6% 3-Month Money Market Promo Available to All at Dime
Jul 20, 2006 - 6:16 PM by Ken Tumin
Dime Savings Bank is offering a 6.00% APY 3-month promotion on its Rewards Money Market Account. In the past this promo was only for those who received a special code from the bank. However, it's now available to all who haven't participated in this promotion in the past. In the application, just leave the code box blank.
You can close the account after 3 months without penalty. According to the customer service rep, they only do a ChexSystem check and no hard credit pull during the application.
Dime Savings has an online banking system but it doesn't have an ACH transfer system. The money market account does have check writing.The first 30 checks are free.
Thanks to the commenter MG who mentioned this in the finding deals post. I also called and confirmed this with the customer service rep. This looks like a good special for those who might be just finishing the 3 months of 5.51% checking at Everbank.
The Dime Savings Bank is FDIC insured and is based in Brooklyn, New York. It has over $3 billion in total assets. It's rated 4 out of 5 stars by Bankrate.com (sound).
[Edit 7/20: Reader was informed by Dime that the first 30 checks are not free.]
You can close the account after 3 months without penalty. According to the customer service rep, they only do a ChexSystem check and no hard credit pull during the application.
Dime Savings has an online banking system but it doesn't have an ACH transfer system. The money market account does have check writing.
Thanks to the commenter MG who mentioned this in the finding deals post. I also called and confirmed this with the customer service rep. This looks like a good special for those who might be just finishing the 3 months of 5.51% checking at Everbank.
The Dime Savings Bank is FDIC insured and is based in Brooklyn, New York. It has over $3 billion in total assets. It's rated 4 out of 5 stars by Bankrate.com (sound).
[Edit 7/20: Reader was informed by Dime that the first 30 checks are not free.]
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procol (anonymous) - #1, Friday, July 7, 2006 - 3:14 PM
I had this acct when the special was 5%. Banks ok, few branches though.
wizeguyz (anonymous) - #2, Friday, July 7, 2006 - 3:19 PM
Minimum is $2500
Banking Guy (anonymous) - #3, Friday, July 7, 2006 - 5:03 PM
Thanks, I forgot to post some of these details like the minimums. This Dime comparison table has some more details. There's a $10 monthly fee if the $2.5K min is not met. The standard MMA rate is only 1.01%. So I don't see much benefit in this account after the promo ends.
Anonymous - #4, Friday, July 7, 2006 - 5:34 PM
Can you post the link to the offer? The link posted to the offer page in the "best bank deals" column (http://www.dimewill.com/promotions/offer3.asp) does not work as an application: it doesn't allow you to click any "I agree" button. (I assume it's not just my computer.)
Thanks.
Banking Guy (anonymous) - #5, Friday, July 7, 2006 - 5:52 PM
When I click the agree button, it takes me to this application page.
latex_salesman (anonymous) - #6, Friday, July 7, 2006 - 7:39 PM
Is there 'window of opportunity'?
Looks like a good place to park my $$ after the EverBank 3-mo promo ends... :o)
Anonymous - #7, Friday, July 7, 2006 - 7:56 PM
How often do they pay interest? Monthly? Quarterly?
Anonymous - #8, Friday, July 7, 2006 - 9:10 PM
I have the promotion now. They compound daily and post interest at the end of each month.
MG
Anonymous - #9, Saturday, July 8, 2006 - 11:37 AM
Does anyone know the actual fees associated with this account? Is there a penalty to close after 3 months?
Thanks
Banking Guy (anonymous) - #10, Saturday, July 8, 2006 - 2:56 PM
I don't believe there's a penalty to close after 3 months.
Also, you can get to the promo application page from here www.dimewill.com/promotions. Then select the 6.00% Reward MM and enter your zipcode and it should take you to same application page that I have at the very top of the post.
After you select agree to the terms, the form shows up with the following at the top:
To open your 6.00% APY Rewards Money Market please submit the following information. A Dime Direct representative will send you the necessary forms to complete, you will be required to submit identification. You must be at least 18 years old to open an account.
Anonymous - #11, Wednesday, July 19, 2006 - 1:51 PM
I opened an account but after I enrolled online banking I found it out it is displayed as Checking account with interest rate of 1.090%. I called but was told to ignore the displayed interest. Is it same for your guys?
Anonymous - #12, Thursday, July 20, 2006 - 9:30 PM
Why was the link removed?
When does this offer end?
Can I have them take the money from my emigrant direct account?
Thank you
Anonymous - #13, Thursday, July 27, 2006 - 10:58 PM
same for me. don't know why.
I opened an account but after I enrolled online banking I found it out it is displayed as Checking account with interest rate of 1.090%.
Anonymous - #14, Thursday, August 31, 2006 - 7:32 AM
Did this offer expire already? If not, can someone point out where the form is located? I don't see it from the links posted.
Thanks!
Anonymous - #15, Thursday, September 7, 2006 - 7:52 AM
I opened the Dime 6% 3 month promo Money Market, and I can verify that I DID get the 30 FREE checks.
Banking Guy (anonymous) - #16, Thursday, September 7, 2006 - 8:49 AM
Thanks for the info. Glad they do give some free checks.
The special still seems to be active. Here's another promo link.
There's also a 7% money market account promo that has just stared but this seems to be targeted to specific customers only. See this FW thread on this special offer.
Anonymous - #17, Monday, December 18, 2006 - 5:39 AM
Why is this 3month promo not being included in your weekly "best rates and deals" updates? I'm thinking of going for this - and from what I can tell from dime's website, they still do offer this promo.
Banking Guy (anonymous) - #18, Monday, December 18, 2006 - 6:52 AM
I do include it under "High Rates with Conditions - Open to All", but since I also include Everbank's 3-month promo in the top lists, I should probably include this.
I was a little concerned that this may no longer be offered. One of the sign-up links had been down last week. Please let us know if you are able to sign up. Thanks.
jairocon (anonymous) - #19, Monday, December 18, 2006 - 8:51 AM
bankdeals - I just submitted my application. For the promo, you do need to work your way in from the home page (your direct link didn't work). The promo wasn't showing up in firefox (even with adblock disabled), but it showed up just fine in IE7. I filled out the app form and submitted it. I think it takes them a day or so to process it.
I would definitely lobby for you to keep mentioning this promo along with the everbank promo, even if they are almost the same. First, dime doesn't make a hard pull on your credit report, second - many people who took advantage of everbank promo might not remember that there is dime as well to chain 3+3 months at 6%.
jairocon
Banking Guy (anonymous) - #20, Monday, December 18, 2006 - 6:11 PM
Thanks jairocon! I think it's time for a new post on this. I'll do a new post tomorrow. Please keep us updated on your experience with this account.
Anonymous - #21, Monday, January 8, 2007 - 3:15 AM
seems expired? "Sorry this Promotion Code is not valid."
Banking Guy (anonymous) - #22, Monday, January 8, 2007 - 7:24 AM
Sorry, I should have included the link to my updated post on this promotion.
new post on this promotion
I hope this helps.
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