bank rates

Bank Transfer Day: Get Paid For Banking

Some banks and credit unions are seizing upon Bank Transfer Day as a marketing tool.The big banks all might have surrendered on debit card fees, but that doesn’t mean the competition is letting up.

Bank Transfer Day is alive and well.

And it’s pretty easy to find a local bank or credit union more than willing to take your money and perhaps pay you for the privilege.

Here are a few local institutions that are using the backlash against the nation’s largest banks as a marketing tool:

  • GTE Federal Credit Union (www.gtefcu.org), based in Tampa, Fla., will pay anyone who opens a checking account between now and Bank Transfer Day — that’s Nov. 5 — $5 per month for a year. The credit union has about two dozen locations in the Tampa Bay area.
  • In nearby Lakewood Ranch, Fla., Community Bank & Co. (www.communitybanknow.com) will pay new customers who open a Value Checking account with direct deposit $5 a month for a year. “We needed to do something to help consumers who are under attack from behemoth national banks charging fees that just don’t make sense,” President Katie Pemble said in a statement. The bank has 17 locations in west-central Florida.
  • The Peoples Savings Bank of Urbana, Ohio (www.thepeoplessavingsbank.com), will pay customers $5 per month to use their debit cards in November, December and January. In a statement, President Brice Kadel said community banks are against debit card fees, so “to demonstrate opposition to these fees and the important advantages of community banks over large megabanks, we chose to do something fundamentally different.” The bank has two branches in Ohio.
  • In San Diego, Mission Federal Credit Union (www.missionfed.com) will pay customers 25 cents every time they use their debit card through the end of the year, and they can earn up to $5 per month.
  • Randolph-Brooks Federal Credit Union (www.rbfcu.org) in San Antonio was already paying members 10 cents each time they used their check card. But through year’s end, members will receive 15 cents back on each check card purchase.

These are just a few of the examples. Check your local bank or credit union to see if it is offering any deals in conjunction with Bank Transfer Day.

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Comments (5)
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5 Existing Comments
  1. steve swinehart said:
    on November 3rd at 10:45 am

    Consumers CU has a $50.00 sign up bonus and pays 4.09% on it’s RCA. Anyone can join and it’s available nationwide.
    Email me for a referal and i will pay you an additional bonus of $10.00.

  2. steve swinehart said:
    on November 3rd at 10:46 am

    And they promise to keep the 4.09% rate thu June 2012

  3. steve swinehart said:
    on November 3rd at 10:47 am

    email to pdx2iah@aol.com

  4. James said:
    on November 5th at 04:56 am

    Ahhh interesting, especially since we hear BOA is, or at least was trying to do all of its shenanigans.

    Thanks

  5. A.Bundy said:
    on November 9th at 09:26 pm

    its hard to move to a CU…you usually have to partake in some sector like education or firefighter, etc. to be eligible to join. many that accept new accounts from anyone dont have better rates to offer than the big banks. and CU’s have very few branches if any.