Get $50 for opening a FREE checking account w/$100 deposit

[Choochoojr]

https://secure02.principal.com/bank/...50checking.htm

Get $50 when you open a free checking account

Just when you thought our checking account couldn't get any better, we're offering you money to try it. So, not only do you receive:

Free unlimited BillPay
-No monthly minimum balance requirement
-No Principal Bank fee on ATM transactions
-Free first order of personal checks
...we pay you to give it a try!

$100 minimum initial deposit required to receive $50 bonus. $50 bonus available only for new accounts applied for on or after April 19, 2004, and will be paid only on one account per household. Valid email address required. Deposit bonus will be provided within 30 days of account opening and funding. $50 account closing fee if funds are not left on deposit for at least six months.

[OBlachubs]

The small print is so small it's hard to read:

$100 minimum initial deposit required to receive $50 bonus. $50 bonus available only for new accounts applied for on or after April 19, 2004, and will be paid only on one account per household. Valid email address required. Deposit bonus will be provided within 30 days of account opening and funding. $50 account closing fee if funds are not left on deposit for at least six months.

$50 bonus will be reported as interest income.

Annual Percentage Yield (APY) is .25% for balances between $2500 and $24,999.99 and .51% for balances of $25,000 or more. Rates are variable and subject to change, and are accurate as of 06/01/2004.

[Choochoojr]

I have the small print listed above with the post, its not small anymore LOL

[OBlachubs]

Kewl. They didn't say anything about a min balance, but I'm assuming you probably do have one. The interest rate is almost zero too so that is where they get you. Not as good of a deal as it first appears. Thanks though.

[Choochoojr]

$50 interest on a $100 balance for 6 mos. is pretty good.

[spazntwitch]

$50 interest on a $100 balance for 6 mos. is pretty good.

Isn't that over 100% APR?