Sovereign Bank Offering $100 Bonus to Open Account
Sovereign Bank is offering a $100 bonus to open a premier or interest checking account by May 22, 2009. However there is catch.
- You have to use your checkcard to make 6 purchases totaling at least $250 within 60 days.
- You must have a minimum opening deposit of $10.
- The Annual percentage yield (APY) is a lousy 0.02% for Sovereign Premier Checking or Business Owner Premier Checking when balance is less than $5,000 and 0.15% APY when balance is $5,000 and above.
- There is an APY of 0.02% for Sovereign Interest Checking. APY of 0.02% for Sovereign Partnership Checking when balance is less than $2,000 and 0.10% APY when balance is $2,000 and above.
- The offer is valid for new accounts only.
- The fine print also says that fees may reduce earnings.
- There are also maintenance fees ranging from $5 to $25 per month if your balance falls below certain thresholds.
Overall, it’s not really a good deal. For more information visit SovereignBank.com.
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