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No. of Recommendations: 8
"Bait and Switch" refers to a scam where the customer receives something of lesser value than what is advertised. Since Everbank has put forth the complete details of their offer, including the fact that the higher APY is only available for a limited time, this cannot be considered "bait and switch". One should compare this sort of offer to, say, an account opening bonus, or free toaster, or whatever other one-time benefits which are extended to new accounts.

I, for one, do not expect my bank to deposit each and every month the account opening bonus I initially received, nor do I call my bank a "bait and switch firm" for not doing so.
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