PerkStreet Debit Card Holders Gaining Big Rewards

PerkStreet Financial, one of the more progressive online financial services companies, which offers innovative checking account rewards, is expanding its team and preparing additional offerings in the wake of tremendous growth during its first six months in the market.

Currently the company offers consumers who invest in their online checking account/debit card services three “perks,” which their customers can choose from when they open an account. PerkStreet Financial Visa® debit card holders can choose to receive: (1) a free cup of coffee from Dunkin’ Donuts, Starbucks, and others for every $200 they spend on non-pin purchases (i.e., using the card as a credit card at the checkout line as opposed to as a pin-required debit card), (2) a free song download from iTunes®, Amazon MP3, or Rhapsody® for every $100 spent, or (3) $1 back for spending $100 on a Visa gift card or a gift card from Best Buy®, Target®, Ticketmaster®, or GAP, or Amazon.com®. The cash-back “perks” come in the form of gift cards or online discount codes.

PerkStreet also is now offering a special 2 percent cash back offer for new account holders (the minimum deposit is $25) that will last for six months after opening the account, after which customers will receive 1 percent cash back on all non-pin purchases. This special offer lasts until July 15, 2010.In addition, PerkStreet is preparing a number of upcoming new products and offerings for 2010.

“This is the kind of change banking needs right now,” said PerkStreet Founder and CEO Dan O’Malley. “Americans are getting a terrible deal from their banks, yet most don’t realize it. We are proud to have not only created a new, more rewarding way to bank, but to have done so through the engagement and enthusiastic help of our thousands of customers.”

Because PerkStreet doesn’t spend money maintaining physical branches, it can give its users 25 times the rewards of the average debit card, which translates to over $450 in the first year for the typical household, according to the PerkStreet website (www.perkstreet.com) . PerkStreet’s rewards tend to match or exceed the rewards programs of almost all credit cards on the market. PerkStreet also boasts the largest network of free ATMs in the United States and 24-hour customer service via phone or e-mail.

Launched in late 2009 by banking veterans who wanted to change the face of the financial industry, PerkStreet now serves more customers than 26 percent of banks and credit unions in the U.S. PerkStreet has seen spending climb by more than 25 percent each month, and customers have earned rewards on more than $1 million in spending to date. In response to the demand, Boston-based PerkStreet is hiring additional management in the marketing, operations, and IT areas.

In addition to its website, www.perkstreet.com, interested consumers can also call (860) 792-2834 for more details.

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