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$100 Checking/Savings Account Bonus at Guaranty Bank

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Guaranty Bank has started a program called Savings PayBack in which you can earn up to $100 each year. It requires the following:
  • Open a checking account
  • Add the Savings PayBack feature to the checking account
  • Open a Regular Savings Account
  • Choose at least $10 per month for automatic transfers from the checking to the savings account
  • When you make 11 consecutive monthly transfers, Guaranty Bank will reward you by matching your average Savings PayBack monthly transfer amount, up to $100, in the 12th month

Savings PayBack program is available to both new and existing customers. Bonus will be considered interest and will be reported to IRS.

Minimum balance to open savings account is $25, and you must maintain a minimum $25 to avoid a monthly fee and to earn interest. The interest rate is only 0.50%, so you won't want to keep a large balance in this savings account. They do have free checking accounts with no minimum balance requirements or monthly fees.

Guaranty Bank has over 175 branches, many in grocery stores, in five states including Wisconsin, Illinois, Michigan, Minnesota, and Georgia (see branch locator). The bank is FDIC insured (FDIC Certificate # 30003).

  Tags: Minnesota, Illinois, Georgia, Michigan, Wisconsin, checking account

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Comments
8 comments.
Comment #1 by Anonymous posted on
Anonymous
Anyone know if a hard credit check is pulled?

1
Comment #2 by Anonymous posted on
Anonymous
Guaranty Bank is also available in California in San Mateo county.

They are one of the banks or institutions who charge you when you close your IRA accounts ie: Kaiser Federal Bank, Downey Bank as well as others will charge $15 to $30 per account.

I have never been able to understand this fee. I stay away from them regardless of the interest rates.

Just my take on Guaranty Bank.

1
Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
After looking into this, I think that California Guaranty Bank may be different than this one. I did a post on the other Guaranty Bank in July. That one has branchs in TX and CA only. Here's the FDIC info for that one.

1
Comment #4 by Anonymous posted on
Anonymous
Does it require a branch visit?

1
Comment #5 by Anonymous posted on
Anonymous
How can it be different? Guaranty Bank is Guaranty Bank. They also have a branch in Sunnyvale (CA).

1
Comment #6 by Anonymous posted on
Anonymous
It is confusing, but there are 2 different Guaranty Banks:

CA branch is @ http://www.guarantybank.com/ while this promo is @ http://www.guarantybanking.com/ ... different logos and URLs.

1
Comment #7 by Anonymous posted on
Anonymous
This Guaranty Bank is based out of Milwaukee. I'm a member of this bank.

1
Comment #8 by Rahul Smilesssssss (anonymous) posted on
Rahul Smilesssssss
Yes, there are two Guaranty Banks.

1. www.guarantybank.com - Based out of CA with the Green Logo.

2. www.gurantybanking.com - One that offers $100 & Ipod with Maroon Logo.

1