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As bankers anticipate a rise in interest rates, they're looking for ways to attract and hold on to depositors. Many institutions are simply offering cash, but others are making more creative pitches. Here's a look at some of the unconventional methods banks are using to lure deposits.

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Free Smartphones

North Shore Bank in Brookfield, Wis., is offering a free Android phone to consumers who open checking accounts. Like a lot of free mobile phone offers, the deal is only good for customers who agree to a two-year subscriber agreement.

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Reading is Fundamental

Over the summer, TD Bank offered kids cash in exchange for cracking open a few books. Children who had a TD Youth Saver account and read 10 books were eligible to receive $10.

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Raffle Tickets

Banks are using prizes not only to attract new deposits, but also to make it less likely that their existing deposits will leave. One way for banks to hold on to deposits is by persuading customers to use person-to-person money transfer apps. BBVA Compass in Birmingham, Ala., is offering customers who use its Popmoney service the chance to win a $100 daily raffle.

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Explore Museums

Bank of America is marketing itself to art lovers. On the first weekend of each month, B of A debit-card holders are eligible for free admission to more than 150 museums nationwide. On the list are the Art Institute of Chicago, the Whitney Museum of American Art in New York and the Los Angeles County Museum of Art.

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Miles and Miles

Airlines miles are an old standby of the credit card industry, but they're also being used as an incentive to stash money in a checking account. UFB Direct, which is a division of BofI Federal Bank in San Diego, offers one mile/point at participating airlines for every $2 point-of-sale debit-card transaction its customers make.

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Traditional Appeal

Some financial institutions, such as Santander Bank, think old-fashioned cash still has cachet. The Spanish bank, which has U.S. headquarters in Boston, is giving $20 per month to depositors who meet certain criteria.

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Security Software

First Republic Bank in San Francisco is offering a $25 bonus to its depositors, but there<92>s a twist. Customers become eligible for the money when they download online banking protection software. The offer may make the bank's deposits more likely to stick around; it also has the added benefit of improving the bank's digital security.

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