Consumers from the Northeastern states have until October 30, 2009 to open the best checking account with Sovereign Bank and benefit from the $100 cash bonus.
The checking account bonus can be enjoyed if you open an Interest or Premier Checking account with Sovereign. The initial deposit needed to open an account is just $100.
You should request a Check Card and use it to complete six purchases within 2 months amounting to at least $250 after opening the checking account. The bonus also requires you enroll with the online banking facility. Once you are qualified, the $100 bonus will be credited within 75 days to your checking account.
The checking account bonus is limited to the District of Columbia, DE, MD, WV, PA, NJ, NY, MA, RI, CT, NH, VT, ME. The bank also requires that the bonus should be reported to the IRS. This money in the bank deal is only good for new customers who have not had any account with Sovereign Bank in the last six months.
Take note that if you open a Premier Checking account, you need to maintain a balance of $25,000 to avoid a monthly fee of $25. The Interest Checking account gives free checks but it requires you to make a direct deposit or the bank will charge $5 every month.
A reader told us that the checking account bonus of $100 was credited to her account in a very timely manner. It is also a good news for those who don’t want their credit cards to be dinged since the bank does not do a hard credit pull when you open an account.
Interested consumers can open an account online using a secured form. You can also visit a local branch. If you have inquiries you can call 877-768-2265. They have offices in Rhode Island, Pennsylvania, New York, New Jersey, New Hampshire, Massachusetts, Maryland, and Connecticut.
The bank is insured with the FDIC through certificate number 29950.
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