Get $75 bonus with Sovereign Free Interest Checking (direct deposit is required)

[markber]

Terms:

Open a new Sovereign Free Interest Checking account by May 30, 2008 with a minimum opening deposit of $100 and request a Visa CheckCard. 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 credit of $75 to your new checking account within 15 days after the expiration of this 60-day period. One $75 credit per customer. Your account must be open and in good standing in order for you to receive your account credit. Annual percentage yield (APY) of 0.10% for Sovereign Free Interest Checking. APY effective as of 3/29/08 and is subject to change at any time. Fees may reduce earnings. The amount of the account credit will be reported to the IRS as interest. Funds for opening deposit must come from another financial institution. Current personal checking customers or anyone who has had a personal checking account with Sovereign Bank or any of its divisions in the last 60 days are not eligible for this offer. Current employees of Sovereign Bank or any of its divisions are also not eligible for this offer. Cannot be combined with other offers.

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[responduser]

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 credit of $75 to your new checking account within 15 days after the expiration of this 60-day period.

Here what does "direct deposit" mean!

[cooliemae]

Direct Deposit a recurring deposit made automatically from other institution, these transactions show-up as ACH (Automatic Clearning House) transactions. The most common type of direct deposit would be from your payroll or pension, but most of the online banks (ING, Paypal, etc.) will allow you to set-up automatic payments that show up like direct deposits. Be careful to read the fine print some banks are specifically saying that Paypal transfers will not be considered a direct Deposit, but most will.

In particular, I was going to open up an account at Sovereign, but they wanted, as far as I could tell, to pull a hard credit check. I could be wrong and if so would some please correct me.

[responduser]

cooliemae,

Thanks for clearing my doubts.