Sovereign Bank is offering a cash bonus of up to $125 when you open a new checking account package (the bonus depending on the checking account package).
New customers must open a new checking account package, which comprises a checking and savings account, through Sovereign Bank’s online promotional page by Jan. 31, 2013 to earn the bonus.
To qualify for the bonus, you have to make five debit card purchases or post one direct deposit by March 31. The cash bonus will arrive by April 15.
The cash bonuses for their respective checking account packages are $50 for Classic Checking, $75 for Preferred Checking and $125 for Premier Checking.
The minimum opening deposit required depends on the checking account package opened.
The Classic Checking package has a $5 monthly fee, which can be avoided with a $500 average daily balance. The Preferred Checking package has a $15 monthly fee, which can be waived with a combined $7,500 average daily balance in linked deposit accounts. The Premier Checking package has a monthly fee of $30, which is avoidable with a combined balance of $20,000 across linked Sovereign Bank deposit accounts, investment accounts and loans.