The $2,000 reward for establishing a new bank account? It is real, and here is how it works.

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Savings accounts with high yields now provide far greater rates than in the past, and some even offer cash bonuses.

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The finest savings account rates are now available here. High-yield savings accounts are paying far more than they were a year ago.

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Additionally, banks may occasionally offer customers monetary incentives for opening savings and/or checking accounts with them

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There are some good deals out there for creating new accounts or making first deposits.

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As long as certain conditions are followed, they range from $100 to $2,000, according to Kevin Barr,

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Having said that, the small print must obviously be taken into account. "While a few hundred dollars for little work seems wonderful,

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I would advise them to read the small print and consider the entire cost of ownership. What must you complete in order to receive the bonus?

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According to Ted Rossman, you might also need to set up direct transfers that might total hundreds or even thousands of dollars each month.

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Take into consideration a few more factors, such as the opportunity cost of creating the account as well as the costs related to it.

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