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Banks offer perks to new account holdersFaced with an unemployment rate of 8.1 percent and stiff lending standards from banks - that rainy day may come at any time as more individuals find themselves out of a job, in need of a loan or stuck with a higher interest rate on their credit card bill. Recently, it was reported that American Express was offering a number of cardholders $300 to close an account. Now, banks nationwide are enticing consumers with a slew of perks and rewards to open a new bank account. According to an article on SmartMoney, banks are offering high savings rates and even sign-on bonuses for consumers willing to open a new savings account - and follow some fairly strict guidelines. The article says that by following requirements - such as completing a specific number of debits per month, using direct deposit for paychecks or going paperless for statements - Americans could be eligible to earn up to 6 percent on their savings at some banks. Others institutions are offering cash and saving bonds incentives to consumers who open new accounts and maintain a specific balance, says the article. What if you fail to meet any of the pre-stated requirements? Perks can be dropped as easily as they were offered, says the news source. With households saving nearly 5 percent of their disposable income in January, according to the Department of Commerce, some American consumers may benefit from these new offers. Reuters is reporting that a survey of private economists by Blue Chip Economic Indicators expects the savings trend to reverse later this year as households spend money from tax cuts and take advantage of loosening credit conditions.
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