The competition for your money is greater than ever before. American capitalism has reached its best, and there are all sorts of solid investments which would love to keep your savings or your investments for you. These are not just shysters either. There are many very-solid companies out there who would love to have your savings at their bank. Since there is so much competition out there, they have to do a lot of work to get a new account. Here is how you can take advantage of their competition for your money.

Banks which offer online savings accounts are competing with each other to get your business. There are so many good banks out there, it’s hard to sway a consumer to switch their savings account to another bank, or get them to open an account with a bank in the first place. Instead of wasting advertising revenue on additional internet or television ads, some banks decided to give the advertising money to their potential customers as an incentive to sign up for an account at their bank. For each new account that you open, you can get anywhere from $10 and $25 just to put a few dollars in the account.

Once you have the money in the account, and the deposit bonus made, you can withdraw your money, and be done with it. Most of the time banks will close your accounts if your balance reaches $0.00, and you have your money back and the deposit bonus free and clear.

What banks currently offer deposit bonuses? There are a few different ones, and it changes from time to time. If you find the correct link, ING Direct and Grand Yield Direct will offer you each $25.00. You can do a simple Google search for [“online savings account” “deposit bonus”] , and there are several sites which will tell you about the latest bonuses that online banks are offering to create accounts with them. Sometimes you will have to click on special links or use promotional codes in order to get the deposit bonus, but you’ll just have to look out for them.

In the end, you probably won’t make a whole lot of money, but $50 is $50! That would pay for a very nice date with the wife, or buy you a few new CDs. Doing such will not effect your credit score at all, so that is not a consideration. The banks are probably not going to be very happy when customers do this, but

This entry was posted on Thursday, August 14th, 2008 at 12:45 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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