Bank Promotions to Get You Through the Door

Certainly, promotions get people through the door. Their is a bank that is offering $50 to new customers; previous promotions were and some places will offer grocery cards or even gas cards. About 162,000 (at a certain bank) checking accounts, with “no strings attached,” were opened in the first quarter of this year. The opportunity to “cross-sell” other financial products which makes the initial $50-per-customer more than worth it. But beware, most institutions do have some kind of strings attached, such as setting up direct deposit or even having to making a certain number of debit card purchases. Almost always, the new account is a checking account, Which is usually called “the centerpiece of the banking relationship” because it makes possible services such as direct deposit and also online bill pay.