[Expired] SunTrust Up To $500 Checking Promotion [AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only]

Offer has now expired and is no longer being offered. Click here to view more bank bonuses.

Update 08/17/18: Offer is no longer available online but you can get it in branch or by calling in (877.302.8258). Unsure on what the new expiry is. Hat tip to @rolyexpress

Update 05/01/18: Bonus has been extended until July 31st, 2018 with a new promo code: Q218CHECKINGOL.

Offer at a glance

• Maximum bonus amount: $500
• Availability: AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA, and D.C Only
• Direct deposit required: Yes, $1,000 or $2,000
• Additional requirements: Deposit $100 and 10 debit card transactions
• 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: Up to $25, waivable
• Early account termination fee: 180 days or bonus is forfeit
• Household limit: None
• Expiration date: April 30th, 2018 July 31st, 2018 October 15th, 2018

The Offer

Direct link to offer

SunTrust are offering a sign up bonus of up to $500 on their checking accounts when you use the promotional code Q218CHECKINGOL:

• Earn $250 or opening the Select Checking
  • Deposit at least $100 within 14 days of account opening
  • Receive $1,000 in qualifying direct deposits within 60 days of account opening
  • Make at least 10 debit card purchases wihtin 60 days of account opening
• Earn $500 for opening the Signature Advantage Checking
  • Receive $2,000 in qualifying direct deposits within 60 days of account opening
  • Make at least 10 debit card purchases wihtin 60 days of account opening

The Fine Print

• Offer valid for new SunTrust personal checking accounts opened from May 1st through July 31st, 2018
• 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. “Q1 2018 Online Checking Offer Reward” will appear on the monthly checking account 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.
• Minimum account opening deposit for a new checking account is $100. In order to earn the reward, you will need to complete the $100 deposit requirement within 14 days. The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. All promotional payouts will be processed no later than December 31, 2018 at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
• 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 July 7, 2017).
• 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

Select Checking – $15 Monthly ($250 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 SurePay^SM12 OR
• Linked Small Business Checking account¹³

Signature Advantage $25 Monthly ($500 Bonus)

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

Our Verdict

Previously the bonuses have been $200 for select checking and $300 for Signature checking so this is better for both of those accounts. . At least one reader also had success going for the $500 bonus and downgrading via phone before any fees hit. I don’t expect SunTrust to come out with any better offers in the short term (they have offered $250 on the essentials account previously and that is easier to keep fee free than the select checking account). Considering you can get the $500 bonus and then downgrade without paying any $25 monthly fees this bonus is great.

It looks like the bonus will post within 8 weeks of meeting the requirements so you should be able to get the bonus within 2-3 months of account opening. Just keep in mind your account does need to be kept open for 180 days to avoid the early account termination fee. If you put the $25,000 into a basic savings account with a 1.5% interest rate you’d be earning $32.25 in interest or $195 over the 180 day period. You could also just pay the $25 monthly fee and you’d pay $150 over six months. Keep in mind you can just downgrade though.

I’d recommend the $500 bonus and then downgrade after it posts. This one is definitely going on our list of the best checking account bonuses.

Big thanks to reader, Yet Another Redditor who let us know. Learn how to find bonuses and contribute to the site here.

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