Bonus has now expired and is no longer being offered. A full list of the best current bonuses can be found here.
Offer at a glance
- Maximum bonus amount: $103
- Availability: MN only?
- Direct deposit required: Yes, $300+ required for two consecutive months
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: You can fund up to $5,000 with a credit card, Visa & Mastercard are accepted
- Monthly fees: None
- Early account termination fee:
- Household limit: None listed
- Expiration date: September 30th, 2018
Contents
The Offer
- Open a new checking account with North Shore Bank of Commerce and receive a bonus of $103 when the following requirements are met:
- Set up a recurring deposit of at least $300 for two consecutive months
- If you’ve bank with North Shore Bank of Commerce for at least 12 months you can also refer friends and you both receive a bonus of $103 after the requirements above are met by the person being referred
The Fine Print
- A qualifying direct deposit is an electronic deposit received through the Automated Clearing House (ACH) system for the customer’s wages, governmental payments such as Social Security, retirement or investment income in a monthly amount of at least $300
- A new checking account customer is defined as someone who currently does not have a checking account with North Shore Bank. The reward is limited to only one checking account per new
checking account customer. - Anniversary Reward will be deposited into your checking account within 30 days after all eligibility requirements have been satisfied.
- Account must remain open to receive reward. Reward will be electronically deposited into the account.
- North Shore Bank will report reward as income on Form 1099 if required by applicable law.
- Reward recipient is responsible for any taxes. Consult your tax advisor.
- Opening deposit of at least $100.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
Our Verdict
Seems like a great deal considering you can also fund up to $5,000 with a credit card. Because of that we will be adding this to our list of the best bank account bonuses. Feel free to share your referral information in the comments below, along with your experiences with this bank.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
View Comments (27)
Just as a note, this bank sends out a 1099-MISC form for the sign-up bonus.
Has anybody who signed up for this gotten the bonus yet? Made two Fidelity deposits and working on two work DDs but nothing yet.
Haha, bonus posted today, 12/4.
DP: CIP does not count as a cash advance when funding
Nice to knockout the MSR for the CIP in one go. :D
Hmm. Coon Rapids did not work. But daughter lives in Otsego, just outside of twin cities and it works. It is just directly south of Elk River, so I am going to check out Joe's Bank of Elk River for her as well.
I wonder if I should try putting my address down as hers. Its not a problem if mail goes there, but my license won't match, if that is an issue. I would like to fund with US Bank Altitude. But would hope it doesn't trigger USB shut down or cash advance. I called USB and can't set my cash advance limit to 0.
Definitely doesn't seem Chex sensitive. I opened an account and was instantly approved with at least 12 accounts in the last 6 months.
You have to wait for them to send you your online ID in the mail, though I guess you could try calling and getting it sooner that way.
Anyone bank with these guys and has a referral, seems like a nice deal!
There’s no DPs on what counts as DD :( Any thoughts?
Serve is usually a good one to try. Ally or Alliant as well.
Anybody just put in Duluth zip at first and then real address on application page?
It looks like this only applies to northern MN as I applied with my ZIP code from Southern MN (Mankato area) and I received the message that it was not offered in my area.
Applied and got a letter in the mail with standard - "You're out of our service area". S. Mn address used. :(
Always wondered who all used these blogs. I'm from Mankato myself!
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