Banks giving away free iTunes songs with checking accounts

 

Have you heard about banks and credit unions that offer free iTunes songs instead of paying interest? If you haven’t you should run the numbers because the free songs can actually add to a good rate of return.

 

Assuming you or someone in your family downloads songs, shows, games or other media from iTunes from every month anyway, let’s take a look at an example.

 

Say you keep $1,000 in your checking account balance. Your bank or credit union pays you 0.50% interest (we are actually being generous there). After a year you have an extra $5 in earned interest in your account. On the other hand if you sign up for a bank or credit union that is giving away $5 a month in iTunes downloads (offers vary), you could earn $60 a year in free downloads if you meet the monthly requirements. This comes out to a 6% return. So tell us again where can you earn 6% and stay FDIC-insured?

 

The caveats are that the deals tend to be local, you have to change banks, you must go online with your banking and every month you have to meet the other requirements to earn the free iTunes downloads. But for a 6% return and free music, it’s pretty tempting.

 

 

Banks and credit unions offering free iTunes downloads today

 

 

Yates Center National Bank (Kansas) link

 

Girard National Bank (Kansas) link

 

City Bank (Texas) link

 

Financial Federal Credit Union (California) link

 

Hancock Bank (Kentucky) link

 

Piedmont Community Bank (Georgia) link

 

Macon-Atlanta State Bank (Missouri) link

 

Sacramento Credit Union (California) link

 

 

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