SunTrust Bank is again offering a $100 or $200 bonus when you open a new Essential Checking or Select Checking account respectively. The account must be opened between November 7, 2015 and January 24, 2016. The requirements obviously vary a bit for each bonus.
The accounts can be open online or in-branch, but when you open one online make sure the promo code is entered on the first page of the application and then “Yes” is selected to enroll in the offer in the following page.
- Open a Select Checking account (or a Signature Advantage checking account at a branch)
- Use Q4CHKONLINE200 when opening Select Checking online
- Make $2,000 or more in direct deposits within 60 days of account opening
- Open an Essential Checking account
- Use Q4CHKONLINE100 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.
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 OR
- $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 definitely go for the $200 bonus. The first month’s $2000 deposit will fulfill the bonus requirement and also give you the minimum balance requirement to avoid the monthly fee.
I’m forced out of this offer since I’m not in one of the lucky states.
- 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: 01/29/2016
- 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