It has been awhile since I last reported on a checking account bonus at Northwest Savings Bank. I’m glad to see the bank is again offering a bonus, and it’s a nice bonus for a free checking account. You can earn up to $200 on the checking account promotion. It requires direct deposit to receive the first $100. For the second $100, you’ll have to keep the account open for a year. Details of this offer are listed in the bank's promotions page as of 3/24/2014. The most important part of the small print is below:
Within 6 months of Account opening, two ACH Direct Deposits ("Deposit(s)") of $200 or more made by an employer or other outside source must be deposited into Account. Internal transfers between accounts or deposits made at a branch or ATM do not qualify as Deposit(s). First bonus of $100 will be posted to Account within 14 calendar days of the second Deposit. Eligibility to receive the first $100 bonus will expire 6 months from date Account is opened. Second bonus of $100 will be paid to Account within 14 calendar days after one year anniversary of Account being opened provided: (i) customer qualifies for first bonus; and, (ii) two Deposits were received within two months prior to one year anniversary of date Account was opened.
The bank has two MyNorthwest Checking Accounts. The non-interest one is free with no monthly service charges or minimum balance requirements. Online bill pay and mobile banking are free. The bank is part of the Freedom Alliance and Allpoint ATM networks so customers can use those ATMs without a fee.
Limited to Certain Areas of MD, NY, OH & PA
There's an online application link at the promotion page. However, on the first page of the application it states:
All residents of the United States that are within the Northwest market area are welcome to apply for an account.
Northwest Savings Bank branches are located in parts of Maryland, New York, Ohio and Pennsylvania. Some of the major cities with branches in the Northeast states include Baltimore, Buffalo, Rochester, Erie and Pittsburgh.
Northwest Savings Bank Overview
It’s a sizable bank with $7.90 billion in assets and 166 offices in Pennsylvania, Maryland, New York and Ohio. It has an overall health grade at DepositAccounts.com of a B+ with a Texas Ratio of 11.08% (above average). Please refer to our financial overview of Northwest Savings Bank for more details. The bank has been a FDIC member since 1939 (FDIC Certificate # 28178).