PerkStreet Checking Account $25 Bonus

PerkStreet Financial, which I mentioned early with its 5% cash back on holiday purchases plus 2% cash back on everything else offer, is currently giving $25 for every new customer.

The deal is like this. If you open a PerkStreet Checking Account before December 31, 2010 and fund the account with at lest $25, which is quite low if you think that is an initial deposit, then the bank will give you $25 and deposit it in your new account within 7 business days after the account is funded. Consider that as a quick 100% return for your investment. I have written about PerkStreet and their free checking account a year ago. For details, check out my PerkStreet review post, but here’s a quick summary of how the cash back program works:

You will earn 2% cash back for all non-PIN debit card purchases you make for the first 3 months starting on the day that your account is opened. A month is defined as a 30 day period – not a calendar month. There is no limit to the total amount you can earn.

After the first 3 months, when your Current Account Balance at the start of the day is $5,000 or more, you’ll earn 2% cash back for all non-PIN debit card purchases you make on that day. When your Current Account Balance at the start of the day is less than $5,000, you’ll earn 1% cash back on all non-PIN debit card purchases you make on that day.

For December 2010, categories that allow you to earn 5% cash back with non-PIN debit card purchases are: Stationery, Office Supplies, Printing, and Writing Paper (5111), Passenger Trains (4112), Buses (4131), Commuter Transport (4111) and Bakeries (5462).

While 5% cash back in certain categories seems to be quite generous, there is, however, a limit on how much such bonus cash back you can earn. Right now the limit is $250 per household annually, even though you can earn unlimited cash back with the standard cash back rewards program.

So, are you interested?

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Original Post on The Sun’s Financial Diary

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PerkStreet Checking Account $25 Bonus

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