Update 3/06/09: The savings account APY has fallen to 2.01% APY. A reader reported being told that this Winter Bonus is scheduled to post on 3/13/09.
Update 02/05/09: The savings account APY has fallen from 2.81% to 2.51%.
Update 12/24/08: It appears WTDirect has extended this promo to 12/31/08.
WTDirect is offering another new account bonus similar to what it offered last August except you need a balance twice as much to earn the same amount. Here's the WTDirect promotion page, and here's a summary of the bonus:
- Open new account using promo code WTG3DNC
- Link an existing bank account to your WTDirect account during the application
- Fund account by initiating an online transfer by 12/22/08
- Bonus depends on average balance from 1/1/09 to 2/28/09
- Cash bonus will deposited into your WTDirect account in mid-March
- $250 bonus for $50,000 balance
- $200 bonus for $40,000 balance
- $150 bonus for $30,000 balance
- $100 bonus for $20,000 balance
- $50 bonus for $10,000 balance
- This offer is available to new WTDirect clients only
- There is no minimum balance required to open the account
- Clients may transfer funds in and out of the WTDirect account during the promotion period (1/1/09 - 2/28/09) and the bonus will be based on the average balance level during that time
- WTDirect reserves the right to cancel or modify this promotion at any time without notice.
For the best case this promotion will effectively add about 3% to your rate during the promo period. The standard APY is currently 3.06% for balances over $10,000.
Several readers have reported receiving the last bonus, so WTDirect seems to honor its promises. In addition, those who participated in the last promo were given the chance to earn an extra 0.50% for 4 months in the savings account.
WTDirect Account Details:
The main downside to this account is that you earn only 0.50% for balances under $10K (except for the first 60 days). So this may not be an account you'll want for the long term. 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.