[Expired] [NY, NJ] Northfield Bank $350 Checking Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Update 1/13/19: Reposting as it’s been confirmed to be a soft pull (at least in branch) and the bonus is still active.

Offer at a glance

• Maximum bonus amount: $350
• Availability: In branch only, all branches are in NY & NJ [Branch locations]
• Direct deposit required: Yes, recurring $500+
• Additional requirements: Maintain average balance of $500+, make 10 debit card transactions per month
• Hard/soft pull: Soft pull (one old report of hard, maybe it’s soft in branch and hard online)
• ChexSystems: Unknown
• Credit card funding: ACH funding only
• Monthly fees:
• Early account termination fee:
• Household limit: One
• Expiration date: None listed

The Offer

No direct link, in branch only

• Northfield Bank is offering a bonus of $350 when you open a new eligible checking account and complete the following requirements within 90 days of account opening:
  • Maintain average balance of $500+
  • Receive a monthly recurring direct deposit of at least $500+
  • Perform 10 point of sale debit card transactions per month

The Fine Print

• Eligible checking accounts are MyChecking, MyChecking 60+ or MyChecking Student
• Must not have an existing or prior NorthField Checking account
• Qualifying direct deposits are recurring electronic deposits of your paycheck, pension or government benefits.
• Bonus will post within 30 business days following the end of the 90 day period
• Account must remain open, active and in good standing and in the same product type during the qualifying period to receive the bonus
• Offer is effective as of 07/06/18 and may be withdrawn at any time.
• Once bonus per household
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

MyChoice checking has a monthly fee of $8. This is waived if you do any of the following:

• Maintain a $500 average monthly balance OR
• have a monthly direct deposit totaling $500 or more OR
• perform 10 debit card transactions during statement cycle.

Early Account Termination Fee

I wasn’t able to find any mention of an early account termination fee in the fee schedule.

Our Verdict

You might know of Northfield Bank as they have a 2.25% APY basic savings account (best current rate). Unfortunately they do a hard pull to open a new account, so even with this $350 bonus it won’t be worth it for a lot of people. Keep in mind bank bonuses are taxable. Because of the hard pull I won’t be adding it to the best checking bonuses for now. I’d be interested to know what threshold a bank bonus with a hard pull would need to hit for you to be interested?

Big thanks to reader, Joseph P who let us know. Learn how to find bonuses and contribute to the site here.

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