I recently pointed out that you can get $100 for just opening a Citibank Ultimate Savings account. The only catch is that you have to be a new customer of Citibank. Hopefully, you were able to take advantage of that offer. Here is another offer from Net Bank. You can get up to $250 for opening the following accounts.
- $75 for Checking of 2% APY
- $75 for Savings of 4.5% APY
- $100 for CD of 5.25% APY
Unlike the Citibank offer, there is a minimum deposit, and balance you must maintain. For the checking account the minimum balance of $500 must be maintained for 1 month. For the money market savings account, the minimum balance of $1,000 must be maintained for 1 month. With the CD, the minimum deposit is $5,000 for 6 months. Here is how to play this:
- Open checking account with $500 deposit, and open MMA with $1000 (wait for one month).
- After one month, draw checking account down to $10 and MMA to $500.01 (this is the minimum balances to avoid fees). You should get the $150 bonus after about one month after account opening. Call them if it doesn’t show up.
- Wait till 6 months from opening, withdraw all your money, then close all your accounts so you won’t get charged with any closing or low balance fees.
- After the CD matures in 6 months, withdraw the balance.
Similar to the Citibank offer, you have to be a new customer of Net Bank. Combined with the Citibank offer, that’s $350 in free money. Its more work than the Citibank offer, but $350 in a month is worth it. Its not like you have to dig ditches in 100 degree heat to get the money. ”Work” involves filling out an online application, and moving your money temporarily online. I have rental property that don’t cashflow $350 a month, and that’s a lot more work and risk. This is free money for 15 minutes online.
Another tip: Download this program-Roboform. Roboform is a program that keeps track of all your online passwords and persoanl information so it fills it out for you every time you enter a website requiring that information. It will save you a tremendous amount of time when you order anything online such as airline tickets, or any product online. When you fill out new account applications online, it fills out the form for you automatically. So, it only takes you only a few minutes to fill out several account applications, so there is no excuse not to get free money if it is offered.
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OK, I just opened an account at Netbank with Chrissy’s money. She had some money sitting in a Citibank checking account making zero interest so we decided to move it. Funny thing is that the only reason we have the Citibank was to get the free iPod mini they were giving away 2 years ago. And also, the reason why the Citibank is in her name is because the year earlier I opened and closed a Citibank account to get a free Sony DVD player which I’m still using today! Yep, got to take advantage of the freebies! Thanks for the tip.