Offer at a glance
Maximum bonus amount: $1,250
Availability: Nationwide
Deposit required: $25,000+
Deposit length: 3 months
Hard/soft pull: Soft
ChexSystems: Yes
Credit card funding: None
Monthly fees: None
Early account termination fee: None
Household limit: One
Expiration date: None listed
The Offer
Northpointe Bank is offering a bonus of up to $1,250 when you open a new Ultimate Savings or Promotional Money Market account and maintain a qualifying balance for 3 months. Bonuses are as follows:
Deposit and maintain $25,000 – $50,000 and get a $350 bonus
Deposit and maintain $50,000 – $75,000 and get a $750 bonus
Deposit and maintain $75,000 – $100,000 and get a $1,000 bonus
Deposit and maintain $100,000+ and get a $1,250 bonus
The Fine Print
Cash bonus offer is available to all new and current Northpointe Bank customers who open and fund a new Promotional Ultimate Savings or Promotional Ultimate Money Market account (the “Account”) on or before June 30, 2023. Funds already on deposit with Northpointe Bank in any other account within the 60 days preceding the date that the new Account is opened may not be used to qualify for this offer.
To earn a cash bonus, you must have a “Qualifying Balance” (as shown in the chart below) in your Account at the end of the 30th calendar day after you open the Account, and you must continuously maintain a Qualifying Balance in your Account for the “Qualifying Period”, which is the three-month period beginning the calendar day after your Qualifying Balance is set. A month is defined as 30 calendar days. For example, if you open an Account on 6/1/2023, and make two deposits of $75,000 each on 6/5/2023 and 6/10/2023 and make no withdrawals/transfers, on 7/1/2023 your Qualifying Balance is set at $150,000. If you continuously maintain $150,000 in your Account through 9/29/2023, you will earn a cash bonus of $1,250.
If the Qualifying Balance fluctuates, the bonus tier will be based on the lowest dollar amount in the Account during the 3-month period after your Qualifying Balance was set. For example, if your balance on the 30th day is $150,000, the Maximum Bonus you could earn is $1,250. However, if your Balance decreases to $75,000 on day 45, the Maximum Bonus you can earn changes to $1,000. Only one bonus offer is available per Account. If the Account does not reach the Qualifying Balance by the end of the 30th calendar day after Account opening or if the Account balance decreases below $25,000 during the Qualifying Period, no cash bonus will be earned.
Within 30 days of the end of the Qualifying Period, Northpointe Bank will credit the Maximum Bonus you earned, if any, to your Account and the APY will adjust to our published rates being offered at that time. Current rates are 0.00% APY on balances of $0 to $99.99; 0.25% APY on balances of $100 to $4,999.99; 0.34% APY on balances of $5,000 to $24,999.99; 3.25% APY on balances of $25,000 to $3,000,000; and 0.30% APY on balances of $3,000.000.01 and above. The Account must remain open to receive the cash bonus. The bonus shall be considered taxable interest to the depositor. Offer is available once per Social Security Number (SSN) or Tax Identification Number. Not valid with any other offers or promotions. Northpointe Bank reserves the right to suspend, modify or revoke this offer at any time prior to expiration. Void where prohibited.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
These accounts have no monthly fees to worry about.
Early Account Termination Fee
There is no early account termination fee.
Our Verdict
If you have $25,000+ in the account you earn 3.25% APY before the bonus. If you tie up the funds for exactly 3 months (unlikely as there will be a few days either side of depositing/withdrawing money to be safe)
$350 bonus, extra 5.6% APY
$750 bonus, extra 6% APY
$1,000 bonus, extra 5.33% APY
$1,250 bonus, extra 5% APY
Good rates when you take into account the 3.25% APY as well but some people won’t want to juggle funds for a high rate for three months. We will add this to our list of the best bank account bonuses.
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