Bank Bonus Offers

CIBC Bank Agility Online Savings Account:

  • Open new account
  • Fund with $25k/$50k within 15 days of opening
  • Maintain balance for 120 days
  • Receive $200/$400 (within 60 days but balance can be reduced to nothing, or close to nothing after qualifying)
  • Offer expires March 16
  • Savings account yield is 1.85%


https://tinyurl.com/r3tgr8w
 
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Again be careful with Cit Bank bonus terms.
Here is a statement from my enrollment email.
"Customer must maintain the required minimum balance for 30 calendar days (the “Review Period”) after the end of the Funding Period."
 
MJ said:
Again be careful with Cit Bank bonus terms.
Here is a statement from my enrollment email.
"Customer must maintain the required minimum balance for 30 calendar days (the “Review Period”) after the end of the Funding Period."
Click to expand...

You may be confusing "funding period" and "qualification period". The "funding period" is the 15 day period after you open the account or apply for the promo in an existing account, during which you make your deposit. The 30 days is the qualification/review period for your promo where you need to maintain the balance. You have an existing account, 30 days (45 total) is an extremely short qualification period. For the new account it's 90 days (105 total). There's nothing underhanded or shady here.

https://cit.com/cit-bank/savings-builder-account-bonus-spring/

Maintain the minimum balance requirement for 30 calendar days following the end of the 15-day Funding Period to be eligible for the bonus.
Click to expand...
 
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Simple lowers rate to 1.75% - not unexpected.

We have a quick update on your Protected Goals Account. As of today:
•Balances of $10,000 and over will earn 1.75% Annual Percentage Yield (instead of the previous 1.90% APY)
•Balances under $10,000 will continue to earn 1.75%—no changes there.
Click to expand...
 
Just received the $1,000 bonus from Chase exactly 90 days after transferring $75,000 to their checking and self directed investment account.

Thanks again for the tip!
 
For those in Iberiabank operating region (Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York):

Iberiabank Statement Savings Account:

  • Request Emailed Promo Code on web page
  • Open new account online with Promo Code
  • Maintain balance of $15,000 for 90 days
  • Collect $150
  • Savings account rate varies by location


https://tinyurl.com/wheprud
 
For those in Seacoast Bank operating region (Florida, Port St. Lucie area):

  • Open a new Seacoast Savings account
  • Deposit $15,000 within 10 days
  • Maintain $15,000 balance for 90 days
  • Collect $150
  • Savings account rate is 0.01% for under $100,000
  • Must go in to branch and bring webpage printout to open account

https://www.seacoastbank.com/switchtoday-0
 
I don't know if there are any residency restrictions with this one, but may try to open an account later and find out:

Kentucky Bank Smart eAccount (checking):
  • Open new account online with $25 minimum by 4/30/2020
  • No minimum balance to maintain
  • Get $100 within 90 business days

This one is too easy and really is free money.

Now, note, this account does have a $4 monthly fee. However, they offer discounts (up to the $4 monthly) against that:
  • Monthly direct deposit refund = $2.00
  • eStatement refund = $2.00
  • Student (under age 23) refund = $2.00
  • Military Refund (active & veteran) = $4 refund

So, even if you only qualify for the $2 eStatement refund, net is $2/month and you get your $100 in a few months, can close, and have made $90+ for a tiny $25 deposit.

https://www.kybank.com/get100/
 
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Sojourner said:
I'm thinking of doing the Capital One 360 Performance Savings bonus offer. It pays $1,000 if you open a new savings account and put in $150k for 90 days. Since it's a savings account paying 1.7%, this works out to an APY of 4.4% over 90 days. Seems like an easy way to get a really high yield on cash that would otherwise just be sitting in my Vanguard prime MM funds and another online savings account. Any downsides to this particular bonus offer that I might not be aware of? Are there any hidden fees, like a "low balance" monthly fee if I were to withdraw the $150k after 90 days?
Click to expand...

Reporting back on this with the details of my experience. I did put $150k into a new Capital One 360 savings account at the end of December, and I noticed that the $1,000 bonus hit my account during the first week of April. The fine print had said the bonus could take up to 60 days after the initial 90 day window, but in reality it took only about 10 days. Thumbs up for Cap One! :)
 
Sojourner said:
Reporting back on this with the details of my experience. I did put $150k into a new Capital One 360 savings account at the end of December, and I noticed that the $1,000 bonus hit my account during the first week of April. The fine print had said the bonus could take up to 60 days after the initial 90 day window, but in reality it took only about 10 days. Thumbs up for Cap One! :)
Click to expand...

Yes, I remember Capital One was very good on their terms/payment.
 
I just opened a new checking account with Citizens Bank - $300 Bonus for making a direct deposit of $500 within 60 days. doctorofcredit.com indicates a number of banks where ACH push in to Citizens counts as direct deposit (Ally, Chase, Fidelity among them). I did it for DD as a student checking account to avoid all fees and any other requirements to have no fees.

  • Valid in CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT
  • Follow it up with $15,000 to a new savings account and get an additional $200. You can also do the $15,000 savings for $200 without the checking account
  • Do both checking and savings and receive an additional $100 bonus for $600 total
  • Only valid for one bonus per household
  • Good through June 11

https://www.citizensbank.com/promotion/checking/cash-offer-600e.aspx
 
njhowie said:
If you live in Fulton Bank's service area (Pennsylvania, New Jersey, Maryland, Delaware, Virginia) they currently have a $200 offer with their Simply Checking Account.

Either:
1. Set up recurring direct deposit of $250 or more

OR

2. Make at least 15 debit card purchases within 60 days

Since we don't do direct deposit offers, I'm doing #2. Will just make 15 cheap purchases of individual items at the supermarket or Amazon.
.
.
.
Fulton Bank | $200 bonus
Click to expand...

I completed the 15 small debit card transactions mostly $5 to $10 each at gas stations and supermarkets before the end of March, and the bonus was credited immediately after.
 
Are there any bank bonus offers for banks that pay decent interest? I have $150K at Fidelity in a MM that is down to .5%. I might move it out if I can find something decent. I might reopen my Ally account.
 
PatrickA5 said:
Are there any bank bonus offers for banks that pay decent interest? I have $150K at Fidelity in a MM that is down to .5%. I might move it out if I can find something decent. I might reopen my Ally account.
Click to expand...

Most savings accounts are currently just above/below 1.5%. Similar to the MM accounts, they will likely continue to trend lower. However, unlike the MM accounts, they will be adjusted less frequently, and not with the big steps lower. Notwithstanding, 12 months from now, I suspect all MM and savings accounts will be well below 0.5%. That being the case, look for the saving account which offers the best online experience and ease of use. I'd recommend Marcus or Ally currently at 1.55% and 1.5% respectively. I'd suggest Ally. As you probably know from your prior Ally account, they routinely offer CD specials, particularly their no-penalty CDs, and it is just a couple clicks to move money between accounts and CDs.

These don't currently have any bonus offers - Marcus just had one that ended. With $150k, even if you find a bonus offer, generally they won't apply for that much money, or if they do, the return likely is lower on a dollar for dollar basis than you could get by doing multiple smaller bonus offers.

I keep my March 2010 T. Rowe Price Cash Reserves statement pinned up on the wall in front of my monitor to always remind me of what "30-Day Yield 0.01%" looks like - we're very likely going to be there again.
 
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I just moved 100k to the Ally No penalty CD from the Fidelity MM after I saw how far and quick Fidelity's rates fell and wanted to lock in the Ally rate while still having easy access if needed. For me, Ally has been easy to work with online and by phone for several years.
 
MandM said:
I just moved 100k to the Ally No penalty CD from the Fidelity MM after I saw how far and quick Fidelity's rates fell and wanted to lock in the Ally rate while still having easy access if needed. For me, Ally has been easy to work with online and by phone for several years.
Click to expand...

The last of our Ally 14-month 2.85% CDs matures on Monday :'(
 
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Has anyone used Ally Bank for a Trust account?
My parents' trust a/c is a 5 year CD ladder at Fidelity.
The 1st leg matured and it is earning 0.48% vs. the 1.50% in Ally.
 
Dtail, I have not used it for a trust but when you set up the new account in Ally online it asks if individual, joint, or trust so it seems like it would be simple to do and you can link the Fidelity (UMB Bank) account.
 
MandM said:
Dtail, I have not used it for a trust but when you set up the new account in Ally online it asks if individual, joint, or trust so it seems like it would be simple to do and you can link the Fidelity (UMB Bank) account.
Click to expand...

ok thanks.
 
Just noticed today that Capitol One is offering another sizable bonus, but this time it's for existing customers with 360 Performance Savings accounts. From the email they sent me:

In this time of uncertainty, one thing is for sure—your money is in a safe place in your 360 Performance Savings account with FDIC insurance. And right now, we want to help you save even more with a special bonus offer.

Here’s how it works:

1) Earn a $450 bonus when you deposit $50,000 or more, or earn $150 when you deposit $20,000–$49,999.99, of new money into your 360 Performance Savings account ending in 5934 by May 31, 2020.

2) Keep your deposit in your account until August 29, 2020.

3) Bring on the bonus—and use this extra cash for whatever you decide.
Click to expand...

I just setup a $50k transfer from my Ally savings account to my Cap One 360, so I'm looking forward to getting the $450 bonus. Including the standard 1.5% interest rate, this is equivalent to an APY of 5.15% (assuming the funds are transferred just before the May 31 deadline).
 
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