Banner Bank Bonus: $200 / $500 for Checking & Savings Accounts

If you live in Oregon, Washington, California, or Idaho, you may be able to take advantage of a promotion being offered by Banner Bank.

The dollar amounts are pretty good for an offer nowadays, given higher interest rates and the hassle of moving over a direct deposit, so this might be a good fit for someone in search of a bonus offer.

It’s not a super compelling offer but one that just might fit what you need.

Table of Contents
  1. Who is Banner Bank?
  2. Banner Bank $200 & $500 Bonus
  3. How does this compare?

Who is Banner Bank?

Banner Bank is a regional bank with branches in OR, WA, CA and ID. They are FDIC insured (FDIC #28489) and were founded more than 130 years ago with solid financials (five stars from Bauer Financial) and $16.6 billion in assets.

What they lack in a geographic footprint, they make up for with all their charitable work. In 2020, they supported more than a thousand charitable and community causes within their foot print. They gave over $3.5 million and thousands of volunteer hours. It seems like a great bank to work with.

Banner Bank $200 & $500 Bonus

Banner Bank has a new account bundle bonus when you open a checking and savings/money market account at the same time and fund it with sufficient funds. You will also need to complete at least $1,000 of direct deposits.

To get $200, you need to open a new personal checking account and a new personal savings or money market at the same time, meet $2,000 deposit requirements for 90 days and set up monthly auto transfer.

To get $500, you need to open a new personal checking account and a new personal savings or money market at the same time, meet $26,000 deposit requirements for 90 days and set up monthly auto transfer.

The offer code is 23BU and this can be opened online or at a branch.

📢 The promotional page was recently updated to $200 and $500 (up from $100 and $400) but the terms and conditions weren’t updated yet to match the bonus amounts.

Offer is available to residents of OR, WA, CA or ID only.

👉 Learn more about this bonus

How does this compare?

If you live within the geographic footprint of Banner Bank, this seems like a fine bank to work with and they have a solid bonus offer. Since it is quite limited, most people will not be able to get an account.

BMO Relationship Checking – $400

BMO Bank is offering a $400 bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.

*Conditions apply

👉 Click here to learn more

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH124 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

👉 Click here to learn more

Bank of America – $200 Bonus Offer

Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.

👉 Click here to learn more

Chase Total Checking® – $300

Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

👉 Click here to learn more

HSBC Premier Checking – up to $4,000

HSBC has an offer where you can get up to $4,000 for eligible new customers who open an HSBC Premier checking account, make a sizable deposit, and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.

👉 Click here to learn more

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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