bank rates

Summer’s Best Giveaway: An iPod touch

Here’s the best giveaway we’ve seen this summer – a free iPod touch for opening a new checking account at Bank of the West.

The offer is available to residents of 19 states from Wisconsin to California (see the list at the end of the post) and is good through Sept. 3.

To qualify for the iPod you must open one of three types of personal checking accounts, establish a monthly, recurring direct deposit of at least $500, and pay 10 bills online or make 20 debit card transactions.

The least expensive iPod touch, with 8 gigabytes of memory, retails for about $200.

The three checking accounts to choose from are:

Free Checking with no monthly service charge, no minimum balance and online banks with free bill pay and unlimited use of Bank of the West ATMs.

Choice Interest Checking that pays (very little) interest on your balance and charges a $10 service fee if certain requirements aren’t met.

Choice ATM Checking provides free unlimited cash withdrawals at any ATM for one year and imposes a $10 service charge if requirements aren’t met. (But it’s only available to residents of Arizona, California, Colorado, Minnesota, Nevada, New Mexico, Oklahoma or Oregon.)

Since Free Checking comes with the fewest requirements, it appears to be the best account for the majority of applicants.

Interest checking pays so little interest it’s probably not worth the effort. The top rate of 0.50% APY is only available on accounts with balances over $50,000.

Be sure to read the “more details” link under each account, so you will know what is expected of you as an account holder.

Accounts can be opened at Bank of the West branches or online by residents of Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming.

Beats a toaster in our book.

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Comments (9)
1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 4.50 out of 5)
9 Existing Comments
  1. Sean said:
    on August 9th at 02:00 pm

    I believe it is one of the three options in order to get the iTouch. I have a contact with the bank and have already opened the account.

  2. Tracy said:
    on August 11th at 03:12 pm

    It’s easy to open a new account. The customer service is good. It’s sad because the promotion is only one Ipod per household. I’m doing the 20 debits transaction and hope I can get the Ipod as it’s promoted.

  3. C.K. said:
    on August 13th at 03:17 pm

    I am curious if it will be a old gen or new gen ipod touch. What do you guys think?

  4. Sean said:
    on August 14th at 10:41 pm

    I would assume it is a newer generation ipod..because it is valued at 199.99 retail….and for older generations you can pick those up for way under that. I will contact my contact at Bank of the West and re-post here. I have a personal rep that handles my account at Bank of the West becuase of our business accounts.

  5. Sean said:
    on August 19th at 10:45 pm

    Last chance for this is tomorrow (8/20/10). I got a call from my rep and she indicated that the deal is being shortened due to demand. So get in there tomorrow and sign-up.
    Good luck.

  6. sam said:
    on September 7th at 04:41 pm

    When they say “20 debit transactions” — is that paying for transaction using debit through mastercard (no pin), or is it paying debit using pin?

  7. Jen said:
    on September 12th at 01:23 am

    Very disappointed in this offer, we banked with them over 5 years ago and didn’t qualify for the offer “because we were still in the system”.

  8. Jeremy said:
    on October 14th at 05:51 pm

    What generation ipod and what size? because people are saying they are giving the 3rd gen 8gb ipod touch but there is no 8gb, they didnt make an 8gb?!?!?!?!?!?!?

  9. CrankySaver said:
    on October 18th at 11:23 am

    Actually, Apple did make a 3rd gen 8 gb ipod touch. Here’s the cnet review:

    But this deal ended in August, so it doesn’t really matter.