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According to a post on Reddit, a user was participating in a survey when the question came up inquiring about their interest in a new banking product. A couple of different options came up: One would be Reserve banking while the other would be called Sapphire Banking. Those who keep their funds in the account would qualify for a 10k annual point bonus as well as the following:
- $75k Deposit
- Earn 50k bonus as long as
- balance hit within 10 days
- must be kept for 90 days
- Earn 50k bonus as long as
- No Atm Fees, forex
- Extended Overdraft Fees
- Fee free incoming wires, stop payments, counter checks, money order, and cashier checks
- 500 free trades
- 0.5% rate discount on auto loans
- 75k bonus points for home loan and $500 cash back
- 0.5% home loan rate discount, no origination fee
- Relationship banker
Would you be interested?
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.5% off loans seems exceptionally large for a loan discount. Private Client only offers .125% to .25% discounts depending if you’re holding between 250k or more than 500k in deposits and investments. I had heard from Private Client that a point offer was coming, but I can’t imagine that would be the offer.
I am on their survey list as well this sounds wonderful but it will come at a cost. Just saying
Their private client service is not good value, and their loans offering 0.5% discount I have not found to be competitive in the market,