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However, getting a cash reward for opening a nsewchecking accountis more common than ever.
That means customers can strategically use bank rewards to boost their savings and meet other financial goals.
It also means banks are spending significantly to acquire and keep new customers.
Given the range of bank bonuses currently available, many other banks are doing the same.
If you do earn bank rewards, here are some ways you might use them.
Ways To Use Bank Rewards To Boost Savings
Customers can use bank rewards to boost theirsavings.
For example, research banks offer bonuses if you want to take a $1,000 weekend trip.
Decide whether or not you oughta open one account or more than one account to reach your goal.
The holidays are one of the most expensive times of the year, especially for families with young children.
Going overboard with gifts, travel, and holiday experiences can be easy.
Frequently Asked Questions
Are Bank Bonuses Taxable Income?
How Long Does it Take to Receive a Bank Bonus?
Bank bonuses and the terms to get one will vary by bank.
What Happens if I Dont Receive a Bank Bonus?
If you think you should have received a bank bonus but didnt, contact your bank right away.
Your bank can research the issue to see why you didnt receive it.
Can I Earn More Than One Bank Bonus at a Time?
However, its important to be strategic.
Some banks will check ChexSystems, which is like your credit history but for bank accounts.
ChexSystems can alert banks as to whether or not youve left accounts in good standing.
Additionally, it can also show banks how many accounts youve opened recently.
Some banks might prefer customers who havent opened several accounts recently, but it varies by institution.
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