Tempting Checking Account Promotions

Fed up with your bank and ready to switch? Looking for good checking account promotions to sweeten the deal?

Here are some of Outlaw‘s favourites:

ING DIRECT Electric Orange — You get a $50.00 bonus when you sign up through the link published on that page. Electric Orange is ING’s online checking account product. There are no annoying maintenance fees, and they issue you a cool looking MasterCard debit card that’s linked to your account, so you can make withdrawals at any time. Plus, any ATM within the Allpoint Network is free of charge to use — no fees at all. (There are currently 35,000+ ATMs in that network nationwide.)

I’ve had an Electric Orange account since 2007 and strongly recommend one as a primary or back-up checking account.

Capital One Interest Online Checking — As with ING DIRECT’s account, this one has no minimum balance requirements, although there is an initial account opening deposit minimum of $1,000. No maintenance fees, debit card issued to you, along with paper checks. Any balance above 1 cent earns their rather high standard APY of 1.01%.

Bank of America — Promotions vary by region; walk into your local branch and ask if any promotions are available to new checking account customers.

Recently, there was a $100 targeted offer, so you might still be able to get that. Remember to sidestep monthly maintenance fees by asking your bank teller about them in advance, and how to avoid them. For example, you may be able to avoid the monthly fee by doing a qualified payroll direct deposit into your new checking account at least once per month, or by using your debit card for a “signature” purchase 5 or more times per month, or by maintaining a minimum balance. Terms vary based on the checking account, so definitely do your homework.

A similar $100 or $125 targeted offer may be available for new Chase checking customers as well. When you use a Chase ATM as a non-customer of the bank, you may be asked if you want a coupon to be printed out for the $125 checking account deal. Print it out and bring it to a local bank branch during regular business hours to open a new account. Again, ask about the monthly service fee, and figure out if there’s an easy way to avoid it. 

View all of my favourite new bank deals and offers over on Outlaw.

Disclosures: I used to review credit cards for a living. Also, my web site has financial relationships with numerous banks, including Chase, Barclays Bank, and ING DIRECT.