Sovereign Bank $150 Cash Bonus

Open a Sovereign Bank Premier Banking package and you could earn a $150 cash bonus. The Premier Banking package includes a Premier Checking Account and Premier Money Market Savings Account. The offers is good through Nov. 12, 2010. Details of the offer include:

  • Checking account requires minimum deposit of $100
  • Must open money market account with $100 or have an existing money market
  • Must enroll in online banking when opening account
  • Must request a Sovereign Debit Card and use it to make five purchases within 60 days of opening account or set up direct deposit

After all the requirements have been met, you receive the $150 bonus as a credit in your checking account within 75 days of opening the account. Sovereign Bank’s money market and checking accounts have tiered interest rates.

Checking account balances earn the following:

  • 0.01% annual percentage yield (APY) for balances less than $15,000
  • 0.1% APY for balances of $15,000 and up

The money market earns:

  • 0.25% APY on balances below $10,000
  • 0.45% APY on balances of $10,000 to $24,999
  • 0.5% on balances of $25,000 to $49,999
  • 0.55% APY for $50,000 to $74,999
  • 0.6% APY on for $75,000 and up

Interest rates are effective as of Sept. 1, 2010.

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