OneWest Bank Promotions: $150, $250, $300 Checking Bonuses [CA]

UPDATE: OneWest Bank will be retired as a brand. All OneWest Bank branches and products will become First Citizens Bank branches and products. The OneWest Bank brand will be retired and the website will go dark early on July 18th, 2022. 

First-Citizens Bank & Trust Company and its CIT Bank division are the same FDIC-Insured Institution. Deposits held under each name are not separately insured but are combined to determine whether a depositor has exceeded the $250,000 federal insurance deposit limit, per depositor for each ownership category. For purposes of calculating aggregate deposits, you should include deposits held in First-Citizens Bank & Trust Company and CIT Bank.

OneWest Bank, a California based institution, offers good sign-up bonuses every now and again, which we”ll keep updated here. Offers in the past have been for $150 to $600 cash bonuses.

OneWest Bank is CIT’s southern California bank division. Headquartered in Pasadena, CA and established in 2009, OneWest Bank offers Checking, Savings, Money Market and CD accounts to customers in the Southern California area.

Read more: See bank offers from Chase Bank, U.S. Bank, TD Bank, BMO Harris, and Bank of America.

We’ll review the current offer(s) below.

[Expired] OneWest Bank $150/$250/$300 Checking Bonus

• What you’ll get: $150, $250 or $300 bonus
• Where it’s available: CA
• How to earn it:
  • Open the qualifying checking account that best fits your needs to receive the corresponding bonus.
    • OneAccount Checking $300 bonus with $10,000 opening balance and maintain an average balance of at least $10,000, during the first 90 days following account funding.
    • Premium Checking $250 bonus with $2,000 opening balance and maintain an average balance of at least $2,500 during the first 90 days following account funding.
    • Personal Checking $150 bonus with $500 opening balance and maintain an average balance of at least $500 during the first 90 days following account funding.
  • During the first 90 days following account funding, meet any three of the qualifying activities below using your checking account:
    • $650 OR MORE IN RECURRING DIRECT DEPOSITS/ACH TO THE CHECKING ACCOUNT PER MONTH FOR AT LEAST 2 CONSECUTIVE CALENDAR MONTHS
    • eSTATEMENTS REGISTRATION
    • 8 OR MORE DEBIT CARD PURCHASES
    • 6 OR MORE ATM TRANSACTIONS
    • 2 OR MORE ONLINE BILL PAY TRANSACTIONS
    • 2 OR MORE MOBILE CHECK DEPOSITS
• When it expires: 12/31/2021

Also, take a look at the promos from HSBC, Chase and Bank of America and more here.

How To Earn The Bonus

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[Expired] OneWest Bank $300 Money Market Bonus

• What you’ll get: Up to $300 bonus
• Where it’s available: CA
• How to earn it:
  • Open a Premium Money Market Account (PMMA) with a minimum deposit of $10,000 in new money.
  • Maintain principle balance $10,000 – $5,000,000 in the PMMA for the rate.
  • Maintain the corresponding average balance listed for the first 90 days following account funding of the bonus.
    • $300 bonus: $250,000 – $5,000,000 average balance
    • $200 bonus: $100,000 – $249,999.99 average balance
    • $100 bonus: $10,000 – $99,999.99 average balance
• When it expires: Not listed

How To Earn The Bonus

Bottom Line

Not much of a deal considering the high deposit amounts required for each bonus tier. Might be better just to deposit money in a high yield online Savings account.

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[Expired] OneWest Bank $600 Business Account Bonus

Earn up to $600 in bonuses with a variety of new Business accounts with this offer. 

• Offers expires 3/31/2020
• $200 bonus for opening an eligible OneBusiness Interest Checking Account
• $200 bonus for opening an eligible OneBusiness Money Market Savings Account
• $200 rebate toward a qualifying OneBusiness Equipment Financing Transaction

How To Earn Up To $600 In bonuses

• A $200 bonus offer applies to new OneBusiness Interest Checking accounts and new OneBusiness Money Market savings accounts opened by Southern California businesses.
• To be eligible for a bonus, the OneBusiness Interest Checking account must be opened with an initial deposit of at least $1,500 and requires that an average daily balance of at least $1,500 be maintained for at least 90 days from the date of account funding.
• The OneBusiness Money Market Savings account must be opened with an initial deposit of at least $10,000 and requires that a minimum average daily balance of $10,000 be maintained for at least 90 days from the date of account funding.
• Funds used to open these accounts must be new money not on deposit or held at OneWest Bank or BankonCIT.com (CIT) at the time of account opening.
• Funds withdrawn from OneWest Bank or CIT within 90 days of account opening are also restricted.
• Bonuses will be paid in the form of a statement credit to the subject account within 30 days of completion of all of the aforementioned requirements.
• Account must be in good standing at the time of bonus payment.
• Limit one Checking account bonus and one Savings account bonus per customer.

Read more: See the best bank promotions here and the best investing promotions here.