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Terms from the bank website:
Open a Preferred Checking account and we’ll give you $10 for every direct deposit and automatic draft you establish before May 31st — up to $100.
The bonus is only available for new consumer accounts. The promotion period to determine the following bonus is for new accounts established with money from another financial institution only under qualifying product types between January 25, 2007 and May 31, 2007. A bonus of up to $100.00 will be paid to your Preferred, Preferred 50 and Preferred Index checking account in July 2007 based on the number of recurring ACH debit or credit transactions established for your new account at a rate of $10.00 per recurring ACH. Only recurring ACH transactions qualify for this promotional bonus. Examples of common one-time ACH entries that do not qualify under this promotion are Internet purchase transactions (WEB), one-time telemarketing charges (TEL), electronic check conversions at merchant or vendor locations (ECK) and accounts receivable collections (ARC). Disbursement of the bonus will be deposited into your new deposit account in July 2007 and will be credited as interest and included in your year-end 1099-INT as interest earned in 2007 for IRS reporting purposes. The current Annual Percentage Yield (APY) on the Preferred Checking account is 0.12 % and is subject to change at our discretion. APY is current through the date of this publication. Fees may reduce earnings on the account. A minimum opening balance of $100.00 is required to open this account.
