Here’s our updated list about Northwest Bank promotions, bonuses, and offers.
Update 4/8/24: There is now a $100 checking bonus with no direct deposit requirement with no end date.
About Northwest Bank Promotions
As a family-owned bank, Northwest Bank values the tradition of respecting their neighbor. Based in Spencer, Iowa, they are committed to ensuring the well-being of their customers as well as their employees.
I’ll review the Northwest Bank Promotions below.
Northwest Bank $100 Checking Bonus *No Direct Deposit Required*
- What you’ll get: $100 bonus
- Account Type: Checking Account
- Availability: IA, NE, MN, SD (Bank Locator)
- Direct Deposit Requirement: None
- Credit Inquiry: Soft Pull
- ChexSystem: Unknown
- Credit Card Funding: Unknown
- Monthly Fees: None
- Early Account Termination Fee: $50, 90 days
- Household Limit: None listed
(No Expiration Date)
Editor’s Note: Here’s an alternative link to the offer.
| BMO Smart Money Checking ($400 cash bonus*) | BMO Smart Advantage Checking ($400 cash bonus*) |
| Bank of America ($300 bonus offer) | Chase Total Checking® ($300 bonus) |
| KeyBank Key Smart Checking ($300 bonus) | SoFi Checking and Savings ($325 bonus) |
How To Earn Bonus
- Open a new Northwest Bank Checking account such as Compass Free, Compass Digital, Compass Cash, Compass Rewards and Compass Relationship.
- Meet with a Banker and Pick a minimum of 4 new products or services to add to your new checking account. Some examples include e-statements, a new debit card, new account alert, billpay, new enrollment in Zelle, newsletter, etc.
- $100 Cash Deposit: Not available with any other cash back offer.
- Cash incentive is only available when you meet with a Northwest Bank Personal Banker and select 4 new products or services from the available list.
- Northwest Bank qualifying checking account is required. Qualifying accounts include Compass Free, Compass Digital, Compass Cash, Compass Rewards and Compass Relationship.
- The $100 incentive received is required to be deposited into your Northwest Bank qualified checking account.
- If you received the $100 bonus offer as a result of opening a new checking account, see below details on minimum balance to open,
- Annual Percentage Yield (APY), and minimum requirements to acquire APY.
- Additional details available upon request.
Northwest Bank $200 Checking Bonus *Ames* (Expired)
Receive the $200 bonus with a new checking account at the new Ames Branch.
Northwest Bank is offering a $200 bonus when you open a new qualifying checking account at the new Ames Branch.
- What you’ll get: $200 bonus
- Account Type: Checking Account
- Availability: IA, NE, MN, SD
(No Expiration Listed)
| BMO Smart Money Checking ($400 cash bonus*) | KeyBank Checking ($300 bonus) |
| Chase Private Client ($3,000 Bonus) | HSBC Premier Checking (Up to $3,000 Cash Bonus), |
How To Earn Bonus
- Open a new Northwest Bank checking account today and RECEIVE A $100!
- Bundle your finances with great products and services and RECEIVE ANOTHER $100 just by banking with them!
- Initial deposit must be new money.
- Northwest Bank Compass Free Account not eligible.
- All other account requirements must be met. Contact a banker for more details.
- Northwest Bank checking account is required.
- A minimum opening balance of $10 is required to receive either cash bonus; bonus will be deposited into your Northwest Bank personal checking account within 7 business days of account opening.
- Not available with any other cashback offer.
Northwest Bank $200 Checking Bonus (Expired)
Receive the $200 bonus with a new checking account.
Northwest Bank is offering a $200 bonus when you open a new qualifying checking account.
- What you’ll get: $200 bonus
- Account Type: Checking Account
- Availability: IA, NE, MN, SD
(Expires August 14, 2020)
| BMO Smart Money Checking ($400 cash bonus*) | BMO Smart Advantage Checking ($400 cash bonus*) |
| Bank of America ($300 bonus offer) | Chase Total Checking® ($300 bonus) |
| KeyBank Key Smart Checking ($300 bonus) | SoFi Checking and Savings ($325 bonus) |
How To Earn Bonus
- A one-time $100 bonus is available for consumers who open a new Northwest Bank personal checking account with an initial deposit of $1,000 or more within 7 business days of account opening.
- The initial deposit must be new money.
- An additional $100 bonus is available when you meet with a Northwest Bank Personal Banker and select 4 new products or services from the available list.
- Northwest Bank checking account is required.
- A minimum opening balance of $10 is required to receive either cash bonus; bonus will be deposited into your Northwest Bank personal checking account within 7 business days of account opening.
- One bonus per qualifying account.
- Accounts must be opened on or before 8/14/2020.
- Not available with any other cashback offer.
How To Waive Monthly Fees
- Compass Rewards Account: None
- Compass Cash Account: None
- Compass Relationship Account: $10 monthly fee, waivable with $50,000 total consumer relationship
a combination of your personal deposit and loan accounts each statement cycle. - Compass Digital Account: None
- Compass Free Account: None
- Commercial Analysis: Varies based on use
- Commercial Analysis w/ Interest: Varies based on use
- Choice: $10.00 monthly fee, waived when daily balance of $2,500 is maintained in the account or when a combined balance of $25,000 in deposits and loans with Northwest Bank is maintained.
- Simple: $7.50 monthly fee, waived when daily balance of $500 is maintained in the account or when a combined balance of $10,000 in deposits and loans with Northwest Bank is maintained.
- Community: $7.50 monthly fee, waived when daily balance of $500 is maintained.
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Bottom Line
This deal at Northwest Bank is great because it is a soft pull meaning that it won’t hurt your credit score. I recommend opening any other account other than the Compass Relationship account to avoid paying any monthly service fees.
Your feedback is highly appreciated and makes our site even better! If you have more information about Northwest Bank please leave a comment below.
While they have a generous bonus, Northwest Bank doesn’t have great rates for CDs and Savings. You may want to check out our full list of Bank Rates and CD Rates.
*Compare Northwest Bank Promotions with other bank bonuses from banks like Citi, Huntington, HSBC, Chase, TD, Discover Bank, Aspiration, Axos Bank, PNC Bank, BMO Harris, SoFi, Fifth Third Bank, Bank of America, Wells Fargo, US Bank, and more!*
*Check back at this page for updated Northwest Bank promotions, bonuses and offers.
Opened the bazing account, no hard pull in my experience!