On the heels of its successful first quarter strategy of offering new checking account customers signing up for a Premiere or Interest Checking Account, Sovereign Bank is again offering $100 during the second quarter for those successfully opening a new checking account with them.

There are several thing a potential customer must do in order to qualify for the $100 bonus for opening an Interest Checking Account or Premiere Account. Here is what those steps to take are to get the incentive:

1. To qualify, you must open a new Sovereign Premier Checking, Business Owner Premier Checking, Interest Checking or Partnership Checking account by October 30, 2009, with a minimum opening deposit of $100;
2. The next step you must take is to ask for a Sovereign CheckCard (”CheckCard”) and make a minimum of 2 CheckCard purchases within 60 days after you open your account;
3. If you already have a savings or money market savings account, this next step won’t be necessary, but if not, you need to open any Sovereign savings or money market savings account with a minimum opening deposit of $100;
4. Finally, you must enroll in Online Banking at the time of the account opening. When you qualify, you will receive a credit of $100 to your new checking account within 75 days after you open your checking account. There is only one $100 credit allowed per customer.

No matter whether we’re living in tough or good economic times, it’s always best to take advantage of every type of additional source of income and interest we can in our personal finances and bank accounts, and even though a checking account interest rate will never be that high, it’s something we get for simply following the terms of service from the financial institution or bank.

In this case, the $100 dollars also has a great incentive to grab a checking account from Sovereign Bank. Another reason? According to Global Finance Magazine, Sovereign Bank is among the ten most safe banks in the world, another reason to seriously consider opening an account with them.

Tags: bank bonus, checking accounts, online banking, Sovereign Bank

This entry was posted on Thursday, September 24th, 2009 at 7:00 am and is filed under reviews. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

• High Interest Checking Accounts Who wouldn't be interested in high interest checking account? Even in these tough times, you can get more than 5% interest from a checking account. [Note: When I wrote this article getting a high interest checking account was fairly easy....
• Why Credit Unions Instead of Banks In days of old when I was much less informed in financial matters (not that I'm a financial whiz now, but I have improved a little), I used to think credit unions weren't real "banks" or weren't as good as...
• Get a $25 Bonus for Opening a New High-Yield Savings Account with ING Direct If you’re going to open a high interest savings account on the internet, ING Direct is the place to go. It may not offer the highest interest rate around among online savings banks, but it is still a very competitive...
• Compounding Interest I've been doing micro loans on Prosper for a few months now. I have 31 loans with $1910 loaned out. I've only transferred in about $1750 which means that my interest is now being loaned out too!Thats the secret to...
• Using Credit Cards to Make More Money When it comes to credit cards, most of us think of them as a way to get things we really want right now. We may not actually "need" these things, but we sure do want them. Whether it's a new...