US Bank push for their START Program, new way to encourage consumers to save more
The US Bank
launched new savings account program recently called START or Savings Today and Rewards Tomorrow. You can find the promo page on their website which gives you an overview of how this works.
Here is how you can start to take advantage of the benefits of this savings account program. You need to open a savings and checking account through their US Bank Five Star Package.
Account holders must also do one or more of the following activities:
You have to set up a funds transfer of at least $25 per month from your checking account to your US Bank savings OR
$1 transfer from your checking to your savings for every purchase using your US Bank check card OR
$1 transfer from your checking to your savings for every purchase using your US Bank credit card
You can also go for the Savings Accelerator and take advantage of the FlexPerks cash rewards which is automatically credited to your account. Here are some rewards that you can get:
When your US savings account balance hits $1000, you will receive a Visa Rewards Card worth $50
Get $50 for maintaining your savings account that has $1000 or more for at least 12 months
We verified this rewards program with their customer service and we were told that the first $50 rewards card can easily be achieved by opening an account and putting an initial funding of $1000. The other $50 card just requires you to maintain the balance for one year.
We do not consider the START program as high yield savings account since the interest rate is just 0.10%. Again, this program is meant to push people to start saving so it is still worth a try. The bank does not collect any service charges in connection with their savings or checking account.
When you go to their website, you have to enter your zip code so you can see if you have a branch near you which participates in the START program. This is a very new program which is not yet rolled out to all of their offices. The bank told us though that any one from any state can participate in the program by enrolling over the phone. Note though that they do a hard credit pull when you open an account.
You can be earning hundreds or even thousands of dollars a year in CD investments, money market, and cash back credit cards. Subscribe to our free newsletter below to learn how to maximize your rewards, improve your credit, and make money!
