Posted by William Charles on April 3, 2020
Bank Account Bonuses

Published on April 3rd, 2020 | by William Charles

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SunTrust $400 Checking Promotion [AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only]

Update 4/2/20: Deal is back but has been increased from $300 to $400 with the same requirements. Hat tip to reader Jakefromstatefarm

Update 3/12/20: Deal is available again. Hat tip to reader Jesse

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 January 2nd, 2019 March 31st, 2020 June 30th, 2020

The Offer

Direct link to offer

  • SunTrust is offering a bonus of $400 when you open a new advantage checking account and complete the following requirements:
    • Use promo code Q220ADVANTAGE
    • 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:



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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

JR
JR

I swear, I’m going to open up a PO box in FL or some other sun belt state, just so I can have a local address for these state specific bonuses

PS it probably won’t work, but hey…

AllwaysLearning22
AllwaysLearning22

Great minds think alike 🙂

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).

Sean
Sean

Datapoint
Update 11/15/19
– Opened account on 07/28 (ish). $300 Biz and $200 Personal
– Fulfilled DD for 3 months straight on personal (didnt want to pay 3 dollars to transfer online)
– Withdrew paycheck every two weeks for 3 months straight
– Maintained $1500 minimum in Biz
– Receved $200 Biz on 08/15
– Received $300 Personal on 11/15
– Closing both 01/11/2020 – Approximately 190ish days.

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.

RB
RB

BB&T and SunTrust are scheduled to be merged into one bank TRUIST in Q4. So most likely SEP 30th will be the last day of SunTrust bonuses unless the merger gets delayed and pushed in Q1 of 2020.

Xinomavro
Xinomavro

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

abourne307
abourne307

Did that work for you?

Xinomavro
Xinomavro

Chase biz posted as JPMC EXT TRNSFR, so fingers crossed that that works. Just did the second transfer, so we’ll find out within a few (8?) weeks.

Xinomavro
Xinomavro

Checked via the offers page, shows that I met the condition on 10/4, reward pending, looks like Chase biz works!

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
Doggo
Doggo

Why would you call the bank… smh

Gadget 🕵️

Tried funding with BofA Premium rewards Visa, Citi DoubleCash MC, and Barclay CashForward MC. (All were preset to less than $250 CA Limit) None went through. Then, after 3 tries, page said I had to fund via ACH or Check in branch, or mail.

However, the funding page is crap. I also tried to do ACH funding, and every time it told me my RTN was incorrect. I tried like 6 different banks and CU’s… and not tiny banks either. PNC, NFCU, Hancock Whitney, USAA, etc. Maybe midnight eastern time on a holiday is not the best time to try though.

Gadget 🕵️

Account approved, awaiting funding.

One thing I did like about the Suntrust application – it specifically states: “Before you apply, you’ll need to temporarily lift any freeze placed with Equifax and TransUnion. We’ll use your credit info to verify your identity.”

Now waiting for my offer to show up on https://offers.suntrust.com. Currently shows the previous time I completed an offer, not “Q319ADVCHKOL” yet.

William Charles, you may want to include this info in your article, as they have removed references to the bonus tracker, and I think the CRA info is new. Now that more & more people are freezing CRA’s, I am sure it becomes an issue often.

Patti
Patti

Yes! We recently had to freeze dh’s credit for the 1st time and not thinking I applied for 2 accounts and they say to come apply in branch. PITA

Drew
Drew

Can this bonus be redeemed in a branch? I had trouble opening an account online. I used the link above. During the authentication phase it asked me about loans that I never had.

After I selected “none of the above” for both authentication questions it said “We are unable to verify your identity at this time. Error code 130. Please visit a branch or call us for further assistance.”

Anyone have any advice? Thanks!

Gadget 🕵️

Yeah, when you go to the Suntrust promo page, below the OPEN NOW button, there is a link that says “Or open at a Suntrust branch with a coupon”. That e-mail will have the offer details, and the only different in the promo code is it ends in BR (presumably for branch) VS OL.

Once upon a time the BR code was for $500, and the OL online code was $300. Sorry if that makes you sad… but better $300 than the unknown when they become Truist.

If they can’t verify your identity, make sure your Transunion and Equifax CRA’s are not locked or frozen. It specifically states they check them – but, they are soft pulls. They also pull EWS, but not Chex IME.

Drew
Drew

Great! Thank you.

Jay
Jay

Anyone got the bonus yet?

Chris

DP:

I attempted to fund this with $250 on a Bank of America credit card that has a $200 cash advance limit and this was rejected. Hard to confirm, but guessing it was attempting to code as a cash advance.

RB
RB

I will be doing real employer Direct Deposits for first 2 statement cycles to get the $300 bonus..

But I would like to know if a monthly $3000 transfer from Wells Fargo would count as a Direct Deposit and avoid the monthly fee that way I can keep the account open for 6 months avoiding the early account termination fees and not have to maintain a $10K balance.

Snowbird
Snowbird
RB
RB

Thanks!

Duke I.
Duke I.

If you’re doing the business account promo too you can link both personal and business to avoid monthly fee. I did it yesterday via chat.

RB
RB

Thanks! But I don’t plan on doing the business account.

El Cheapo
El Cheapo

I just opened the checking for the $300 (3K DD for 2 cycles within the first 3 months) promo as well as a money market with a locked in 2.25 APY FOR 12 MONTHS (no promo code, minimum 10K). The first month is 2.10 APY for some reason…then 2.25 locked for 12 months.

This required me physically going to branch, asking about the current 2.40 APY offer, and spending about 2 hours with the Vice President of the local branch with multiple phone calls.

I confirmed that the 2.40 APY( $100 minimum) is not guaranteed for any length of time…likely a teaser rate.

This is not a widely publicized offer, but the VP was fine with me sharing this info online to attract new business.

I have a printed internal bank document stating that both the $300 bonus and 12 month, 2.25 rate can be used separately or together, which I can show if someone tells me how to uploads documents.

It does state that both offers are only offered by targeting, but I was able to circumvent this
with a branch visit.

According to the VP, the merge with BB&T forming “Truist Bank” will not negate these terms. If this pans out, I will be parking my money here for the next year, as both Suntrust and BB&T are local to me.

Snowbird
Snowbird

Extended through January 2, 2020 with the same direct link to the offer. The new promo code is Q419ADVCHKOL. You may not have closed a personal checking account on or before April 4, 2019 to qualify.

Looks like they haven’t activated the code yet, so I’ll try it again later this AM.

Snowbird
Snowbird

Code was activated when I tried again yesterday afternoon. P1 & P2 opened accounts.

IS250
IS250

Extended until 1/2/20.

IS250
IS250

DP –
1. Not EWS sensitive in branch. 2nd time opening an account at the 6 month mark. My old profile had all my information beforehand so the banker knew the deal (going for the bonus again).
2. CC funding in-branch is cash advance.
3. You can waive the monthly fee if you also have a business account (even Simple Business account counts). This linking must be done with a special form through the banker. This will come in handy so you don’t even need to downgrade to an essential checking account later.
4. You get a confirmation printout of the bonus on top of an email confirming you’ve been enrolled in the bonus offer.
5. No instant issue debit card. Starters checks included. Regular checks for a fee You can decline overdraft.
6. Was told monthly fee is waived for the first two statement cycles.

JP
JP

So I see in the terms that mailing address should be in one of the listed states. Does that mean if I am in non targeted states, I can still open if I give my mailing address belonging to one the targeted states? Anyone tried this way?

Last time I did this I went in branch but its little far and don’t want to make the trip.

Yet Another Redditor
Yet Another Redditor

William Charles Chuck SunTrust $300 Checking extended to Jan 2, 2020. Same link

sarrisa
sarrisa

Bummer I didn’t read all the fine print. I applied in July and made DD July and August but stopped in September so looks like I won’t be getting the bonus.
“**The statement cycle for the month in which the new checking account was opened will not be evaluated. For example, if your new checking account is opened in the month of August, the full statement cycles for September, October, and November will be evaluated for the Direct Deposit qualification requirement. Clients will qualify once they have met this requirement for two consecutive statement cycles.

El Cheapo
El Cheapo

Have pushed 3K from both Ally and Goldman Sachs (both set for reoccurring transfers). They’ve both coded as P2P. Does anyone know if this will count? Data Points suggest that both banks work.

Wayne
Wayne

My experience with P2P is it does not work.

Avi
Avi

My experience is that whether it says “P2P” or not doesn’t have much bearing on whether it codes as DD.

Duke I.
Duke I.

My $3000 push from Wells Fargo to Suntrust codes at DDA to DDA. When I check the offer’s status website it shows half way completed.

Doggo
Doggo

Where can you check offer status? Is it through online banking?

Duke I.
Duke I.

Doggo
Offers.suntrust.com

Doggo
Doggo

Thanks! So what does “half way completed” looks like on the status checker? Is the bar halfway filled, or does it say 50% done or something? I checked and it’s just an empty bar even though I did do WF ACH too.

Avi
Avi

I can confirm that my Ally ACHs all coded as “P2P” and bonus received in Jan 2020.

Charlie R.
Charlie R.

FWIW, people have have ACH transfers code as P2P in the past and they counted as DD for SunTrust bonuses. For example: https://www.doctorofcredit.com/suntrust-500-checking-promotion-al-ar-fl-ga-md-ms-nc-sc-tn-wv-va-d-c/#comment-560823

Scott A Golembiewski
Scott A Golembiewski

I gave the website my 85122 (AZ) zip code and it allowed me to proceed through to account creation with the coupon code for the offer… Is that normal?

HankZ
HankZ

Have you opend the account?

HankZ
HankZ

Is there any DP to get the bonus out of state online?

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