UPDATE 4/4/2017: Offer has been extended through July 3, 2017.
Deal Summary: $100, $200, and $300 bonuses when opening a new SunTrust checking account.
SunTrust Bank’s (SunTrust) Q117 checking bonuses have expired and replaced with the Q217 checking bonuses. The qualifying requirements have remained the same, as has the dollar amount of the bonus for each new checking account.
- $100 bonus when opening a new Essential Checking account.
- $200 bonus when opening a new Select Checking account.
- $300 bonus when opening a new Signature Advantage account.
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- Open a new SunTrust checking account, and
- Deposit at least $100 with 14 days of account opening, and
- Complete at least $500 Direct Deposits* within 60 days of account opening, and
- Make at least 10 debit card purchases within 60 days of account opening.
*SunTrust defines a qualifying Direct Deposit as follows:
A qualifying Direct Deposit is an electronic credit of your salary, pension, Social Security, or
other regular monthly income deposited to your account by your employer or an outside agency.
- The bonus will be credited to the new checking account up to 8 weeks after the applicable qualifications are fulfilled.
- Checking account must be open in good standing with a positive balance when the bonus is processed to receive the applicable bonus.
- Minimum opening deposit for a new checking account is $100, which must be completed within 14 days.
- The monthly maintenance fee (Essential Checking $7, Select Checking $15, Signature Advantage $25) can be waived by meeting daily balance requirements or monthly direct deposit requirements.
- If the checking account is closed by you or SunTrust within 180 days after opening, the reward amount will be deducted from the account at the time of closing.
- Those who have an existing SunTrust personal checking account are not eligible.
- SunTrust customers who have closed a personal checking account with 180 days of promotion start date (i.e., on or after October 15, 2016) are not eligible.
SunTrust Bank’s Q217 checking promotional offer is available to any U.S. resident, 18 years or older, with a mailing address in Alabama, Arkansas, the District of Columbia, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia now through July 3, 2017.
If opened online, the promo code Q217CHKNG123OL must be entered on the application. If opened in-branch, a coupon is required, which will be sent via email upon request.
SunTrust Bank, has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 3.87% (excellent), based on December 31, 2016 data. In the past year, SunTrust Bank has increased its total deposits by $9.52 billion, an excellent annual growth rate of 6.51%. Please refer to our financial overview of SunTrust Bank (FDIC Certificate # 867) for more details.
Founded in 1891 as the Commercial Travelers' Savings Bank, today’s SunTrust Bank has assets in excess of $200 billion and more than 6.8 million customer accounts. As Georgia’s largest bank, SunTrust Bank operates more than 1,350 branches and 2,200 ATMs throughout the Southern states.
How SunTrust Bank's Q217 Checking Bonuses Compare
Assuming the $500 Direct Deposit is left undisturbed for six months in an Essential Checking account to avoid the $7 monthly maintenance fee:
- $500 in an Essential Checking for six months = $100 bonus
- $500 in a 1.00% savings account for six months = $2.49 interest
Assuming a $2k minimum daily balance is maintained for six months in a Select Checking account to avoid the $15 monthly maintenance fee:
- $2k in a Select Checking for six months = $200 bonus
- $2k in a 1.00% savings account for six months = $9.99 interest
Note: Waiving the Signature Advantage’s $25 monthly maintenance fee requires a $25,000 minimum daily balance in linked deposits and investments. In other words, the $300 bonus on a Signature Advantage account could be substantially reduced by monthly maintenance fees.
Other Bank Promotions and Bonuses
Not eligible for SunTrust Bank’s Q217 checking bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.