SunTrust Bank Offering a $1,000 Bonus in Select States
SunTrust Bank has a new bonus offer that can get you up to $1,000 in cash. This offer is available only in a few states from January 5, 2021 through March 31. You need to be in Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington D.C., or West Virginia. If that applied to you, then let’s get into the details of the offer.
The Offer
You can earn up to $1,000 when you:
- Open any new SunTrust personal checking account and complete the following requirements:
- Have qualifying Direct Deposits totaling $500 within 90 days of account opening.
- Open any new SunTrust savings or MMA (CD and Individual Retirement Accounts are not eligible for this offer) and deposit the balances below within 30 days and maintain for 90 days after account opening:
- Less than $10,000 = $300 Bonus
- $10,000 – $24,999.99 = $400 Bonus
- $25,000 – $49,999.99 = $600 Bonus
- $50,000 -$99,999.99 = $800 Bonus
- $100,000 or more = $1,000 Bonus
Accounts must be opened on the same day and with the same account ownership to be eligible for the reward. Enrollment in the promotion is required at account opening using promo code CHKSAVQ121. The reward will be deposited into the new checking account within four weeks of verifying all qualification requirements.
Offer Terms
- Offer expires March 31, 2021.
- For new checking, savings or money market clients only. You must not have closed a personal checking account within 180 days of the promotion start date.
- The checking account must be opened online with, and the client must have, an address in the following states: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia.
- Advantage Checking has a $20 monthly fee that is waived with $3,000 or more in Total Monthly Qualifying Direct Deposits
- SunTrust savings or MMA accounts don’t have any monthly fees.
Conclusion
This is a big bonus, but to get the full amount you need to be in one of the eligible states and deposit a large amount of money. You need to open a checking account and have $500 in direct deposits, and then deposit $100K in a savings or Money Market account. You have to keep the money in there for 90 days. So this bonus works out to a 4% APY if you deposit exactly $100K. For the lesser bonuses the rate actually gets better.
HT: Doctor of Credit
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Sweet! I live in DC and there’s a SunTrust 4 blocks from my house! Thanks for the info!
I see West Virginia in one area of your post, but not the other. I do not see WV in the terms on their site.