Sovereign Bank is offering a $100 gas gift card bonus for a personal checking account and a $200 gas gift card for a business checking account. Here's the promotional page link.
For the personal checking, the first $50 requires using your Visa check card 6 times in the first 60 days. The second $50 requires direct deposit. A minimum deposit of $100 is required.
For the business checking, the whole $200 is awarded after you use the Visa check card 6 times in the first 60 days. A minimum deposit of $500 is required.
Both promotions end on 3/14/08. Customers that currently have or have had a checking account in the last six months at Sovereign are not eligible. The face value of the Gas Rewards Card(s) will be reported to the IRS as interest.
For a previous Sovereign checking promo, I've been told by a Sovereign CSR that people in any state could apply using the online application. I haven't checked with Sovereign on this promo. The small print does state the following:
If opening your account in PA, you can use your Gas Rewards Card(s) at all Sunoco locations. If opening your account in CT, MA, MD, NH, NJ, NY or RI, you can use your Gas Rewards Card(s) at all Exxon/Mobil locations.
The Personal 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.
For business accounts, the Free Business Checking qualifies for this promo. Note, banks often require registration/license documentation for your business to open a business account.
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).