MommyBryn
DIS Veteran
- Joined
- May 26, 2006
A bank down the road from me is offering a $400 bonus for opening a new account with a $500 deposit. The most basic account (which is what we would do) has a $7 fee (only waivable with big regular deposits which we wouldn't do), and there is a $25 fee charged if the account is closed before 180 days. So essentially, I'd lose $42 at the end of 6 months (when I'd close the account since I don't need it) but would still get $358 of "free" money.
Those of you who do this regularly for the bonuses, do you find it to be a pain? Are there any unexpected drawbacks that I'm not considering? We bank exclusively with a local credit union for many reasons, so opening another account isn't necessarily appealing to me, but with that bonus- particularly one that doesn't come with a lot of other requirements like I usually see- it seems kind of silly to pass up.
Those of you who do this regularly for the bonuses, do you find it to be a pain? Are there any unexpected drawbacks that I'm not considering? We bank exclusively with a local credit union for many reasons, so opening another account isn't necessarily appealing to me, but with that bonus- particularly one that doesn't come with a lot of other requirements like I usually see- it seems kind of silly to pass up.