Checking account promotions abound here and there, especially since it’s still early in the year. If you are searching the market for a new account, it is best to look at the different checking account offerings, and choose one that can satisfy your needs. And since bonuses are always a welcome addition, Madison National Bank have set-up the perfect solution for everyone’s different preferences.
About the Promotion
When you open any checking account with Madison National Bank, you get the chance to choose any or all of their added services, which come with cash rewards. This means that for each extra service, you get a corresponding money bonus.
Their Direct deposit service will allow you to enjoy a $100 cash-back reward. The companies from which these direct deposits will be coming from will be subjected to discretion from MNB in order to determine the qualification. However, employer paychecks are usually the ones accepted.
The second option is the Bill pay service. When you pay bills through bank transfers, you get the chance to earn an extra $25.
A $15 bonus will be waiting in your account once you enroll in their third service offer, which is the First check order. Lastly, if you apply for a debit card, you can earn an extra $10.
If you choose to go for all these offers, your cash rewards can amount to $150. However, this promotion is only applicable for personal checking accounts. The new account must be maintained and remain open for at least 180 days in order you to qualify for the rewards. If in case the account will be closed before this time period, the bonus money you earned will be deducted.
Checking Account Basics
If these offers seem perfect for you, it’s time for you to choose among the different checking account types they offer. All MNB accounts are FDIC insured of up to $25,000, and they require a minimum of $50 as initial deposit. However, APY rates are subject to changes and is based upon the type of checking account you choose. For example, their Executive checking with interest account gives is currently fixed at 0.50% for daily balances of $2,500 or more, while their 50 plus checking account gives 0.40% APY for a minimum daily balance of $1. For each checking account type, there are also specific perks. More info on this can be seen on their website.