Update 4/01/09: The top savings account rate is now 1.76% APY.
Update 2/27/09: The top savings account rate is now 2.01% APY.
Update 2/06/09: The top savings account rate is now 2.51% APY.
Update 11/04/08: Readers who participated in this promo have received an WTDirect email about an extra 0.50% for 4-months on the savings account. See below for details of this email.
Update 8/26/08: A reader reported being told by a WTDirect CSR that they will honor all applications received with the promo code entered yesterday.
Update 8/25/08 8:00pm EDT: According to the promo page, the promotion has ended early.
WTDirect is offering a new account bonus in which you can earn up to $250 for opening its new savings account. The promotion is not listed at WTDirect's home page. A reader learned about it at this SD thread which listed this WTDirect promo page. According to the promo page, the offer is available to new WTDirect clients through 9/5/08. Here are the details
Open an account by September 5th and receive:
* $100 if your balance is between $10,000-$14,999
* $150 if your balance is between $15,000-$19,999
* $200 if your balance is between $20,000-$24,999
* $250 if your balance is $25,000+
Some important small print:
Open a WTDirect account using promotion code WTF3SOB to be eligible to receive new client bonus. Bonus is determined by client's WTDirect account balance at the time of initial account funding. Account must remain open and in good standing and balance level cannot decrease from initial funding balance for 60 days to receive bonus. Bonus will be credited to client’s WTDirect account during the first week of November, subject to the conditions noted above. WTDirect reserves the right to extend or cancel the bonus offer at any time.
My first post on WTDirect was in November 2006 so it does have some history. Please refer to that post for more details. Rates have been competitive, however, the top yield (currently 3.31% APY) requires a minimum balance of $10,000. Below $10,000, the yield falls to 0.50% APY.
Update 8/25/08: WTDirect Account Details:
WTDirect has better documentation than many other online banks. Here are the links along with some relevant details:
- Account Details - no monthly fees
- FAQs - allows unlimited linked accounts, high limits on transfers
- Account funding FAQs - fund by electronic funds transfer with trial deposit verification or by mailing in a check
WTDirect is a division of Wilmington Trust FSB which has been FDIC insured since 1994 (FDIC Certificate # 33911).
Thanks to the reader who mentioned this promotion in the finding deals post.