This offer has now expired, you can view their new offer for $300 here.
Offer at a glance
- Maximum bonus amount: $250
- Availability: AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C
- Direct deposit required: Yes, $500+ monthly recurring deposit
- 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, limit may now be $250)
- Monthly fees: $7, waivable with direct deposit of $100 or more or minimum daily balance of $500 or more
- Early account termination fee: 6 months or bonus is forfeit
- Expiration date: September 19th, 2016
- Earn a sign up bonus of up to $250 with SunTrust & their checking account. Bonus is broken down as follows:
- Earn $125 when you:
- Open a new SunTrust checking account with the promotional code Q316CHKNGOLP1
- Deposit at least $100 within 14 days of account opening and
- Complete at least $500 in Direct deposits within 60 days of account opening
- Earn an additional $125 when you continue to maintain at least $500 in monthly direct deposits until December 31st, 2016
- Earn $125 when you:
The Fine Print
- You must be a new SunTrust personal Checking client. Clients with an existing personal Checking account with SunTrust (either as the primary or secondary account holder) are not eligible.
- You must not have closed a personal Checking account within 180 days of the promotion start date (on or after February 3, 2016).
- Offer available only to U.S Residents with a U.S address and a U.S. taxpayer identification number.
- The checking account must be opened online or in a SunTrust branch in the following states: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and the District of Columbia
- After meeting the qualification requirements, each $125 reward will be credited to the new checking account up to 8 weeks after the applicable qualifications are met
- The new account must remain open and in good standing with a positive balance until each reward is processed in order to receive the applicable reward. If the checking account is closed by you or SunTrust within 180 days after opening, SunTrust reserves the right to deduct the reward amount from the account at the time of closing.
Essential Checking – $7 Monthly
This account is the easiest to keep fee free, 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+
This bonus is a little different from what SunTrust usually offers, in some respects it’s better (can open an essential checking for the full bonus and no savings account required) and in some cases it’s worse (need to maintain a direct deposit until December). Personally I think this is their best offer yet, as it’s easier to keep the account fee free and you don’t need to tie up $5,000 in the savings account. Meeting the direct deposit requirement has been pretty easy as well. Because of this we’ve added it to our list of the best bank account bonuses.
Big thanks to reader, Chris M who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
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My account just got hit for the monthly fee. I was shocked as i thought to avoid fee just do a $100 dd per month or maintaining $500 balance. I’ve been doing $100dd every month even though most of the time i have more than $500 in balance. But this month my balance fell below $500 but i thought since i have $100 dd i’d be okay. Now i come here to read the detail again and realize the discrepancy in your writings. On top summary you stated a $100 dd to avoid fee, but in detail contents below said $500dd. I guess it’s my fault that i didn’t catch this before.
SunTrust told me I won’t get a 1099 for this bonus. Can anyone confirm?
Doesn’t matter if you get 1099 or not, still required to pay taxes.
My second $125 bonus posted on Jan 19.
Looks like everybody is getting their bonus around the same time, no matter when their statement date is.
My second $125 bonus posted today also! Thanks DoC!
The second $125 bonus posted today. A big thanks to DOC!
Has anyone gotten the second $125?
I have not gotten it, but the language according to DoC was this:
“Earn an additional $125 when you continue to maintain at least $500 in monthly direct deposits until December 31st, 2016.”
Because it calls out Dec 31 so specifically, I am expecting that the bonus won’t be given until some time in January.
Let’s hope so.
im also still waiting for the second $125.00. The first bonus of $125.00 came relativity quickly.
The fine print also says that it may take up to 8 weeks before a bonus materializes. That, coupled with the explicit mention of Dec 31 as the time where they decide if the 2nd requirement has been met, may mean that we have a while longer to wait.
I got my last bonus on Oct 17, and at the time I thought I remember seeing that date (the 17th) as key for them. So maybe I will get my bonus on Jan 17. Alternatively, they may not give it to me until after my Jan statement prints, which for me will be between Jan 22 and 24.
Regardless there’s still a lot of reasons I would not have received it yet, so I will not get too worried until a few business days after my Jan statement.
I was able to trigger the first $125 bonus with an ACH transfer from USAA. I had set up a regular DD, so this is a nice surprise. I’ll just let the DD keep going to get the other $125.
I had planned to open my Suntrust account a week ago, and then I forgot. Looks like the deadline is two days from now (Monday Aug 19) and I am already into the weekend which is non-business days.
Does Suntrust (and/or other banks in general) define the “date you opened the account” to be the date that the initial funding appeared in the account?
If so, I am wondering whether I am basically too late. Unless I go in in person and give a banker $50 in cash for the funding I am doubtful that other funding methods would go through by COB Monday (e.g. CC funding, ACH transfer, etc.)
Can the Docs or anyone else comment? Grateful thanks in advance…
Sorry…. typo in my post above… meant to say that the deadline was Sept 19….
Promotion is usually extended, but it should be based on when you apply for the account.
Many thanks. So you think Suntrust will announce they are extending it beyond tomorrow?
I’d be surprised if they didn’t, it might not be the exact same promo but I imagine it’ll be pretty similar. Sometimes it disappears for a few days as well but it’s almost always available.
I opened my account three weeks ago and have had two direc deposits post already. No bonus. Anyone else’s taking awhile?
I called in today (account open for about a month) and was told that I would be receiving the first bonus sometime in late October. I have a work DD, so calling in isn’t an issue for me.
I used Discover and it coded as a P2P, not sure if it will work still, will update
Received an email on 10/04 saying I received the $125 bonus (and I did) DESPITE the fact that discover coded as P2P