Many of you are aware that one of Savinly’s go-to tactics for scoring extra cash is via bank and credit card promotions. Today I’ve found a great one for you!
Serve.com is offering $50 when you open a no-cost account, enroll in direct deposit and receive two direct deposits into that account.
That’s a FREE $50 for roughly five minutes of effort. Nice!
Here’s a strategy: You can route a variety of income types into direct deposit besides your usual paycheck. I generally keep my paycheck going to my main bank, but for bonus offers I use other income streams to fund the account.
Consider other regular sources of monthly payments. Do you receive Social Security? An insurance payout? Earnings from a side gig? Payments from mystery shopping? Several “paid-to-email” platforms also allow direct deposit. For instance, Fusion Cash does — I get a dependable cash-out from them every month on the 20th.
Ready to enroll? Here’s the promo link: Serve.com $50 Bonus
If you’re unfamiliar with Serve.com, you might be wondering what it actually is… sit back and I’ll walk you through it.
Serve is American Express’ take on a debit-style option; it’s a full-featured prepaid account. You load funds onto your Serve card using a debit or credit card or via your bank account.
You can also attach a credit card as a backup funding source. If your Serve balance isn’t enough for a purchase, you can let the card pull from your credit line to cover the remainder. That feature is optional, though.
What Are the Advantages of Serve?
Serve works anywhere American Express is accepted. Additionally, you can send and receive payments through email, Facebook and text messages. A mobile app is available as well.
Because it’s a full-service card, Serve includes benefits like roadside assistance, purchase protection and global assist services — many of the same protections you’d get with a traditional American Express card.
What Fees Apply?
If you’re a cautious Savinlier, you know that many debit and prepaid cards come with lots of fees. Serve is somewhat different. There are no fees to add money or to activate the card. There’s also no credit check and no minimum balance requirement.
In fact, fees are so limited it’s simpler to list the ones that do exist. You’ll pay a $2 fee for ATM cash withdrawals. You can avoid that fee by enabling direct deposit and using an in-network ATM. (If you don’t set up direct deposit, you’ll face a $2 ATM fee whether you use an in-network or out-of-network ATM.)
Subaccounts — Another Serve Feature
Another advantage of Serve is the ability to create a subaccount for a child or someone else to use. If your child is 13 or older, they can have a Serve card funded from your account.
This is an excellent method to send money to a college student or to give a teen their allowance. Even better, you can track how the funds are spent and set permissions to control what the subaccount holder can do. Alerts can also be configured to help you monitor the subaccount’s activity.
Back to the Free Cash…
Serve sounds appealing, doesn’t it? The $50 bonus is the cherry on top. To claim the bonus, simply sign up for an account using this link, activate the account, and complete the direct deposit form by June 30, 2014, then give it to your employer. After two automatic direct deposits, the $50 bonus will be deposited into your account. Easy.
Good luck, Savinly Readers!
