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$100-$300 Gas Card for opening Sovereign Bank Free Checking Account Archived From: Finance

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http://www.sovereignbank.com/personal/promotions/winter08q1/gasrewards.asp

Gas card good in PA, CT, MA, MD, NH, NJ, NY or RI. Customers in PA get a Sunoco card, everyone else gets an Exxon/Mobil card. It's too bad that America's Best Checking, which offered ATM rebates, is not offered to new customers any more.

Personal Checking Account:
* $50 card for 6 debit card transactions in the first 60 days
* $50 card for direct deposit within first 60 days
* 0.1% interest paid on account balance
* Free Graystone-style checks

Business Checking Account:
* $200 card for 6 debit card transactions in the first 60 days

Chexsystems: Yes
Credit Pull: Yes - Soft pull

Routing/ABA #

If you opened your accounts in the New England region (Connecticut, Rhode Island, Massachusetts, New Hampshire), your Routing number is 011075150

If you opened your accounts in the Mid-Atlantic region (Delaware, Pennsylvania, New York, New Jersey, Maryland), then your Routing number is 231372691

How do I close my checking, savings, or money market account?

If the balance in the account is $500 or less, you may verbally request to close your account by contacting a Personal Banking Representatives at 877-768-2265, between 7 a.m. and 11 p.m., seven days a week.

Notable fees:

Early account closing (within 90 days) - $25.00

Inactive Account (no activity for one year and balance less than $250) - $12/month

When do you get your gas cards: You will receive your gas card(s) within 45 days after the expiration of this 60-day period (from account opening). In other words, you will receive the gas cards within 105 days from account opening.

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It appears the a personal account can be opened on-line while a business account can be opned over the phone.

Do both and received $300 in free gas.

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Where does it say that this offer is good only in certain states?
All I see in the fine print is this:
"If opening your account in PA, you can use your Gas Rewards Card(s) at all Sunoco locations. If opening your account in CT, MA, MD, NH, NJ, NY or RI, you can use your Gas Rewards Card(s) at all Exxon/Mobil locations."

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I would think it's good only in those states because the gas card only works in those states.

When I opened my America's Best Checking account with Sovereign (October '06) there was no hard pull. I don't know what counts for DD as I have my paycheck DDed there. I did get my account bonus on time, but that was $100 cash in my account, not a gas card.

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can anyone open a business account or you really need to have a business? thx.

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parksh69 said:Where does it say that this offer is good only in certain states?
All I see in the fine print is this:
"If opening your account in PA, you can use your Gas Rewards Card(s) at all Sunoco locations. If opening your account in CT, MA, MD, NH, NJ, NY or RI, you can use your Gas Rewards Card(s) at all Exxon/Mobil locations."

There are Exxons all over the US, so why wouldn't the card work at any Exxon?

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kingofms said:can anyone open a business account or you really need to have a business? thx.

Depends on the bank. Most banks require a business license or at least a TIN#.

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kingofms said:can anyone open a business account or you really need to have a business? thx.It's probably the same thing as opening a business credit card. Apply as sole prop, with SSN as TIN.

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do they count paypal as DD? anybody can confirm this?

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Or ING, EmigrantDirect, Citi, or anything other than payroll? Confirmation is highly appreciated!

fishzebby said:do they count paypal as DD? anybody can confirm this?

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Below is the terms & condition.

Does it mean I can cancel my account after i received the Gas Rewards Card?


*If you make at least 6 Visa CheckCard purchases within this same 60-day period, you will receive a $50 Gas Rewards Card.

**If a direct deposit is made to your new checking account within 60 days after the day you opened your account, you will receive a $50 Gas Rewards Card.

Open any new personal checking account and request a VisaŽ CheckCard by March 14, 2008. You can receive up to $100 in Gas Rewards Cards. You will receive your card(s) within 45 days after the expiration of this 60-day period. Your account must be open and in good standing in order for you to receive your card(s). Maximum $100 in Gas Rewards Card(s) per customer. Annual percentage yield (APY) of 0.10% for Sovereign Free Interest Checking, 0.10%APY for Sovereign Premier Checking when balance is less than $5,000 and 0.45%APY when balance is $5,000 and above. APYs effective as of 1/12/08 and are subject to change at any time. Fees may reduce earnings. The face value of the Gas Rewards Card(s) will be reported to the IRS as interest. If opening your account in PA, you can use your Gas Rewards Card(s) at all Sunoco locations. If opening your account in CT, MA, MD, NH, NJ, NY or RI, you can use your Gas Rewards Card(s) at all Exxon/Mobil locations. A minimum deposit of $100 is required to obtain bonus. Funds must come from another financial institution. Gas Rewards Cards have no cash value and may not be redeemed for cash at any time. While supplies last. Customers that currently have or have had a personal checking account in the last six months at Sovereign or any of its divisions are not eligible for this offer.

Open a new Free Business Checking or Business Checking Plus account and request a Business VisaŽ CheckCard by March 14, 2008, with a minimum deposit of $500. Then, if you make at least 6 Business Visa CheckCard purchases within the first 60 days after account opening, you get a $200 Gas Rewards Card. You will receive your card(s) within 45 days after the expiration of this 60-day period. Your account must be open and in good standing in order for you to receive your card(s). Maximum $200 in Gas Rewards Card(s) per customer. The face value of the Gas Rewards Card(s) will be reported to the IRS as interest. If opening your account in PA, you can use your Gas Rewards Card(s) at all Sunoco locations. If opening your account in CT, MA, MD, NH, NJ, NY or RI, you can use your Gas Rewards Card(s) at all Exxon/Mobil locations. Funds must come from another financial institution. Gas Rewards Cards have no cash value and may not be redeemed for cash at any time. While supplies last. Customers that currently have or have had a business checking account in the last six months at Sovereign or any of its divisions are not eligible for this offer. Offer expires 3/14/08.

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Is either the biz or personal a hard pull?

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I live in VA, is this deal available to those outside of the listed states? I mean I could physically drive to Maryland to open an account...

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I applied over the weekend, and put the required IDs and a check in the mail this morning.

But I got an email this afternoon saying that my app had been received, what documentation was required, and that the opening deposit could be a check-by-phone or "a small amount put on a debit or credit card".

No mention if it would be counted as a cash advance or purchase, but I thought it would be worthwhile to point out.

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Glitch99 said:I applied over the weekend, and put the required IDs and a check in the mail this morning.

But I got an email this afternoon saying that my app had been received, what documentation was required, and that the opening deposit could be a check-by-phone or "a small amount put on a debit or credit card".

No mention if it would be counted as a cash advance or purchase, but I thought it would be worthwhile to point out.

Max. of $100 to be funded via credit card. You can also e-mail a copy of your ID.

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Can anyone confirm if you need a valid business license or real TIN for the business account before I go for it? Thanks!

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Call and ask what is needed for a business account.

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I opened the personal account. She said that PayPal/MMA deposits don't count as direct deposit. I'll try it anyway, worst case I get a $50 gas card.

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