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Hot Bank Deals When Banks Make Ad Mistakes


Have you been able to get good deals at banks due to their ad mistakes? Every once in a while a bank will advertise a deal with a mistake. Often this is a newspaper ad. A recent example is an ad that First Republic Bank published in last Sunday’s San Francisco Chronicle. The ad listed a 2% CD with a 2-year term. When I called the bank on Monday I was told that the 2-year term was suppose to be listed as a 5-year term. One branch that I called refused to honor the ad, but another one that I called said they would honor it but only for Monday.

Bank ad mistakes like the one described above occur every now and then. I remember back in the early 80's a bank made a mistake in their newspaper ad. They listed a 16% CD with a term of 10 years. It was suppose to be a much shorter term. Fortunately, they honored the ad for my parents, and this CD turned out to be a very good investment.

Have you received a good deal due to a bank making a mistake in their ad? Do you have any tips to share?

I thought of a few tips that may help you receive an advertised deal that has mistakes.

First, go directly to a branch manager, and if possible, go in person with a copy of the ad. A branch manager often has the authority to offer you more than what’s officially available.

Act quickly. Banks are more likely to honor a bank ad mistake if you visit a branch soon after the ad is published.

Check multiple branches. Some branch managers may be more open to honoring the mistaken ad.

Don’t be greedy. The bank may change their mind in honoring the ad mistake if your deposit is too large.

Finally, it’s important to remember that what you see on the web may not be an ad. For example, it could be an old blog post that doesn’t have a date. The bank shouldn’t be expected to honor a rate that’s listed like that. If the mistake is on the bank’s website, take a snapshot of the bank’s website to prove it’s the bank’s fault.

If you have any additional tips, please leave a comment.



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