Deal has expired, view the best current checking bonuses by clicking here
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â Ballston, VA Branch
- Direct deposit required:Â Yes, at least three direct deposits of $500+ each
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems: Unknown
- Credit card funding:Â Up to $520
- Monthly fees:Â None
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â February 15th, 2020
Contents
The Offer
- Northwest Federal Credit Union is offering a bonus of $300 when you open a new checking account in branch at the new Ballston branch and complete the following requirements:
- Open your first Northwest Federal Checking account
- Sign up for eStatements
- Login to Online Banking
- Set up Direct Deposit with at least $500
- Use promo code B2020
The Fine Print
- Limited time offer available 1/15/2020 – 2/15/2020.
- To earn a $300 deposit into your checking account during the first 90 days after opening your first ever checking account with Northwest Federal you must: be 18 years of age or older, be in good standing, make a minimum of three direct deposits into the checking account with a minimum of $500 each deposit, sign up for e-Statements, and login to Online Banking at least once each month.
- Once all requirements are met and your checking account has been open for 90 days, you will receive your deposit within 45 days.
- Cannot be combined with other offers. Northwest Federal employees are not eligible to receive bonus. Use promo code B2020.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Choice checking has no monthly fees to worry about.
Early Account Termination Fee
There is no mention of an early account termination fee in the fee schedule.
Our Verdict
Saw this same bonus at all branches late last year. Pretty good bonus if you live near the Ballston branch I guess. I’ll add this to the best bank bonus page.
Hat tip to reader Jeff L
Useful posts regarding bank bonuses:
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- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
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- Complete List Of Ways To Close Bank Accounts At Each Bank
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Opened in branch on 2/7. Did actual employer DD of $501 every other week. Received $300 bonus 5/8, titled as “Deposit Ballston 2020”.
2/13/20 DP- at the Ballston Branch now. Tried to fund with Chase Visa. Charged as cash advance.
How does one CC fund for this account? I don’t see it anywhere. Do I need to go in branch?
The direct deposit only one time is fine
My real DDs are currently being taken up by HSBC, but I might try for this since Ballston is less than a mile up the road from my apartment. Since there are no fees and no minimums, the worst that happens is I just don’t get the bonus.
1008 North Glebe Road
Arlington, VA 22201
I wasn’t able to find on google maps. I went to their site to find the location. Trying to save a search for anyone.
Do you have a DP on credit card funding?
Not yet. I am going to the bank this week.
For the previous bonus CC funding was up to $520 if that helps.
My USAA CC didn’t work. The teller mentioned that my debit card would count as a cash advance? I got $40 from the ATM outside to put in the account.
“First ever checking account” – guess they will deny churning