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WTDirect $25 to $150 Sign up Bonus

WTDirect [1] is once again offering a sign up bonus. Lots of readers took advantage of their winter blast promotion back in December. The program is similar, but with lower payouts; we’ll cash in for Free Money [2] Friday.

How to Get Your Sign up Bonus

  1. Open a new WTDirect [1] online savings account.
  2. Verify that you see a promo code starting with the letters “WFIT” on the application.
  3. Updated: Fund your account by July 31, 2009 August 15, 2009.
  4. Keep the money in the account until October 31, 2009.
  5. Get your bonus around November 20.

Amount of the Bonus

The amount you earn will be based on the initial funding level. Here is the WTDirect [1] bonus schedule:

Balance Bonus
$10,000 $25
$20,000 $50
$30,000 $75
$40,000 $100
$50,000 $150


Here is more information about WTDirect [1] and the bonus offer:

  • FDIC Insured.
  • No fees.
  • This offer is available to new WTDirect clients only.
  • Primary account holder must not have held a WTDirect account in the past 12 months.

Do the Math

As always, with a sign up bonus offer that ties up our money, we have to figure out if it’s a good deal.

The WTDirect [1] account earns 1.76% APY for the first 60 days no matter what the balance is. It will stay at 1.76% APY after that as long as you have $10,000 on deposit.

Once you add the interest together with the sign up bonus, you should be able to get almost 2.96% for the three months at the $50,000 level. For the lower levels, it looks like you’ll get 2.76%. The calculations ignore the time it takes to make the ACH transfers.

At any level, it clearly beats other market leaders like Ally Bank [3] and Bank of Internet [4], right now.

It’s a great deal for those of us who need to renew a portion of a CD ladder [5] or who have idle credit card arbitrage [6] money.