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Banking 101: HRA vs. HSA - What's the Difference?$300 Checking Account Bonus at Dime Bank in New York
POSTED ON BY Ken Tumin
Dime Savings Bank is offering a checking account bonus in which you can earn up to $300. The promo is listed on their home page (impossible to miss). The promotion is scheduled to last until 11/15/09. The $300 bonus is for the Prime Dime Rewards Checking. A smaller bonus of $225 is for the Dime Rewards Checking. I had to look closely to read the fine print. Below are the important parts for the $300 bonus:
Details of the Prime Dime Rewards Checking are listed in this account disclosure. Two important details include:
The bank also some fairly competitive special CD rates. These include a 3.30% APY 5-year CD and a 2.50% APY 3-year CD as of 9/17/09. When I called Dime Savings last March about a similar promotion, I was told that the special CDs were available to people in any state. If you're interested in these CDs, I recommend calling Dime Savings at 800-321-DIME (3463) for the latest instructions.
Dime Savings' branches are located throughout the Greater New York metro area.
Dime Savings Bank has some solid financial ratings for safety and soundness: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). It has been a FDIC member since 1943 (FDIC Certificate # 16012).
Thanks to the reader Scott who mentioned this special in the Bank Deals hub page.
Other Bank Bonuses
To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.
- $100 for account opening (paid at the time of account opening)
- $100 for setting up monthly recurring direct deposit
- $100 for completing two online bill payments
- If you close your account within 6 months of the opening date, any bonuses paid will be deducted at the time of account closing.
- Bonuses will be paid for new checking customers only.
- Bonus accounts are limited to one per household.
Details of the Prime Dime Rewards Checking are listed in this account disclosure. Two important details include:
- Rates: 0.25% APY for under $5K, 0.50% APY for $5K to $25K
- $15 monthly maintenance fee if average daily balance is under $5,000
- Non-interest bearing checking account
- $12 monthly maintenance fee if average daily balance is under $2,500
The bank also some fairly competitive special CD rates. These include a 3.30% APY 5-year CD and a 2.50% APY 3-year CD as of 9/17/09. When I called Dime Savings last March about a similar promotion, I was told that the special CDs were available to people in any state. If you're interested in these CDs, I recommend calling Dime Savings at 800-321-DIME (3463) for the latest instructions.
Dime Savings' branches are located throughout the Greater New York metro area.
Dime Savings Bank has some solid financial ratings for safety and soundness: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). It has been a FDIC member since 1943 (FDIC Certificate # 16012).
Thanks to the reader Scott who mentioned this special in the Bank Deals hub page.
Other Bank Bonuses
To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.
if you were to keep 2500 in a 4% high yield checking account, you'd earn $50 in interest (before taxes).
it seems to me that a 6 month return of $225 beats $50...
or is my thinking illogical?
"Direct Deposit Requirement – Direct deposit of payroll, pension, or government benefits or use of Dime’s online bill payment services must be maintained each month to remain eligible for this account type. If this requirement is not maintained, you may be required to close the account upon 30 days written notice."
their sign up process is a bit less automated than some. like most, you have to fax or mail a copy of your drivers license AND also a proof of current address like your utility bill; they don't need to be notarized. the funding process accepts ACH but it is not instantaneous; they first peform a trial deposit test you must verify. you don't get immediate access to web banking or a signon id like most.
i attempted to reach a phone rep twice and waited on hold forever so may not be so hot if you actually need a life person to yak at. the promo page says call for details, but you don't need to call to get the promo awards, just signup online.
if your actually considering a new checking account, the prime one seems decent with ATM refunds and offers .5% interest which is about what is norm, so i imagine it would be competitive when rates don't suck so hard, if that time ever comes again ;)
i encourage you remember to keep bankingguy in your thoughts when pulling home these great interest rates or bonuses - he has a donation page....
Customer service seems to be non-U.S. even though they are based in Brooklyn,NY.
They mismanaged my online application so badly that it took over two weeks.
After many delays in processing, they finally approved my account, but while waiting for final ach funding, some Dime representative called me to say that there were too many inquiries on the credit history they had already checked.
Not only is this not true, but it is irrelevant since my credit history/rating is absolutely clean with no negative events.
Apparently someone had a grudge, and was retaliating for my complaining about the mismanaged processing of the application.
It was already approved and then they unapproved it.
$300 bonus or no, save yourself some grief, and avoid the time wasting mismanagement of DIME SAVINGS BANK OF WILLIAMSBURGH-
It still shows 11/15/2009.