Here is a checking account bonus from Sovereign Bank that is regularly featured as on the best checking account promotions available online.
Banks regularly offer these sign-up bonuses for new checking account holders to get new customers in the door – so they can eventually sell them on additional banking products (credit cards, auto loans, mortgages, etc).
Before signing up with any new checking account, make sure you read the fine print as fee’s are being imposed more frequently by many of the country’s largest banks. The fees are almost always associated with ‘low value clients’ (ie anyone with a limited assortment of assets with the bank). As a general rule of thumb, if you aren’t maintaining average monthly balances of anywhere from $1,000 to $5,000 you should watch out for a $9-$18 monthly fee depending on what specific bank you’re doing business with.
Now on to the bonus…
Although this checking account bonus is not available throughout the entire country, many of us are still eligible. We have a hunch that ever since Chase Bank began plastering their $100 checking account promo all over every billboard in America, we felt many banks needed to step in and offer their own cash bonus for a new checking account.
Here is what you have to do to earn the $100:
- Open a new Sovereign Premier Checking, Business Owner Premier Checking, Interest Checking or Partnership Checking account by October 30, 2009, with a minimum opening deposit of $100.
- Request a Sovereign CheckCard and make 2 CheckCard purchases within 60 days after you open your account.
- Open any Sovereign savings or money market savings account with a minimum opening deposit of $100 or already have a savings or money market savings account.
- Enroll in Online Banking at account opening.
After you have completed those 4 steps they will toss the $100 into your new account. This checking account promotion is available in ME, VT, NH, CT, RI, MA, NY, NJ, PA, WV, MD, DE, & District of Columbia.