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Checking Account Bonuses at Sovereign Bank

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Santander Bank, N.A
Sovereign Bank is offering checking account bonuses that it calls the Dine & Fly Rewards. For opening the Free Checking with a minimum $100 deposit, you can choose either a $100 Dining Dough Card or a Roundtrip Companion Airline Ticket. Make 10 Visa CheckCard purchases within 60 days of opening your account and you earn an additional $100 Dining Dough Card. Opening the Free Interest Checking or the Premier Checking instead of the Free Checking can earn you additional Roundtrip Companion Airline Tickets. See promo page for details. Promotion ends on August 31, 2007.

It should be noted that the value of these gift certificates can vary greatly. I noticed $100 Dining Dough gift cards going for $20 on ebay. The value of the Companion Airline ticket can be diminished if the initial flight price is too high. So keep these issues in mind. See the Dining Dough website to find out more about this service and to see if there are eligible restaurants near you.

The Free Checking has no monthly balance requirements or monthly fees, and it has free BillPay. You must purchase your own checks after the starter checks. The Free Interest Checking has the added benefits of free checks and no fees on using other banks' ATMs (but no refunds on other banks' fees). It requires some type of direct deposit. The Premier Checking has some additional benefits but requires a combined balance of $15K to avoid monthly fees.

I was told by the customer service, that you can qualify for this promotion from any state if you apply online. Branches are located in the Northeast in the states of Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. The bank is FDIC insured (Certificate # 29950).

Thanks to the reader who mentioned this promotion in the finding deals post.
  Tags: Santander Bank, N.A, checking account

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Comments
2 comments.
Comment #1 by Anonymous posted on
Anonymous
Sovereign is a terrible bank. The website is down more than up. To make a wire transfer or cash in a CD you must go to a branch in person; they won't let you do it by mail or fax. They hung on to my matured CD funds for a week before releasing them to me; it took 20 phone calls & faxes and several supervisors to straighten things out. The customer service people are all newbies, so that you're always having to ask for a supervisor. Their CD rates are never competitive. ETC

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Comment #2 by Anonymous posted on
Anonymous
Dining Dough is actually the same as Restaurant.com. They sell $25 certificates for $10 regularly but often have 50% or even 60% off sales toward the end of every month. Thus a $25 certificate is worth about $5 and $100 is worth $20. If you use their 60% off deals $100 is worth only $16.

1