FAQs

Great at handling your money, and your questions.

Who is Northern Bank Direct?

Northern Bank Direct is the online division of Northern Bank. Since 1960, Northern Bank has been the banking partner for businesses and consumers throughout New England.

Thanks to the unwavering dedication of the Northern Bank team and the loyalty of our customers, Northern Bank has been ranked the #1 Community Bank in New England for seven straight years. In 2015, we ranked #1 in the US.1 Northern Bank consistently maintains a 5-Star Safe & Sound rating with Bankrate.com.

If you are thinking about making Northern Bank Direct your bank, then spend a few minutes discovering all of the ways we make it easy for you to save more.

What do I need to open a Northern Bank Direct account?

You will need the following information for you and the joint owner, if there is one: home address, date of birth, driver’s license number, and social security number. You will also need to have the account number, routing number and name of the financial institution that you will be using to transfer funds to make your initial deposit.

What is Northern Bank Direct's routing number?

For direct deposits or other transfers, use the Northern Bank routing number: 011303097.

How secure is setting up an account online?

Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. To verify your identity, we will use citizenship, social security number, driver’s license and other information. We take security seriously and understand it is our responsibility to keep your information secure. Please read our Privacy Policy for an explanation on how we manage customer information.

We will use your email address to send you important information about your application, including confirmation that we have received your application and next steps required to open the account. Northern Bank will never ask you to send sensitive information such as account number, social security number or PIN in an email.

If you have any questions about security, please do not hesitate to contact us directly at 844-348-8996.

Will my deposits be insured?

Northern Bank Direct is the online division of Northern Bank. Northern Bank Direct deposits are considered held by Northern Bank and will be combined with other accounts held by the depositor at Northern Bank for purposes of FDIC deposit insurance. Northern Bank depositors, which includes Northern Bank Direct customers, are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000, for each account ownership category. For further information on our FDIC insurance, click on http://www.fdic.gov or read the FDIC’s comprehensive guide about deposit insurance, titled "Your Insured Deposits".

What are test deposits, and what do I need to do to verify them?

Test deposits will allow us to confirm the link between your Northern Bank Direct account and your other financial institution that you are making the initial deposit from. We will send two test deposits to your existing account. After you see these small amounts credited to your account, you will then return to our website and confirm the amounts by using the "finalize my account" link found at the top of the homepage. Once we confirm the correct amounts of the test deposits, we will transfer your opening deposit.

If you want to link another financial institution to your Northern Bank Direct account, even if it is the same as the one you made your opening deposit from, you will need to enroll in online banking and complete this process again.

What happens if I do not verify the test deposits?

If you do not verify the test deposits, we will not be able to open your account. Test deposits allow us to verify that the information on your existing account and linked financial institution are correct.

How much can I fund my account with?

The maximum amount you can initially fund your account with is $500,000. There is a minimum of $500.00 to open Certificates of Deposit and a $25.00 minimum to open a Money Market.

What are the options for receiving statements?

All statements will be sent.

Certificates of Deposit: You will receive an annual statement.

Money Market Accounts: You will receive a monthly statement. Statements will be sent to the primary address on your application. You may also enroll in online statements through our online banking service. You may also enroll in online banking to view your accounts at any time on your computer, tablet or phone.

Can I open a Northern Bank Direct account at a Northern Bank branch?

Northern Bank Direct accounts can only be opened online.

Can I visit my local Northern Bank branch to transact on this account?

Yes, you may visit any Northern Bank branch to conduct a transaction on a Northern Bank Direct account.

Are there any fees or minimums to open my Northern Bank Direct Money Market account?

There is a minimum of $25.00 to open a Northern Bank Direct money market account. There are no fees to open an account.

How is interest calculated?

Interest is compounded monthly and credited monthly. If you close your account before the interest is credited, you will not receive the accrued interest.

Can I transfer money between my Northern Bank Direct account and another bank?

Yes, for Money Market accounts only. Once you establish your online account and online banking service at Northern Bank Direct, you can set-up external transfers from other institutions using your Northern Bank Direct online banking account.

If you want to link another financial institution to your Northern Bank Direct account, even if it is the same as the one you made your opening deposit from, you will need to enroll in online banking, set up electronic transfers with the other financial institution and verify test deposits even if it is the same financial institution that the initial deposit was from.

What type of accounts can I link and can I link more than one?

There is no limit on the number of financial institutions located in the US that you may link to your Northern Bank Direct account. However, you cannot link to a credit card account or some types of brokerage or investment accounts.

How do I make withdrawals from my Money Market account?

You can make a withdrawal through online electronic funds transfer, check, wire, and ATM machine. You may make up to 6 transfers per month to another account with us or to a third party by means of a preauthorized or automatic transfer, including transfers pursuant to an overdraft plan, telephone or internet banking agreement, order or instruction, or by draft, check, ATM card or similar order made by you and payable to third parties. We charge $20 for each transaction over 6 per statement cycle. There are no limits on the number of deposits you can make. To find a nearby SUM-designated surcharge-free ATM, use the Northern Bank ATM locator.

How do I add money into my Northern Bank Direct Money Market account?

There are several ways you can add money to your account.

  1. Electronically transfer money from another bank or a Northern Bank account
  2. Send a wire transfer
  3. Direct deposit
  4. Mail checks to:
    Northern Bank Direct
    275 Mishawum Road
    Woburn, MA 01801
  5. Mobile deposit

Make sure checks are properly endorsed on the back with For Deposit Only and the signatures of all payees. Please don’t send cash.

What are the dollar limits for electronic transfers?

If you initiate the electronic transfer from your other financial institution, Northern Bank Direct does not impose a limit on the amount of the transfer. However, you should check with your other financial institution to see what their limits are.

If you initiate the electronic transfer from your Northern Bank Direct account, there is a maximum daily limit of $5,000.00 (or the available balance in your account, whichever is less) for Interbank (external) transfers per transaction; $5,000 in aggregate per day; and $25,000 in aggregate per calendar month. The maximum number of transfers is 10 per day and 100 transfers to your account per calendar month. Please refer to the e-Bank Agreement and Electronic Funds Transfer Disclosure.

What if I want to transfer more than the limits above?

You can write a check or initiate a wire transfer if your transaction exceeds the amounts listed above. You may also call us at 844-348-8996 to discuss the options available.

How long do online transfers take?

Between Northern Bank Direct accounts: Transfers between your Northern Bank Direct accounts take place immediately.

Between Northern Bank Direct and non-Northern Bank Direct accounts: Transfers from a Northern Bank Direct account to a non-Northern Bank Direct account usually take 3 business days.

How do I wire funds into my Northern Bank Direct account?

By using Northern Bank’s routing number, 011303097, instruct the sender to include your name and your Northern Bank Direct account number.

Can I wire funds out of my Northern Bank Direct account?

Yes. Wire transfer requests can be made at any Northern Bank branch. Otherwise, a wire transfer agreement would need to executed in order to submit a wire transfer request.

How do I set up Direct Deposits to my Northern Bank Direct account?

Provide your account number and Northern Bank’s routing number, 011303097, to your employer (limited to money market accounts).

What if I have more questions or would like to speak to a live person if I need more help?

If you have any questions or would like to speak to one of our employees, please contact us at 844-348-8996 EST Monday-Friday: 9:00 AM - 5:00 PM. You can also send us an email to nbdirect@nbtc.com and we will promptly respond to your inquiry.

How do I access my accounts using Mobile Banking?

You can access your Northern Bank Direct accounts using Northern Bank's iPhone®, iPad® or Android® phone apps. Available for download here:


What if I want to open more than one account?

Northern Bank Direct offers the option to open multiple accounts at the same time. Multiple account options include opening a CD with a Money Market account, two CDs and three CDs.

Can I designate a beneficiary?

Beneficiaries may not be added to the account during the account opening process. Once the account has been opened and funded, Northern Bank will mail out signature cards and disclosures to the address provided. You may then enter the beneficiary information on the signature card and return to Northern Bank at the address provided.

What are the early withdrawal penalties on CDs?

Early withdrawal penalties vary depending upon the CD term and are based on interest. Please reference the below for more details.

  • Term of 12 months to 35 months: 12-months interest
  • Term of 36 months to 47 months: 24-months interest
  • Term of 48 months or greater: 36-months interest
What type of accounts can be opened online with Northern Bank Direct?

Northern Bank Direct offers CDs and Money Market accounts, which must be opened online. Northern Bank Direct online account opening process is for sole or joint ownership accounts only. No Trusts, Estates, IRAs, UTMA, POA, or business accounts can be opened online with Northern Bank Direct.

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