts have been closed within the last 2 years.
• One bonus per individual.
• Offer is subject to change without notice and may not be combined with any other offer. Must meet standard account opening requirements. Offer available to residents of OR, WA, CA or ID only. Employees of Banner Bank, its affiliates and subsidiaries are not eligible for this offer.To receive the $100 checking bonus: 1) Open any new Banner Bank personal checking account; AND 2a) Complete at least $1,000 of direct deposits; OR 2b) Have a minimum daily balance of $1,000 or more within 30 days of account opening and maintain for 60 days. After you have met the above requirements and the account has been open for 90 days, we’ll deposit the bonus into your new account within 30 days. Account must be in an open status and in good standing at the time of payout.
• Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments or mobile check deposits are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. Deposits are subject to verification and not available for immediate withdrawal.
• To receive the $100 savings bonus: 1) Open a Banner Bank personal savings or money market account at the same time your Banner Bank checking account is opened; AND 2) Deposit a total of $1,000 or more in new money within 30 days of account opening; AND 3) Maintain a $1,000 minimum daily balance of $1,000 or more for 60 days; AND 4) Set up monthly recurring auto transfers of $25 or more from your Banner Bank checking account to your Banner Bank savings or money market account. After you have met the above requirements and your accounts have been open for 90 days, we’ll deposit the bonus into your new account within 30 days. Account must be in an open status and in good standing at the time of payout.
• Account Closing: Checking, savings or money market account must be in an open status and in good standing at the time of payout. If the checking, savings or money market account is closed within six months of account opening and after bonus payment, we will deduct the bonus amount at closing. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Please consult your tax advisers concerning the reporting to Internal Revenue Service of bonus payments as interest on accounts. Offer expires 12/31/2022.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is a $2 paper statement fee, so remember to opt for eStatements.

Monthly Fees

Connecting checking account’s monthly fee is waived if:

• $500 or more in direct deposits each month or
• a minimum daily balance of $500 or more or
• if any account owner is under age 25

Early Account Termination Fee

Account must be kept open for six months otherwise bonus is forfeit.

Our Verdict

Previously they offered a targeted $100 checking bonus. This bonus should be worth doing for people that haven’t done the bigger bonuses available.

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