SunTrust Bank is offering a bonus of $100 for opening its Everyday Checking and for making a direct deposit of at least $500. As is typical for large banks, the checking account has potential monthly fees, but these can be easily avoided. The account must be opened online. It’s only available for those who live in SunTrust’s market areas (see below for list of states). Here’s the link to SunTrust’s promotions page. There’s no expiration date listed, but the promo page does warn that the "offer ends soon".
Below is a copy of the offer’s small print. Note, SunTrust customers who already have a checking account are not eligible for this promotion.
To qualify for the $100 promotional incentive, a new Everyday Checking account must be opened via the above "Open Now" link and a qualifying Direct Deposit of $500 or more must be deposited into the Everyday Checking account within 60 days of account opening. A qualifying Direct Deposit is a Direct Deposit of your salary, pension, Social Security, or other regular monthly income electronically deposited into your account by your employer or an outside agency. Your Everyday Checking account must remain open when the reward is processed in order for you to receive the $100 reward, which will be credited to the Everyday Checking account within 8 weeks after the qualifying direct deposit is made. SunTrust clients who already have a checking account with SunTrust (as a primary or secondary account holder) are not eligible for this promotion. SunTrust clients who closed a personal checking account within 30 days of the promotion start date will not be eligible for the $100 promotional incentive. The offer is only available online and by clicking on the above "Open Now" link. The offer is non-transferable and may not be combined with any other offers. Offer subject to change and may be discontinued at any time. Limit to one per household.
Credit for this find goes to FW member doctorofcredit who mentioned it in this FW forum. According to this thread, accounts can be funded with a credit card for up to $1,000.
Everyday Checking Overview
To waive a $7 monthly maintenance fee requires either maintain a $500 daily collected balance or direct deposit of at least $100 each month. If the account is closed within 6 months, there’s a $25 fee. On the positive side, your first 30-pack of SunTrust checks is included.
According to my online chat with a SunTrust CSR, this promotion is only available to those who live in SunTrust’s footprint. SunTrust branches are located in the following states: Alabama, Arkansas, District of Columbia, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia.
SunTrust is one of the large regional banks with $171 billion in assets, $133 billion in deposits and over 1,500 branches. It has an overall health grade at DepositAccounts.com of an A with a Texas ratio of 5.55% (excellent) based on December 2013 data. Please refer to our financial overview page for SunTrust Bank for more details. It has been an FDIC member since 1934 (FDIC Certificate # 867).