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Would you switch banks if you were offered free money to do that?

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We get lots of junk mail including from the bank that holds the loan on our house.  Which by the way will be paid in full November 2016.  When I get stuff from that bank.  I make sure it's nothing important. Like related to the loan on our house.  If not I toss it.  Well there must of been something to open up a checking account.  The other day that bank calls dh to ask if we got a piece of mail from them about opening a checking account.   Telling him.   They'll give us 100$ free for opening up a new checking with them.  Dh says we are not interested.  We are happy with the credit union.    Although I could use 100$ extra right now.  It just isn't the incentive I want to get me to switch.

by on Mar. 21, 2013 at 5:51 PM
Replies (21-30):
AjCeCeMom
by Member on Mar. 22, 2013 at 2:25 PM
I'm really happy with my credit union. No, I wouldn't switch.
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happycells
by on Mar. 22, 2013 at 2:52 PM

My advice stay with your credit union.  I did that in the bank in the grocery store and got 75.00 and also received a 1099 to report that money on my taxes, something they don't tell you.  Nothing is FREE. Good for dh saying NO. 

ColieO
by Member on Mar. 22, 2013 at 2:55 PM
Nope. I won't ever leave my credit union for a bank. Did it once, horrible mistake.
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AzariahsMother
by Lynsey on Mar. 22, 2013 at 2:58 PM

Nope, I would not do it for $100 because there is something behind that.  Now $500 and up maybe but not really worth $100 and I bet you dont' get it right away.  If it's TCF bank I say run! 

Grnyann65
by on Mar. 22, 2013 at 7:14 PM

I like my bank. It would have to be more than $100 I switched for...maybe, $500...maybe...

Grnyann65
by on Mar. 22, 2013 at 7:17 PM
Chase IS great!
Quoting chicken13:

Nope.  For me, it's all about how sexy their bill pay setup is.  I pay 95% of our bills electronically and it needs to be sleek, easy and well appointed with features I need and use.

For example...chase is great.  Td is horrible.


IloveElephants
by Member on Mar. 23, 2013 at 1:12 AM

I've done this several times.  For income tax purposes it's about $20 for getting that $100, so figure about $80.  We're a two income family, so it wasn't a big deal to switch one direct deposit over to the other bank.  I can still use all the online bill pay and the same features as my other bank.  It's really no big deal, just the time to open up the account.  This has funded my daughters savings account.  I give her the money.  I am about to open up another account and get $150 this time.  If I remember correctly you have to keep the account open for either 3 or 6 months.  I can't really remember, but it's not a long time.  

MissyB1011
by Silver Member on Mar. 23, 2013 at 8:52 AM
We prefer to bank at an area credit union and local bank. Both offer great service & they know me as soon as I walk in.

I have had offers come in the mail similar to that. They seem to be larger national banks. Most of them don't even have local branches. They want to force online banking for everything.

I have also noticed there is a lot of fine print to get the $100. You have to use the debit card so many times, there is a certain balance that has to be kept, the account has to be left open for a specific time period or they charge a termination fee.
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diaperstodating
by Angel on Mar. 23, 2013 at 10:15 AM

I might open up a second account with a new bank, but I wouldn't switch from my credit union, $100.00 is not enough to get me to switch.

nmaxwell816
by on Mar. 23, 2013 at 10:47 PM
I've done it for $50 bucks a few years ago
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