Boston-based PerkStreet FinancialSM is revolutionizing the way people bank by placing the consumer first and putting serious cash back into their pockets. Indeed, PerkStreet's approach is so innovative that financial advisor and New York Times best-selling author, Dave Ramsey, regularly recommends their debit card to his national radio listeners.
The sign up process is really simple. First, you open an online checking account with PerkStreet and they issue you a PerkStreet Debit MasterCard® linked to your account. You use the card for your spending, and PerkStreet gives you up to 5 percent back on almost all of your purchases. It’s that easy.
Financial experts like Ramsey have been encouraging people to use debit cards rather than credit cards for years. That's because you’re using funds from your checking account, so you can’t spend more than you have in the bank. After years of credit hangover, many Americans love the financial discipline that a debit card provides. They’re also safe, since they carry the same MasterCard Zero Liability policy of credit cards now, and debit cards are accepted everywhere MasterCard® is accepted.
And, unlike with credit cards, no credit check is required to set up your account or get your PerkStreet Debit MasterCard®.
Every new account holder is immediately eligible to start receiving unlimited cash-back. You can earn cash-back almost everywhere you use your card, plus up to a whopping 5 percent when you shop at select retailers.
"Even every day expenses like gas, groceries, and utilities earn cash back," Ramsey explains. "Some PerkStreet customers are putting up to $1000 dollars in their pockets every year. Earning unlimited cash back automatically on money you were going to spend anyway, well, that's a no-brainer."
The PerkStreet account is free to get, with no monthly usage for active accounts or debit card fees. While they don’t operate any branch offices, you can access your funds at over 42,000 free ATMs. They offer 24/7 live customer service and all PerkStreet accounts are FDIC insured up to $250,000.
So, how can PerkStreet deliver all this cash-back with this level of service and no fees?
PerkStreet was co-founded by Dan O’Malley, a former Capital One executive. He understands that a traditional bank has to operate a costly infrastructure of thousands of branch offices. Would you believe the average big bank spends almost $800 per year on branches for each customer they serve? Eliminating this expense means a huge amount of funds that can go back to account holders.
There's no "catch" to opening an account at PerkStreet, and it's simpler than you might imagine. Completing the application takes minutes on their website. Transferring money from your old bank account to your new PerkStreet account is easy and free, and so is setting up direct deposit of your paycheck. They’ll even send you pre-paid envelopes to use if you want to make paper check deposits.
Lots of people gripe about the costs and service from their bank, but few do anything about it because they imagine it’s a hassle to switch. Not only does PerkStreet make it worthwhile to switch—they make it easy. And, for many people, the cash they can earn from their new account makes switching even easier.
As Ramsey attests, "If you haven't signed up for a PerkStreet cash back debit card, you're wasting money."
Advertorial by PerkStreetFinancial