Bank Offers are a great way to bring in some extra cash for doing very little. What you get varies on your location and what type of account you open.
I was able to bring in an extra $950, minus some pesky maintenance fees, through three online bank offers.
The Columbia Bank – Simple Checking Account: $150
To complete this offer, you’ll need to make 10 debit card purchases within 60 days of opening your account. Once these requirements are meet your account will be credited within 30 business days. This is one of the best checking account offers because you don’t need to use direct deposit. Also, there are no fees with this account, so practically anybody can get this offer.
SunTrust Bank – Signature Advantage Checking Account: $500
To complete this offer you’ll need to deposit at least $100 in the account, complete at least $2,000 worth of direct deposits within 60 days of opening the account, and complete at least 10 debit card purchases within 60 days of opening the account. Once you have completed these requirements, your account will be credited within 40 business days. Also, you will be charged a $25 per month maintenance fee unless you can keep at least $25,000 in your account. After you receive your bonus, you’ll be able to downgrade your account to a level that requires less of a balance.
TD Bank – TD Premier Checking Account: $300.00
To complete this offer, you’ll need a direct deposit of at least $2,500 within 60 days of opening the account. Once you have met this requirement, your account will be credited within 95 days of opening the account. If you’re able to maintain an account balance of at least $2,500, the $25 per month maintenance fee will be waived. After you receive your offer, you are able to downgrade to the conventional account which only requires you to maintain a $100 balance to waive the fee.
After maintenance fees, I got $850 before taxes. Overall, despite the work of reading the fine print, creating the accounts, and changing your direct deposit multiple times, the potential of a fairly decent profit is very high. I have managed to keep all the accounts in good standing and eventually made SunTrust my primary bank account. Keep in my mind, these are just a few different bank offers — there are plenty more out there to pursue. And you can potentially make more than I did if you do more research. Here’s a list to get you started, provided by Nerd Wallet: Best Bank Account Offers 2018.
Please make sure you read the fine print for these types of offers. You could miss a requirement/condition that will forfeit your bonus offer. If your account ends up closing, some banks will require you to pay them back the offer in a certain period of time. You’re typically safe from this within the first 180 days of your account being open and in good standing. Also, be aware that most banks will report these offers as income to the IRS, so you’ll be held responsible for any taxes that you may owe.
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