This new savings account pays you a bonus for making a transfer from a First National Bank checking account to the Pay Yourself First Savings account. A few details from their site.
Offer expires July 31, 2009. Consumer accounts only. Limit one offer per household. A First National Bank checking account is required to open the Pay Yourself First Savings account. Transfers to the Pay Yourself First Savings account must come from a First National Bank checking account. For the first six months after account opening, a $5.00 bonus will be paid per transfer of at least $25.00 for up to two transfers per month with a maximum monthly bonus of $10.00. After six months, a $1.00 bonus will be paid per transfer of at least $25.00 for up to two transfers per month with a maximum monthly bonus of $2.00. Months are based on the accounts’ service charge cycle date, which may not equate to a ‘calendar month.
The account currently only pays .30%. To get the maximum benefit of this account you would only transfer the minimum. I don’t see this as being worth the effort but if you already have a checking account with them it might be a good deal.
Check out their promo page for more information on this bank bonus.
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