Earn $200 With Northwest Savings Bank Checking Account Bonus

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Availability: Market area covers portions of Maryland, New York, Ohio, and Pennsylvania

Over the past few years, I have written about Northwest Savings Bank’s recurring checking account bonus. Good news – the MyNorthwest Checking account bonus is back and you can earn up to $200.

The $200 MyNorthwest Checking account bonus is actually two $100 bonuses, with the first $100 associated with direct deposit and the second $100 paid after the account has been opened for a year. The MyNorthwest Checking account has no minimum balance requirements and has no monthly service charge.

MyNorthwest Checking Bonus Requirements

  • Within 6 months of Account opening, two ACH Direct Deposits of $200 or more must be deposited into the MyNorthwest checking account by an employer or other outside source.
  • First $100 bonus will be posted within 14 calendar days of the second Direct Deposit.
  • Second $100 bonus will be paid within 14 calendar days after the one-year anniversary of the MyNorthwest checking account being opened, if 1) the first bonus was paid, and 2) two Direct Deposits were received within two months prior to the one-year anniversary date.

Limitations

  • Customers who have had an open checking account within six months of opening a new MyNorthwest Checking account are not eligible for the bonus.
  • Limit of one $200 bonus per account.
  • Employees of Northwest Savings Bank and affiliates are not eligible for this promotion.

Availability

Headquartered in Warren, Pennsylvania, Northwest Savings Bank’s market area covers portions of Maryland, New York, Ohio, and Pennsylvania, stretching from the Lake Erie coastline, through western and central Pennsylvania, to the Baltimore area.

Opening a MyNorthwest Checking account can be done online or in person at any of 165 branches located in Maryland (4), New York (19), Ohio (4), and Pennsylvania (138).

As stated on the online application,

All residents of the United States that are within the Northwest market area are welcome to apply for an account.

Bank Overview

Northwest Savings Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 8.59% (excellent), based on December 31, 2014 data. Northwest Savings Bank has an excellent capitalization level of 14.32%, a result of holding $7.8 Billion in assets, with $1.12 Billion in equity. Please refer to our financial overview of Northwest Savings Bank for more details.

Northwest Savings Bank (FDIC Certificate # 28178) was established in 1896 as the Northwest Mutual Savings Association. For 87 years, the Bank concentrated its market area in northwest Pennsylvania, but starting in 1983, began an aggressive expansion that led to the acquisition of 20 banks in 26 years. Today, Northwest Savings Bank is the 7th largest bank in Pennsylvania and was included in Forbes 100 Most Trustworthy Companies in America (2009).

Other Bank Promotions and Bonuses

Not eligible for the Northwest Savings Bank’s checking bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.

Comments
Anonymous
Anonymous   |     |   Comment #1
I just finished up this deal from last year.  If you follow their rules, the bank will make both bonus payments timely.  It's a good bank and the $200 bonus I received (actually two payments of $100 each) was not bad either.

The only possible downside would come if you forget about the deal, because of the passage of time, and lose out on your second $100 payment because you fail to meet the terms of the deal.  But if you remember and follow the banks terms, they will pay you the second $100 as promised.
NYCDoug
NYCDoug   |     |   Comment #3
Three Questions:
(1) Available to NYC residents?
(2) Do ACH transfers you initiate at another bank count for your "two ACH Direct Deposits of $200 or more made by an employer or other outside source" . . . ?
(3) What about the six steps they list? (Especially #6): https://www.northwestsavingsbank.com/images/MyNorthwestSteps.jpg
Anonymous
Anonymous   |     |   Comment #4
When you apply on-line they will screen your zip code first thing.  If your zip code is not within their service territory they will deny opportunity to continue the application.  You need a zip which is close enough to one of their branches to where you logically could be a walk-in customer.  I don't know the exact distance they use as a screening criteria . . might be 50 miles (a guess).  But their branch network covers a rather broad region of NW-NC PA, so many people are eligible for this deal.

Yes, ACH transfers you initiate at another bank do count.  At least they counted during last year's iteration of this deal.  You never know, they might have tightened up.  It's best to ask the bank.

As for the six steps you mention, all of them not just #6, none of those steps bears any relationship to this deal.  They are not part of the terms of this deal, not #6 and not any of the others.  Those steps are merely suggestions for new customers, and they do not impact this deal in any way.
CapitalClimate
CapitalClimate   |     |   Comment #6
My zip code is 25 miles from the nearest branch, and it passed the initial application test (have not completed it).
Anonymous
Anonymous   |     |   Comment #7
In the last round of this promotion, zip codes in Montgomery County, Maryland were NOT close enough to the Baltimore branches to be within the market area. Just FYI.
Anonymous
Anonymous   |     |   Comment #8
FWIW:

At the commencement of last year's deal, the bank was having a HUGE problem with its eligibility determination mechanism, which uses zip codes.  I know this because I had to wait a couple of weeks before I could apply, and I live within 20 miles of a branch.  I telephoned the bank and they went to work on the problem, qualifying a great many more zip codes than initially had been the case.

However, given the magnitude of the dilemma this situation presented the bank last year, it would not surprise me if problems remain.  Hence, this advise: 

If you live close to a branch, and feel free to define "close" any way you wish, and if you want to do this deal, it would be worth your while at least to telephone the bank and discuss your situation.  As an alternative, go into your branch and ask what's going on.  This approach worked for me, albeit after a two week wait, and it might work for others.
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