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Scoop up bank incentives

If you're opening a new account, check out bank incentives first.

For example, JPMorgan Chase recently offered $125 bonuses on its new accounts with some restrictions. Some other banks offer incentives for adding direct deposit or online bill payment to existing accounts.

Credit unions and Internet banks also offer bonuses, Tumin says. "Most bonuses are applied to checking accounts, and it's very typical to require direct deposit," he says.

Tumin advises investors not to be swayed by incentives over the long term. "If a large bank gives you $100, you probably won't make much money after that," he says.


 

 

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