If you live in the northeastern United States, need a bank account, and could use an extra hundred fifty bucks… do I have a bank deal for you. Sovereign Bank is offering a $150 cash bonus for new checking and savings account customers. The requirements are fairly standard – setup a checking and a savings account, enroll in online banking, and make five debit card transactions. In terms of bank deal requirements, it’s reasonable.

Here is the promotion page where residents of CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI, WV, VT, and Washington DC can find out more (sorry, no one else is eligible). This expires May 28th, 2010. More details after the jump.

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With the economy on the road to recovery (we hope!), banks are getting back into the business of banking. What that means is an increase in the number of bank deals floating around, like new account bonuses.

This week, the promotion of note is one offered by M&T Bank (MTB). They are offering up to $150 in new account bonuses when you open a new checking account. The $150 is broken up into three phases:
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With the economy recovering, banks are starting to roll out their new account promotions where you can earn a little bit of money to change banks. The offers are usually in the $100 – $200 range, and usually require a direct deposit and some bill payments before the bonus is paid. Banks recognize there’s tremendous competition in the marketplace, especially since they can’t compete just by offering a free checking account option.

This particular offer from SunTrust is special in that it has absolutely no direct deposit requirement whatsoever, it seems to be purely about bill payment. New customers can earn $150 over the next four months by making three bill payments a month while existing customers can earn $100 over the next three months by making three bill payments a month. Usually these offers require you to be a new customer and direct deposit your paycheck.

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WTDirect is offering a cash bonus of up to $150 depending on how much you deposit initially.

• $150 bonus for $50,000 balance
• $100 bonus for $40,000 balance
• $75 bonus for $30,000 balance
• $50 bonus for $20,000 balance
• $25 bonus for $10,000 balance

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