[NE, IA, SD, MN] Northwest Bank $100 Checking & $50 Savings Bonus - Direct Deposit Not Required

Offer at a glance

Maximum bonus amount: $100 for checking & $50 for savings
Availability: Nebraska (Cass, Dakota, Dodge, Douglas, Lancaster, Sarpy, Saunders, Washington), Iowa, South Dakota and Minnesota (Nobles & Jackson counties only) only
Direct deposit required: Optional
Additional requirements: Two bill pays to two different billers or direct deposit of $250+
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: Bonus forfeited if closed within 90 days
Household limit: None listed
Expiration date: July 28th, 2017

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
4 Our Verdict

The Offer

Direct link to offer

Northwest Bank is offering two bonuses:
- $100 when you open a new checking account (Northwest Bank BaZing, Platinum, Compass Rewards or Private Banking) with internet banking and set up a direct deposit ($250 minimum must be processed within 45 days) or automatic payments (must establish two automatic deposits to two different payees within 45 days of account opening)
- $50 when you open a new savings account with a first deposit of $500 or more. Must be opened at the same time as checking bonus

The Fine Print

. A one-time $100 cash deposit is available for new account holders who open a Northwest Bank BaZing, Platinum, Compass Rewards or Private Banking (where available) checking account with Direct Deposit (i.e. payroll, Social Security, pension) of $250 or more processed within 45 days of account opening; or establish two automatic payments to two different payees within 45 days of account opening.
Enrollment in Northwest Bank’s Internet Banking at account opening is also required.
New account holders must have not held a checking relationship with Northwest Bank within the last 6 months.
An Early Account Closing Fee of $100 is specific to the Love at First Swipe Checking Account Promotion and will be applied to your account if closed within 90 days of account opening.
A one-time $50 cash deposit is available for new accountholders who open a Northwest Bank savings account in conjunction with and at the same time as the Love at First Swipe Checking Account Promotion.
$500 minimum opening balance.
An Early Account Closing Fee of $50 is specific to the Love at First Swipe Savings Account Promotion and will be applied to your account if closed within 90 days of account opening. 1&2.
All other account requirements must be met. $100/$50 will be deposited within 30 days once all account requirements have been met
. Accounts must be opened on or before 7/28/2017. 3. Transaction fees apply. Member FDIC.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Easiest account to keep fee free is BaZing checking, $7 monthly fee down to $6 with e-statements, and then each swipe of your debit card per month gets it down another $.20. You need to keep the accounts open for 90 days or you will forfeit the bonus.

Our Verdict

Always good to see a bonus with no direct deposit requirement. It’s not 100% clear if you can open online or not as when you click the apply now button it just takes you through their regular application process. As always please share your data points in the comments below. I’ll be adding this to our best checking bonus page.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

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