Update 3/16/17: Availability limited residents of NH, MA, RI, CT, DE, NY, NJ & PA only.

Get $225 when you open a new Simply Right Checking ($25 minimum opening deposit), Santander Basic Checking ($25 minimum opening deposit), or Santander Premier Plus Checking ($50 minimum opening deposit) account by 3/31/17. To get the bonus you need to have direct deposits totaling $500 or more post to this account within the first 90 days of account opening. You need to use promo code WINTER225.

The account needs to be open for at least 90 days and remain open in an eligible account type until payment of bonus, which will occur within 30 days thereafter.

You can apply online or in branch.

Eligibility

Offer is available nationwide in NH, MA, RI, CT, DE, NY, NJ & PA. You must be 18 years or older.

Offer is not available if any account owner is a current deposit customer of Santander or had a Santander deposit account in the last 12 months prior to account opening.

Direct Deposits

Direct deposits include deposits made by your employer or a federal or state government agency or retirement benefits administrator and generally payments made by corporations or other organizations. It does not include deposits to your Account that are made by an individual using online banking or an Internet payment provider such as PayPal.

That’s the fine print in the offer, which is pretty specific compared to other banks. Best option is to direct deposit your paycheck if that’s possible, but ACHs have also worked in the past, with the same language in terms.

Guru’s Wrap-Up

A great bonus, and unlike similar bonuses that came out recently, it is a public offer. The best option is the Simply Right Checking account, which has a higher fee than Basic checking, but it is waiveable. All you need to do is one transaction a month to keep it fee-free, such as bill pay. To get the bonus, just open the account with $500 credit card funding (set CA fees to $0) and then do a direct deposit of $500.

Offer Details

• Apply Here
• Promo Code: WINTER225
• Account Type: Simply Right Checking (best option)
• Availability: Nationwide NH, MA, RI, CT, DE, NY, NJ & PA.
• Expiration Date: 3/31/2017
• Inquiry Type: Soft pull
• Credit Card Funding: Up to $500 (Online)
• Direct Deposit Requirement: Yes (total of $500 within 90 days)
• Other requirements: No
• Monthly Fee: $10 (waiveable with one monthly transaction)
• Closing Account Fee: Must be kept open for 90 days to receive bonus

HT: DoC