You have to deposit $50,000 within 30 days to earn the bonus but you only need to keep the funds there for 15 days.
The bonus funds don’t credit for 90 days so you have to keep your account open that long — pull the funds after 15 days, you’re looking at $90 in fees but net of $310.
$310 in 15 days on a $50,000 deposit should work out to something like a 15% annualized return on those funds.
Obviously this offer isn’t for everyone or even for most, it’s a good return for those with $50,000 liquid. It highlights how valuable a new high net worth account is to the bank — though it’s striking that they only require the funds in the account for 15 days, they’re certainly open to hot money and being gamed. That tells me the key metric for marketing is accounts in this category opened, not profitability of those accounts.
(HT: Joe Brancatelli)