Get a $300 bonus for a new checking account with this offer from Northwest Bank of Rockford.
Northwest Bank of Rockford Offer Details
- What you’ll get: $300 bonus
- Where it’s available: IL
- How to earn it:
- Need 3 direct ACH deposits into the account.
- Sign up for e-statements.
- Each direct deposit must be at least $300.00 within 90 calendar days of account opening.
- Qualifying direct deposit is an ACH automatic electronic deposit of salary, pension, Social Security, or regular income.
- Transfers, mobile deposits, Person to Person payments, or branch/ATM deposits don’t qualify.
- When it expires: No expiration date listed
Waive The Monthly Fee
No monthly fees with this account.
READ MORE: GET TOP OFFERS FROM CHASE, AXOS, AND BMO.
Fine Print
- Eligibility Requirements:
- Offer is for new consumer checking customers only.
- Existing Northwest Bank customers with a loan, savings account, or business checking account are eligible.
- Not eligible if:
- Current Northwest Bank of Rockford customer.
- Already have a consumer checking account with the bank.
- Minimum account opening amount ranges from $25 to $100 depending on the account type.
- Each direct deposit must be at least $300.00 within 90 calendar days of account opening.
- If the 90th calendar day falls on a weekend or holiday, the next business day is used for qualification.
- If the account is closed within 90 days, any earned bonus may be deducted, and an account closing fee may apply.
- Closing the account forfeits any unearned bonus.
- Bonus paid 30 days after meeting the 90-day requirements, deposited into the new checking account.
- Paid on the first account opened if multiple accounts opened during the promotion.
- IRS 1099 form may be issued; responsible for reporting and paying taxes.
- Additional Terms and Conditions:
- Offer may change or discontinue without notice.
- Geographic restrictions may apply.
- HSA accounts not eligible for the bonus.
- Account opening subject to approval.
READ MORE: SEE THESE CASH BACK SHOPPING OFFERS AND PROMOTIONS FOR BONUS CASH AND REWARDS
My Impression Of This Offer
This offer seems pretty straightforward and enticing if you’re a new consumer checking customer or an existing Northwest Bank customer with certain accounts. I like that they’re offering a $300 bonus, but there are some requirements to meet. Getting three direct ACH deposits of at least $300 each and signing up for e-statements within 90 days of opening the account might take a bit of effort, but the payoff is worth considering.
The fact that the bonus is paid within 30 days after meeting the requirements is a plus, and they’re clear about the types of deposits that qualify. Overall, it’s a tempting offer,
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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