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When my wife went to close her NorthOne business account last month, they told her that some exciting changes were coming. I wish we’d have taken that seriously. Over the weekend, I wrote about how NorthOne was offering a $50 bonus to those customers who update their information and accepting the changes to the banking agreement (which I did for my own account and I am now awaiting the $50 credit). Now they have sent an email today advising me of a promotion to get a $100 Amazon Gift Card when I top up my account with $100. This opportunity likely only applies to existing account holders and I imagine that most readers who signed up likely closed their accounts, but if you didn’t this is becoming the gift that keeps on giving.
The Deal
- Some NorthOne business cash management account holders are being offered a $100 Amazon gift card for loading their account with $100 or for updating their account details (if they did not do so previously) by February 19 at 11:59pm EST.
Key Terms
- Expires 2/19/21 at 11:59pm EST
- Offer will be awarded to you within 3-5 business days
Quick Thoughts
NorthOne offers a business cash management account. We wrote about the account back in November when Swagbucks briefly offered a $300 bonus for opening an account and depositing $50 (this is a good example of the type of deal I was writing about this morning when I said that in this hobby if it sounds good to be true it is probably time to jump on in). I had intended to close my NorthOne account because of the non-waivable $10 monthly fee, but then they didn’t charge a fee in the first month. They did charge $10 in December, so I asked to cancel in January before the next fee posted and they offered me two free months to keep the account, so I still have it. For some inexplicable reason, they only offered my wife one free month so she canceled.
If you dragged your heels on canceling, it is turning into a good decision between the $25 bonus they offered last November for Small Business Saturday (which required a single debit card purchase), the $50 bonus for updating your account info (if you received that promotion this past weekend) and now the $100 Amazon gift card for topping up the account with $100. This latest promotion may be highly targeted, though there are at least two versions. In my case, I had $0 in my account as I had emptied it before requesting to cancel (and I’m waiting on the $50 bonus from updating my account details). One might therefore assume it is being offered to those with very low balances.
On the other hand, I noted over the weekend that even though my wife’s account is closed, she is still receiving emails from NorthOne. She tried updating account details over the weekend since she had gotten the $50 offer for updating details but was unable to log in since her account is closed. She also received an email today advising her that she could get a $100 Amazon Gift Card for updating her account details by February 19th (no deposit requirement mentioned). So if you have a NorthOne account and you missed my post over the weekend, you may be able to get a $100 gift card for updating — check for today’s email. In my case, the subject line was “Mid-winter giveaway! $100 Amazon gift cards”. My wife’s subject line was, ” Update your details. Get a $100 Amazon gift card”.
This account probably isn’t worth getting right now because I don’t see any bonus other than the referral offer, which is only a $75 bonus (not worth it in my opinion for an account with a $10 monthly fee). However, these easy money offers they are handing out to entice people to keep their accounts make me inclined to believe that they may indeed be working on positive changes. I’m hopeful that they will look to make a splash when they switch banking partners on March 2nd. It may be worth keeping an eye out in case they offer something interesting.
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Does the money have to pay by 2/19 ?
Because of it does that’s quite a tight timeframe for most ACH transfers, especially if the account still needs to be linked.
That’s a good question. I had no idea. I saw that you can deposit via ATM and it should post faster. I looked it up and there were a couple of ATMs nearby, but I tried them last night and there was no option to deposit. Then I realized that the search tool has a box to select for ATMs that allow for a deposit. The closest of those was about 45 mi away. So I mobile deposited a check hoping that would clear fast enough to trigger the gift card. I don’t know whether or not it will work. I also tried to add North One to push from a couple of external accounts, but I’m thinking of that between the time to verify and the time to clear the ACH, that will likely be too slow. It’s not a very well thoughtfully put together promotion because of the necessary timelines. We’ll see if it works. I thought it was particularly ridiculous that you couldn’t set it up to pull from the North One side because it means setting up a push transfer for a bank that’s only going to be valid for like two weeks. The routing number will change when they change the backing bank on March 2nd. Like I said, they just don’t have their stuff together.
I’m in the same exact position.
But after some thought their “real” customers (the ones that actually use them regularly) would already have their accounts linked (with triel deposits)
Good point!
DP: check posted in less then 24HR
Targeted as well.
$0 account balance.
Got Nick’s version (I already updated my account for the $50 bonus)
I feel like NorthOne does not do a good job of being a bank. They charge $10 monthly fees that can’t be waive, so of all their customers leave, then bribe them to come back with $50 and $100 gifts. Maybe stop charging monthly fees or make it easy to waive the monthly fees and then you wouldn’t have to pay members to come back.
Agreed. At the moment, I’m not going to argue with them though :-D.