I found this on the Drugstore.com website that says you get up to $250.... I called the customer care rep at Netbank and they said they were unaware that they offered this much. I got an email later from them saying it was legit and for a limited time.
Disclaimer: you have to commit a lot money to get this bonus (15k into a CD) + open a checking account + a MMA account.
kappy6
Senior Member
posted: May. 19, 2006 @ 11:29a
Saw it when I logged on to Drugstore.com today - signed up for 2 of the bonuses - really easy to sign up. Only $1,000 for the MM and $500 for the checking. $75 each bonus.
Yunium
Tired Member
posted: May. 19, 2006 @ 11:39a
QUESTION: TO QUALIFY FOR THE BONUS...
Do you have to apply seperately for each account -- OR -- Can you apply for all 3 of the accounts at the same time through the same link?
kappy6
Senior Member
posted: May. 19, 2006 @ 11:48a
I wasn't sure, so I did the checking and the MM each through the link - just to be on the safe side. On the details of the offer - it just says you need to go through the link for the first account - but I'm a bit untrustworthy of these types of things.
If you have got the bonus from previous promition, you are not ellegible.
agarpiyush
Member
posted: May. 19, 2006 @ 1:11p
I have had terrible experience (as a few other Fatwalleters I believe) -- my money was locked up (probably coz I had moved a few days before apping for an offer with them). I was asked for Driver's license, notarized salary paystub etc etc. Pain in the butt really! Will never ever fall for these offers with Netbank again.
yomuppet
Ancient Member
posted: May. 19, 2006 @ 2:08p
Anyone know if they pull a credit report for these?
kappy6 said: Saw it when I logged on to Drugstore.com today - signed up for 2 of the bonuses - really easy to sign up. Only $1,000 for the MM and $500 for the checking. $75 each bonus.
Netbank did not do a hard pull when I opened my account a few weeks ago.
rajee
Happy Member
posted: May. 22, 2006 @ 2:43p
Quick question ... Looks like the Drugstore link is allowing for a nice low average balance of 500 bucks in checking to qualify for $75 ... (other offer mentioned something like 1500 required)..
For MM, the avg balance required is 1000 from what I understand ...
Now, I'm trying to crunch numbers. I understand that each account has a $7.50 closing fee .. is this regardless of when you close it or is it not charged if the account has remained open 'long enough'??? Also, what other fees are there to watch out for ... I think if you take the most basic checking there is no monthly fee.... There is a fee if you use bill pay less than a certain number of times (but you don't have to sign up for bill pay so there should be no fee in that case if you don't sign up right?)
As you can see, there is confusion ... either way ... with 1500 bucks put aside, there's a potential earning of $150 minus fees (which seem to be at least 15 bucks)... that would still be profit of $135 ... not bad at all...
Someone please enlighten me lol .. thanks...
Edited for more clarification (thanks to my OCD): So, it's apparently $25 to close an account before 6 months as well ... would the $7.50 also be charged? In that case its 150 - 25 - 25 - 7.50 - 7.50 .... at the end we're talking 85 bucks profit in 1 month on 1500 bucks... that's still pretty good deal ... although may not be worth all the hassle of moving money around - would anyone think of keeping the money in netbank for 6 months to retain the 25 per account?? I figure I make less than 50 bucks in interest on 1500 (more like 5 bucks in a month so about 30 in 6 months) ... so perhaps it's wiser to leave the money in there - but people's statements about Netbank are making me nervous lol So I think I'll take the $20 hit (ok, it's abit more cuz I'm not counting netbank's interest rate lol)... Comments??? Advice???
According to Netbank, if your ending balance is greater than $7.50 while closing, there is no fee, they mail out the check for entire amount to you. If less than $7.50 then no check will be issued.
Umm . . . you have to open all three to get the $250 — not a problem, except that one of the required accounts is a one year CD funded with $15,000. I (personally) wouldn't lock up $15k in a one year CD (let alone $1k) with the rates all over the map.
I'll pass.
Tytie
rajee
Happy Member
posted: May. 22, 2006 @ 7:45p
abaliga said: According to Netbank, if your ending balance is greater than $7.50 while closing, there is no fee, they mail out the check for entire amount to you. If less than $7.50 then no check will be issued.
So you're saying if I have my 500 bucks in the checking account and then close it with over 500 (extra from interest and the bonus) they will not charge the 7.50? However, being before 6 months, I guess they will still charge the 25?
Hoping someone has actually DONE this and can answer lol
jdopple
Senior Member - 1K
posted: May. 22, 2006 @ 8:59p
TYTBUDGET said: Umm . . . you have to open all three to get the $250 — not a problem, except that one of the required accounts is a one year CD funded with $15,000. I (personally) wouldn't lock up $15k in a one year CD (let alone $1k) with the rates all over the map.
I'll pass.
Tytie
Rates are hardly all over the map. Where do you think rates will be in a year? 6% , 8%, 23.5%?
The effective rate after a 100 bonus on 15k is about 5.8%. Very likely, you will not do much better , if any, over the next year in any CD or MM account.
Sure about $7.50 since I chatted with a CSR online and he confirmed it. As for $25 fee, I am not sure, I plan to keep the cash in there for 6 months.
rajee said: abaliga said: According to Netbank, if your ending balance is greater than $7.50 while closing, there is no fee, they mail out the check for entire amount to you. If less than $7.50 then no check will be issued.
So you're saying if I have my 500 bucks in the checking account and then close it with over 500 (extra from interest and the bonus) they will not charge the 7.50? However, being before 6 months, I guess they will still charge the 25?
Hoping someone has actually DONE this and can answer lol
Joe1690
Senior Member
posted: May. 22, 2006 @ 11:39p
I am a current NetBank customer and can't comment about the 7.50 closure fee as of today. But previously their terms and conditions stated that if the account had less than $7.50 the account closure fee would be $7.50. Now it just says $7.50 so it may be across the board regardless of your the amount in your account or it may only apply if you have less than $7.50 in your account. I would love to know the answer as well since NetBank's rates have continually become less and less competitve over the last 3 years.
rajee
Happy Member
posted: May. 23, 2006 @ 7:42p
Ok so I think I've figured this out ... someone correct me if I'm wrong. First of all, if you close an account with > $7.50 in it, you get the entire sum in check form. Therefore, you can do that and not worry.....
As for the 'before 6 month' fee ... that's 25 bucks....
So here's the math the way I did it... Put 500 bucks in Checking ... get the mediocre rate they give you for a month ... get 75 bucks .. pull out all but 7.50 or so after a month ... leave the 7.50 in there for 6 months and then close it out so you don't lose 25 bucks (interest "lost" by not moving your 7.50 back to a decent interest bearing account is a drop in the bucket compared to 25 bucks).
As for the MM, you put in 1000 bucks ... in a month you get your 75 .. you pull out 575 ish, leaving 500 in the account. Right now, the interest rate on NetBank's money market is give or take 1 % less than the rates at other banks for the most part.... here's where you decide what you want to do ... the 1% loss over five months is = 500 X .01 = 5 then divide by 12 and multiply by five and without bothering to be anal, it's about 50 cents a month for 5 months ... that's all you lose in 5 months by keeping it in Netbank for 6 months total ... but you preserve the 25 bucks you woulda lost by closing before 6 months.... so it probably behooves you to keep the 500 in the MMA and just think of it as a 6 month CD giving you about 5% return on 500 ... of course, at that rate then you could just stick it in a 6 month CD too which ING and stuff have good deals on right now lol
That's what I am thinking of doing ... Please point out flaws in my logic ... in the end I think you're up 150 more or less without losing much on "lost interest" since you put that 150 into your interest bearing account anyway within a month or so ...
How long does it take for the funds to show up on your accounts? I funded like 4 days ago, and even though funds are withdrawn from my other bank, it still not showing up on NetBank. I read on epinions about their bad sitting on your money practices. Anyone experiencing the same?
Nevermind my earlier comment. My funds showed up in 4 business days. Thats what it says on their website too. So all is good . Now wait for the 6 months to get interest, bonus and then bail out.
Truefan
Happy Member
posted: May. 29, 2006 @ 7:22p
The following answers most of you previous questions (courtesy of previous threads on NetBank):
1) Open checking account with $500 and MMA with $1,000 and wait for one month.
2) After one month draw checking down to $0.01 and MMA to $500.01 (minimum balances to avoid fees). You should get the $150 bonus after about one month after account opening.
3) Wait till 6 months from opening and close accounts and you won't get charged any closing or low balance fees.
rajee
Happy Member
posted: May. 29, 2006 @ 7:45p
Truefan said: The following answers most of you previous questions (courtesy of previous threads on NetBank):
1) Open checking account with $500 and MMA with $1,000 and wait for one month.
2) After one month draw checking down to $0.01 and MMA to $500.01 (minimum balances to avoid fees). You should get the $150 bonus after about one month after account opening.
3) Wait till 6 months from opening and close accounts and you won't get charged any closing or low balance fees.
Actually, you will lose some money if you do that.... You want to keep $7.50 in your checking account (or more) because there is a 25 dollar closing fee if you close an account with LESS than $7.50... Otherwise, it's free to close after 6 months... Please refer to my prior post for details..
nmcorp33
Senior Member
posted: May. 30, 2006 @ 7:51a
they do a hard pull on your credit just fyi even if you have a cd/account with them already
The checking/Money Market deal is the same as the one seen here.
That thread has a lot more detail and answers to most questions people are asking here.
-D
Joe1690
Senior Member
posted: May. 30, 2006 @ 10:26a
nmcorp33, I have several netbank accounts and have never received a hard pull on any of the accounts I opened from the day I started with regard to Equifax, TransUnion, or Experian. I do know that they recently checked my ChexSystems report and made an inquiry but since this is only used for banking it does not truly affect my credit score. Maybe because I am a long standing customer with decent assets with them they haven't completed a credit inquiry but who knows. I can only state my own personal experience which contradicts your experience.
expressfree
New Member
posted: May. 31, 2006 @ 9:43a
Can anybody sign in from the link ? I tried several time but half way after the acknowlege of all disclosure and the site server is busy.
kappy6
Senior Member
posted: May. 31, 2006 @ 10:07a
I signed in through the links awhile ago. Anyone know how long before the funds show up in your netbank accounts? Took a little over a week for the regular funds to show up - but the bonus fund haven't shown up yet, and it's been a few weeks.
newlybornfirestarter
Member
posted: May. 31, 2006 @ 10:59a
Does anyone know how long it takes to get $75 + $75 bonuses after account opening? I opened my accounts on April 10, but haven't received my $75 + $75 yet. Also, if you don't sign up for Online Bill Pay, you do not get charged for Online Bill Pay Inactivity right?
Guys, i know it's pretty trivial question but can anyone tell me how to fund both checking and saving accounts as soon as possible or Should I wait for the deposit slips to arrive? I do have citi account Bill pay settings but I am not sure if that's the correct way for doing this.
anandtechuser
Senior Member
posted: May. 31, 2006 @ 12:31p
Ok well i took the bait, i applied for all three i was accepted and put in 15k for 1 year cd, 1k in money market, and 500 for checking. This is the most money i spend in a day besides the tdameritrade account with 11k. Pretty cool to get free money 500 from td and now 250 from netbank.
newlybornfirestarter
Member
posted: May. 31, 2006 @ 12:54p
JuNooNi said: Guys, i know it's pretty trivial question but can anyone tell me how to fund both checking and saving accounts as soon as possible or Should I wait for the deposit slips to arrive? I do have citi account Bill pay settings but I am not sure if that's the correct way for doing this.
1. Go to the "View Application Status" page from their main page. Here is the link: View Application Status 2. Enter Social Security Number, and Mother's Maiden Name 3. Fund your accounts through "Fund Now" option. They will debit funds from your external account through ACH. It's free. It will take few days for your funds to show up in your NetBank Accounts.
Good Luck.
markkundinger
Senior Member - 2K
posted: May. 31, 2006 @ 11:57p
newlybornfirestarter said: Does anyone know how long it takes to get $75 + $75 bonuses after account opening? I opened my accounts on April 10, but haven't received my $75 + $75 yet. Also, if you don't sign up for Online Bill Pay, you do not get charged for Online Bill Pay Inactivity right?
It's in the fine print of the offer somewhere. On my notes, it's 30 days after having ONE MONTH where the average balance is met. In other words, two months from funding.
jhburgess
Senior Member
posted: Jun. 1, 2006 @ 5:07a
JuNooNi said: Guys, i know it's pretty trivial question but can anyone tell me how to fund both checking and saving accounts as soon as possible or Should I wait for the deposit slips to arrive? I do have citi account Bill pay settings but I am not sure if that's the correct way for doing this.
The fastest way to get credit for your deposit is to use the free QuickPost service. Write a check for your deposit amount, fill out an online deposit slip and print a QuickPost envelope. Drop off the QuickPost envelope at any UPS store for free overnight delivery to NetBank. Your deposit should show up in your account the following day, even though your check may not clear your existing account for a few days. For a pioneer in internet banking, NetBank's ACH process sucks - it takes an average of 5 business days for a transfer to be credited to your account, even though the deposit will be deducted from your existing account sooner than that.
jhburgess said: JuNooNi said: Guys, i know it's pretty trivial question but can anyone tell me how to fund both checking and saving accounts as soon as possible or Should I wait for the deposit slips to arrive? I do have citi account Bill pay settings but I am not sure if that's the correct way for doing this.
The fastest way to get credit for your deposit is to use the free QuickPost service. Write a check for your deposit amount, fill out an online deposit slip and print a QuickPost envelope. Drop off the QuickPost envelope at any UPS store for free overnight delivery to NetBank. Your deposit should show up in your account the following day, even though your check may not clear your existing account for a few days. For a pioneer in internet banking, NetBank's ACH process sucks - it takes an average of 5 business days for a transfer to be credited to your account, even though the deposit will be deducted from your existing account sooner than that. Forgive me but I have been searching all over thier website and couldn't find the deposit slip option. I Know I can order Deposit Slips and envelopes but it will take some time to arrive. How could I print out the Deposit Slip online. Thanks for help.
Thanks for your help guys, I found the link for thier Online Deposit slip.
EricGo
Senior Member - 2K
posted: Jun. 2, 2006 @ 12:23p
Look at the url -- http://www.netbank.com/pro382.htm
Plug in different numbers instead of 382 to pick your offer of choice.
lvlike86 said: QUESTION: TO QUALIFY FOR THE BONUS...
Do you have to apply seperately for each account -- OR -- Can you apply for all 3 of the accounts at the same time through the same link?
"To receive the reward in connection with the account opened, the customer must apply for the first account using the links on the promotional page. To qualify for subsequent rewards, the customer is not required to return to the promotional page to apply for the second or third account. Accounts must meet minimum average daily balance requirements within the specified time period as described below."
Found here: http://www.netbank.com/pro383_disc.htm
dumbmoney1
Member
posted: Jun. 7, 2006 @ 9:41p
I just went through Drugstore.com and signed up for the $75.00 free net value checking - I think I understand that I have to deposit $500 and keep it in there for 6 months so that I am not charged anything - did I get that right? They did not approve my application right away though - don't know what that means. After I finished with Drugstore.com/netbank I ran over to MBNA and signed up for their checking account for 100. promo but that one requires direct deposit to avoid fees I think. Anyway if this all works that's a quick $175 for about 20 minutes work. I think netbank also has free ACH in/out and now they advertise something where you take a check to UPS and they mail it in to the bank for FREE if you want to deposit a check.
Skipping 52 Messages...
pduan87
Member
posted: May. 2, 2007 @ 12:40p
How did you guys transfer out the money? Netbank's shitty online ACH system doesn't connect to Bank of America Checking.
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