America Saves Week is an annual opportunity for organizations to promote good savings behavior and motivate individuals to save more successfully. The main theme is to set a goal, make a plan, and save automatically. Financial institutions are helping their customers save by promoting cash bonuses and great rates. Here are a few of the most interesting promotions offered by financial institutions:
• Marquette Bank is giving their customers three ways to start saving during America Saves Week. Customers who open a new YoungMarq Passbook Savings account for a child will get the initial deposit matched for up to $25; customers who open a new Marquette Bank Savings account will be entered to win a $150 MasterCard Gift Card; and customers who open a new Gold Money Market account with $100,000 in new money will earn 0.50% APY for 60 days. Click here for more information.
• Kinecta Federal Credit Union is offering five ways to get involved in America Saves Week. Customers who open a Kinecta savings account will get $10 and be entered into a drawing to win $500; customers who share their savings goal with Kinecta will be entered into a drawing for one of four $50 gift cards; customers who sign up for direct deposit will receive $5; customers who take the America Saves Pledge can join over 310,000 people who have already committed to save; and customers can test their savings knowledge by taking the savings quiz. Click here for more information.
• Randolph-Brooks Federal Credit Union is supporting Military Saves Week, which is part of America Saves Week, and asking their customers to visit their Randolph branch for refreshments and giveaways. Customers can register for a chance to win a RBFCU Savings account credit of $25 in daily prize drawings, as well as a grand prize drawing for a $100 account credit. Click here for more information.
Bank of America launched new mobile banking products and service enhancements including Mobile Check Deposit, Person-to-Person Email and Mobile Transfers, and Mobile App Alerts. Person-to-Person Email and Mobile Transfers allow customers to easily conduct person-to-person transfers via online banking or smartphone, using only an e-mail address or mobile phone number. The new service is powered by clearXchange, the open payment processing network owned by Bank of America, Chase, and Wells Fargo. Click here for more information.
ING Direct’s new mobile check deposit service, CheckMate, is free and available to any ING Direct customer with an Orange Savings or Electric Orange Checking account. CheckMate provides two methods of deposit, an online image upload option and a mobile banking application for iOS and Android devices. CheckMate imposes limits of $3,000 deposited per check, $5,000 deposited per day, and 20 checks deposited per day. Click here for more information.
Chase released its Blackberry application which allows person-to-person payments as well as mobile check deposits. These two new features, called QuickPay and QuickDeposit, allow the customer to make money movement transactions to other people with an email address or phone number and make paper check deposits by taking a picture of the check with a smartphone and sending it to Chase. Click here for more information.
Union Bank launched a new service called the DTS® System to help corporate banking clients maximize the efficiency of their retail cash deposit process. It allows businesses to use online tools to track and reconcile bank deposits typically made from retail locations. Click here for more information.
In response to the Bank Transfer Day movement, several credit unions and trusts are offering extra incentives to encourage consumers to make the switch from their bank. In addition to extended hours and additional staff, credit unions and trusts are promoting cash bonuses and great rates. According to a survey by CUNA, at least 650,000 consumers have joined credit unions within the last four weeks (cuna.org). Here are a few of the most interesting offers celebrating Bank Transfer Day:
• WV United FCU Offers 11.5% CD Rate
New members who move their account relationships to WV United FCU will be eligible to open a 6-month CD with an APY of 11.5% on balances up to $2,000. To qualify, the new member must open a checking or debit account, initiate direct deposit of their paycheck, get a debit card, and move their auto withdrawals or utilize EasyPay bill pay. Click here for more information.
• American Heritage FCU Offers Cash Bonus
American Heritage Federal Credit Union is offering new members up to $130. New members who open a checking account by 11.30.2011 with direct deposit will earn $50 and an additional $50 for their first bill pay. They will also receive a $25 Independence Check Card reward and $5 e-Statement reward. Click here for more information.
• Cash Bonus Offer at MidFlorida Credit Union
MidFlorida Credit Union will have free drinks and snacks on 11.05.2011 to celebrate Bank Transfer Day. Additionally, new customers who open a checking account by 11.30.2011 and sign up for direct deposit of at least $500 will receive a $127 cash bonus. Click here for more information.
• Co-op Services Offers $105 for Switching
New Co-op Services customers who shred their bank debit card and open a free Co-op Services checking account with direct deposit, e-Statements, and debit card will receive $105. Click here for more information.
• Pactrust Bank Pays $60 to Switch
Customers who open a new Value or Market Checking account at Pactrust Bank by 12.31.2011 and use their debit card at least once a month for the first 12 month will earn $5 cash back every statement period they use their debit card. Click here for more information.