SunTrust Bank, $100 or $200 Checking Bonus

SunTrust Bank is offering a $100 or $200 bonus when you open a new Essential Checking or Select Checking account respectively. The account must be opened between August 3, 2015 and October 12, 2015. The requirements obviously vary a bit for each bonus.

Suntrust 100 200

The accounts can be open online or in-branch, but when you open them online make sure to enter the promo code in the first page of the application and the check the “Special Offer” box on the second page.

$200 Bonus

  • Open a Select Checking account (or a Signature Advantage checking account at a branch)
  • Use ONLINECHK200 when opening Select Checking online
  • Make $2,000 or more in direct deposits within 60 days of account opening

$100 Bonus

  • Open an Essential Checking account
  • Use ONLINECHK100 when opening Essential Checking online
  • Make $500 or more in direct deposits within 60 days of account opening

Minimum balance to open an Essential, Select or Signature Advantage checking account is $100. Your new account must remain open and in good standing with a balance of at least $1.00 when the reward is processed in order for you to receive the applicable reward, which will be credited to the new checking account 8 weeks after the qualifying direct deposit is made.

Fees

Select Checking comes with a $15 monthly fee that can be waived with the following options

  • $2,000 or more in total qualifying monthly direct deposits
  • $2,000 minimum daily Select Checking balance OR
  • $10,000 total combined relationship balances (linked across deposits, investments, mortgages and loans)

Essential Checking comes with a $7 monthly fee that can be waived with the following options

  • Minimum of 10 Banking Transactions per statement cycle OR
  • $500 or more in total qualifying monthly Direct Deposit(s) OR
  • $500 minimum daily balance OR
  • A 5-year Student Waiver

If you do get charged a fee, remember to always ask for a refund at least for the first charge.

Who is eligible?

Current customers or customers who closed a personal checking account within 180 days of the promotion start date will not be eligible for the promotion.

The offer is available only to U.S. Residents with a U.S. Address in the following states: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington D.C., and West Virginia.

Which one should you pick?

If you can make $2000 in direct deposits, then you should just go for the $200 bonus. The first month’s $2000 deposit will fulfill the bonus requirement and also waive the monthly fee. So even if you get charged a fee for the following five months for the Select Checking account, you’ll end up paying a total of $75 in fees. That will give you a $125 bonus.

I’m forced out of this offer since I’m not in one of the lucky states.

Offer Details

  • Apply Online Here or Print Coupon to Apply In Branch
  • Account Type: Essential Checking, Select Checking, Signature Advantage Checking
  • Availability: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington D.C., and West Virginia
  • Expiration Date: 10/12/2015
  • Hard Inquiry: No
  • Opening Deposit Credit Card Funding: Yes up to $1000
  • Direct Deposit Requirement: $2000 or 500
  • Monthly Fee: $7 or $15 but waivable (see above)
  • Closing Account Fee: 25 if closed within 6 months

HT: maximizing money

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