TD Bank is offering an Flip Ultra Camcorder when you open a checking account, make 8 debit card purchases and use online bill pay 2 times within 45 days of account opening. The expiration date is June 5, 2010. The offer is listed at TD Bank's home page, and the details are described in TD Bank's promotions page.
There's an online application, but it only allows applications from states where it has branches. This includes the following states: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont, Virginia and Washington DC.
Credit for the find goes to FW member BrianGA who mentioned it in this FW thread. As mentioned in this thread, the retail value of the camcorder will be reported to the IRS. Also, the real value of the camcorder is around $100. So these issues hurt the deal unless you were planning on buying this camcorder.
TD Bank is part of the bank holding company Toronto-Dominion Bank which is Canada's second largest lender. On April 16th, TD Bank acquired three Florida banks that were shut down by regulators (see post). TD Bank has been a FDIC member since 1961 (FDIC Certificate # 18409).
Other Bank Bonuses
To find other promotions at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts.
Connecticut Deposit Account Rates and Deals
Browse through the stories below to view current deals for Connecticut banks or select an item from the menu bar above to view current rates in Connecticut.
Sovereign Bank is offering two deposit promotions. One is a $150 bonus for opening a checking account. Unlike the past one, it does not require direct deposit. The second promotion includes a 2.00% 6-month CD. This may sound like a great deal, but you also must open a 36-month CD with the same amount, and that rate isn't listed. These promotions are scheduled to expire on May 28, 2010. The promotions are listed at Sovereign's home page. Here's the link to the promotions page.
First, here are the requirements for the $150 checking account bonus:
- Open a new Sovereign Premier Checking, Business Owner Premier Checking, Interest Checking, or Partnership Checking account by May 28, 2010, with a minimum opening deposit of $100
- Open any new Sovereign savings or money market savings account with a minimum opening deposit of $100 or already have any Sovereign savings or money market savings account
- Enroll in Online Banking at account opening
- Request a Sovereign Debit Card at account opening and make 5 Debit Card purchases within 60 days after you open your account
- Request a Sovereign Debit Card and make 5 Debit Card purchases within 60 days after you open your account
When you qualify, you will receive a credit of $150 to your new checking account within 75 days after you open your checking account.
Some important small print:
- Offer available only to residents in the following states: ME, VT, NH, CT, RI, MA, NY, NJ, PA, WV, MD, DE, and District of Columbia.
- The amount of the bonus credited to your account will be reported to the IRS as interest
- Current personal checking customers or anyone who has had a personal checking account with Sovereign Bank in the last 6 months are not eligible for this offer.
An important note regarding the Interest Checking is that direct deposit is required to avoid a $10 monthly fee. I'm not sure if ACH transfers may count. On the plus side is that they provide free checks. The Premier Checking is even worse in terms of potential fees. A $15,000 combined balance is required to avoid a $30/month fee. For the savings accounts, the Money Market Savings appears to be a good choice since it has no monthly maintenance fee and no minimum balance requirement. Note, the monthly fees and minimum balance vary considerably based on your state.
The CD Promotion
At first glance the CD promotion looks like a good deal with a 2.00% APY 6-month CD. However, as I mentioned at the top, it requires half the money go into a 36-month CD, and the rate isn't disclosed. A very high rate on a 6-month CD doesn't offset a low rate on a 36-month CD. Here's the important small print:
Minimum deposit of $5,000 and a maximum deposit of $499,999 to open a Save & Invest CD Package, which must be opened on or before June 4, 2010. Half of your opening deposit, or at least $2,500, is placed in a Save CD, which is a 6-Month certificate of deposit account. Your Save CD will earn interest at a rate of 1.98%, which corresponds to an annual percentage yield (APY) of 2.00%. The remaining half of your opening deposit is placed in an Invest CD that matures on June 14, 2013.
When I called Sovereign Bank in April 2008 regarding a similar checking promotion, I was told that there's no account closure fee if an account is closed after 90 days. Otherwise, it's $25. The CSR also said they don't perform a hard credit inquiry. They just use ChexSystem in the application.
There's an online application link in the promo page for the checking. However, the small print states that residential addresses must be located in the northeast states (see above). The CD promotion appears to require a branch visit.
Branches are located in the Northeast in the states of Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. The bank is a FDIC member (FDIC Certificate # 29950).
Other Bank Bonuses
Please refer to the Bank Bonus page for the other bonuses at banks and credit unions around the nation.
NewAlliance Bank is offering a up to $150 for opening a personal checking account and completing certain online banking activities. The promotion is listed at the bank's promotion page as of 4/18/2010. Here are the details:
- Earn $25 for completing 10 signature debit card transactions
- Earn $25 for setting up and receiving $500 in direct deposits
- Earn $25 for enrolling in Bill Pay
- Do all three by July 31, 2010 and the bank wil double the payout to $150
Some important small print:
- You must open a new personal Free Checking account by 06/30/10 with a minimum of $50
- The bonuses will be credited to your NewAlliance personal checking account by 09/15/10
- This is a limited time offer that can be withdrawn at any time
- It has a maximum bonus of $150 per household
Existing customers can also qualify, but there are certain restrictions. Refer to the bank's small print for the full details.
It appears that a branch visit is required for this promotion. Branches are located throughout Connecticut, and in South Central Massachusetts.
The bank is also offering a good deal on a long-term CD (see review).
The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1960 (FDIC Certificate # 18261). It's a sizable bank with $8.4 billion in assets.
Other Bank Bonuses
To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts.
NewAlliance Bank is offering a very competitive 5-year CD rate of 3.50% APY. Minimum deposit is $1,000, and a checking account is required. This CD is listed in the bank's CD rates page as of 4/18/2010. The other CDs are not quite as competitive. These include a 1.40% APY 15-month CD and a 2.00% APY 30-month CD. These are also available in an IRA.
The bank has an online application (via andera.com), but it states that they only accept deposits from Connecticut or Massachusetts residents. In the application, they have a link to the account disclosure. The disclosure points out a major downside with the long-term CDs:
For CDs with an originally scheduled term of three (3) years or more, the fee we may impose will be equal to one half of the interest that could have been earned on the amount withdrawn at the rate being paid on the deposit from the date of early withdrawal to the Maturity Date.
Based on my interpretation of this, if you make a withdrawal 2 years before maturity, you'll lose 1-year of interest. This is much worse than the typical 6-month early withdrawal penalty.
There's also a Premium Money Market Account special that pays 1.50% APY on balances of at least $50K. This is listed in the bank's specials rates page as of 4/18/2010. Note, the small print states that the rate is 1% APY for up to $50K and 1.50% APY for $50K. Note, this requires a checking and there are potential monthly fees. Also, there's no guarantee about how long this rate may last.
Branches are located throughout Connecticut, and in South Central Massachusetts.
The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1960 (FDIC Certificate # 18261). It's a sizable bank with $8.4 billion in assets.
Best 5-Year CD Rate
It used to be fairly easy to find a 3.50% yield for a 5-year CD. This ended in April, and now it's hard to find. The best nationwide 5-year CD rate from a bank is currently 3.30% APY at EverBank. The best nationwide deal is currently at Fort Knox FCU which is offering 3.50% APY.
To find other high CD rates that are available by state or nationwide, please refer to the CD rates section of DepositAccounts.com.
Are long-term CDs a mistake now? I discussed the issue in this post.
INOVA Federal Credit Union is offering a special 4-year CD with a 3.00% APY. This is also available as an IRA with a 3.10% APY. These rates are listed on the credit union's front page as of 4/11/2010.
The credit union also has a high-yield reward checking account (see review).
Membership
Credit union membership is primarily based on employment or membership in one of many organizations. Refer to the credit union's become-a-member page for more details. On the front page there's a "Join Now" link at to top left of the page. This link takes you to an online application provided by loanspq.com. One of the options for eligibility listed in this application includes:
You may elect to join one of the approved not for profit organizations such as Cass County Conservation Club or the Elkhart River Restoration Association.
The online application allows you to select the 4-year CD. You are also required to open a savings account with a minimum balance of $5.
Credit Union Overview
Branches are located in the Indiana cities of Elkhart, Michigan City, Mishawaka and Granger. Other branches are located in Berkeley, California; Tarrytown, New York; Orange, Connecticut; Clayton, North Carolina; and Morristown and Wayne, New Jersey. It's also part of the Credit Union Service Center which allows you to perform basic transactions at branches of other credit unions around the nation.
According to the credit union's About page
Established in 1942, INOVA FCU was originally chartered to serve the employees of Miles Laboratories.
According to Wikipedia
Miles operated as an independent firm from 1884 until 1979 and as a wholly-owned subsidiary of Bayer AG from 1979 until 1995, when it was consolidated into the parent corporation.
The credit union's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 12/31/09 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/09 data). The credit union is federally insured by the NCUA (Charter # 4968).
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com. The tables now have a new & improved format!
INOVA Federal Credit Union is offering a high-yield reward checking account called Ovation Checking. The account pays 4.00% APY on balances up to $20,000 if the following monthly requirements are met:
- 15 signature-based debit card purchases
- Direct Deposit $200 or more
- E-statements
- $1,500 minimum balance
I can only see the top rate listed at the credit union's front page as of 4/11/2010. I don't see rates for over $20,000. According to the checking page, balances over $20,000 will revert back to the checking dividend rate.
Unlike most reward checking accounts, there doesn't seem to be any ATM fee refunds. Free ATMs are available at Alliance One or CO-OP network ATMs across the nation. Note, there's a $1 fee for not only at foreign ATMs but also for making PIN-based debit card purchases.
Membership
Credit union membership is primarily based on employment or membership in one of many organizations. Refer to the credit union's become-a-member page for more details. On the front page there's a "Join Now" link at to top left of the page. This link takes you to an online application provided by loanspq.com. One of the options for eligibility listed in this application includes:
You may elect to join one of the approved not for profit organizations such as Cass County Conservation Club or the Elkhart River Restoration Association.
The online application allows you to select the Ovations Checking Account. You are also required to open a savings account with a minimum balance of $5.
Credit Union Overview
Branches are located in the Indiana cities of Elkhart, Michigan City, Mishawaka and Granger. Other branches are located in Berkeley, California; Tarrytown, New York; Orange, Connecticut; Clayton, North Carolina; and Morristown and Wayne, New Jersey. It's also part of the Credit Union Service Center which allows you to perform basic transactions at branches of other credit unions around the nation.
According to the credit union's About page
Established in 1942, INOVA FCU was originally chartered to serve the employees of Miles Laboratories.
According to Wikipedia
Miles operated as an independent firm from 1884 until 1979 and as a wholly-owned subsidiary of Bayer AG from 1979 until 1995, when it was consolidated into the parent corporation.
The credit union's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 12/31/09 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/09 data). The credit union is federally insured by the NCUA (Charter # 4968).
Other High-Yield Reward Checking Accounts
The 4% APY is nice, but the $20K balance cap and the 15-per-month debit card requirement hurt the deal. Most reward checking accounts have a $25K cap and require no more than 10 debit card purchases per month (although this seems to be trending up).
Refer to the reward checking section of DepositAccounts.com to find reward checking accounts in your state or that are available nationwide.
People's United Bank is offering a $100 bonus for opening a checking account with direct deposit. The promotions page is located at www.peoples.com/100. Here's the important small print:
- The cash reward applies only when a "New Customer" opens a new personal People's United checking account with Direct Deposit between 4/1/10 and 5/21/10.
- The minimum deposit to open the account and earn the reward is $25.
- Limit of $100 in reward money per household.
- Qualifying New Customers' accounts will receive the reward credited to the checking account by 7/30/10.
- Reward will be subject to tax reporting
- New Customer must receive at least one direct deposit of $100 or greater into the checking account within 45 days of account opening.
You can avoid a monthly fee on the bank's Plus Checking Account with one of the following: 1) direct deposit, 2) 65 or over, or 3) $100 minimum daily balance.
The instructions give two options to open an account: 1) at a branch or 2) by phone (1-800-772-1090). It appears to be a local deal. People's United Bank has branches throughout Connecticut. Also, the bank has branches throughout Vermont, New Hampshire, Maine, Massachusetts and New York under several bank divisions:
- Chittenden Bank
- Flagship Bank
- Maine Bank & Trust
- Merrill Bank
- Ocean Bank
- The Bank of Western Massachusetts
People's United Bank has been a FDIC member since 1988 (FDIC Certificate # 27334).
Credit for this find goes to this SD thread.
Other Bank Bonuses
To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts.
Citizens Bank has a checking account promotion in which you can earn $100. The details of the checking account bonus are listed at www.citizensbank.com/220. Offer ends 3/26/2010. The requirements to earn the $100 include:
- $50 for setting up direct deposit of $250 or more
- $25 for making 5 online bill payments
- $25 for making 5 signature-based debit card or credit card purchases
Some important details mentioned in the small print includes:
Requirements must be met by 4/30/2010. Bonus will be deposited into the checking account by 6/30/2010 and reported to the IRS. Checking account must remain open for at least 6 months or the amount of the banking bonus will be debited from the account at closing.
The Green Checking qualifies for this bonus, and it's a free checking account with no monthly fees. Minimum opening balance is $50.
The Green Checking also qualifies for the Green$sense program. Citizens Bank says you can get paid up to $120 per year in Green$ense. However, this would require 100 debit card purchases, online bill payments or automatic payments per month for 12 months. For each of these non-paper transactions, Citizens Bank pays you 10 cents. Since this is considerable work, I'm not including this $120 in the bonus amount.
This is very similar to the promotion the bank was running late last year. One small change is that they now require a minimum direct deposit of $250 instead of $50. In that post, a reader mentioned that there's a hard pull in the application.
There's an online application at the promotions page. However, it only accepts zip codes in their market area. Their market area includes Connecticut, Delaware, Illinois, Indiana, Kentucky, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont.
Citizens Bank operates under two FDIC charters: Citizens Bank of Pennsylvania (FDIC Certificate # 57282) and RBS Citizens, N.A. which has branches in several states outside of PA and NJ (FDIC Certificate # 57957).
Other Bank Bonuses
To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.
Update 8/22/10: The promotion has been extended to last until 10/11/2010.
Webster Bank is offering up to $100 for opening a checking account and with some additional requirements. Details are listed in the bank's promotions page. Three different bonuses are available for three different checking accounts:
- $25 for Totally Free Checking
- $50 for Relationship Checking ($4K minimum balance to avoid $15/mo fee)
- $100 for Premier Checking ($10K minimum balance to avoid $20/mo fee)
Offer is scheduled to end on 3/01/2010. One of the following is required to be done by 4/16/2010 to qualify for the bonus:
- One Direct Deposit (PayPal transactions are excluded), OR
- 5 Visa Check Card Signature purchases, OR
- 5 online Bill Payments
If you meet the above requirements, the bonus will be transferred into the newly-established checking account by 5/14/10. Bonus amount will be reported to the IRS.
According to the small print, the offer is limited to residents of NY, MA, RI and CT. It appears that you can open the checking account online. The first page of the application has a box for the offer code, but I don't see a code mentioned in the promotions page. Opening at a branch may be easier. Branches are located in Southern New England and Westchester County, New York. Most of its branches are located in Connecticut.
The bank has been a FDIC member since 1960 (FDIC Certificate # 18221).
Credit for this find goes to Bank Perks.
Other Bank Bonuses
Refer to the Bank Bonus tag for the other bonuses at banks and credit unions around the nation.
Sovereign Bank is offering a checking and money market promotion in which you can earn a bonus of $150 and receive a 1.50% APY guarantee for 3 months in the money market account. The promo is scheduled to expire 3/13/2010. Here's the promo page link.
First, here are the requirements for the $150 checking account bonus:
- Open a new Sovereign Premier Checking, Business Owner Premier Checking, Interest Checking, or Partnership Checking account by March 13, 2010, with a minimum opening deposit of $100
- Open any Sovereign savings or money market savings account with a minimum opening deposit of $100 or already have a savings or money market savings account
- Enroll in Online Banking at account opening
- Set up and receive one direct deposit within 60 days of opening your account
- Request a Sovereign Debit Card and make 5 Debit Card purchases within 60 days after you open your account
When you qualify, you will receive a credit of $150 to your new checking account within 75 days after you open your checking account.
Some important small print:
- Offer available only to residents in the following states: ME, VT, NH, CT, RI, MA, NY, NJ, PA, MV, MD, DE, and District of Columbia.
- Direct deposits you initiate from an account at another bank do not qualify
- The amount of the bonus credited to your account will be reported to the IRS as interest
- Current personal checking customers or anyone who has had a personal checking account with Sovereign Bank in the last 6 months are not eligible for this offer.
- Current savings customers are eligible
An important note regarding the Interest Checking is that direct deposit is required to avoid a $10 monthly fee. On the plus side is that they provide free checks. The Premier Checking is even worse in terms of potential fees. A $15,000 combined balance is required to avoid a $30/month fee. For the savings accounts, the Money Market Savings appears to be a good choice since it has no monthly maintenance fee and no minimum balance requirement. Note, the monthly fees and minimum balance vary considerably based on your state.
Here are the requirements to qualify for 1.50% APY for 3 months:
- Open a new Premier Checking account and open a new Premier Money Market Savings account by March 13, 2010
- Bonus rate will apply for each day your balance is $10,000 to $499,999 and is guaranteed for 3 months from the date you open your account
Some important small print:
- Same geographic restriction as mentioned above
- Anyone who has had a Sovereign savings, money market savings, or personal checking account with Sovereign in the last 6 months are not eligible for the bonus rate
Unlike the checking account promotion, this requires a Premier Money Market Savings account. Details of this account are in the promo page (click more for this account in the promo page). The Premier Money Savings is free of minimum balance requirements and has no monthly fees as long as you have a Premier Checking account (which, as I mentioned, has its own fees)
When I called Sovereign Bank in April 2008 regarding a similar promotion, I was told that there's no account closure fee if an account is closed after 90 days. Otherwise, it's $25. The CSR also said they don't perform a hard credit inquiry. They just use ChexSystem in the application.
There's an online application link in the promo page. However, the small print states that residential addresses must be located in the northeast states (see above).
Branches are located in the Northeast in the states of Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. The bank is a FDIC member (FDIC Certificate # 29950).
Other Bank Bonuses
Refer to the Bank Bonus page for the other bonuses at banks and credit unions around the nation.