Anybody think the $100 offer to switch to from another bank to Northwest checking is a smart thing to do ? Sure seems like a lot of money to gain customers to me, but what do I know maybe taking a short term hit to gain new customers that will result in a long term gain is the way to go. What do you banking experts think ?
With our most recent bank statement we received four referral forms for referring new customers to Northwest bank. The new customer gets $100 and the referral person gets $50 or a total of $150 now for every new customer. Sure looks a little expense to me. !
NWBI has been "mining gold" for a long time and has been providing both good growth and dividends since its incorporation. The $100 incentive to new customers and $50 to those that recommend new customers isn't a shot in the dark. The concept has been tried in test markets and has proven to be profitable.