I'm all about free money. These days, it's hard to find accounts that are paying bonuses for opening an account. I found out the other day about PerkStreet Financial.

PerkStreet has partnered with the Bancorp Bank, member FDIC, to provide several of its banking services, including FDIC insurance. This free online checking account gives you a number of perks for having the account AND now, until February 28, 2010 you can also get a $50 bonus for opening an account.

While this account may not be best for everyone, if you need or would like a separate free checking account, this one can be perfect. Opening an account is quick and easy. It took me about 3 minutes to get it setup. You will need your drivers license and a debit card, credit card or check from your current bank and at least a $25 opening deposit.

From the website, here are a some of the FAQ's:

What are the benefits of having an account? By using your debit card without a pin, you can earn free coffee, music or 1% cash back.

What are the perks? 
  • 1% cash back: Choose from a PerkStreet Financial Visa® Gift Card or gift cards from Target®, Best Buy®, Amazon.com®, GAP and Ticketmaster®
  • Music: Choose to receive credit for songs at iTunes®, Rhapsody® or Amazon.com® Gift Cards for MP3s or millions of other items at Amazon.com
  • Coffee: Choose reloadable gift cards from Starbucks®, Dunkin Donuts®, Peet’s Coffee and Tea® and Bruegger’s Bagels®
How much does it cost? The account is absolutely free. There are no account minimums, maintenance fees or charges for using your debit card.

How can PerkStreet offer so many perks? By having no branches, they don't have to spend billions of dollars to open and maintain branches. They use the savings to offer perks to customers.

How do I make a deposit? You can add money to your account by direct deposit, transfer money from an existing checking or savings account, make free deposits at any UPS or Mailboxes, Etc store and PerkStreet will receive your deposit the next day. You can also mail in deposits.

How do I withdraw money from my account? You can withdraw money for free at over 37,000 STARsf surcharge free ATM network or at any merchant that offers cash back for purchases. You can use ATMs outside the network for a $2 fee.

Is your money safe? Yes. Every PerkStreet account is FDIC insured up to $250,000 and all PerkStreet Financial Visa Debit Cards are protected by The Visa Zero Liability policy. This policy ensures that you won’t be held responsible for any unauthorized transactions.

The account is just like a regular checking account since you can pay bills online, check your balance online or by phone and receive text balance alerts via email or mobile phone. You can also get help via phone anytime of the day and most calls are answered within 30 seconds. 

I think the account is pretty cool so I signed up to be an affiliate. I freatly appreciate it if you use any of the above links on this page to open an account. The holidays are coming and I can really use the extra money. :-)


  1. Credit Card Chaser // November 21, 2009 at 6:19 PM  

    Thanks for featuring this. I actually really like the 1% cash back option for this debit card (although many cash back reward credit cards can get anywhere from 1% up to 3% in certain categories but if you want a debit card then this is a great card to consider.