With some of the nation’s largest banks moving to charge monthly debit card fees to offset revenue they anticipate losing in the wake of federal regulations, it’s good to know one financial institution wants to reward customers for their business.
If you live in the state of Florida and face getting smacked with monthly debit card fees then you may want to put your money in Community Bank & Company—it could earn you $60.
Right now, the bank is running a promotion to attract consumers faced with new fees: open a Value checking account with the financial institution and it will pay you $5 per month for a year. While the cash bonus is somewhat less than what larger banks such as Chase or Bank of America offer to lure in new customers, it’s also worth noting that Community Bank’s checking account products are free of charge.
With the Value checking account, you can look forward to receiving services that include unlimited check writing, monthly statements that include imaged copies of your checks, free internet banking and no minimum monthly balance requirements to abide by.
“We needed to do something to help consumers who are under attack from behemoth national banks charging fees that just don’t make sense,” said the bank’s President Katie Pemble. She added: “People have a choice of where to bank and at Community Bank we thought paying people $5 per month rather than charging them $5 per month was a good way to set us apart.”
How To Get This Deal:
To get this deal all you’ll have to do is open a checking account with the bank with a direct deposit according to a press release Community Bank on Tuesday. And, after closing on its $30 million acquisition of First Community Bank of America in late May, Community Bank now has 17 branches located in the Tampa Bay region of Florida to help it serve its customers.
Other banks advertising promotions to compete with large banks include both Co-Op Services Credit Union and Randolph-Brooks Federal Credit Union.