Posted by William Charles on July 6, 2017
Bank Account Bonuses

Published on July 6th, 2017 | by William Charles

136

SunTrust Up To $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, $500+
  • Additional requirements: 10 debit card transactions + use promo code
  • Hard/soft pull: Soft
  • ChexSystems: Unknown 
  • Credit card funding: Up to $250 (lots of reports of it coding as a cash advance)
  • Monthly fees: Up to $25, waivable
  • Early account termination fee: 180 days or bonus is forfeit
  • Expiration date: December 31st, 2016 January 9th, 2016 March 30th, 2017 July 3rd, 2017 October 2nd, 2017 January 2nd, 2018

The Offer

Direct link to offer

  • SunTrust are offering a sign up bonus of up to $300 on their checking accounts when you use the promotional code Q417CHKNG123OL:
    • Earn $100 for opening the Essential Checking
    • Earn $200 or opening the Select Checking
    • Earn $300 for opening the Signature Advantage Checking
  • You also need to complete the following requirements:

 

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 January 6, 2017).
  • The primary account holder of the participating checking account must be 18 years old or older at the time of account opening.
  • Employee-designated accounts are not eligible for this promotion.
  • 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 with an address 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, the applicable reward will be credited to the new checking account up to 8 weeks after all qualifications are met. “Q4 2016 123 Online Checking Offer Reward” will appear on the checking monthly statement when the reward is credited to the account holder’s checking account. The reward amount will be based on the type of checking account open when SunTrust verifies that all promotional offer qualifications have been completed. This promotion is only applicable once per client. 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 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 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.
  • Direct Deposit: A qualifying Direct Deposit is an electronic credit of your salary, pension, Social Security or other regular monthly income deposited to your account by your employer or an outside agency. Transfers from one account to another or deposits made at a banking location or ATM do not qualify as a Direct Deposit.
  • Complete at least 10 qualifying PIN Point of Sale or signature-based purchases using your associated debit card* within 60 days of account opening. ATM withdrawals and withdrawals at a branch using your debit card are not qualifying transactions.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Early Account Termination Fee

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

Essential Checking – $7 Monthly ($100 Bonus)

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+

Select Checking – $15 Monthly ($200 Bonus)

The $15 monthly fee is waived if you do any of the following:

  • Make $2000 or more in total qualifying monthly Direct Deposits10 OR
  • Maintain a $2000 minimum daily Select Checking balance OR
  • Hold $10,000 total combined relationship balances linked across deposits, investments, mortgages, and loans11 OR
  • SunTrust First Mortgage with SurePaySM12 OR
  • Linked Small Business Checking account13

Signature Advantage $25 Monthly ($300 Bonus)

Avoid the $25 monthly maintenance fee with $25,000 minimum daily balance in linked deposits and investments

Our Verdict

Update: It doesn’t look like a new offer is coming so probably makes sense to go for this bonus. At least one reader also had success going for the $300 bonus and downgrading via phone before any fees hit.

Previously you’ve been able to get a $250 bonus from just the Essential checking account, so the only bonus that is better is the Signature Advantage account but that requires a massive $25,000 to keep it fee free. Personally I’d probably recommend just waiting until this offer expires and seeing what they offer next as this offer doesn’t make much sense (you’d be better off putting that $25,000 into a high interest savings account). You can view our list of what we think are the best bank bonuses here.

Big thanks to reader, Caroline K who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

Useful posts regarding bank bonuses:



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escot
escot

thanks for the ending verdict — and helpful comparative context. Will wait it out he’uh in VuhGinyah.

(PS….. I’m reading to “walk-all-ovya” to We’ll-go-far with your money — and remove my accounts therefrom….. Had an account there with them — and their predecessors — going back 2 decades. Recently irritated as h*ck that they gave me the third degree when I gave them a travel notice…. they made ME feel like a suspect for going out of the country….. and now I find out what or organized criminal syndicate We’ll-go-far has been all these years.

David M
David M

Any thoughts on going for the $300 bonus and then downgrading after the 8 weeks?

jackgopack4
jackgopack4

well did ya try it?

jackgopack4
jackgopack4

edit: the language says this:

“After meeting the qualification requirements, the applicable reward will be credited to the new checking account up to 8 weeks after all qualifications are met. “Q4 2016 123 Online Checking Offer Reward” will appear on the checking monthly statement when the reward is credited to the account holder’s checking account. The reward amount will be based on the type of checking account open when SunTrust verifies that all promotional offer qualifications have been completed.”

The only language about rescinding the bonus is if the balance drops below $0.01 or is closed/not in good standing within 180 days of opening. So if I can set a $500 direct deposit within three weeks, add up to eight weeks for the bonus, would pay up to $75 in fees before downgrading to Essential, making $225-$250 instead of $100 for the Essential account req’s. I think I’m gonna give it a shot.

jackgopack4
jackgopack4

Bonus posted already. No fee has been charged yet, but I read somewhere else that SunTrust waives fees for the first two months as a courtesy. I’m keeping my account at this level until my Suntrust Elite CC bonus posts (since it’s a 25% bonus for having Signature Advantage vs 10% bonus for any other suntrust checking account), but will be downgrading soon after that.

Owen
Owen

Any update on this?

Jason
Jason

They remove the promotional code from my application after I enter my zip code that is not in the listed states, but still allow me to continue with the application. I stopped right there and without going further to open up the account, so didn’t know whether or what CC would work for funding.

Jason
Jason

By the way, it’s a yes to Chex System.

Bill
Bill

Has anyone looked into whether this account can be opened up in the branch? While you can’t fund with a credit card, if you’re a resident of another state but passing through their territory, sometimes that works to allow you to open the account and collect the bonus.

Lily
Lily

Just to comment on the credit card funding amount. I applied on the 19th, the very last day of their previous promotion ($250) and the maximum cc funding was $250 (I first tried $500 and the error message pops out and said $250 maximum), so i funded with my captial one card and everything went through fine with a new account number generated right away. However, 2 or 3 days later i received an email saying my cc was declined so the funding didn’t go through (very strange because i swear i received the confirmation screen saying the funding was successful). I called them and at first the rep couldn’t tell me why it was declined so i gave her a different cc to charge and then she told me the maximum cc funding is $100, “oh yeah, that must be why your initial funding couldn’t go through,” she said. I’m not confident she knew what’s talking though.

Linda
Linda

I opened a Suntrust acct. for the $250 bonus that just expired. The application would not complete processing online so I had to finish the opening in a branch. I funded it with $100 cash, but also added $100 by phone using Citi Hilton Visa. That was the highest amount the phone rep would allow. It has now processed as a cash advance with a $10 fee and $1.12 interest. No points earned for the Visa charge. First $500 from Ally pushed September 8; so far no bonus received. Darn, but at least it wasn’t a more expensive lesson. I wanted to post as FYI for anyone opening for the Suntrust $300 bonus.

Linda
Linda

An update to my comment above — I received the first $125 bonus in my Suntrust account October 3. Yay! I’ll see this offer through by pushing $500 each month from Ally.

John
John

Watch out with Suntrust. I just did a Lighstream loan and a week later my identify was stolen.

jackgopack4
jackgopack4

I think LightStream is a different login/website, no?

Not that it makes it any better that that happened to you; sorry to hear it.

Frank
Frank

Offer extended to Jan 9th

Leah
Leah

Hi Frank, sorry to bring this up, but my bank incorrectly applied a Q4 promotion on January 4 and is now saying there was no active promotion. Where did you learn this promotion had been extended?

sloebrake
sloebrake

Offer extended to March 30, 2017

Yosh
Yosh

Has anyone outside of the listed states/areas tried applying online? If so, did you still receive the bonus?

Adrian
Adrian

I just tried. Entered zip code from an eligible state and proceeded with application using my NV information. After entering all my info and hitting Continue to the Verification section I was prompted with…

We’re Sorry…

The Signature Advantage Checking Special Offer is not available in your area. Please click below to continue applying for your Signature Advantage Checking account.

So they’ll let you apply for an account but without the bonus.

Anita
Anita

It’s been well over 8 weeks and no bonus…
opened 11/29,
dd $500 (ach Ally… coded as P2P tho) on 12/2
completed 10 debits by 12/21
Anyone else actually get the bonus?
Did it take more than 8 weeks?
They say 8 weeks after requirement met? Could they mean 8 weeks after the statement closes in which you met requirements. Any recent datapoints on Ally ACH???

Thanks all… this is a great community!

Chris
Chris

2017/01/08 – Select Checking account opened
2017/01/10 – USAA ACH coded as P2P
2017/01/13 – WF ACH DDA to DDA
2017/01/30 – 10 x $.50 card transactions (Amazon reload)
2017/02/16 – $200 MISCELLANEOUS CREDIT Q4 2016 123 ONLINE CHECKING OFFER REWARD

Yoshi
Yoshi

For your reference, DOC:
The code is different than the one currently listed on this page. Looks like it updated to “Q117CHKNG123OL” (not “Q416CHKNG123OL”) sometime around January 10, 2017. It autofills correctly if you use the direct link above.

DT
DT

Offer extended again to July 3 (with new code “Q217CHKNG123OL”).

https://www.suntrust.com/Microsites/Checking/checking-offer/index.html

wendy
wendy

I enrolled on jan 9 through the link at the top of this page, made transactions necessary to qualify for bonus, sent a secured message to enquire about the bonus and rec’d this message back: I have reviewed your account and see that your account is not enrolled for promotion offer. In order to enroll for promotion offer, I would request you to visit the local branch.

Gadget
Gadget

Applied online – approved instantly. CC funding (in VA) for Select checking is absolutely limited to $250 for CC. And, even though confirmation page said: “Congratulations! We have successfully initiated your transfer from Visa – last 4.” it is not showing up on my Chase account, so I think it got denied. Phone isn’t ringing from Chase fraud dept, so I am assuming Suntrust coded as CA and it did not go through.

DP: Chase U/L Visa – likely failed due to CA limit being preset to $20.

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