SunTrust Bank is offering bonuses for their Business Checking accounts with promo code SB16Q2INTERNET. You can get $200, $300 or $400, with increasing requirements. The account have to be opened before April 22nd and the requirements for each bonus are as follows:

$200 Bonus

• Open a Primary Business Checking account
• Make qualifying deposits totaling $1,500 within 60 days
• Activate Online Cash ManagerWithin 60 days

$300 Bonus

• Open a Total Business Banking account
• Make qualifying deposits totaling $5,000 within 60 days
• Activate Online Cash ManagerWithin 60 days

$400 Bonus

• Open a NEW SunTrust Business Advantage Plus account
• Make qualifying deposits totaling $20,000 within 60 days
• Activate Online Cash ManagerWithin 60 days

If you meet these conditions, your reward will be credited to the checking account 6-8 weeks after all qualifications and qualifying events applicable to your situation are verified.

Fees

All three accounts come with monthly fees from $12 to $25, but the fee is waived for the first 2 months.

• Primary Business Checking
  • $12 Monthly Fee
  • Waived with average balance of $1,500+
• Total Business Banking
  • $20 monthly fee
  • Waived with average balance of $5,000+, or $10,000 minimum balance when combined with a Money Market Account
• SunTrust Business Advantage Plus
  • $25 monthly fee
  • Waived when daily collected balance combined with two other SunTrust Business Advantage Plus accounts is equal to $20,000 or more

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

Who is eligible?

SunTrust clients who closed a business checking account after 10/10/15 are not eligible for the offer.

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.

Offer Details

• Print Coupon to Apply In Branch or Call 877-786-4444
• 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: 04/20/2016
• Hard Inquiry: No
• Direct Deposit Requirement: No
• Monthly Fee: $12 to $25 but waivable (see above)
• Closing Account Fee: 25 if closed within 6 months

I would consider the first two options. You’ll make a bit more with the $300 bonus, even when accounting for interest lost elsewhere. So if you can make the $5,000 deposit, then you should go for it. Otherwise, the $200 bonus is still great with minimal requirements.

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