Deal has now ended, but there is a new $500 bonus.
Update 7/2/20: Deal is back and valid until September 30th, 2020. New promo code is Q320ADVANTAGE
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, 2019March 31st, 2020June 30th, 2020September 30th, 2020
Contents
The Offer
- SunTrust is offering a bonus of $400 when you open a new advantage checking account and complete the following requirements:
- Use promo code Q320ADVANTAGE
- 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:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
DP – Bonus-earning and account-closing data points:
– 8/11/2020 – Account (Advantage Checking) opened
– 8/25/2020 – ACH deposited/transferred $10000 into the account from E*Trade
– 8/28/2020 – ACH deposited/transferred $3050 into the account from Chase
– 8/28/2020 – ACH deposited/transferred $3100 into the account from Wells Fargo
– 9/30/2020 – ACH deposited/transferred $3050 into the account from Chase
– 9/30/2020 – ACH deposited/transferred $3100 into the account from Wells Fargo
– 10/30/2020 – ACH deposited/transferred $3050 into the account from Chase
– 10/30/2020 – ACH deposited/transferred $3100 into the account from Wells Fargo
– 11/19/2020 – $400 bonus deposited into account
– 9/9/2021 – Requested that account be closed (over-the-phone).
– 9/10/2021 – Account closed
How can I close this checking account?
Do I have to call any phone number?
Or is there something like an online secure message center to send a request?
You can use the Secure Messaging feature on the desktop site. Login -> Support -> Secure Messaging (may take a few seconds to appear)
Did anyone get a tax statement from them? They are telling me they wont be reporting it because I didn’t earn at least $10 in interest. I’ve explained I earned a $400 bonus and they just keep saying I didn’t earn enough interest. I know I need to report it regardless but this just seems insane to me.
I called in and got the same thing. I’m going to report it just in case because I have no idea wtf they’re doing.
did anyone try to convert to an ESSENTIAL ACCOUNT (which is much easier to maintain) after receiving the bonus?
This offer is still listed on the best bonus page. I see after checking here that it is actually expired.
Fixed, ty
DP $300 Savings bonus
I’ve met my 90+ days since account opening per the bonus requirements.
The next payout date per the Suntrust bonus payment schedule [3rd Thursday of the month ] should be on 19 Nov.
See here for explanation:
https://www.doctorofcredit.com/suntrust-300-checking-promotion-al-ar-fl-ga-md-ms-nc-sc-tn-wv-va-and-d-c-only/#comment-1063554
offers.suntrust.com
[checkmark] Deposit at least $25,000 in total new balances into your new Advantage Money Market Savings account within 30 days of account opening
[no checkmark posted but requirements already met]
Maintain a balance of at least $25,000 in the new Advantage Money Market Savings account for 90 days after account opening.
[Since my 90-days occurred on 25 Oct and past the 3rd Thursday of Oct 15, I now have to wait until the next bonus pay cycle of 19 Nov.]
Use this calculator to find out when your 90-day period since account opening occurs for Savings bonus.
https://www.timeanddate.com/date/duration.html
After the bonus either: [reduce balance to $10k or ACH $100 every month until you complete the 6-months period from account opening]
Requirements to Waive the Monthly Maintenance Fee:
• Set up an electronic transfer or electronic deposit totaling at least $100 OR
• Maintain a $10,000 minimum daily collected balance
The Monthly Maintenance Fee is waived for the Advantage Money Market Savings
account for each statement cycle in which an incoming electronic transfer or electronic
d e p o s i t t o t a l i n g a t l ea s t $ 1 00 o cc u r s OR a m i n i m u m d a i l y c o ll ec t e d b a l a n ce o f $ 1 0 , 000 i s maintained. ATM transactions and over-the-counter transactions do not apply. Please see
F ee S c h e d u l e a t s u n t r u s t . c o m / d i s cl o s u re s f o r f u r t h er d e t a i l s
$300 MM bonus payout tomorrow 19 Nov by end of business day for those who opened on July 2020. You will see it post to your account on the following business day.
Q320ADVMMA Q3 2020 Advantage Money Market Savings Offer Reward Pending
Has anyone tried to open this account using an address in an included state but have another account (mortgage) with them in a not included state?
Opened account for myself and P2 on 7/6. Started pushing 1000 a week from Chase Biz to both accounts, then sending it back with Zelle.
Bonus posted on both accounts 10/15.
I did manage to get my account locked with the amount of Zelle transfers, but I can still make payments with my debit card and pay off credit card balances, so I haven’t called to get it unlocked. I might do that now that the bonus has posted since I’ll have to continue transfers to keep the account fee free. I didn’t want eyes on the account before the bonus posted since I was using Chase as my DD. P2 didn’t have their account locked, but I am trying not to transfer money out right as soon as it hits the account. Overall, fairly simply bonus, especially since I was able to sign up myself and P2.
Account Opened July 7th.
Funded with an ACH through Fidelity.
Setup a recurring ACH of $3,018 and subsequent withdraw a few dollars less two days later.
July 10th, August 10th, Sept 10th, Oct 9th Deposits.
Bonus Posted October 15th.
Leaving the recurring ACHs open to keep the account fee free until January to close without penalty.
Signed up for $400 bonus / opened account July 1, 2020
Payroll deposit $3000 July 24
Payroll deposit $3000 Aug 26
Payroll deposit $3000 Sep 25
Still no bonus yet….
i guess you don’t read any post. The exact date when you will be paid is included in this thread if you bother to read beyond the first post.
Why are people so rude on this forum? Yes Tom, I’m talking to you.
A bit too sensitive are you Robert? I guess anyone stating the obvious makes them rude.