Friday, February 10, 2006

$50 visa GC for 2k cd account in netbank

This offer is for existing customer only. You can find the details when you login in your netbank account and click on your special offers link. To be eligible to get $50 bonus, you must open a one year CD account with a minimum deposit of $2000. The expiration date is 3/31/06. With the $50 GC, the real apr becomes 7.25%.
Check out the other two post of mine about netbank:
link 1
link 2

7 Comments:

At 1:34 PM, Anonymous wesleman said...

Hi, I just opened my NetBank accounts in response to that $75+$75+$25 promotion. From what I read at their site (and here), it sure takes a LONG time for funds to be transferred there (like almost a week). What's your personal experience on this so far (for both transferring into and transferring out of NetBank)? Also, I don't believe you must sign up for their "BillPay" function, right (because of potential fees due to inactivity)? Last but not least, from their "T&C", it says that NetBank won't charge monthly service fee on regular money market account with online statment only option. I can't recall it is mentioned anywhere else. Does this ring a bell to you? I sure hope I don't have to keep $500 in their MM in order to waive the monthly service fee (other than qualifying for the $75 promotion of course).

 
At 10:32 PM, Blogger circle said...

I openned the accounts in Netbank just for the bonus. So I didn't do any transfer other than the initial deposit.
Yes, you are not required to sign up for the billpay. And as far as I know, you should keep $500 banlance in your MM in order to waive the fee. Otherwise there is $5 service fee. with the online statement option, you just get waived of $3 paper statement fee. Can you give me a link of the T&C you mentioned?

 
At 4:17 AM, Anonymous wesleman said...

Did you just transfer the required $500 (to checking) and $1500 (to MM) to NetBank and left it there ever since?

Here is the link I got thru iBankDesign https://secure.netbank.com/cgi-bin/fulfill?p=pro383

Now, if you scroll down near the bottom and look for "See Rules and Account Terms for:", you'll find this link to the T&C for their MM accounts here: https://secure.netbank.com/cgi-bin/fulfill?p=pro_disc_moneymrkt

In the fourth bullet under "Rules and Account Terms", there is this: "NetBank does not charge a monthly service charge on the NetBank Standard Money Market Account with online account statements."

Though the following sentence reads: "On the NetBank Standard Money Market Account, and on the NetConnect Silver Money Market account, NetBank charges a monthly service charge of $5 a month when an average daily balance of $500 or less is maintained."

What do you think they really meant then?!

 
At 11:05 AM, Blogger circle said...

I transfer the money to my checking after one month and write a check to myself. Now I have only 20 dollars in checking and 500 dollars in mm account. As for the fee, the T&C is really confusing. I checked their owm website and didn't see any statement about free charge for on line statement account. I remember it's for checking account. And I do know that somebody was charged $5 for low balance. But you may call them to make sure.

 
At 2:34 AM, Anonymous wesleman said...

Well, I only transferred $100 to the MM account upon opening but I'll transfer more later to meet the $500 min. bal. requirement for the following month. As for this month, I guess I'll be the guinea pig and see if I'll get dinged for the $5 service charge. Will report back! :)

 
At 1:55 PM, Blogger circle said...

You are really good. You may try to argue it back based on the contents in that link if you get dinged. Let's see what will happen. But I just want to remind you that you need keep a balance of $1500 for one month to get the bonus. Good luck. They have $15 bonus for bill pay once in a while. Check the special offer link frequently when you login in your account.

 
At 1:00 AM, Anonymous wesleman said...

Thanks for the reminder. I'm waiting until after tax day and my other bank bonus deals are over, then it'll free up the $2K (500+1500) needed for the NetBank bonus.

Now, if I can only comment on how long it takes for a NetBank online transfer to happen!! It sure makes transfers to HSBC seem "quick"!

 

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