From the bank's promotion page:
Now through September 10, 2010, students who get a Student Banking Package - Student Checking and Free Student Savings - and add Free Online Banking, a Sovereign Debit Card and supply us with a valid email address, get a $25 cash bonus!* Students who use their Debit Card to make 5 purchases within 60 days of account opening get an additional $25!* That’s a total of $50!
Some important small print:
The Sovereign Student Banking package is available for full-time and part-time students between the ages of 17 and 25 attending a college, university, or other undergraduate level school. Proof of enrollment required.
Offer available only to residents in the following states: ME, VT, NH, CT, RI, MA, NY, NJ, PA, WV, MD, DE, and District of Columbia
This promotion isn't nearly as good as the Sovereign Bank $150 checking promotion
that ended last Spring. Hopefully, that will be offered again.