Category: banking

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banking

Provident Bank Free Checking Review and $123 Bonus

Like many banks in this economy, Provident Bank is jonesing for some new customers – and the best way to do that is to give customers some free money to sign up! Let’s face it, the only way a bank is going to make money in this economy is to have money so they can make legitimate loans. So let’s give them some money and get some free money in return!

To get the $123 bonus you must open your free checking account with direct deposit and an activate a debit card by March 31st, 2009.

Provident Bank Review:

Provident Bank is the largest independent commercial bank that is headquartered in Maryland. Their assets are listed at more than $6.4 billion, and they offer quality banking services to individuals and businesses located in the Greater Baltimore, Greater Washington and Central Virginia areas. Provident Bank also offers a number of additional services including loans, credit cards, home equity loans, Health Savings Accounts (HSAs),  and additional investment services at their network of almost 150 branches.

Provident Bank Free Checking Review:

  • Higher rates on CDs, savings and money market accounts
  • Lower rates on home equity loans, lines of credit, personal, auto and boat loans.
  • FREE Online Banking with Bill Pay.
  • Evenings and weekend hours at convenient locations.
  • Thousands of surcharge-free ATMs nationwide.
  • Member FDIC

How to get the $123 Bonus

  • Choose and open your checking account, plus order your FREE MasterMoney™ debit card by March 31, 2009
  • Sign up for Direct Deposit
  • Start using your new account and get $123

Here is the fine print:

Provident Bank will award $123 to new personal checking customers that open a new Totally Free, Regular, Interest or Platinum checking account between February 2 and March 31, 2009 that have direct deposit and an active Provident MasterMoney™ debit card by April 30, 2009. Customers that enroll in Provident Bank’s Power Points debit card rewards program by April 30, 2009 will receive 500 bonus points by May 31, 2009. Offer only available to residents of DC, MD, PA, VA or WV who are 18 years of age as of February 2, 2009. Limit one per household. Employees and their families of Provident Bank and its subsidiaries are not eligible for this offer. Minimum opening deposit of $25 is required for all personal checking accounts. Checking account Annual Percentage Yields as of January 21, 2009: Interest: .10%; Platinum .25%. Yields may vary after account is opened and may vary by branch location. Fees can reduce earnings. The cash award will be deposited into qualifying personal checking accounts in good standing on or about May 31, 2009. The maximum award for this promotion is $123. Customers will be responsible for applicable taxes. Offer valid for limited time and cannot be combined with other promotional offers.

Here is more information about how you can get free ATM transactions.

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banking

Metropolitan National Bank Review and $200 Sign Up Bonus

metropolitan-national-bankMetropolitan National Bank is currently offering a $200 sign up bonus when you sign up for their free personal checking account and fund your new checking account via direct deposit. Metropolitan National Bank is located in New York, but you can apply if you are located outside of NY if you send in a copy of your driver’s license and a copy of a recent utility bill to verify your address. In addition to sending in verification of your identity and your address, you will need to send in a copy of a recent pay stub to provide proof that you are participating in direct deposit. Why they can’t verify it on their own, I don’t know. But $200 is a lot of money, so it may be worth it to you.

Metropolitan national Bank Free Checking Account Review

  • No minimum balance requirement
  • Fast and easy online application process
  • No monthly fee
  • No direct deposit requirement
  • Free VISA* check card
  • Free online banking with free bill pay
  • Free e-Statements
  • Free ATM transactions worldwide
  • Member FDIC

Sign up for Metropolitan National Bank free checking account.

$200 Metropolitan National Bank New Account Bonus

The $200 bonus is a good reason to try out this bank.

Here is the fine print:

Free checking $200 bonus offer is subject to change without notice, limited to one account per customer. Free checking $200 bonus requires activating full, direct deposit ($500 minimum) of recurring payroll, government benefits or pension disbursements. $200 bonus will be credited to the account (approximately 30 days) after first full, qualifying direct deposit posts to your account. The initial qualifying direct deposit must be made within 60 days of account opening. We also require that qualifying, full direct deposits be made continually for no less than six months from the date of the initial qualifying direct deposit. Should these deposits be terminated or the account closed prior to six months, any paid bonus will be charged from your account or shall be otherwise due to us. The bonus is considered interest and will be reported to the IRS with form 1099-int.

It takes a little work to get your account set up – faxing all the paperwork is a drag – but the end result is nice. $200 for free and free worldwide ATM transactions make me a happy man.

Here is more information about how you can get free ATM transactions.

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banking

E*Trade Cuts Interest Rates – Currently 2.50% APY

E*Trade chopped their interest rate from 3.01% down to 2.50%. This is one of the larger cuts from the banks listed in the top high yield savings account rates, but E*Trade had one of the highest interest rates out of those high yield banks, so it is understandable that their recent cut was so large.

How does E*Trade compare to other high yield savings accounts?


Even with such a large rate cut, E*Trade is still very competitive in the market for high yield savings accounts. As I mentioned in the previous article about the HSBC Direct rate cut, high yield savings accounts are still a good option and will earn you much more money than a traditional brick and mortar savings account. Here are more benefits of a high yield savings account.

Be sure to check the top high yield savings account rates for a current list of the top high yield savings account rates.

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banking

HSBC Direct Slashes Interest Rate to 2.45% APY

HSBC Direct joins a long list of high yield savings accounts that have slashed interest rates in recent days. As long as the fed continues to leave the federal rate at roughly 0%, we will continue to see low rates for high yield savings accounts.

HSBC Direct cut their current “high-yield” rate from 2.60% to 2.45%. While sub 3.0% rates seem to be the rage nowadays, I’m sure we will see higher rates in the near future. As soon as the Fed starts raising interest rates or as soon as lending increases, high yield savings rates should increase as well.

Are high yield savings accounts still worth it?

These current rates beg the question -are high yield savings accounts still worth having? My answer is yes, high yield savings accounts are still worth having, even at a 2.45% interest rate. You’ll be lucky to get a tenth of that at your local brick and mortar bank and the power of compound interest is far too powerful a force to ignore. Here are more benefits of high yield savings accounts.

Be sure to check the top high yield savings account rates for a current list of the top high yield savings account rates.

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banking

Save Money on ATM Fees with the Allpoint ATM Network

If you are looking to save money on ATM fees, you should search for a bank or credit union that is a part of the Allpoint ATM network. Allpoint offers all member banks free ATM withdrawals from their branded machines – and there are over 37,000 of them in the US, meaning you are never far away from your money. After all, why should you have to pay to access your money?

Many prominent banks and credit unions are part of the Allpoint ATM network, including a personal favorite of mine, ING Direct. Free ATM access is just one way that you can maximize your returns on your high yield savings account. Here is more info about the Allpoint ATM Network.

Allpoint ATM Network Facts

  • America’s Largest Surcharge-Free ATM Network.
  • 37,000 Surcharge-Free ATMs Around the World.
  • 1 out of 12 ATMs in America is an Allpoint Surcharge-Free ATM.
  • Convenient Locations: Allpoint ATMs are Located in National and Regional Retailers such as 7-Eleven, Target, and Costco.

Allpoint ATMS by region

allpoint-atms-by-region

Allpoint ATMs by State

Use the Allpoint ATM locator to locate ATMs near you.

allpoint-atms-by-state

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banking

Why You Need a High Yield Savings Account

Everyone needs a High Yield Savings Account, everyone. If you are serious about growing your savings, then you need to put your money into a high yield savings account where compound interest can make your money grow. Here are the top reasons you need a high yield savings account.

Why you need a high yield savings account

Higher interest rates. Most brick and mortar banks offer laughable interest rates, sometimes as low as 0.20% for a standard savings account. The top high yield savings account rates are often 5-10 times higher than the national average. If you don’t have a high yield savings account, you are leaving money on the table.

High yield CD rates. The good thing about high yield savings accounts is that their high interest rates roll over into other banking features as well, including high CD rates. Here are the top high yield CD rates from nationally available banks.

Few fees. Most high yield savings accounts have little to no fees, and have low minimum balance requirements (most are as low as $1.00).

Best place to park emergency savings. Everyone needs an emergency savings account, and a high yield savings account is the best place to put your emergency savings account – that way you will earn more money from the interest of your deposits.

Earn more money while waiting to invest. I like to invest my money in the stock market and in other equities, but brokerage accounts don’t typically pay very good interest. While I’m waiting for the best deal, I like my cash to earn higher interest than what the best discount brokerages pay.

Make it automatic. The top high yield savings accounts allow customers to automate their savings through direct deposit, ACH transaction, automatic deposits, and other automatic transactions.

Online bill pay. Online bill pay is a free feature with almost every online high yield savings account. Online bill pay makes it easier to pay your bills on time and will save you time and money. Many brick and mortar banks charge for this feature.

Easy access to your money. Most high yield savings accounts offer ATM access at a wide variety of locations, and many offer free AM access. Most local banks have limited ATM locations and charge higher rates. If you need to transfer money, your cash is never more than a couple days away.

As you can see, there are plenty of reasons why you need a high yield savings account.

As a side note, I recommend doing your due diligence and researching banks before signing up for a new accounts. Read the fine print and be aware of any possible fees before opening a new high yield savings account.

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banking

Welcome to High Yield Savings Accounts

Welcome to High Yield Savings Accounts – a website devoted to High Yield Savings Accounts, high yield savings account rates, high yield checking rates, online banking, interest rates, bank sign up bonuses and free money, high yield CD rates, checking accounts, Certificates of Deposit (CDs), CD Ladders, and other banking topics such as Federal Deposit Insurance Coverage (FDIC). The goals is to maximize your savings returns to earn more money!