Online Checking Account Special
Earn $100 with a Convenience Checking Account
To earn $100 open a new Convenience Checking account with a $500 initial deposit and make $2,000 in Qualifying Direct Deposits within 60 days from opening.
Here’s how it works
- Open a new Convenience Checking account online
Open your account online with an initial deposit of $500. For accounts opened online only. - Set up your direct deposit
Make Qualifying Direct Deposits1 totaling $2,000 or more within 60 days of opening your account. - Get rewarded
Receive your $100 bonus within 120 days from account opening when you meet qualifying requirements. Bonuses are limited to one per account per customer. This offer cannot be combined with other checking promotions. Early closing fees apply.
[1] See important information
1 Eligibility
To be eligible for a new checking account bonus, you must open a new Convenience Checking account (“Account”) and meet the respective requirements outlined in the table below. See the Initial Opening Deposit and Qualifying Direct Deposits sections below for the definition of an Initial Opening Deposit and Qualifying Direct Deposits.
Table 1
| New Checking Account | Opened on or after… | …via | … with Initial Opening Deposit of… | … and have Qualifying Direct Deposits of… | … are eligible to receive a bonus amount of |
| Convenience Checking | 5/28/2024 HST | Online | $500 | $2,000 | $100 |
A new Account must be opened. Changing an existing checking account product type will not qualify for any of the bonus offers. The Account open date is considered day 1. For Accounts opened on the weekend or a federal holiday, the next business day is considered your Account open date.
If qualifications are met, a bonus will be applied directly to your Account within 120 days of your Account’s open date. Your Account must remain open and be in good standing (e.g. not overdrawn or charged off, etc.) at the time of the bonus award. If your Account type is changed or if your Account is closed before the bonus is awarded, you will not receive the bonus. Limit one checking bonus per Account per customer. If a checking Account is jointly owned and qualifies for the bonus, we consider the award as being granted to both owners and will satisfy the limit of one checking bonus per customer. This offer cannot be combined with other checking promotions. Offer is subject to change or end without prior notice.
Initial Opening Deposit
An Initial Opening Deposit is defined as the deposit made during the account opening application process. Any deposits made after the account opening process is completed are not considered as part of your Initial Opening Deposit, even if transactions are made on the same day as account opening. Although the minimum deposit to open a Convenience Checking account is $25, a higher Initial Opening Deposit of $500 is required to qualify for the Convenience Checking bonus. See Table 1 above. Your Initial Opening Deposit does not count towards the Qualifying Direct Deposits requirement.
Qualifying Direct Deposits
Qualifying Direct Deposits are defined as certain incoming ACH credits posted to your account, which can include electronic deposits made from your employer or another payer, such as your salary, pension, or Social Security benefits. The deposit method is determined by the sender of the credit, and Bank of Hawaii (“the Bank”) will rely on this information to determine a Qualifying Direct Deposit. The Bank has sole discretion to determine what a Qualifying Direct Deposit is for purposes of this promotion.
The following types of transactions are examples of what are NOT considered Qualifying Direct Deposits:
- All Initial Opening Deposits of checking accounts
- Peer-to-peer transfers processed as an ACH credit (such as Venmo, PayPal, etc.)
- Zelle transfers
- Deposits made at a teller, ATM, or through the Bank of Hawaii mobile app
- Internal transfers from another Bank of Hawaii account
- Incoming wires
If you fail to meet the Qualifying Direct Deposit requirement within 60 days from Account opening, you will not receive the bonus.
1099 Issuance
A 1099-INT form will be issued from Bank of Hawaii to the primary accountholder for the value of bonus applied to your Account. You are responsible for any and all taxes and fees associated with the credit awarded from this promotion.
About Your Checking Account
| Checking Account Type | Minimum Deposit to Open | Monthly Service Fee | Minimum Balance to Earn APY | Variable APY |
| Convenience | $25* | $5 | N/A | N/A |
* Although the minimum deposit to open a Convenience Checking account is $25, a higher Initial Opening Deposit of $500 is required to qualify for the Convenience Checking bonus.
The variable Annual Percentage Yields (APYs) are as of 8/1/2024 for State of Hawaii and 8/2/2024 for Saipan, Guam, and Palau and can change at any time. Fees may reduce earnings. Convenience Checking accounts closed within 180 days of account opening will be assessed an early closing fee of $40.
For further details on these accounts, please see the Outline of Basic Terms & Conditions, Consumer Checking and Savings Account Fee Schedule available at a branch or at boh.com/agreements.
Earn $100 and gain access to the largest network of branches and ATMs in Hawaii
Open your account online in minutes.
[2,3,4] See important information
2 The average daily Ledger Balance will appear on your statement as “Average balance”.
3 Direct Deposit is defined as an electronic deposit made through the ACH network to your Account by someone else, such as an employer issuing payroll or a government paying benefits made during a monthly cycle.
4 Debit Card Requirements and Other Restrictions:
- Must have a Bank of Hawaii checking account
- Must be 16 years or older
Frequently Asked Questions
How do I fund my account online?
There are three methods to fund your account online:
The first method, Instant Account Verification (IAV) is an easy and convenient way for you to use the username and password of your existing account with another financial institution to verify and fund your new account on the spot.
The second method, Small Dollar Verification (SDV) verifies your new account by depositing two small deposits (less than $1 each) into your existing bank account. The deposits will appear within 1-3 business days. You will then need to log back into your new deposit account application and verify the deposit amounts to successfully open your account online.
The last method is internal funding. If you are an existing Bank of Hawaii customer, you can enter your online banking login or debit card and PIN at the beginning of the account opening process to fund your new account with funds from your existing Bank of Hawaii account.
What is considered a Qualifying Direct Deposit?
Qualifying Direct Deposits are defined as incoming ACH credits which can include electronic deposits made from an employer or another payer, such as salary, pension, or Social Security benefits. The deposit method is determined by the sender of the credit and Bank of Hawaii will rely on this information to determine a Qualifying Direct Deposit.
The following types of transactions are examples of what is not considered Qualifying Direct Deposits:
- Peer-to-peer transfers processed as an ACH credit (such as Venmo, PayPal, etc.)
- Zelle
- Deposits made at a teller, ATM, or through the Bank of Hawaii mobile app
- Internal transfers from another Bank of Hawaii account
- Incoming wires
How do I set up direct deposit?
Setting up direct deposit is quick and easy. Visit our Direct Deposits page for more information.
I participated in this promotion. When will I see the $100 bonus in my account?
Those who qualified for the promotion will see the statement credit applied to Convenience checking account within 120 days of their account opening date.
Who is eligible for this promotion?
Any new or existing Bank of Hawaii customer is eligible for this promotion when they open a new Convenience checking account online.
What if my account is jointly owned? Who will earn the checking bonus?
This promotion is limited to one bonus per account and per customer. If an account is jointly owned and qualifies for the bonus, we consider the award as being granted to both owners and will satisfy the limit of one bonus per customer.
Can I participate in this promotion when I open my account at a Bank of Hawaii branch?
To participate in the Convenience checking promotion, your new account must be opened online.
How will I receive the cash bonus if I qualify for this promotion?
The cash bonus will be applied to your qualifying checking account as a statement credit. Your account must be in good standing and open at the time of credit.
Will I receive a 1099 if I participate in this promotion?
Yes, you will receive a 1099-INT for the value of the bonus.
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If you’d like to take advantage of our Online Checking Promotion, remember to fund your new checking account with an initial deposit of at least $500 and make your Qualifying Direct Deposits within 60 days of account opening.
If you’d like to skip this special offer, funding requirements may vary.
If you’re an existing Bank of Hawaii customer, please enter your online banking login (or your debit card and PIN) on the next screen.
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