Update 7/18/26: Bonus is now $400 (was $160) so significantly better than before. Hat tip to reader Bockrr
Update 5/1/23: Extended until June 30 2023.
Update 2/27/23: Also available in NY, OH, IN
Update 2/6/23: Deal has been extended until 4/30/2023.
Offer at a glance
- Maximum bonus amount: $160
- Availability: NY, OH, IN, PA
- Direct deposit required: Yes, $1,000+ within a single statement cycle within the first three statement cycles
- Additional requirements: eStatements
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $25, 180 days
- Household limit: None listed
- Expiration date: December 31, 2026
1/31/2023
Contents
The Offer
- Northwest Bank is offering a $400 bonus when you open a new qualifying checking account and complete the following requirements:
- Use promo code GET400
- make direct deposits totaling $1,000 or more within a single statement cycle within the first 3 statement cycles from account opening
The Fine Print
- To qualify for the $400 checking bonus, you must open a Northwest Affinity Checking, Affinity Plus Checking or Affinity Premier Checking account using the promo code GET400 by 12/31/2026 and make direct deposits totaling $1,000 or more within a single statement cycle within the first 3 statement cycles from account opening.
- Account can be opened online or by bringing this email with the promo code to a financial center; promo code must be entered at account opening.
- A qualifying Direct Deposit is an Automated Clearing House (ACH) credit, which may include payroll, pension or government payments (such as Social Security).
- To receive the bonus, you must meet the deposit requirements and your checking account must be open at the time the bonus is paid out. After all qualifying activity requirement(s) have been fully completed and verified, the bonus will be deposited into your new account, typically within 30 days after the statement cycle in which you satisfy the requirement(s).
- Offer is not available to existing Northwest checking account customers or to those with a Northwest checking account that has been closed within the last 12 months.
- Northwest Bank reserves the right to limit each customer to one new account-related bonus per calendar year. Eligibility may be limited based on your account type and ownership role. Bonus is subject to IRS 1099-INT or, if you do not possess a Social Security number or Individual Taxpayer Identification number, the bonus will be reported on IRS form 1042-S.
- Employees of Northwest Bank, its affiliates and subsidiaries are not eligible for this offer.
- Cannot be combined with any other offer.
- Offer subject to change, including cancellation, at any time without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Affinity Checking has no monthly fees to worry about.
Early Account Termination Fee
$25 fee according to the fee schedule, 180 days.
Our Verdict
Need to know if this is a hard or soft pull to open.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
