SmarterBank offers an online checking account with no monthly fee for active users that allows anyone to earn SmarterBucks rewards every time you use your SmarterBank Visa Debit Card to pay down your student loans faster.
Plus, you can sign up for a free SmarterBucks account and get a $10 bonus once you earn your first $5 in rewards, without having to open a SmarterBank checking account.
Please note that the SmarterBank checking account and SmarterBucks rewards program are separate entities, and you do not need to open a SmarterBank checking account to participate in the SmarterBucks rewards program to earn the $10 bonus.
SmarterBucks is perfect for anyone who has student debt, anyone who knows someone with student debt, or anyone who wants to get out of debt faster by earning SmarterBucks rewards.
You can pick any student loan to pay off if you are a student or graduate, or you can earn rewards for someone else who wants to get out of debt faster, like your family and friends.
All you have to do is designate a loan, and they’ll make the reward payments automatically.
$10 SmarterBucks Bonus Offer
Sign up for your free SmarterBucks rewards program account to get a $10 bonus toward your first extra student loan payment.
Please note that you don’t have to open a SmarterBank checking account to get the $10 bonus, you just need to sign up for a free SmarterBucks rewards account.
Just open a SmarterBucks rewards account and assign which student loan you want to pay down.
Once you’ve earned $5 in rewards, SmarterBucks will give you an extra $10 toward your first extra payment.
This offer expires September 15, 2013.
All users who sign up for a SmarterBucks Standard or Gifter account by September 15, 2013, are eligible for this offer.
To receive the $10 in SmarterBucks rewards, you must set up a valid student loan or designate a recipient with a valid student loan in the SmarterBucks system and earn $5 in rewards (excluding SmarterBucks contributions) by December 31, 2013.
SmarterBucks Contributor accounts are not eligible for this offer.
SmarterBank Checking Account
A SmarterBank checking account is an FDIC-insured online checking account that is free for active users.
It is not necessary to open a SmarterBank account to sign up for SmarterBucks.
However, SmarterBank accounts include a free SmarterBank Visa Debit Card, which is a great way to earn SmarterBucks rewards on your everyday purchases.
Just apply for your SmarterBank account with your free SmarterBank Visa Debit Card.
You’ll earn SmarterBucks rewards on all non-PIN purchases made with your SmarterBank Visa Debit Card.
You’ll get 0.5% back on the first $100 of any purchase and 1% on any amount over $100.
Plus, you can use your SmarterBank Visa Debit Card in the SmarterBucks Marketplace to earn up to 10% back from your favorite brands in addition to your regular earnings.
SmarterBank accounts allow you to get money from the ATM, have free access to online banking where you can view your banking activity, transfer money, and pay bills.
The SmarterBank account is brought to you via their banking partner, The Bancorp Bank, a member of the Federal Deposit Insurance Corporation (FDIC), which means your funds are insured up to $250,000.
The SmarterBank checking account has no monthly fees if your account is active, but there is a $4.95 monthly fee for inactive accounts.
Your deposit account will be considered inactive if there is no customer-initiated activity during any calendar month, including, but is not limited to, writing a check that clears the account, initiating a withdrawal, making a deposit, or making a debit card or ATM card transaction.
SmarterBucks Rewards Program
SmarterBucks is a free rewards program, brought to you by the team at SimpleTuition, which helps you pay down any student loan you choose.
The SmarterBucks rewards program helps you pay off your student debt by contributing your SmarterBucks rewards as extra loan payments in addition to your regular monthly payments, which means that every dollar in SmarterBucks is worth more than a dollar in debt reduction, because making extra payments also helps you save on interest charges.
You’ll earn rewards on your everyday purchases with automated rewards redemption to pay down your loans faster.
Each month that your rewards balance totals $15 or more, SmarterBucks will make an extra payment for that amount toward your designated student loan.
There are no limits on your earnings and no rewards expiration dates.
You can even ask your family and friends to help you pay off your student loans, and they can contribute to your SmarterBucks account via credit or debit card.
SmarterBucks members can earn up to 10% cash back for shopping at popular merchants through the SmarterBucks Marketplace.
This is one of the main ways to earn SmarterBucks rewards as a free member, if you do not sign up for the SmarterBank checking account and debit card.
So if you just want to earn the $10 bonus with a free SmarterBucks account, you would only have to make a purchase that earns $5 in cash back rewards through the SmarterBucks Marketplace.
SmarterBucks members also have access to exclusive deals to earn extra rewards.
These exclusive opportunities change on a regular basis, but some current examples include:
1. Sign up for Zipcar and get $10 in SmarterBucks (easy way to earn $10 bonus).
2. Get 4% back in SmarterBucks rewards on CVS purchases.
3. Sign up for a free Rent the Runway account and get $2 back.
Take advantage of the SmarterBank SmarterBucks rewards program to earn cash back toward your student loan payments.
You may also be interested in the Upromise College Savings Program to earn cash back rewards toward an eligible 529 college savings plan.
Sign up for your SmarterBank account today to start paying off your student loans faster, plus get a $10 bonus when you reach your first $5 in rewards through the SmarterBucks rewards program.