With many financial institutions experiencing a decrease in profits, banks are vying for your business. This is good news for you, because instead of just offering standard perks like no fees, free checking, or a free pen when you sign up for an account, some banks are raising the stakes with cold hard cash, giveaways, and great interest-bearing products.
December is a good month for bank promotions from both big and small banks. Banks are giving away a lot of free cash to attract new customers and get them to open up accounts. The banks listed below have some pretty sweet deals that you should take advantage of if you are in the market for a new bank.
Don’t want to miss out? Here are the best bank promotions for the month of December.
Top Bank Account Promotions (December 2013)
1. Capital One 360 – $50 Bonus
Formerly known as ING Direct, Capital One 360 is continuing the $50 bonus promotion. Open a 360 checking account and make three debit card purchases or three Person2Person payments (or any combination of the two) within 45 days of opening your account. You’ll receive a $50 bonus, deposited into your account on day 50.
2. First Trade Union Bank – $100 Bonus
Open a new First Trade checking account between now and December 31, 2013 ($100 minimum opening deposit required). Set up direct deposit and First Trade will deposit $10 into your account for each of the next five months, as long as a qualifying direct deposit is received in each of those months.
Use First Trade’s new mobile app, FT Pay, at a participating LevelUp merchant, and if you’re eligible to receive a discount on goods or services, First Trade will match that discount, up to $25. Then open a First Trade high-yield savings account by June 30, 2014 ($10 minimum opening deposit required). Send your savings earned from the FT Pay app transactions to your savings account, and First Trade will also match the first $25.
3. Chase – $150 Bonus
Open up a new Chase Total Checking account and receive a $150 cash bonus. To qualify, you must deposit at least $100 into the account within ten days of opening and set up direct deposit within 60 days. Chase will then deposit your cash bonus within the next 10 business days. To open the account, enter in your email address here to receive a coupon. Then either take the coupon to a local Chase branch or apply for your account online. This offer expires on January 11, 2014.
4. Salem Five Bank – $100 Visa Gift Card
Open up a checking account with Salem Five Bank and you can receive a $100 Visa reward card by completing any one of the following three requirements: set up direct deposit and complete two deposits of more than $250, make six online bill payments of more than $25, or make 20 debit card transactions of more than $5. The requirement you choose must be met within 60 days of account opening. Once the requirement is met, you’ll receive your reward card with 4-6 weeks.
5. BankDirect – AAdvantage Miles
Open a BankDirect Mileage Checking Account and earn American Airlines AAdvantage miles. You’ll receive 1,000 miles just for opening an account, 5,000 miles for initiating direct deposit, 2,000 miles for using BankDirect’s bill pay service for one year, and 1,000 miles for referring a friend. There are other ways to earn miles as well, and some restrictions apply. Be sure to investigate the offer thoroughly for full program details.
6. Citizens Bank – $1,000 Bonus for College Savings
Citizens Bank is currently offering a $1,000 bonus for those who sign up for a CollegeSaver savings account, an easy, manageable savings plan that will help your meet your college savings needs. It is an interest bearing account, and if you open it before your child’s twelfth birthday and save the monthly minimum amount every year, you’ll receive a $1,000 bonus when your child turns 18. Opening an account earlier than when your child turns twelve will only increase the savings.
7. U.S. Bank – $100 Bonus
If you enroll in U.S. Bank’s S.T.A.R.T. savings program, you could earn up to $100 in bonuses. You would need to open both a Package Checking account ($50 minimum opening deposit) and a Package Money Market Savings account ($25 minimum opening deposit). Set up recurring transfers from the checking to the money market account, and when you reach $1,000, you’ll get a $50 Rewards Visa card. Keep your balance at $1,000 or more for one year, and you’ll receive another $50 card.
8. PNC Bank – $150 Bonus
This offer is good for residents of the following states: DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NJ, OH, PA, VA, and WA. Open a Virtual Wallet account at PNC bank and get a $150 cash bonus. Have at least $2,000 transferred into your account via direct deposit within the first 60 days and make at least one payment via online bill pay. Your bonus will be deposited into your account within the following 60 days. This offer is valid until January 31, 2014.
When choosing a bank, it’s important to find one that suits your needs – whether that’s favorable interest-bearing accounts, no fees, or free checking. It’s also a big bonus when you can get great perks along with good banking. Be on the lookout for and take advantage of freebies like cash and giveaways, and your banking experience will be all the more pleasurable.
Which bank promotions will you be taking advantage of this month?