Update: Read our new review of PerkStreet Financial's Debit Card and Checking Account
Interested in getting 2% cash back on every purchase you make with your debit card for the first six months and 1% cash back thereafter?
Perk Street Financial, is offering a free online checking account with 2% cash back for first six months and 1% thereafter.
All you need to do is sign up for a free online checking account. It takes just a few minutes. Just visit: PerkStreet Financial 2% Cash Back Debit Card
Sign up is easy. Just your name, social security number, address, contact details and your mother’s maiden name. You can fund the account using a credit or debit card or electronic funds transfer from your bank account. You will need to make a minimum deposit of $25.
When you sign up, you should select the payback offer. There are two other types of reward – free music and free coffee. If you choose free music or free coffee instead of the cash back, you will receive double rewards for the first six months.
But hurry. The offer is valid only till April 30, 2010.
Warning: this offer is not for those who do not intend to use the debit card regularly. There is an inactivity fee of $4.50 for every month the card is not used. If you do not intend t use the card regularly, I would suggest getting a money market account which has a checking card attached to it. That way you will be earning some high interest on your money and not just spending it.
Once you get your debit card, you can use it to purchase goods from merchants displaying the visa logo. But do not use the pin when you make a purchase. If you use the pin, you will not get the cash back. When you opt for a pin free transaction, the transaction operates like a credit card purchase. But since it is a debit card, the money comes from your account. When a debit card transaction is pin free, the bank pays lower transaction fees. Perk Street Financial is sharing this lower transaction fee benefit with you by offering you cash back.
Current Perk Street SM customers and former Perk Street customers who closed their accounts within the past twelve months cannot apply. Also you cannot apply if you share a household with a Perk Street customer. Perk Street Financial has over $1.5 billion in assets and is the largest surcharge free ATM network. It is FDIC insured. The Perk Street Financial debit card offers 1% rewards compared to 0.4% for other debit cards. The debit cards come with all the features of traditional checking, and include online bill pay and free checkbooks. The debit card is protected from fraud by Visa’s Zero Liability policy.
Not so much interested in debit cards? Perhaps a CD account, money market account, or traditional savings account would be right for you. We chart the highest bank rates nationwide.
