Bank of America Referral Program

Bank of America has a referral program that pays a $25 dollar fee to both the referrer and the referred to open a new checking account. Before I go further, let me start from the beginning.

Last night I visited my PayPal account and realized I had $43 in it. I had forgotten that I had it. So I decided to draw the money out. As I was trying to get the money out of paypal I realized that it was linked to a bank account that I have not had in years. No problem I will just add my current account. So I enter the information and PayPal denies it. PayPal states that it is in use already. At this point I realize that my wife is using that account on her PayPal. PayPal will only allow one PayPal account per bank account. Well, my last option is to request a check. Again PayPal has issues. It states that I cannot request a check because my account has not been verified. So I thought for a few minutes "How in the world am I going to get this money out that is rightfully mine?". The more I thought the more perturbed I became at PayPal. But this headache was about to become a blessing in disguise.

The solution finally dawned on me. Open a new account, and that will become my penny millions account. So off I go on a quest to find a checking account with no minimum balance requirements, and no monthly fees. It was at this point that I remembered a post I had read at "The Richest Man in Atherstone" about bank referral bonuses. So now my quest has become more complex. Not only do I need a bank that has no minimum balance and no monthly fees, but I also need one that pays a referral bonus. Well, I found the bank and they have so much more this is the perfect penny millions, or doubling bank. The bank is Bank of America. They pay a $25 referral fee to the referrer and also 25 to the referred for opening a checking account. But it gets better, much better. I am not sure if you have heard of one of their more innovative ideas, the "Keep the Change" program. Here are the details, if you have a checking account and a savings account through bank of America, and sign up for this program, every purchase you make will be rounded to the nearest dollar and the difference added to your savings. But, here is the good part. For the first three months they also match that amount 100%. For example, let's say you buy a soft drink. The total comes to $1.52. If you pay with your debit card they will debit your account 2.00. They will transfer 48 cents to your savings account, and pay you 48 cents as a match. After the first three months they match 5% for the rest of the year. Is that not incredible? Folks this is free money for basically doing nothing! I almost signed up with them immediately then I had another brainstorm. I have found someone to refer me. If you are not a Bank of America customer, email me. I will be more than happy to send you a referral invitation by email.

Also I wanted to let you know, I am not anti paypal. Paypal is a wonderful concept and is almost a necessity for online transactions. Their security policies and procedures while absolutely necessary can be irritating at times like any financial institution. This blog was just my opportunity to vent a little frustration. I will keep you up to date as far as referrals and how long it takes to pay etc.