What if I told you that you could double your investment in a matter of weeks with no risk? It sounds too good to be true doesn’t it? Most things that sound too good to be true probably are, but this is not one of those. In fact I just did this, and I know several other people who have too.

Banks are still fighting to survive. Did you know that over 100 banks have failed this year? For a bank to survive it has to lend; and it must have money to lend. The money banks can lend depends on their deposits. So what are banks doing? They are enticing customers to deposit money into their bank and open new accounts. Banks have the ability to magnify money, so if you deposit $100, they may be able to lend ten to twenty times that. That’s how they are able to pay you anywhere from $50-$125 to open a new account!

Recently I took advantage of an offer like this from a bank that was offering to pay me $125 to open a new account with them. All I had to do was open a new account with this bank. I also had to make sure that I had at least $100 in the account within a month or so. Once the $100 was in the new account they would deposit an additional $125 within ten to fifteen business days. That turned my $100 into $225 in a few weeks. That is a 100% return on my investment, with no risk!

I know some of you are saying, “Yeah but its only $125.” Yes, but you can find banks all over the place offering deals like this. Some may allow you to open an account in your name, your spouse’s name, and for your children. Look for offers in the mail, check the internet; these deals are out there. If you opened ten new accounts you could make an extra $1000 or more. These offers are the best short-term investments around right now!

Before doing this it is very important to get all the details and terms, because some are not as good as they appear. Also, keep in mind that you will be taxed on the additional income, but the net gain will still be way over fifty percent. There’s almost always a minimum amount to open the account with. Then sometimes they require you to leave the money in there a certain amount of time before you are allowed to withdrawal the money they give you. Also make sure you know if there are any fees related with the account. Is there a monthly fee? Can it be avoided? Do the terms require you to set up a direct deposit? Is there a penalty for closing the account or not maintaining a certain balance? Be very clear on the terms before agreeing to anything.

Remember this is now an investment. You may never hear me tell you again that putting money in the bank is an “investment.” But when you can double your money in a month or less that’s a good investment! And it’s a Win-Win. As soon as your money comes into the bank, they will send it right out in the form of loans to small businesses, home buyers, consumers, etc… This is helping money flow into the economy again. The bank now has created an asset and cash flow stream from your money that they lent and they will make much more than what they paid you to open the account. You have now doubled your investment and have extra cash.

If you know of banks that are offering these promotions please post comments below, so others can tak advantage of them too.