That was really the last hold out for most to open an account since you still needed a local bank to deposit your checks if you were uncomfortable with mailing endorsed checks through the mail. There is really no reason now to actually need an account at a physical bank.

The online deposit, plus the unlimited ATM rebates, paper checks, no minimum balances or fees and an account that earns interest, there is no reason you couldn’t make this your primary bank.

Ok, so for all you holdouts out there, please comment and let me know why you wouldn’t switch to and Ally Checking account? As the big banks like Chase and Bank of America are adding debit card usage fees, maintenance fees, as well as no interest on most of their accounts, why would you stick with them? Why would you want to pay extra so that they can have physical buildings when a bank really doesn’t need one?

They also offer high interest savings accounts as well as CD’s with great rates that link directly to your checking account. If you haven’t looked into an Ally Checking account as your current bank replacement you should.

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1. Ally Bank to Offer eCheck Deposit Great news for you Ally Bank cutomers. I received an email...
2. Fidelity Rolls Out eCheck Deposit for Smart Phones Fidelity recently made updates to its iPhone and Android apps...
3. Ally Bank Launches New Products Including IRA Earlier this week, Ally.com launched a few new banking products...

• 4-Year Raise Your Rate CD – This new CD allows you to raise your rate two times during the 4 year period. They also offer a 2 year raise your rate CD, but the 4 year will get you a better rate if you can part with your money for longer
• Ally Perks – This is Ally’s new debit card rewards program. It requires their interest checking account which after making qualifying purchases will get you cash added bank into your checking account.
• Individual Retirement Accounts (IRAs) – What is nice about their IRA is that you can put your money into CD’s and an Online Savings account to earn a little higher rate. If you are having doubts about investing in todays current market, their IRA product might make sense for you

I have been very impressed with Ally and how they keep improving thier product line. Most banks just keep the same old formula and wonder why they lose customers. The nice thing about Ally is that most of their accounts cost nothing to open had hold. In an economy where the big banks like Chase and Bank of America are adding fees and reducing their free product lines, it is refreshing to see banks like Ally are still being very competitive.

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1. Ally Bank to Offer eCheck Deposit Great news for you Ally Bank cutomers. I received an email...

For those of you unaware of what eCheck deposit is, it is a way for you to deposit checks into your Ally Bank account using a scanner connected to your PC. No more mailing in checks or depositing checks at a local bank. I currently use this feature with my credit union, but I can’t wait to get access to do this on my Ally bank accounts, so that I can drop the credit union for good!

With no minimums, ATM fees rebates, a decent interest rate and now eCheck deposit, do you really need a local bank? As the large banks remove their free checking accounts, reduce debit card purchase limits, kill you with ATM fees and offer you little to no interest, switching to a totally online bank like Ally Bank is pretty much a no brainer.

They have a great product selection based on your needs. But best of all they have 24/7 customer service. Yes, this is still a bank I am talking about! Check out the Ally Bank Site for more details.

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To qualify for the bonus you need to open a new account online by December 31st 2010. You need to fund the account with $25 or more. You account will then be credited with the $25 within 7 business days.

Perksteet Financial’s checking account is a cash back account where you earn rewards on your debit card purchases. You earn 5% on special categories that are announced monthly. The regular cash back percentage is based on your account balance.  

After the first 3 months, when your Current Account Balance at the start of the day is $5,000 or more, you’ll earn 2% cash back for all non-PIN debit card purchases you make on that day. When your Current Account Balance at the start of the day is less than $5,000, you’ll earn 1% cash back on all non-PIN debit card purchases you make on that day

If you wish, instead of earning cash back, you can earn free music or coffee as well. You can switch between the free programs at any time with no penalty.

The checking account comes with a free debit / ATM card, free checkbook as well as free online bill pay and online banking. Another great feature of this account is 24/7 phone support. Most banks only want to talk to you during business hours, but with Perkstreet Financial you can call anytime.

Check out PerkStreet Financial’s^SM website for more details on this account and their bonus offer.

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Discover Bank is the same institution that issues the Discover credit card, so they have been around for a while. In addition, they are FDIC insured up to $250,000 per account.

One interesting thing about Discover Bank is that you rarely see advertisements like the other banks. I am not quite sure why with such a high rate you think that they would steal away the competition. The High Yield Savings Account also has been been the Bankrate.com Top Tier Winner for consistently high yields.

There is an ETF feature that lets you move money in and out of the account to a linked checking account that you set up. There is also live 24/7 customer service in case you need to call them for any reason.

If you are looking for a safe bank with a high rate and great customer service, you should take a look at the High Yield Savings Account from Discover Bank.

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• Earn $30 – Refer a Friend
• Get $103 when you open an Electric Orange Checking Account
• Get $25 when you open a kid savings account
• 100% Cash Back Giveaway
• 2% APY 36 month IRA CD
• $2000 off closing costs on an Easy Orange Mortgage
• 25% back on trades with ShareBuilder

The ones that look the most attractive to me are the $103 bonus for the new electric orange checking as well as the free $25 when opening a kid savings account. The $25 kid savings bonus is available to those that already have an ING account, so if you are looking to start up a savings fund for a child, why not get a free $25 in the process.

There is still a $25 referral bonus when opening up an ING direct savings account. If you are interested in opening a new account and want the free $25, I can refer you via the form below. Fill it out and a referral link will arrive in your email.

cforms contact form by delicious:days

See the ING Direct Black Friday Page for more details.

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To qualify for the $100 bonus, you need to open one of the following types of checking accounts by November 30th 2010:

• Free Checking
• Performance Checking
• Performance Select Checking
• Virtual Wallet

Once you have opened the account you need to have one qualifying Direct Deposit as well as make 10 debit card purchases with your PNC Bank Visa within 60 days of the account opening date.

A “Qualifying Direct Deposit” is defined as a recurring direct deposit of a paycheck, pension, social security or other regular monthly payment electronically deposited into your new PNC account.

The $100 will be credited to your account up to 60 days after the above conditions have been satisfied.

You may want to look into the checking account fees prior to opening the account. Their Free Checking account does not have any fees, but it also offers limited benefits. I have had a free PNC Checking account for sometime now and haven’t had any issues or problems with their service.

If you are in the market for a new checking account, a $100 sign up bonus is definetly worth the look here!

Check out the PNC Promo page for more details.

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You can get the cash back on all eligible PIN and signature based transactions that total under $50 at any merchant that accepts MasterCard. Note that ATM transactions and any transaction where you also get cash back are not considered “eligible” transactions.

There is a limit to how much you can earn however. The cash back reward is capped at $250 per month, so since this covers 2 months you could potentially earn a $500 cash back reward if you make a lot of small ( < $50) purchases.

The 1% Cash Back Rebate will be deposited into your Electric Orange by the 15th day of the following month. If you already have an ING Electric Orange Checking this is a good deal since this cash back offer rivals that of most cash back credit cards for small purchases.

Check out the ING Electric Orange Checking Promo page for more details on this Limited Time Cash Back Offer.

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Here is how it works. You must open a new person checking account online by 12/4/2010 using the offer code: CHC220OL. You can open their free MyAccess Checking account to qualify for this promo. There are no fees on this account when you set up direct deposit. Since that is a requirement to get the $100 part of the bonus, this shouldn’t be an issue.

Once you establish direct deposit, you will receive a $100 statement credit. You must get the direct deposit going within the first 3 months of your account opening.

The rest of the bonus ($120) is paid out $20 increments when you pay your Bank of America Credit Card from your new checking account. You will receive $20 / month for 6 months each time you make that payment.

Your statement credit(s) will be applied to your credit card account within 60 days after the date of each qualifying transaction, provided that both your credit card and checking accounts are open and in good standing.

A $220 bonus is one of the larger bank bonuses that I have seen in a long time. If you are a current Bank of America credit card holder, then you should definitely jump in on this one.

Take a look at the Bank of America Promo page for more details!

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To qualify for this offer, you need to open a Chase BusinessClassic  Checking or Chase BusinessClassic Checking with Interest by August 20th and deposit a minimum of $1000 into the account within 30 days of account opening. The $100 bonus will be deposited automatically into your checking account within 10 business days after the minimum deposit requirement is met.

The Chase BusinessClassic account is a free checking account. To avoid any service fees, you need to have at least one of the following conditions:

• have 5 or more debit card purchases are posted to your checking account each statement period (withdrawals from the ATM or cash advance transactions do not qualify)
• link the checking account to a Chase Business Credit Card that is not delinquent, closed, charged off, or revoked and as long as the card balance exceeds $0 at least once during the current checking account statement cycle
• link the checking account to a Chase Premier Checking^SM or Chase Premier Platinum Checking^SM personal checking account
• maintain a monthly average balance of $4,000 to $7,500 (depending on region) in the checking account.

Check out the Chase $100 Bonus Page for more details.

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