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 ...

Comments? Outbursts? Threats? Feedback appreciated

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 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..

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

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.

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?

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 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 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.

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