Update 5/12/2011: This promotion has ended. The latest iPod touch promotion is at KeyBank. Please refer to this iPod touch bonus post for more details.
The Bank of Greene County is offering a free Apple 8GB iPod touch for opening any personal checking account and for performing the following two activities:
- Sign up for direct deposit
- Use the Visa Check Chard twice
The offer is scheduled to end on 9/30/2010. Below is a copy of the offer's small print:
Direct deposit transactions include payroll, Social Security, pension, and government benefits. Qualifying debit card transactions must be signature-based. Limit one iPod touch per household. Bank employees and their families are not eligible. The value will be reported on a Form 1099. This promotion applies only to new checking accounts. Must redeem before September 30, 2010. The Bank may discontinue this offer at any time without notice.
One problem with checking account bonuses that are gifts rather than cash is that you could pay more taxes if the bank reports the gift to have more value than it's really worth.
The bank also offers the e-Checking and e-Savings accounts that pay 5.00% APY. However, this rate only applies to balances up to $1,000. Balances over that only earn 0.50%. If you maintain a total of $2,000 in these two accounts, you'll make $70 more each year compared to a 1.50% savings account.
A branch visit appears to be required to open accounts. Branches are located in the New York cities of Catskill, Cairo, Ghent, West Coxsackie, Hudson, Greenville, Ravena, Tannersville and Westerlo.
The bank's overall health score is 3 out of 5 at DepositAccounts.com based on 3/31/10 data (see our financial overview for Bank of Greene County). The bank has been a FDIC member since 1974 (FDIC Certificate # 21591).
Credit for this find goes to this iBankDesign forum thread.
Other Checking Account Bonuses
If you can't qualify this iPod bonus at the Bank of Greene County, check out the iPod touch promotion at Bank of the West. This Bank of the West promo is scheduled to last until 8/20/2010.
To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts. Additional bonuses are listed in the bank deals forum.