Incentives For Opening a Bank Account
[From The Wall Street Journal (image available here)]
Of course every bank has different requirements for getting the “free” gift when you open the account, so be sure to read the fine print. Key Bank for example says:
*Starting June 1, 2006, get a free iPod shuffle when you open a free Student Checking account with a debit card, apply and are approved for a no annual fee student credit card and enroll in free online statements. Offer available to individuals without an existing checking account at KeyBank. Limit one free iPod shuffle per individual. Free iPod shuffle offer valid until October 31, 2006 or while supplies last. All package requirements must be met by October 31, 2006. The recipient of the iPod gift is responsible for any taxes that may apply.
[source]
Regardless of the requirements, some of these incentives can turn out to be pretty good deals for the college consumer. Banks know that many students who like their banking experience when they’re starting out with their finances end up being loyal lifelong customers. “For many banks, students represent one of the fastest growing business segments. Moreover, their research shows that a young adult who opens an account often remains a loyal customer for many years to come.” (from the wsj.com article)
(Somewhat) Similar Posts:
We've written about his organizations before on Consumption Rules (see Grameen Bank and Microfinance), but now on Sunday Muhammad Yunus accepted the Nobel Peace Prize...A study, conducted by Lew Mandell of the School of Management at the University at Buffalo, shows how little the average American knows about personal...Just ask: About a third of credit-card users have pressed for a lower interest rate, according to a September survey by Synergistics Research Corp. More than...We've talked before about a website called gethuman.com, started by Paul English, that maintains a list of companies' customer service numbers and ways to...