What to look out with cash bonuses from banks?īefore opening a new bank account and chasing a high cash bonus, Bankrate consumer banking reporter Matthew Goldberg says any prospective customer must always first read and understand the rules. So, similar to offering a more attractive savings rate, many banks and financial institutions often use eye-catching cash sign-up bonuses to lure in new customers and raise cash. Indeed, some banks have increased interest rate offers for savings products such as high yield savings accounts, checking accounts, money-market accounts - you can see some of the highest-paying savings accounts here - And others are offering big cash bonuses. And as the benchmark funds rate climbs - it has climbed to 5.25%-5.5% from nearly zero a year ago - the cost for banks to pay off their debt balances also goes up, leaving many financial institutions searching for increasingly stronger measures to raise cash. Why are the bonuses getting bigger recently? For one, more than a year of elevated inflation has led the Federal Reserve to make persistent interest rate hikes to lower consumer prices. ![]() Here’s everything you need to know about the 10 best bank account sign-up bonuses for October 2023, and we list some of our top finds below.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |