Posted by William Charles on July 3, 2019
Bank Account Bonuses

Published on July 3rd, 2019 | by William Charles

20

SunTrust $300 Checking Promotion [AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only]

Offer at a glance

  • Maximum bonus amount: $300
  • Availability:  AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only
  • Direct deposit required: Yes, $3,000 for two consecutive cycles
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Mixed DP
  • Credit card funding: Up to $250 (lots of reports of it coding as a cash advance)
  • Monthly fees: $20, avoidable
  • Early account termination fee: 180 days or bonus is forfeit
  • Household limit: None
  • Expiration date: September 30th, 2019

The Offer

Direct link to offer

  • SunTrust is offering a bonus of $300 when you open a new advantage checking account and complete the following requirements:
    • Complete at least $3,000 in direct deposits per statement cycle for two consecutive cycles

The Fine Print

  • Earn $300 for opening a new SunTrust Advantage Checking account and completing at least $3,000 in Direct Deposits* into the new checking account, per statement cycle, for two consecutive statement cycles within the first three full monthly statement cycles**.
  • Offer valid for new personal SunTrust Advantage Checking accounts opened online from July 2, 2019 through September 30, 2019. Enrollment in the promotion is required by providing the Promotion Code in the online application at account opening. Accounts opened without the promotion code applied will not be eligible to participate in the promotion. (See Account Opening & Enrollment Instructions below.)
  • You must be a new SunTrust personal checking client. Clients with an existing personal checking account with SunTrust (either as the primary or joint 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 January 3, 2019). The primary account holder of the participating checking account must be 18 years old or older at the time of account opening. SunTrust employee-designated accounts are not eligible for this promotion. Offer available only to U.S. residents with a U.S. address and a valid U.S. taxpayer identification number. The qualifying checking account must be opened online using the applicable promotion code and must have a mailing address in the following states: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, or the District of Columbia.
  • The reward will be credited to the new checking account up to 8 weeks after the Direct Deposit qualification requirement has been verified. “Advantage Checking Online Reward Q3 2019” will appear on the monthly checking account statement when the reward is credited to the account holder’s checking account. If the checking account opened in response to a Promotional Offer is converted to another account type or product, it may no longer be eligible to receive the promotional offer. SunTrust may report the value of any reward received through any offer to the Internal Revenue Service as required by law. Any applicable taxes are the responsibility of the recipient.
  • The new checking account must remain open and in good standing with a minimum balance of $0.01 until the reward is processed in order to receive the reward. If you close an account that was opened in response to a Promotional Offer, you are no longer eligible for that promotional offer and will not be able to receive any rewards applicable to that offer. 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.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees ($20)

Account required for this bonus has a $20 monthly fee. This is waived if you do any of the following:

  • Make $3,000 or more in total qualifying monthly Direct Deposits OR
  • Hold $10,000 total combined relationship balances linked across deposits and investments OR
  • Linked personal SunTrust Credit Card, Mortgage, or Loan OR
  • Linked Small Business Checking account

Early Account Termination Fee

You need to keep your account open for at least 180 days otherwise your bonus will be forfeit

Our Verdict

Previously you were able to earn up to $750, but that required a $100,000 balance so not possible for most people. This seems to be more equivalent to the $250 bonus that was offered, so in those terms this is actually an upgrade. A lot of people did the $500 bonus as that only required $25,000 for 90 days. Still that isn’t an option for a lot of people so this bonus might actually be better than the previous offer even though the maximum is much less. Because of that we will be adding this to our list of the best bank account bonuses.

Useful posts regarding bank bonuses:



20
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
AndreRamirez
AndreRamirez

Is it just me or does Florida have a disproportionate amount of these state-specific bank account bonuses? I don’t think its DoC’s fault, just an interesting trend I’ve noticed with banks.

Karsinogen
Karsinogen

Wisconsin too, but I think some people are just more enterprising about digging up bonuses from po-dunk local banks and CUs.

Dylan
Dylan

I recall seeing an explanation for this in the past — essentially, a lot of bank account bonuses are brought to DoC’s attention by users of the site, so if someone from Florida is particularly active in the sharing of bonuses, then you’ll see a bias towards bonuses that include Florida.

I think there is (or was) a prolific contributor in the midwest, so you’ll also see a lot of midwest-specific bonuses as well.

Hari
Hari

Salute to whomever that is from the Midwest

Daniel Wu
Daniel Wu

Does anyone know whether Suntrust will match the $250 checking account offer to this? I jumped on the $250 checking offer last month, and the bonus has not been received yet.

Hari
Hari

Suntrust! lol. This would by itself become a post of they do such sort of customer friendly moves 🙂 My friends personally have been having a lot of negative feedback from Suntrust than any other big banks they have dealt with.

Avi
Avi

Agreed, Suntrust is one of the worst banks I’ve dealt with. They’re good for the bonuses, but that’s about it.

bitcoin
bitcoin

Has anybody else gotten the following error? I guess that I’ll have to sign up at a physical branch.

We’re Sorry …
We are unable to verify your identity at this time.

Error code 130

Chris

I got that this morning. I found a BB&T offer that’s just as good but ends sooner, so probably better for me in the long run. I’ll circle back around to this and just go into a branch if I have to.

Lily
Lily

January 3rd, 2019, just missed by 5 days! Should have not prograsinated in closing the account before.

parrothead
parrothead

Can’t you downgrade this account to a fee free version once the bonus posts?

Avi
Avi

Yes

Sean
Sean

I just went in and did this. I got the $300 for personal, and $200 for biz. I got all fees waived on both accounts because of my “relationship” (opened a biz linked to personal) for 12 months on both accounts. I also got a free suntrust biz credit card (no credit impact – not even soft). All I have to do is put $1500 in the biz, and leave it there for 6 months (or maybe 12 if I like them).

The manager is begging me to come back to do checking line’s of credit, and anything else because of my credit score and cash reserves (828 score/Over 100K in other accounts).

creditGuyInDixie
creditGuyInDixie

I am planning to grab both the bonuses from Suntrust and IberiaBank. But I doubt I can time them so that I meet ST’s direct deposit requirement and also Iberia’s using payroll.

It looks from the data points that SunTrust is incredibly friendly toward counting non-payroll ACH transfers from many banks and CUs. (And that they dropped their policy of requiring that customers prove that these DDs match their payroll stubs.)

So would you guys say that the best plan is to use non-payroll ACH for the Suntrust DDs, and then before the Sept 20 deadline open the Iberia account and use payroll for that?

El Cheapo
El Cheapo

Spoke to an in branch banker who said that they offer a 2.25% money market promo period on $25k. The rate is for either 3 or 6 months (computer generated when applying), but the banker said that she could ask her superior to make sure it would be for six months.
IF this is legitimate, it’d be a good 6 month park ($581.25@4.65%) while waiting for the bonus period. I’m going to try it out in a few weeks if I don’t Chex out. Will update when I know more.

CreditHunter
CreditHunter

Thought I was going to be able to jump into this Q3 SunTrust bonus after getting one from them late last year, but 3 key words in their fine print terms make it impossible. Specifically: must not have closed a personal checking account within 180 days of the PROMOTIONAL START DATE (on or after January 3, 2019). I closed my last SunTrust account in early March of this year. So even though this promotion won’t expire till end of September, I wouldn’t be eligible in September anyway to sign up for this since the promotion started in July. Kudos to their anti-churn tactics. Hopefully they’ll launch a Q4 promotion in October for the same bonus amount.

Xinomavro
Xinomavro

8/7 – Schwab personal checking shows up as “SCHWAB BANK P2P”–that doesn’t bode well, will try again with Schwab brokerage

MikeC
MikeC

ACH transfers from Wells Fargo and Alliant CU do NOT count towards the direct deposit limit. I confirmed this by calling SunTrust on 8/16/19. They only count deposits flagged as payroll direct deposits.

Brian
Brian
Back to Top ↑