BANKDIRECT OFFERING $50 INCENTIVE AND NEW HIGHER-INTEREST
CHECKING ACCOUNT
DALLAS (September 2, 1999) - BankDirect has launched a national promotional
campaign awarding a $50 bonus to new checking customers, and is introducing a
new checking account that provides a substantially higher interest rate to
customers.
The promotion, which will run throughout the month of September, rewards
customers with $50.00 when they open a new BankDirect checking account and
activate payroll direct deposit. The $50 bonus will be promoted through
national online banner ads, direct marketing initiatives, and traditional
media.
The promotion serves to debut the new BankDirect checking account that combines
the convenience of checking with a higher interest rate usually reserved for
less flexible savings accounts. According to BankDirect President Rose
Hultgren, the new checking account provides consumers with solutions to the
long-time headaches of juggling finances between accounts, deciphering complex
fee structures, and receiving less than market interest rates for money held in
checking accounts.
Under the new offer, BankDirect checking account pay 4.75% interest on daily
balances of $10,000 or more, and 3.25% on balances below $10,000. Accounts can
be opened with as little as $100. BankDirect offers significantly higher rates
than traditional banks (traditional banks average 0.83% nationally,) combined
free online banking, free
bill pay services, and free ATMs.
"Our checking product provides consumers with a simplified, flexible vehicle for
managing their finances in a FDIC insured institution," Hultgren said.
The $50 incentive and the higher-interest checking account are the latest
elements in BankDirect's continuing commitment to providing customers
attractive alternatives to the banking status quo. "We expect these offers to
attract customers who are seeking the convenience, higher rates, and no fees of
banking direct," Hultgren said. "They are natural extensions of our "easy.
money." advertising campaign, and are designed to entice online consumers to
take action," she said.
BankDirect provides no-fee, high interest checking, money market accounts and
CD's as well as free bill pay service to consumers nationwide. BankDirect
operates on the World Wide Web at www.bankdirect.com.
Launched in May 1999, BankDirect is the national
Internet banking division of Texas Capital Bank. Texas Capital
Bank is privately owned and operated by the holding company, Texas Capital
Bancshares, Inc.
For more information, contact:
Jay Barta, Account Supervisor
Levenson Public Relations
214-880-0200, ext. 658
Rose Hultgren, President
BankDirect
214-890-5800