The Free GPS bonus requires opening the checking account with new money by 9/12/10 and setting up direct deposit of at least $250 and completing 5 debit card purchases of at least $25 each.
The GPS model appears to be TomTom XL330 with a value of $159 (according to the hard-to-read small print), and according to the small print, you'll be taxed on this value, plus sales tax and the cost of delivery. That's one downside with merchandise bonuses.
This offer appears only available at Flushing Bank branches which are located in the New York City metro area.
Below if the small print from the promo page (copied the best that I could). Click on the details link above for the promo page.
New checking accounts and new money only. Checking account must be opened between 06/21/10 and 09/12/10. In order to qualify for the TomTom GPS you must 1) open a new active checking account with new money, 2) sign up for and receive a recurring direct deposit of $250 or more, and 3) complete 5 debit card purchases of at least $25 each. The direct deposit and debit card purchases must be completed prior to 45 days after the end of the promotion. The direct deposit must be recurring deposit of $250 or more credited to the new account account on at least a monthly basis. Tax refunds are not considered as eligible direct deposit. The TomTom XL330 GPS will be sent to qualifying account holders on or about November 15, 2010. The promotion is subject to change and early termination without prior notice at any time. The cost of the TomTom GPS (including sales tax and delivery charges) will be reported as interest income to the IRS in the form of 1090-INT. The current retail value of the TomTom XL330 is $159. Flushing Bank assumes no responsibility for any defects and the warranty is the sole responsibility of the manufacturer. The offer is limited to one per household.