[Expired]SunTrust $100 Or $200 Checking Promotion [AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only]

There is now a new offer for $250, find out more here.

Extended again

Re-posting because offer has been extended until January 29th, 2016. Also added the new promo codes.

Offer at a glance

• Maximum bonus amount: $200
• Availability:  AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C
• Direct deposit required: Yes, up to $2,000. Almost anything will trigger this requirement, but they often request you bring in pay stubs to prove your depositing your full pay check into your account.
• Additional requirements: Yes, see below.
• Hard/soft pull: Soft pull
• Credit card funding: Up to $1,000 (although there have been reports of cash advances and issues with CC funding)
• Monthly fees: $7, waivable with direct deposit of $100 or more or minimum daily balance of $500 or more
• Early account termination fee: $25 if closed within 6 months
• Expiration date: October 12th, 2015 January 29th, 2016 March 24th, 2016

The Offer

Direct link to offer

Remember to use the promotional codes, otherwise you might not receive your bonus.

• Receive $100 bonus if you open an Essential checking account with the promo code Q1ESSENTIALOL16:
  • Make a direct deposit of $500 or more and
• Receive a $200 bonus if you open a Select checking account with the promo code Q1SELECTOL16:
  • Make a direct deposit of $2,000 or more and

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
• Direct deposit and bill pay requirements must be completed within 60 days of opening the account
• You can only receive one bonus and limit of one offer per household
• You must have a balance of at least $1 when they go to deposit your bonus, otherwise you will not receive it
• Bonus will post to your account within 8 weeks of you completing the requirements
• A qualifying direct deposit is a direct deposit of your salary, pension, social security, or other regular income. In the past this has not been enforced, click here to see what has triggered the bonus in the past.
• SunTrust clients who already have a personal checking account with SunTrust (as a primary or secondary account holder) are not eligible for this promotion
• SunTrust clients who closed a personal checking account within 180 days of the promotion start date will not be eligible for a promotional reward
• Limit one per household

Avoiding Fees

The full fee schedule can be viewed by clicking here.

Essential Checking – $7 Monthly

This is the account that is required for the $100 bonus, the monthly fee on this account is waived if you do any of the following:

• 10 or more debit card transactions
• Minimum daily balance of $500+
• Total monthly direct deposits of $500+

Select Checking – $15 Monthly

This is the account that is required for the $200 bonus, the monthly fee of $15 is waived if you do any of the following:

• Total monthly direct deposits of $2,000+
• Minimum daily balance of $2,000+
• Total relationship balance of $10,000+
• SunTrust first mortgage with SurePay

Early Account Termination Fee

If you cancel your account within six months, they will charge an early account termination fee of $25

Our Verdict

They offered a similar $100/$200 bonus late last year, it was easier to keep the account for the $200 bonus fee free but the bonus requirements also included bill pays. Back in April they offered a $150 bonus for the Essential checking account (then called everyday checking), so if you’re considering the $100 bonus I’d wait for the $150 to come back.

The $200 bonus is a pretty good offer, especially considering these SunTrust checking bonuses can be churned. I’ve added these bonuses to our bank bonus list and also on our best checking bonus list.