Banks Are Offering Hundreds of Dollars to New Customers. What’s the Catch?

The battle of financial institution bonuses is heating up. As monetary establishments compete for deposits in a excessive-rate of interest atmosphere, they’ve elevated their money bonus presents for patrons who open new checking accounts. The typical checking account promo is now simply over $400, up from about $300 in 2021, in accordance with Curinos, a monetary knowledge firm. Supposed as a hook to draw prospects…

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