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Did you know you can earn higher interest using your checking account? Promo offers on checking accounts boost a bank's business and also the depositors' portfolio. Now, checking account holders can take advantage of high-yield rates temporarily and they In some offers, customers may get disappointed because of certain limitations. But banks have their own reasons, too. This article discusses the different checking account promos offered by banks to their clients, as well as the different terms for each promo, and additional requirements that the depositor will need to complete.

Promos in Checking Accounts

A checking account is a service provided by banks and other financial institutions that allows a depositor to withdraw and deposit cash from the account. Checking accounts involve checks where a depositor can use personal checks in paying for purchases or expenses or even debts. Opening a checking account may sometimes require a minimum deposit along with certain requirements such as identity cards and proof of address. A working student or low income depositor may also want to avail of checking accounts that do not charge fees for the personal checks.

Currently, the rates raised are competitive making it a little challenging for people to the best banks with high interest rates. Most national banks are having promotional offers for first time depositors such as giving away items or providing high-yield rates temporarily. Though they are enticing enough, Americans must understand that these promos can have downturns and the worst of them is that they have to be a resident of a certain state to qualify.

For current promotional checking accounts promo, Bank of the West is currently offering a free Apple iPod touch for depositors who will open their own checking accounts and the promo is valid only until September 3rd, 2010. To qualify, depositors must have at least a minimum monthly direct deposit of $500 or have made ten bill payments with Bank of the West through online banking or have made twenty debit card transactions. Further details can be found in the bank's homepage. ViewPoint Bank, a community bank in Plano, Texas, offers a remarkable Absolute Checking Account that earns a 4.00% APY. This promo has a lot of freebies in it. No monthly service charge, no minimum required balance to earn interest, free Visa Check Card and a free budgeting tool called Free FinanceWorks. Unfortunately, the promo is available to Texas residents only.

Checking accounts can be applied through paperless method, that is online, or traditional method, that means physically applying for an account in a real bank. Online checking accounts are more popular these present days because they are easier to be applied for and they can be accessed easily even through mobile phones. And coupled with that, banks now prefer the online method of bank statements sending since it reduces paper clutters in their office and the dreadful mailing fees. But in reality only a few has been receiving their bills online with an estimated 13 or 15 percent. Banks are now facing the challenge to divert the sending of statements online and have to offer promotions so customers can just log-in the internet and check their statements online. Others have also gone to charging small fees to customers who wants to keep receiving their statements through mail. Some promotional offers can make depositors feel disgruntled but generally, they will still be benefitted.


1 YEAR CERTIFICATE OF DEPOSIT

  • Maximum Earnings
  • No fees, FDIC Insured

ONLINE SAVINGS ACCOUNT

  • No minimum balance
  • Competitive rates, No risk

Savings Overnight Averages

Product
Yield
+/-
Last week


MMA
0.11
-
0.11


MMA 10K
0.13
-
0.13


MMA 25K
0.14
-
0.14


MMA 50K
0.16
-
0.16


Interest Checking
0.17
-
0.17


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