PerkStreet Financial is offering a sign-up bonus of $25 for opening its checking account. The bonus isn't much, but it's an easy bonus to get. Here are the requirements listed at PerkStreet Financial's website:
Open your account online by December 31, 2010 and fund the account with $25 or more. Once your account is opened we will credit $25 to your Perks Account within 7 business days.
The promo is listed on PerkStreet Financial's home page as of 12/12/2010.
In addition to the cash bonus, there's a debit card cash back bonus for the first 3 months. Here's how PerkStreet Financial describes this:
earn 2% cash back for all non-PIN debit card purchases you make for the first 3 months starting on the day that your account is opened. A month is defined as a 30 day period - not a calendar month. There is no limit to the total amount you can earn.
The standard cash back program has the following features:
- 5% cash back when you shop at stores included in categories that change monthly
- 2% cash back everywhere for the days your checking account balance is at least $5K
- 1% cash back for all other cases
Debit card purchases must be signature-based without using your PIN. There are also some limitations on the purchases that qualify. According to the disclosure, the following are not qualifying purchases:
Purchases of currency, cash or cash equivalents are not Qualifying Purchases and includes, without limitation, currency from the U.S. Mint, travelers cheques, gift cards, prepaid debit cards or other cash equivalents.
I reviewed the 5% cash back feature in October. For more details of the checking account, please refer to my PerkStreet Financial account and bonus review. The downside of the checking account is that it earns no interest. Also, there's a $4.50 monthly fee if there are no transactions during the month.
Why PerkStreet Financial?
PerkStreet Financial's checking account will mostly appeal to those who prefer debit cards over credit cards. If you maintain a sizable balance in your checking account, you may earn more with a checking account from Alliant Credit Union or Incredible Bank combined with PenFed's Visa Platinum Rewards Credit Card. If you have a sizable balance and prefer a debit card, you may earn more with a high-interest reward checking account.
According to the PerkStreet Financial's website, banking services are provided by The Bancorp Bank which is a FDIC member. The Bancorp Bank has a been a FDIC member since 2000 (FDIC Certificate # 35444).
Other Bank Bonuses
To find other bonus deals at other banks and credit unions, please refer to the bank bonus page which has all of my recent bank bonus blog posts. There are also additional bonuses listed in the checking account deals forum.