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Tip of the Day: Walk in to a New Bank Branch

January 3rd, 2008 at 04:50 pm

Here's my unsolicited tip of the day ... Get off of your computer, get out of your car, and physically walk in to one of those new bank branches that are sprouting like weeds. Ask them if they have any special promotions. New branches may have promotions to attract new customers that you won't find out about unless you ask. I did that yesterday.

I was able to open an MMA with an APY of 4.75% that is locked in for 180 days. I really like the "locked in" part given the direction that interest rates have been going. The new branch was offering this higher rate and the lock but other branches of the same bank weren't.

I also opened a free checking account with $100; it doesn't pay any interest but I'm getting a free $75 Visa Gift Card.

7 Responses to “Tip of the Day: Walk in to a New Bank Branch”

  1. disneysteve Says:

    Great tip. I especially like the $75 bonus. How long do you have to maintain the account?

    I may just have to start checking out these new branches I keep complaining about.

  2. scfr Says:

    Good question - We have to keep the checking account open for 6 months to avoid an early-closing penalty. The date we can close it is written on my calendar!

  3. sounderella Says:

    Which bank was this?

  4. Joan.of.the.Arch Says:

    Were you already a customer at this bank, just a different branch? Or was this a completely new customer promotion?

  5. scfr Says:

    I was a completely new customer for that bank, which in this case was Wachovia. I did a quick internet search, and it seems Wachovia is keen on these promos when they open a new branch, but I'd suggest you ask at any new branch in your area ... It never hurts to ask!

  6. denisentexas Says:

    I'd love to find a bank that offers a $75 gift card for opening a new account. We're about to open one, just a checking account, but the credit union we went to yesterday has ridiculous fees for every little thing they do that we more than likely won't open it there. So, we're in the market for a new bank! Thanks for the tip - I'll look around.

  7. disneysteve Says:

    I mentioned this entry to my cousin today. He is a bank officer. He said his bank does this. They recently opened a new branch and offered some special deals at that branch and they were running another round of offers this month, so it sounds like a fairly common practice. Good to know.

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