Sign-up bonuses. Spiral is also offering some
- $50 bonus when you fund your new Spiral checking account with at least $200 by November 30, 2021.
- $200 bonus after recurring direct deposits of at least $1000 each month for two consecutive months.
Inactivity fee warning. They promise the usual no minimum balance and no monthly fees, but there is an inactivity fee that is relatively punitive:
Spiral will charge your account $7 per month (up to 6 months) if you do not make a deposit or withdrawal for 90 days. Interest posting is not considered a deposit for purposes of this fee.
Giving Account details. Here’s an excerpt from the terms of their Giving Account:
As a condition to opening and maintaining a Spiral Account and receiving the Spiral Services, you must open an account designated as your donation or giving account (the “Giving Account”). Upon establishing your Spiral Account, you must deposit an amount equal to no less than 0.25% of your initial and future deposits to your Checking or Savings Accounts in the Giving Account. You may select (and periodically adjust on the Spiral App and Spiral Website) by indicating the percentage (between 0.25% and 20%) of each deposit (rounded down to the nearest penny). You agree to direct the distribution of funds in the Giving Account to a charitable organization of your choice that is an organization that qualifies as an exempt organization under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, through the Spiral App and Spiral Website.
They have a very large directory of millions of eligible nonprofits.
Application details. I found this app interesting and decided to try it out. The application was straightforward, 100% online, and took a few minutes. My
My $250 deposit is pending, but I was reminded that $0.62 will be set aside for my giving account (see screenshots below). It appears that Spiral also seeded my giving account with a $5 “Giving Cash Bonus” as well. I discovered that the savings account only pays 0.07% APY, so I did not open one. I intend to go for the direct deposit bonus as well.
“The editorial content here is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone. This email may contain links through which we are compensated when you click on or are approved for offers.”
Copyright © 2004-2021 MyMoneyBlog.com. All Rights Reserved. Do not re-syndicate without permission.