Financial Fellow

Written by J.P. Wicklein

     Dime Bank recently announced $300 in bonuses for new checking account customers.  I’ve seen checking account incentives up to $100 before, but never anything this high.  Dime Bank has put several conditions in place to receive the full bonus.  Here are the details: 

·         New Dime Bank customers that open a “Prime Dime Rewards Checking” account receive a $100 bonus at time of opening, another $100 for setting up monthly direct deposit, and $100 more for completing two online bill payments.

·         The bonuses for setting up monthly direct deposit and completing two online bill payments will be paid 6 months after account opening.

·         You must keep the account open for 6 months.  If you close the checking account before 6 months any paid bonuses will be deducted from your account balance.

·         The minimum opening balance is $1.

·         There is a $15 monthly fee if the average daily balance drops below $5,000.  (For balances over $5,000 the APY is 0.50%.)

·         The offer is limited to 1 per household.

·         The promotion runs until 11/15/09.

·         All bonuses are reported as taxable interest on IRS Form 1099-INT.

     Dime Bank’s terms are more restrictive than most.  If you can deal with them, though, you’ve got yourself an extra $300.  For more information on Dime Bank’s offer click here. 

Photo by: meddygarnet