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Netbank's iPod CD/Money Market Promo Update

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Update 9/28/07: NetBank closed by the FDIC. See post for more details.

Last October Netbank came out with an Apple iPod shuffle promotion. This was scheduled to end in December. It has been extended until the end of February, however, there has been one important change. It now requires funding the money market account or a 1-year (or longer) certificate of deposit with at least $2.5K. The previous requirement was only $1K.

Some other of the important rules from the promo page include:
  • This offer is available only for first-time NetBank deposit customers who apply through the links on this page and will be rewarded only once to any individual.
  • We will ship your iPod shuffle when (1) you fund a NetBank Money Market with a $2,500 average daily balance for 30 consecutive days; or (2) 30 days have occured since funding a NetBank CD. The iPod shuffle will be shipped within 4 weeks after you have met these promotional requirements.

It looks like you could transfer most of the money out of the money market account after the 30 days. Note, there is a $500 average daily balance requirement to avoid a monthly service charge. If you close the money market account within 6 months, there's a $25 fee. There's a $7.50 account closure fee regardless of how long the account has been opened. Refer to Netbank's money market account page for more details.

There's also a combined $175 promotion that Netbank has with drugstore.com. I had first posted on this last August. It still seems active. I don't see any expiration date on the promo page and the ad link is still listed at drugstore.com. This drugstore promo only requires a $100 deposit to the money market account to get a $75 bonus. Another $75 bonus is for opening a checking acount with at least a $50 deposit.

The third sign-up bonus on the drugstore/Netbank promotion page is a $25 Visa gift card for opening a CD with a $1K deposit. Instead of using this CD promo, you might be able to open a CD for the iPod bonus and then open the checking and money market account for $150 in cash.

If you want to do more research into these Netbank specials, refer to these forum threads at Fatwallet and SlickDeals.


Comments
4 Comments.
Comment #1 by Floyd (anonymous) posted on
Floyd
This is great.

How much does a shuffle cost in the market ..probably $100.

Do you know what the ACH timings for Netbank is?

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Comment #2 by Floyd (anonymous) posted on
Floyd
I am going to get my ipod I think

http://myfinancialgoalblog.blogspot.com/

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Comment #3 by Samir (anonymous) posted on
Samir
Its been 3 months and I havent received anything from them. I call them up n they have no answers and emails have been unanswered and ignored.

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Comment #4 by Banking Guy (anonymous) posted on
Banking Guy
This Netbank iPod promotion seems to be over as of March 2006. However, TCF Bank has an iPod promotion that was advertised on March 26. Refer to this post for more info.

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