As the economy recovers and banks are taken off life support, in the good way, financial institutions are becoming more aggressive with their promotional offers. The days of toasters and coffee mugs are long gone. The big banks are offering a Benjamin for new accounts. Sometimes two, if you’re happy jumping through their hoops.
What does the prototypical bank promotion look like? The bank wants to get new accounts and it wants those new accounts to stick. The typical bank promotion will require a minimum balance, a scheduled direct deposit each month, and that you keep the account open for at least a hundred days. A few banks will deviate from this prototype a little, perhaps adding in a bill payment or two or debit card activity, but they all follow this pattern.
Is it worth trying to sign up for a bunch of these?
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