Checking Account Promotions

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An Overview of  Checking Account Promotions and Rewards

There are many banks that provide checking account promotions and rewards.

One bank is PNC Bank.  PNC Bank is currently allowing customers to open new PNC Virtual Wallet® accounts with “Performance Spend.”  This gives customers a high-definition view of their money.  They are able to earn interest on balances and can manage their checking, short-term savings, and long-term savings all from one place.  In addition, they can enjoy unlimited check writing, free ATM service, and free Mobile Banking service.  Customers also have the option to link their PNC Credit Card to their reward checking accounts to enjoy even more benefits.

Fifth Third Bank is offering their Fifth Third Rewards Checking Package to reward customers for their everyday banking.  Those who make World Debit™ MasterCard® purchases and direct deposits can earn points toward rewards that they really want, including dining, travel, and cash rewards.  The Fifth Third Rewards Package includes receiving 1 point for every $1 that is spent, while receiving 1 point for every $10 that is a payroll direct deposit.  For their convenience, customers can choose to combine the points earned from their Fifth Third Bank credit and debit rewards cards under one account with 53PointShare.

Key Bank offers many different types of personal checking accounts, including the following types:

  • Key Express Checking® (their basic banking account)
  • Key Coverage Checking® (their banking account that helps to protect your identity and understand your credit score)
  • Key Advantage Checking® (their banking account for those who are placing $10,000 or more into it)
  • Key Privilege Checking® (their banking account for those who are placing $25,000 or more into it)
  • Key Privilege Select Checking (their banking account for those who are placing $100,000 or more into it)

Right now, Key Bank is offering a $150 cash reward if you do the following three things:

  1. Open a qualifying KeyBank reward checking account online and enter a specific offer code that is located on their website by October 21, 2011;
  2. Make at least 20 payments and/or purchases per month for 3 months after the opening of the account
  3. Make 3 direct deposits of $500 or more within 3 months of opening the account.

Huntington Bank provides Asterisk*Free Checking™ to those who sign up with them.  This means that there are no monthly checking maintenance fees, no minimum balance required, and no required number of debit transactions.  Additionally, if a member overdraws his or her account, he or she can make a deposit during the next business day to avoid paying the overdraft fee.  This is due to Huntington’s 24-Hour Grace® policy.

In addition, Huntington Bank provides overdraft protection for members who choose Huntington’s deposit-to-deposit overdraft plan.  Huntington Bank also provides free debit card use, free online banking and bill pay, as well as free mobile banking to its customers.

Bank of America provides many checking solutions for its reward checking customers.  They provide customers with their eBanking option, which allows customers to not pay a monthly maintenance fee if they agree to receive Paperless Statements and make all deposits and withdrawals online or via an ATM machine.  Alternatively, Bank of America provides the “MyAccess Checking” option for those customers who want easy access to their accounts at 5,800 banking centers.  These customers pay no monthly maintenance fee if they receive a recurring monthly direct deposit or if they have an average daily balance of $1,500 in their accounts.

Charles Schwab provides a checking account to customers that allows them to avoid all ATM fees no matter what ATM they use thanks to the Schwab Bank High Yield Investor Checking® Account.  This is because Charles Schwab will provide unlimited ATM reimbursements for any fees that customers pay out for using ATMs to receive funds.  Their customers also have the benefits of no minimum balance or monthly service fees, as well as gaining a free Visa® Platinum Debit Card and standard checks at no charge.  The Annual Percentage Yield is a competitive 0.20% APY, and a customer’s checking account is FDIC-insured up to $250,000.

USAA Bank provides its reward checking customers with the ability to use any ATM nationwide for free, as USAA Bank will also refund the fees charged by other banks for use of its ATMs.  USAA Bank also allows members to instantly deposit checks via a computer and scanner using USAA Deposit@Home® or from an iPhone™ or Android™ smart phone with Deposit@Moblie®.  Members can also choose to deposit checks at participating UPS Store locations that have USAA Easy Deposit.  Members can also check their account balance at any time at home via or via free apps for the iPhone, Android, Blackberry, and more.

**It is advised that you read the terms and conditions of each reward checking program on each bank’s respective websites before deciding to sign up either online or in person at your local branch to ensure that you are signing up for the best reward checking program for you.