Deal has ended, view more bank account bonuses by clicking here.
Update 12/5/23: No end date listed anymore.
Update 11/23/23: Deal is back and valid until 11/30/23.
Update 6/24/20: Deal is back and valid until July 15th, 2020. Hat tip to Econ0mist
Offer at a glance
- Maximum bonus amount: $400
- Availability: VA, MD
- Direct deposit required: Yes, at least three direct deposits of $500+ each
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Up to $520
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date:
December 31st, 2019July 15th, 2020
Contents
The Offer
- Northwest Federal Credit Union is offering a bonus of $300 when you open a new checking account in branch and complete the following requirements:
- Make a minimum deposit of at least $50* in ACH or direct deposits per month for three months
The Fine Print
- Limited time offer available 11/1/2023 – 11/30/2023.
- To earn a $400 deposit into your checking account during the first 90 days after opening your first ever consumer checking account with Northwest Federal, you must: be 18 years of age or older, be in good standing, and make a minimum of $500 in direct deposits or ACH deposits into the checking account each month for three months. If all requirements are met and once your checking account has been open for 90 days, you will receive your deposit into the checking account within 30 days. Cannot be combined with other offers. APY = Annual Percentage Yield. Elite Checking has an APY of .07% if $1,000 or more is deposited each month, and Kasasa Cash® Checking has an APY ranging from 4.00%-1.38% depending on the account balance (assumed balance of $100,000 used for example). Kasasa Cash® Checking requires $100 minimum deposit to open and qualifications must be met to earn dividends. Choice Checking and Kasasa Cash Back® Checking also eligible for bonus. Fees may reduce earnings on accounts. Rate may change after the account is opened. Member responsible for possible tax implications. Rates current as of 10/31/2023 and are subject to change without notice.
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
Nice big bonus, now that we know it’s a soft pull to open the account we will be adding this to our list of the best checking bonuses. If anybody goes for this bonus, share your experiences in the comments below.
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
Post history:
- Update 2: No longer in branch only, might be available to people outside of VA & MD but YMMV.
- Update 11/9/19: Bonus is back and valid until December 31st, 2019
- Update 10/20/18: Reposting as it’s confirmed to be a soft pull.
Opened 11/28, 3x Ally push worked for me, payout on 3/25.
Bonus Posted 3/25, opened last week of Nov 2023.
bonus posted 03/25/24 with real employer DDs, account opened in Nov end but actual account is opened in 04 Dec 2024 because of extra information needed from credit union to open account.
got mine on 03/25. made account Dec 8 and made 2 deposits per month for 4 months
P1 & P2 joined first week in Dec – did ACH pushes in Dec, Jan, Feb, March. Both bonuses hit Tuesday (03/26) for $400 each.
Opened in Dec. Did ACH deposits in Dec, Jan, Feb, March. 400 bonus deposited today.
Well poop.
P1 opened 11/30/23, $500 ACH from Ally on 12/7/23, 1/2/24, 2/2/24.
No bonus
P2 opened 12/18/23, $500 ACH from Ally on 1/2/24,2/2/24,3/1/24
No bonus
Same here. p1 and p2 no go on the bonus as of now.
p1 opened 12/8/24 US bank 501.23$ push deposits —->12/14/23, 1/10/24, 2/6/24, 3/12/24
p2 opened 12/8/24 Us bank 501.23$ push deposits—-> 12/14/23, 1/11/24, 2/624, 3/12/24
p2 did a little recon and messaged Northwest, CSR stated that requirements have been met and that to check back in about mid April time frame. P2 really didnt make it about the bonus, but kind of wiggled there way in there….” Oh yeah,I was just wondering kind of approach”
Thanks, fingers crossed!
Looks like it’ll credit on the 120th day of account opening, which would be like 3/30 or 4/1 or thereabouts. Odd that everyone else seemed to get on the 25th, but whatever.
Nice, I’ll keep a lookout.
Update from Northwest: Per the promotion disclosure, once the deposits are met and your account has been opened for 90 days you will receive the deposit within 30 days. It hasn’t reached the 120th day yet. That would be 4/6. If you haven’t received the deposit by that date please reach back out to us and we can look into it for you. Please let us know if you have any questions.
400 Bonus posted on 3/25. Account opened in Nov, approved early December.
Dang. No bonus yet. Opened 12/4. Pushes from Fidelity CMA $500+ each time 12/26, 1/4, 1/31, 2/2 of $301 and 2/6 of $201. I guess I will push another $500 today 3/26.
Opened end of November, $400 SUB posted this week. Three ACH transfers from another account. Will leave account open for a while, as there are no fees to worry about. Super easy and smooth! Thank you.