EDIT 4/1/02 $150 back from citibank for opening a checking acct

[CHINAFIFA]

<< just a thought about uboc: 100 to open, but $7 monthly fee unless you have 1000 balance

and on their terms and fees, it keeps saying cali is one rate, and oregon/washington is another rate... what about other states? >>



Where does it say "$7 monthly fee unless you have 1000 balance"
All i see is that it says "This offer entitles you to checking with no regular monthly service charge for one year."

 

[luvya]

the oboc deal doesn't quite work for me. I don't why I just couldn't proceed to the next page

 

[theshamu]

<< I also signed up for "student" checking @ Firstar (no min. balance, NO $$ to open, and they give you $50!!!) SUPER NICE dealio for students who need cash! I'll hopefully be doing this dealio t00! >>


Tanner, is this a current offer or has it expired? Do you have a link or offer code?

 

[luvya]

ok, the oboc deal finally works for me. (still don't know what was wrong last time)
Now, as I understand, it's $100 to open the account, and $1000 for min daily balance, right? How long do I have to keep the money in to receive $75 and no penalities whatsoever. Anyone?

 

[Tanner]

do U guys think that U can open that obdc account if I'm in a diff. state? say KY or IL?

I'm not sure about the Firstar expiration on that. I'd just call and ask 'em. I don't think it will ruin it! hehehe

I just happened upon that one myself about 4=5 months ago when I moved

GL!

 

[Insomniac]

<< CHINAFIFA
RE:

<< Since the $150 will be credited to your account as earned interest, it will show on 1099 that we have to report to IRS. I don't know how much more tax we have to pay for this $150 extra interest. Maybe we need to pay $200 more to IRS >>



This is called "capital gains tax" (did I spell that right??? who cares) Anyway, you are NOT taxed on your 1099's and any other interest unless you gain over $400 in one year. THAT is a VERY general rule. As soon as I post this...someone will ignore the fact that I said this ahhaha, ahh well >>



Tanner: Technically it isn't Capital Gains. It will be taxable interest income. You will get a Form 1099-INT at the end of the year.

Like Tanner said, if your total taxable income is less than $400, in most cases you won't have to pay any taxes on that income. If it is more than $400, it is just added to your income and you will have to pay taxes on it. It should only be a marginal amount. Certainly not $200. Weird things do happen. If I made 31 cents less last year, I would've saved $14 in taxes.

 

[Tanner]

Insomniac Yeah, you're right. I forgot that you're always going to get taxed...I just meant that the big hits come after your initial $400 in capital gains...right? Isn't it after that they start hittin' you w/ like 40% tax rates or something?

anyway, looks like a GREAT update there GPz1100 You're a HECK of a thread mananger! I think that I'll keep up w/ this one as I get closer to the end of the work week I'll see how likely this is for us right now I sure hope we can swing it! it's some EASSY money! Ohyeah, and I think that I read about that 90day termination fee and that's Y I recommended the CD...it would keep it in there for 90 for ya @ a higher rate than like 0.02% or something pathetic like that

God Bless

Tanner

 

[satya]

You will taxed on any interest you receive unless its a federal tax-emempt interest(state bonds,etc). If it is less than $400, you DO NOT have to file a schedule B. You will ofcourse have to disclose any intreset on the front page of 1040 if there is a 1099-INT issued on it.

1099-INT interest payments are taxable at your normal tax rate as regular income.

 

[usekar]

Is it just me who got this information or what. The CSR was indicating a monthly service charge of 12.50 and to avoid it, one should maintain a 6000$ combined account balance. Assuming it would take about 4 months to get the 150$ back from Citibank it still works out to be 100$ approx. (150$ - (4*12.50) = 100$)

This is still assuming that I get my creadit in 4 months. I remember with my palm offer that, I got it after 5 monthsm in spite of frequent phone calls to them. It could be that I was given some wrong information, but will call them tonight again.

 

[CHINAFIFA]

Thanks for clarifying the tax information. But some more questions I have here: I've never opened a bank account before, so if i'm about to sign up online, how will this work out? Do i send them a check with the initial deposit?

 

[GPz1100]

Soap box mode on



Well, its been over a week since I sent in the signature page with a copy of my cell bill (since I don't have a land line)


Since then, I've received the ATM card and a PIN. I call today to follow up to see if the account
has been made active yet, and why not.

The schwantz on the other end tells me they need additional information. Such as my employeer and something else verifying my address. On the signature page, they had requested I send in a copy of my cell bill for address verification purposes. Now this idiot is telling me thats not good enough. Fine, later on tonight i'll fax 'em a copy of my electric bill. As for the employement on company letter head, I suppose since I wrote on the application that I am a student and am self employeed I should just conjure up a home made company letterhead to satisfy these sorry bastards.

Can't wait for the 3 months to be over with to pull my $150 and $1500 from this crappy bank and send 'em to h3ll.

Anyone have better luck?

soap box mode off

 

[GPz1100]

Update:

Talked to another CSR tonight to find out if they received the fax of my electric bill which was sent in monday evening. He shows no record of it but suggests waiting another day. In addition since I am a student and bulk of my time is spent as student, not self employement, he says a registration or statement from the school would be sufficient to show that I am in school. G'z all this for $150... They better pay up!

Anyways, I think I'm going to refax what I sent in monday night 2 more times, then fax in my school statement 3 times as well... For good measure.

 

[Tanner]

bawHAHAHAH!

man...I feel sorry for U GPz1100!!!

I was just wonderin' if anyone else had done this dealio yet...as I'm thinkin' about going through all the hassle involved. I'm not surprised that there is all that hassle...I mean afterall it's $150!!! But, I'm just not sure I'm up to it. I guess it's better than that 3% I'm makin' in ING right now. And considerin' I held outta my IRA this year to do this...I think I'd better do it and get that $$$ too! Thanks again for the dealio GPz1100!!!

Anyone else have any experiences w/ this that they'd be willing to share? good/bad?



God Bless

Tanner

 

[GPz1100]

Update, it looks like they received all the multiple copies of my paperwork and finally processed them. As of yesterday it appears the account has been released of all blocks, and I can pull the $1000 from it. It is alot of BS involved to get the account going, the problems that arrose were not expected. Good grief, i'm opening up a checking acct, not a mortgage loan! Ultimately, I will close the acct as soon as the $150 is deposited and the 90 days since inception of the account has passed. If they ask why, I'll probably say something along the lines that their service was the worst I've ever had with a banking institution.

Advice, if you are s student (as most on here probably are), just state that on the application, don't put that you work someplace part time and are also a student. They'll ask that you submit a recent statement from your school. Otherwise they'll want not only the school statement, but also copies of w2's!

Will let you all know how it goes in few months

 

[dentalboy]

good deal the mininum amount is pretty high though

 

[Collije]

You defintely have to report any interest earned from your bank accounts (the 1099INT form will be sent if any taxes are due), one way or another.

Thanks for the post. Still in the 6 month window from the initial palm posting

 

[domeng]

The rule of thumb with taxes (federal, state - california, FICA, etc) due from marginal income, assuming AGI of at least 75000, is about half of it. It gets worse if your AGI is at least 250000. Still not bad.

 

[Boomer2]

This deal appears to still be going on.

In addition, I saw this deal when logging off of Yahoo mail. It is for $100 for opening an account with $1500.

Better for people of limited means...like me.

 

[GPz1100]

As per their promo
----------------------
Life is full of great pleasures. Open and
fund a new Regular checking account
online with at least $2,500, pay two bills online and get one of those pleasures ? $150?.

?This offer is not available at Citibank Financial Centers. To receive this offer, you must open and fund a Regular checking account online with a minimum initial deposit of $2500 by 5/31/02 and then pay 2 bills online within 60 days of funding the account. $150 will be credited to your account within 60 days of the end of the statement period in which the second bill payment appears. Basic Checking is not eligible for this offer. All accounts are subject to approval. The $150 bonus payment will be reported as interest to you. Taxes, if any, are the responsibility of the customer. One offer per customer. Offer is not available to existing Citibank banking customers. Offer is made to U.S. residents 18 years of age or older only. Offer may be modified or withdrawn at any time without notice. Offer is not transferable.
------------------------------------------

You sure you didn't open up a basic checking account? I'd call 'em and find out why. Wouldn't be a first time a bank made a service charge error.

About ez checking. Thats what I got. From their website;

Ez Checking

Consists of a Regular Checking (non-interest bearing) account and provides 10 free checks a month..

So call and ask. They're there 24/7 1-800-374-9700

Post what happens

 

[PicknGrin]

Hmm... I haven't heard anything about the $6000 min balance (someone posted earlier)... the CSR told me, I think, that 1500 was the minimum (though I may be mistaken). 6K is a bit high for a minimum balance. Anyhow, I've made 1 of the 2 required bill payments so far, about to do #2. Hope to see my $150 relatively soon.

good luck

 

[jrsc]

I have a link to UBOF that will give a total of $100 instead of $75. I'm going to try to see if I can dig that up when I get home. It was $50 for opening thre account and another $50 for the online bill paying so it totals $100.

 

[jrsc]

As Promised UBOC $100 the only catch is that you have to keep a minimum of $3000 so that they don't charge you a monthly fee, otherwise its $9.50 a month. Besides that, the minimum to open the account is $100 to recieve the first $50 iafter 90 days. Then after that, all you need to do is use 2 months worth of online bill paments in the first 90 days to get the second $50.

$50+$50 = $100!

I think the offer ends June 30 according to my mail slip. But it might have changed!

 

[Almighty1]

As for UBOC guys, I did the $100 deal about 2-3 years ago and it does work. As for the minimum balance, you don't need to even worry about that because if you read it carefully, the monthly charges are free for the
first year and only after the first year will you get charged so basically close your account before one year and you won't be charged at all.

 

[udonoogen]

you guys ahve an extra 2500 or 1500? man... what a dream to me. hahaha.... i live check to check. life of a college student man... =P

 

[GPz1100]

5/17/2001 update:

Just checked my account balances this afternoon, and guess what I found!!!!

$150

I did my 2 bill payments within the first 3 days once the account was active. In fact, it hasn't even been 60 days since the account was opened.

Good luck to all who took advantage of this.

Keep in mind, you must keep acct open for at least 90 days to avoid early closure fee ($25)