NetBank Bonuses Still Around
NetBank is still offering some tidy bonuses for new accounts, but it’s an exercise in following the fine print:
Up to $175 Offer – $75 for opening a checking account, $75 for opening a money market account, and up to a $25 gift card for opening a 1-year CD with at least $1,000.
Up to $250 Offer – $75 for opening a checking account, $75 for opening a money market account, and up to a $100 gift card for opening a 1-year CD with at least $15,000.
Be sure to note to the multitude of 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.
- 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
Reportedly a hard credit check is also performed. But hey, it’s $175.
By Jonathan Ping | Deals & Offers | 9/18/06, 12:10am
September 18th, 2006 at 1:34 am
Also be aware of their fees on their gift cards. $0.50 each time you call the 1-800 number to find out your balance. $2.00 each time you talk to a live person through that 1-800 number. I learned the hard way. Best thing to do is probably to use up $50 in one shot, so you don’t have to keep track of the balance yourself.
September 18th, 2006 at 3:00 pm
The second link points to the same place as the first.
Thanks for the information,
Scott
September 18th, 2006 at 4:18 pm
Would it be 3 hard credit checks, that is, one for each application? And does account closure fee also apply to redeeming a CD when it matures?
September 18th, 2006 at 4:59 pm
2000 readers? im envious. while i am on travel, i still try to read up…thanks for the airport link. ill looking into it when i need to save money!
September 18th, 2006 at 7:28 pm
I opened all 3 types of account in the early this year. I already checked my credit report and they did not pull any hard credit check on me.
September 20th, 2006 at 9:37 am
If you are signing up with NetBank to get the new account bonuses, it may still be worthwhile. But, their interest rates have really lagged the competition lately. I have some concerns about NetBank (the company). They’ve experienced some significant losses earlier this year, and stopped paying dividends on their stock (Nasdaq: NTBK). I started taking my money out of NetBank, as I don’t want to deal with the FDIC in the case that NetBank becomes insolvent.
September 21st, 2006 at 2:08 pm
Ok so the best way to do this then is to fund everything fully, then reduce to the minimums to avoid charges for the last 5 months, then try to weasel around the rediculous closing fee by pulling all your money out – right?
Is the “free” online billpay an optional feature (I assume yes – that you can opt out or simply never activate it)
So fund MM $1000, Checking $500, CD $1000
After 1 month & bonus award reduce checking to $50, reduce MM to $500. Put monek pulled out in higher earning account at another bank (EmigrantDirect, etc)
After 6 months drain Checking & MM
After 1 year decide whether to Cash out CD or to rollover.
(Maybe keep Checking open with $50 so that you can xfer CD funds then drain the account)
September 28th, 2006 at 1:43 pm
I’ve recently started the checking and MM accounts with NetBank. This was about 10 days ago. To this point, I’ve had no luck funding the account electronically. The website is really lousy, and customer service sent me a two replies that did not answer my questions. I’m not sure I’ll ever fund these accounts. The hassle I envision is not worth 150 bucks, minus all the fees that are bound to be charged.
February 25th, 2007 at 3:49 pm
I opened a NetBank checking and Money Market account and funded them on 11/28/2006 with $501 and $1001 (extra $1 each just to be sure). They offered a $75 account opening bonus on each account after 30 days. In early January I still had not been credited the bonus so I called customer service. Netbank C.S. said that I had met the requirements and the bonus would be paid within 30 days after meeting the requirements. So I should have been paid by 1/27/2007. After this date passed without being credited a bonus on either account I have called customer service each week with no luck. They keep saying they will get back to me with an answer, but never do. It looks like they do not want to pay out the bonus anymore.
April 12th, 2007 at 12:33 pm
I am writing on April 12 2007.
I have just sent Netbank an email (“Bank Mail”) telling them I need to close that account. We shall see how long the closing process takes.
NOWHERE on their site do they explain how to close an account. And NOWHERE on their site are you able to transfer money OUT of Netbank into another external bank’s account. It’s a one-way trip with these schmo’s. They make it very very difficult to close an account or to transfer money out of an account. They only pay 3% on their money market so they’re making 2% off your money every waking moment (U.S. treasuries I’m sure).
I shall report back how long it takes to actually close the account and get my $$.
May 11th, 2007 at 6:36 am
I wrote NetBank a bank mail Tuesday asking them to close my money market account and they did close it on Thursday. I had them shift all of my funds to my netvalue checking account with them, which happened immediately upon closure of the other account. Also, I found out by calling them that there no longer is a minimum $300 required to avoid fees on the netvalue checking account so I’m moving ALL of my money out to HSBC (HSBC has to “pull” it out). Finally I never saw the supposed $7.50 account closure fee (at least not yet) so I’m wondering if by “account” they mean your user account or basically ALL of your NetBank accounts. So now I have a free checking account and all of my money back (plus bonuses and very little interest).