Did you know that a bank will pay you, and not take money from you like they are more accustomed to do? It’s true, and while the occasion is rare you should take advantage of any time where a bank is willing to foot the bill.
But when does this odd occasion happen?
When you open a new account.
A Bank is a Business
Banks are kind of like that cheap friend you had in college. When it came time to share the bill at the restaurant they dug their hands into their pockets, looking innocent, and making some excuse like they forgot their wallet this time around. You know the dude has got money, they’re just being cheap as hell!
So how you view a bank will go a long way with how you treat one.
A bank is a business like any other organization. They stand to make a profit but cannot do so without customers. Remember that they work for you, and not the other way around.
Banks Promote Their Services
Banks, like other businesses, have stiff competition. They need to find a way to draw you in and get your services before the guy across the street brings you in. One of the most incentive ways they do so is by offering some type of reward for opening up a new account.
Consequently, banks not only promote their services by offering completely free checking accounts, higher interest savings account, and other financial services along with simple pleasures like free coffee and donuts, but also try to introduce promotions to drum up new business.
One of the most popular is free money for opening a new account.
Types of Free Gifts
You will be surprised just how much money you can get from a bank just for opening up a new account. But it’s not the only type of rewards banks may pat your back with for going with them:
- Cash Rewards (sometimes as much as $100 to $200)
- Reward Points that can be used to claim a gift of your selecting
- A prepaid debit card or gift card to spend elsewhere
- Some type of seasonal gift (for example I once got a new BBQ grill set) for opening a new account
NEXT: Fantastic promotions and something you should definitely take advantage of…