Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7077327569062133760
This bank is now offering $3,500 for opening an account: 10 biggest cash sign-up bonuses: How you can eliminate and minimize your #banking #fees if you are holding #CD-s, #MoneyMarket, #Savings #Accounts now yielding 5% #APY plus annually available commonly. https://lnkd.in/gWFEYYPD : Here’s what you need to know about the fine print: “While bonuses can boost your savings initially, evaluating the account’s overall value is essential”: #Free #cash is good. However, experts say there are some hurdles to prepare for before taking home any of these cash offers. Some banks are offering cash sign-up bonuses of as much as $3,500 for opening a new account (see the 10 biggest cash sign-up bonuses in the attached article). While those kinds of cash offers are often hard to ignore, experts say it’s what’s in the details that really can determine whether the promised windfall is worth the effort.
• Check the fees: #Fees are the first thing that people should look at, specifically those charged for #account #maintenance, #ATM #withdrawals and a low minimum balance. #Overdraft fees should also be accounted for.
• Check fees: More often than not, banks will supply #free #checks for joining while replacements cost anywhere between anywhere from $15 to as much as $35 per order: switching to #digital-#electronic #checks and #checking #transfer #autopayments is worth considering.
• Card fees: For #ATM cards, replacement of lost ATM cards and #Debit #cards can run to 3% per transaction: switching to #credit-#cards with no annual fees and scheduled automated on-time payments is worth considering.
• Inactivity and Closure fees: Banks charge an #inactivity fee if the account remains inactive for six months or more: transferring a penny [or whatever is allowed without any other fees] across each of inactive accounts is worth considering by the fee deadline as well as scheduling such automated-scheduled transfers in advance for forthcoming inactivity deadlines.
• Savings withdrawal fees: Some banks may still charge a fee for #savings accounts or #moneymarket account #withdrawals that break the #FDIC’s Regulation D limit of six per month: setting up automated scheduled #auto-#payments from different accounts within withdrawal frequency limits is worth considering.
• Wire transfer fees: Ranging anywhere from $15 to $30, on average, both income and outgoing #wiretransfer fees can cause extra, savings and checking account options that include free #wire #transfers are worth considering as and if needed.
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