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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 (31-33):
by on Mar. 24, 2013 at 12:31 AM

There is usually some sort of gimick.  It's def not quick cash.  When I signed up with my bf bank they told me since I was going to have direct deposit, I would be elgible for the free $100 if I had a direct dep set up and kept my account open for 60 or 90 days after...I wasn't opening the accout for this reason but it was an added bonus.  I actually just got that money a couple days ago.  But I've had the account for at least a month or two.

by Silver Member on Mar. 24, 2013 at 9:16 AM
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 I recently opened up a new account because they paid me $200. Then to get a credit card, it was $100. I kpt my old acount open and I'll see which one I like best.

by Bronze Member on Mar. 24, 2013 at 9:24 AM
Actually it is in the fine print. Interest is also reported on a 1099 form. It is taxable income.

Quoting happycells:

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. 

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