iPod Shuffle or up $175 from NetBank
NetBank is currently offering a variety of bonuses for opening different types of accounts with them. The two that stand out are:
1) iPod 512mb Shuffle, for opening up either a Money Market account with a 3.36% introductory yield, or a 1 Year CD at 4.65% APY. Offer valid only for 1st-time customers, minimum opening deposit is $1,000 for each.
2) Up to $175 cash, for opening up a Checking, Money Market, and a 1-Year CD with them. Be sure to read and print out the fine print for both these offers. Several warnings, though.
In particular, pay attention to the many fees in their Fee Schedule, which include:
» Online Bill Payment Inactivity -$5.00 per month after 3 successive months of inactivity on accounts with average monthly balance less than $3,000.
» Checking Account Inactivity - $3.00 per month after 3 successive months of inactivity on accounts with an average monthly balance less than $3,000
» Early Closure - $25 for Checking or Money Market Account Closed Within 6 Months
» Dormant Checking Account - $5.00/month beginning 12 months after most recent activity
» Account closure - $7.50
Jeez, they even charge to close an account. The iPod offer for the 1-Year CD looks nice, I don’t think you’ll get dinged $7.50 for that since it really isn’t a checking or savings account. But beware, you’ll probably get a 1099 for the value of the iPod ($99) and have to pay income tax on that. If you feel you can jump through the hoops, this may be an offer to go for. Be sure to use the application links on the correct page, NetBank is a real stickler for that.
Finally, they are reported to do a hard credit pull when opening a new account, which affects your credit score. However, the value of this bonus may be worth it…
Credit goes to reader Brian, who saw it at Fatwallet.
Find more in Deals & Offers | 11/13/05, 4:57pm | Trackback
November 14th, 2005 at 4:26 am
A couple of months ago, i took my savings out of my local bank (under 1% interest!) and put in it Capital One online at 3.45%. It is very satisfying and also completely accessible for transfer to checking if needed.
November 15th, 2005 at 8:58 am
if they do hard credit pull how much score will go down any idea ?!!
November 15th, 2005 at 9:26 am
About 5 points. Maybe 10 max. This is only my best estimate based on my own experience.
November 16th, 2005 at 8:07 am
Thanks for the tip Jonathan (and Brian). I think I’m going to try for the shuffle.
November 30th, 2005 at 4:33 am
Another free iPod Shuffle offer posted on Investing Guide.
Charles Schwab Bank.
Neo
April 3rd, 2006 at 3:37 pm
NetBank’s latest Checking Offer
Now NetBank is offering $75 for opening a Checking account with $50 opening and $500 Min balance. Not sure if it’s worth it after reading their fees and the low interest rates:
SuperValue Checking Account
A $3.00 service fee is assessed for each monthly statement cycle for accounts with an average daily balance for the month of $2,500 or more. A $9.00 service fee is assessed for each monthly statement cycle for accounts with an average daily balance for the month of less than $2,500.