LaSalle Bank (now owned by Bank of America) is offering a $100 bonus for opening a checking account, savings account, and using the debit card once. Likes like you need $250 for the checking and $100 for the savings. Keep the minimum amount in there ($250 for checking, none for savings*), and that’s a very nice rate of return.
In addition, you can even fund with a credit card (up to $1,000 per account) and have it count as a purchase. Great for those with rewards credit cards.
The minimum balance to open a checking account to earn the $100 cash bonus is $250. To be eligible for the Bonus you are required to sign up for a LaSalle Money Card debit card and open a new Statement Savings Account with a $100 minimum opening deposit. You are also required to make a purchase with your Money Card within 60 days of account opening. Bonus will not be considered part of the new checking or savings minimum opening deposit. Bonus will be credited to the savings account within 120 days from the date of account opening provided the stated requirements have been met. Bonus is limited to one per household, may not be combined with any other offer, is not transferable, and may be considered income to you for tax purposes. Offer available for a limited time and is for new accounts only with funds not currently on deposit. […] *The monthly fee for falling below the minimum balance requirement on a Statement Savings Account will be waived for the first six months from the date of account opening.
Although not as good, NewBank is also offering a $50 bonus for opening a checking account with $2,500 for 90 days. Both via Fatwallet.
Your NewBucks deposit is only available for new High Yield Checking and new Savings accounts with a new customer as primary owner and a minimum initial deposit of $2500.00. You must maintain a minimum of $2,500 average daily balance for the first 90 days. Worth $50 only when deposited in a new NewBank Checking or Savings Account. Your $50 NewBucks deposit starts earning interest upon account opening, but is unavailable for withdrawal for 90 days. Valid for accounts opened on or before 12/31/07
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Maybe I’m reading this wrong, but it seems like the LaSalle deal requires $350 – $250 in checking and $100 in savings.
Also, did anyone see when the bonus ends?
Are these hard credit pulls?
Are you sure that if you fund the account opening via credit card that it will be counted as a purchase and not as a cash advance? This is extremely important as cash advances will be treated very differently by the credit card. If it is treated as a purchase I agree that it is a great opportunity to get some reward points. Ex: Fund with $10,000 get rewards and then use the same checking account to pay off bill when it comes at the end of the month.
guys, is this going to be hard pull or soft credit? Any thoughts..
Jonathan,
This part of your post intrigued me:
“In addition, you can even fund with a credit card (up to $1,000 per account) and have it count as a purchase. Great for those with rewards credit cards, especially those still in the intro 5% period on their Citi CashReturns Card.”
Do you know of other bank or brokerage accounts that can be funded with credit cards in this manner? It seems like a great back door to earning rewards, one that I’m sure many of your readers would be interested in knowing about.
People on the thread at Fatwallet are saying it’s a soft pull.
I tried signing up but wasn’t able to find a way to open both the checking account and statement savings account. How do you open both at once? And is funding it with a credit card really counted as a purchase?
I don’t have either of these accounts, but other user reports say soft pull for both banks. Multiple users have also reported the credit card deposit as a purchase.
Several banks allow you to open up accounts with a credit card purchase, but almost always there is a low cap ($100 to $1,000). This allows instant funding, and they “eat” the few dollars in fees. They are willing to do this because it helps encourage you to fully open an account. As long as the limit is low and others confirm, I don’t have a problem believing that it will be processed as a purchase. With no limits, I would be wary.
For LaSalle, you must open the checkings and savings separately with two applications.
Are banks desparate for new customers?
I got an offer from Wells Fargo to open a checking account with $100 with no monthly service fees, no minimum balance requirements
It is at http://www.wellsfargo.com/fabulous50
Here are more details
Offer subject to qualification. Limit one $50 bonus per household. To qualify for your $50 bonus, you must open and fund a new personal Wells Fargo checking account with a minimum initial deposit of $100 (not including the $50 bonus) by November 30, 2007. The $50 bonus is available with all Wells Fargo checking accounts, including non interest-earning checking accounts, except for Wells Fargo College Checking?, Wells Fargo Teen CheckingSM and Wells Fargo Opportunity Checking? accounts. The $50 bonus will be deposited to your new Wells Fargo checking account within 30 to 45 days of opening. The bonus is reported as interest on your Wells Fargo checking account for IRS tax reporting purposes. Offer may not be combined with any other offer. ?2007 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.
so the convience checking requires a aveage daily balance of 250, even though the min. to open is 50. They also charge for withdrawls:
“Deposits are free. $2.75 per withdrawal, transfer or balance inquiry in non-Midwest states.**”
midwest states = Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Ohio, and Wisconsin.
1.50 for midwest states.
I opened both accounts on Nov. 5th . I deposited $ 1000 in each account via citi-cash card. When you view the citi card online the $1000 charges both appear under the charges section and not the Cash advances and transfers section. So I am confident these are purchase. I will keep you posted on the bonus.
Sorry I forgot to also add That Lasalle bank is now part of bank Of America and withdraws can be made at Bank of America ATM’s free of charge for the earlier concern about withdraw fees
Update on credit card-based funding. Had problems with one of the accounts. Savings received $1000 from credit card, checking – not happened and it appears dead-ended. Called multiple times and the CSRs are clueless. Quite rude too 🙁
Lasalle charged me the $6 fee on the savings account today. (Even though it hasn’t been 6 months yet)….I also haven’t gotten the $100 bonus yet. (Opened the account in early November).
Sent them an e-mail to see what’s up, but I’m worried that they’re gonna take the fees and never pay up, especially with them being part of Bank of America now…
I also got charged the $6 fee . I just got off the phone with them they reluctantly reversed the charge telling me the $100 bonus package did not include the min. balance fee waiver however they would note my account to include the waiver though. I clearly remeber it though. they said I may have to call back if the fee is charged again and they would reverse it. As for the $100 they said it was 120 days. I am only at about 100 days so I check back. If any one has a copy of the original offer I would appreciate a copy, I thought I had one but cant find it
Thanks Bill Doccims2@comcast.net
They reversed my fee, as well (contacted them through the secure e-mail), they said the same thing that it would probably be charged again next month as well.
I got charged $6 as well. I called them and they said the the minimum balance for Savings account should be $250 rather than $100 and the fee waiver is only for 60 days rather than 6 months. They told me that I was misinformed when opening the account. They said that they will reverse the fee this time but I will have to make a deposit to my Savings account otherwise I will be charged for a fee next time. By the way, the same offer is still out there and you can see the fine print at http://www.lasallebank/checking/landing.html and look for “Important Disclosure” section ( on the second tab).
I didn’t get $100 yet. I will shy away from this kind of deal in the future since with all the phone calls and time spent, $100 is not worth it. Based on my experience, Chase is the best on those deals (and you can do it once per year even though you are an existing customer). Good luck everyone!
Sorry, the correct link for the $100 offer fine print should be http://www.lasallebank.com/checking/landing.html
Quote from the disclosure
“The monthly fee for falling below the minimum balance requirement on a Statement Savings Account will be waived for the first six months from the date of account opening. ”
Last sentence in the second paragraph.
It’s been 123 days, no bonus.
Sending them another e-mail today, but I’m not holding my breath.
I’ll give them a week before I pull out my money.
Did anyone get the bouns? Please share…..
Yes, I finally got mine after contacting Customer Service twice.
Yes I also got mine ,but not til after I contacted customer services though, I just withdrew almost all the money and tried to close the accounts, however they insisted on paper mail request to close accounts
Don’t you have to keep the account open for at least 6 months to avoid penalty?
I dont remember reading that, I hope not because I already mailed the letter.
i signed up with lasalle and made my money card purchase in january and never receive a bonus. just emailed them today.