Online Bank Deals - rates, rewards, and bonuses

Online Bank Deals (updated 7/30/07):

Wachovia Bank is offering a $50 bonus to new customer who open a checking account (minimum $100) and establish direct deposit within 90 days (minimum $100). Citibank credit card holders qualify for a $200 bonus by opening a Citibank checking account by 8/31/2007 and meeting certain direct deposit and online bill payment criteria. Call Citibank at 866-422-0592 and use code MVS2 to apply.

Bank of America is offering $100 for new customers wh open a MyAccess checking account online. No monthly maintenance fee, no minimum balance, no direct deposit required. Use offer Code CH100CTA in application to receive bonus.

US Bank’s $75 bonus for opening a new checking account and enacting a direct deposit of at least $100 within 60 days of the account opening.

M and T Bank is offering a $50 cash bonus when you activate direct deposit on a new checking account or $25 when you activate direct deposit on any other new consumer checking account.

Citizens Bank is offering a $25 bonus for interest checking accounts opened with a balance of over $1,500 and a $50 bonus if the opening balance is over $5,000.

Bank of America is offering a $100 cash bonus to all Bank of America credit card holders who open a checking account online. No monthly fees, no direct deposit requirements, no minimum balance requirements.

Sovereign Bank will reward new customers who open a personal checking account with a $100 deposit and a Sovereign VISA Checkcard with a $100 Dining Dough Card or a Roundtrip Companion Airline Ticket or both. Further rewards are possible for setting up a direct deposit or using the VISA Checkcard.

BankDirect’s checking account rewards checking customers with American Airlines miles.

Updates and links available here.

Online Bank Rate Specials:

New Dominion Bank is offering variable rate CDs with an interest rate tied to the Wall Street Journal prime rate. The bank will adjust the rate on the CDs as the prime rate increases or decreases. Current rates are 1-year (5.50% APY), 18-month (5.55% APY), 2-year (5.60% APY), and 2.5-year (5.60% APY). Other rate specials this week include:

10.00% APY from Affinity Bank on their savings account for kids only (applies to balances up to $500). California residents only.

6.17% APY from FirstBank (located in Kentucky and Tennessee from FirstBank’s website:

FirstRewards is an account that lets you earn sky high interest (currently, 6.17% annual percentage yield) on balances up to $25,000 (1.00% on balances above $25,000) and refunds all domestic ATM surcharges. The minimum opening balance is $0. Sky high Interest is earned by completing a few tasks between statements (from the 4th Wednesday of one month to the 4th Tuesday of the next). If you complete all of the tasks, you earn the sky high interest, it’s that simple. In the event you do not complete the required tasks your account will earn .20% annual percentage yield. The tasks that will allow you to earn your accrued interest are: • At least 10 check card transactions (excess transactions will not carry over to the next month and ATM transactions are excluded) • Direct Deposit or at least One ACH Credit or Debit • Access Online Banking (by any joint account holder) • Receive Electronic Statements (when available

6.01% APY from Everbank on their introductory offer checking account ($1,500 minimum).

6.00% APY from FNBO Direct on their online savings account (no minimum balance).

5.60% APY from First National Bank on balances up to $25,000 in their Ultimate Checking account. ACH/Direct deposit and 15 monthly VISA check card transactions required.

5.55% APY from Evergreen Private Bank on their 5-month CD ($10,000 minimum).

5.51% APY from Tennessee Commerce Bank on savings accounts of $250,000 or greater.

5.50% APY from Gloucester County Federal Savings Bank on savings accounts balances of $100,000 and over. 90-day rate guarantee.

5.50% APY from Bank of Illinois on VIP Elite Checking account for balances up to $25,000. Requirements to qualify include 10 or more check card transactions a month, one direct deposit a month , and an electronic delivery of statements.

5.47% from Luana Savings Bank on their 4-year CD held in IRA accounts ($1 minimum).

5.46% APY from Bank of Internet on their 18-month CD term ($1,000 minimum).

5.45% APY from IndyMac Bank on their 1-year “raise your rate” CD. Depositors have one time option to increase their CD rate to prevailing one year rate.($5,000 miniumum).

5.44% APY from Farmers State Bank on their 7-month CD term ($1,000 minimum).

5.41% APY from World Savings Bank on their 5-month CD term ($10,000 minimum).

5.40% APY from NetBank on their 18-month CD ($1,000 minimum).

5.40% APY from Countrywide Bank on their 9-month CD ($2,500 minimum).

5.35% APY from Flagstar Bank on their 13-month CD ($5,000 minimum).

5.05% APY on savings account at E*Trade Bank which can be linked to your brokerage account ($1 minimum, no fees)

ING Direct’s Electric Orange checking account is tiered yields of 5.30% (+$100,000), 5.25% ($50,000-$99,999), and 4.00% ($0-$49,999). This checking account from ING Direct is paperless with ING providing a platform to send money to any person or business via electric checks. It is very possible this is the type of checking account a majority of banking customers will be using within 5 years.

Updates and links available here.