$50 for opening a bank account?

[crud3w4re]

http://www.wachovia.com/misc2/0,,1387,00.html

I found this ad when I was checking my Yahoo! mail

terms:

To qualify for the $50 bonus offer, you must open a new Wachovia Free Checking account online with $100 between 01/29/2007 and 04/24/2007 by clicking the "Apply Now" button.

1Account must be opened in good faith and remain in good standing through 05/30/2007 in order to be eligible for the offer. The account must be funded with a minimum opening deposit of $100 in new funds to Wachovia. Limit one bonus offer per household. Not valid with any other promotion or offer. Accounts subject to approval. Other fees may apply. The $50 bonus will appear in the form of a credit to the account within 60 days of the offer expiration date. The value of this bonus may be reported to the IRS and the recipient is responsible for any related federal, state, or local taxes.

Is it good? I think wachovia's rates may suck, so maybe we can just milk em' for the $50

[Corey Bryant]

One thing to make sure is that you do not need direct deposit. Some banks will charge a monthly fee if direct deposit is not used. For example, Bank of America considers any deposits from Paypal a direct deposit, however Chase does not.

I know Chase offers this from time to time as well but you need to also sign up with direct deposit to be eligble for the bonus.

[crud3w4re]

how much do they usually charge? Netbank mentioned something about automatic bill pay being free as long as I use it once every three months? I hope they don't charge $$$ for it as I have no use for it.

Anyway. I'm proposing milking Wachovia of this $50 offer. If their rates suck, you can just close the account after you've received the $50 :P