(Expired) NetBank - Free iPod for Depositing $1000 in CD

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arien

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NetBank is a FDIC insured bank since 1998. They are giving out a free 512mb iPod Shuffle for depositing $1000 into their 1 year CD.

Their current rate is 4.45% APY. Seems like a decent deal if you have $1000 sitting around. Get good interest + a free iPod Shuffle
 
If you have the extra money laying around that you wont need for a little while, it might be. :)

Money Market with a minimum opening deposit of $1,000; or (2) 1-year Certificate of a Deposit (or longer term) with a minimum opening deposit of $1,000.

We will ship your iPod shuffle when (1) you fund a NetBank Money Market with a $1,000 average daily balance for 30 consecutive days; or (2) 30 days have occured since funding a NetBank CD.
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Not likely.. but if it was an iPod nano (instead of a shuffle), then maybe.. ;)
 
Has anyone banked with NetBank before? Is it a reputable institution?
 
expectation8 said:
Has anyone banked with NetBank before? Is it a reputable institution?
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Yes, I've been using Netbank for many years now (6 years?) and have had no problems. :spoofee2:
 
This is a very good deal if you have $1000 sitting around.
 
I happen to have the $$ available to invest so I jumped on this one. I've been wanting an iPod but not so badly that I was ready to buy one. This will be perfect for me.
 
NetBank will provide the 512 MB version of the iPod shuffle
 
$1000 to who?

Does anyone have anymore information on this bank? I don't just want to throw $1000 out there to any company. How accessible is the online bank? Has anyone had any problems or negative feedback about them?

Any additional information regarding this bank and how it works is appreciated.
 
why not just open a money market account for 1 month and close it after you get the ipod? no need to let them have your money for a year...
 
Don't forget to check the fee schedule for these accounts, too. http://www.netbank.com/terms_fees.htm

For example, if you close your Money Market account within 6 months of opening it, you're charged a $25 fee. Then you're also (potentially) charges a $7.50 fee to close the account. There may also be inactivity fees and other charges, as well.

When you consider that this same Ipod is $90 on overstock, which always has discounts (or even asking the Overstock guy what he could get it for on this forum), it may or may not be worth it. I would call and check on the fees before diving in. The CD might be the better way to go.

Good luck.
 
lacygirl1126 said:
Does anyone have anymore information on this bank? I don't just want to throw $1000 out there to any company. How accessible is the online bank? Has anyone had any problems or negative feedback about them?

Any additional information regarding this bank and how it works is appreciated.
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I opened an account with NetBank years ago. They're a fine bank and your deposit is FDIC-insured.
 
pnjnyc said:
why not just open a money market account for 1 month and close it after you get the ipod? no need to let them have your money for a year...
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Read the Terms and Conditions in detail before trying to game the system but that might be a good strategy.

If a Shuffle is going for about $90, then you are getting a 9% return on your $1,000 plus the 4.45% stated return on the CD for a total of about 13%. That's pretty good!
 
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That seems like a lot of trouble when the item theyre giving out is less than $100. I would do this for a microphoto, though..
 
I am a netbank customer for more than 7 years [1998] and never had any problems with their online banking. In fact, I have 2 accounts with them and had opened & closed a few CDs too as their APY is one of the best.

Unfortunately, I am not eligible for the free ipod, but @ 4.45% APY and getting a free ipod is not a bad idea though. If I were eligible, I would definitely go for it and would give the ipod to my son.
 
LiveSquid said:
That seems like a lot of trouble when the item theyre giving out is less than $100. I would do this for a microphoto, though..
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Its better than a sharp stick in the eye though. ;)
 
swb120 said:
Don't forget to check the fee schedule for these accounts, too. http://www.netbank.com/terms_fees.htm

For example, if you close your Money Market account within 6 months of opening it, you're charged a $25 fee. Then you're also (potentially) charges a $7.50 fee to close the account. There may also be inactivity fees and other charges, as well.
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I didn't see that fee schedule when opening the account. That sucks. Should have just gone for the CD. I'll try to give them a call tomorrow regarding the account closure fee, etc.
 
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