$100 Checking Account Bonus at Sovereign Bank
Jan 18, 2009 - 4:15 PM by Ken Tumin
- Open a Primier or Interest Checking Account along with a Sovereign CheckCard and a $10 deposit by 2/27/2009
- Make 6 purchases within 60 days of opening your account
- Receive a $100 cash bonus credited to your account 15 days after the 60-day opening period
- bonus will be reported to the IRS as interest
- Current personal checking customers or anyone who has had a personal checking account with Sovereign Bank or any of its divisions in the last 6 months are not eligible for this offer
A reader in my September 2008 Sovereign Bank post reported problems with a previous promotion and poor customer service. If you've tried a previous Sovereign promotion, a comment about your experience would be appreciated.
When I called Sovereign Bank in April 2008 regarding a similar promotion, I was told that there's no account closure fee if an account is closed after 90 days. Otherwise, it's $25. The CSR also said they don't perform a hard credit inquiry. They just use ChexSystem in the application.
There's an online application link in the promo page, and it appears available to people in any state. However, in April I received conflicting reports about if a branch visit was required to receive the bonus. I recommend checking with Sovereign Bank if you're considering this offer. 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).
Banks Mentioned in this Post:
Featured Savings Account
Nationwide Savings Accounts
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Anonymous - #1, Sunday, January 18, 2009 - 5:47 PM
I opened an account at Sovereign in September and received the bonus in a very timely fashion, it was credited to the account on the 91st day it was open. I opened the account in person, and the staff was very friendly and helpful.
Anonymous - #2, Monday, January 19, 2009 - 5:53 AM
I tried to get the September 2008 Sovereign Bank bonus promotion. I emailed Sovereign Bank 4 times & they said it was good for out of state applications.
I did online application, then sent in money order. It was returned, no explanation, I called Sovereign Bank & their customer service had no idea of anything. One customer service rep said because I "didn't live in Boston"...
Anonymous - #3, Monday, January 19, 2009 - 4:53 PM
anyone know if paypal ach count as direct deposit?
or does it have to be payroll
Anonymous - #4, Wednesday, January 21, 2009 - 4:30 AM
I'll try it again. (I tried to get the September 2008 Sovereign Bank bonus promotion.)
is the Sovereign Bank bonus promotion good for out of state applications?
"Thank you for your recent email. As long as you fulfill all of the promotional requirements.
You may reach a Personal Banking Representative by contacting us at: 1-877-SOV-BANK (768-2265), select your language preference, Option 1 for personal accounts, and select the appropriate menu option. "
Anonymous - #5, Monday, February 2, 2009 - 8:53 PM
Identity theft for some Sovereign CheckCard holders:
"Sovereign Bank was recently notified by Visa that Heartland Payment Systems, a provider of card processing for merchants, has had a breach of customers' credit and debit card information, including some Sovereign CheckCards."
http://www.sovereignbank.com/personal/promotions/announcements/heartland-payment-system.asp
Anonymous - #6, Tuesday, December 8, 2009 - 2:07 PM
Actually Sovereign Bank is very unhelpful, their staff are not knowledgeable and they make no effort to keep their customers happy, or even keep their customers. They are one of the worst banks I have ever dealt with in terms of customer service.
If you have an issue and call their customer service line all you get is a robot reading from a script.
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