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Sovereign Bank $100 Cash Bonus

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Sovereign Bank will give you $100 for opening a checking account. You receive the promotional bonus when you open a Sovereign Premier checking account or an Interest Checking account and make a minimum deposit of $10 and request a Sovereign Check Card. 

You also have to make 6 purchases using your  Sovereign Check Card within 60 days of opening the account. If you reach the criteria of 6 purchases in 60 days then the $100 promotional bonus will be deposited into your account within 15 days after the expiration of the 60 day period. There is a limit of one $100 credit per customer and your account must be open to receive the credit.

The annual percentage yield on the accounts is nothing to write home about. For balances of less than $5,00o on the Sovereign Premier checking account  APY is 0.02 percent. For account balances of $5,000 and above the APY is 0.15%. For the Interest Checking account the APY is 0.02 percent.

Considering how low the rates are if you take advantage of this checking promo deal we suggest keeping a low balance on the account, but not so low that you incurr charges for insufficient funds when trying to meet the requirement of 6 purchases in 60 days.

Author: Brian McKay
April 16th, 2009