Offer at a glance
Maximum bonus amount: $200 for person being referred, $50 for person referring
Availability: NY, OH, IN, PA
Direct deposit required: Yes, $1,000+
Additional requirements:10 debit card transactions
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: $25, 180 days
Household limit: None listed
Expiration date: None listed
The Offer
North West Bank is offering a referral bonus ($200 for the person being referred and $50 for the person referring) when the new user opens a new checking account and completes the following requirements:
Receive a $1000 direct deposit
Complete 10 debit card transactions
The Fine Print
The person making the referral (Referrer) will earn a $50 Visa® Virtual Reward for each individual referred (Referred Person) to Northwest Bank who registers for the offer, opens a new Northwest Bank personal checking account (Affinity, Affinity Plus or Affinity Premier), and completes the offer requirements within the time specified in the offer. To make a referral, the referrer must be an existing Northwest customer in good standing, register for the program and share the offer with their friends and family. A Referrer may earn up to $500, in Visa® Virtual Rewards, within a calendar year. Only one Referrer may receive a Visa® Virtual Reward for each Referred Person who fulfills the requirements.
To earn a $200 Visa® Virtual Reward, the Referred Person must register by following the link provided in the referral email or on social media, open a new Northwest Bank personal checking account (Affinity, Affinity Plus or Affinity Premier), and meet the following requirements within 60 days of account opening:
Make direct deposits totaling $1,000 or more AND
Complete 10 posted Northwest debit card transactions (POS, Mobile Wallet and ATM are eligible)
Account must remain open and be “in good standing” at the time the reward is issued.
A qualifying Direct Deposit is an Automated Clearing House (ACH) credit, which may include payroll, pension, or government payments (such as Social Security). You must open the new checking account within 180 days of registering for this offer using the shared referral link that was shared by the referring party. To receive the reward, your checking account must be open and in good standing. Offer is not available to existing Northwest Bank personal checking account customers or to those with a Northwest Bank personal 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. This reward is subject to tax reporting. Please consult your tax advisor. Reward is subject to IRS 1099-INT reporting. 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. Offer is non-transferable.
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
Better than the previous $160 bonus. Just need to know if it’s a hard or soft pull, feel free to share your referrals and experiences in the comments below.
Hat tip to reader Alex
Useful posts regarding bank bonuses:
A Beginners Guide To Bank Account Bonuses
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PSA: Don’t Call The Bank
Introduction To ChexSystems
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What Banks & Credit Unions Do/Don’t Pull ChexSystems?
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