$300 Sterling Bank & Trust Checking Bonus (NY, CA)

Sterling Bank & Trust (SBT)

Sterling Bank & Trust is offering $300 bonus for opening their Sterling Eagle Checking account and making 2 qualifying direct deposit of $500 within 120 days of account opening.

As Sterling Bank & Trust is a regional bank, this offer is valid only in select states – NY and CA. The offer is valid on their branches only.

Sterling Bank & Trust Checking Bonus Summary

Bonus –$300

Account – Sterling Eagle Checking account

Diret Deposit – Yes, 2 DDs of $500 within 120 days

Availability – Select States (NY, CA)

Promo Code – Not required

Offer Expiry – No mention

Account Fees – No mention online (but there seems to be a fee as they offer a fee free Sterling Freedom Checking account) but waivable (see below).

Link for the Offer

Checking Bonus Requirements

1. Open a new Sterling Eagle Checking Account with a minimum opening deposit of $500 and must maintain a $500 balance to avoid fees.
2. Must have a minimum of 2 reoccurring $500 monthly direct deposits made to this account within 120 calendar days of account opening
3. Must also enroll in Sterling online banking to qualify.
4. The new Eagle Checking account must remain open throughout the 120-day qualification period and at the time we attempt to deposit any earned bonus payment.
5. After you have completed all requirements, the bonus will be deposited into your new Eagle Checking Account up to 130 days after account opening.

Checking Account Fees | How to Avoid It?

1. Sterling Eagle Checking Account – Unknown. To avoid it:

• Have a $500 balance in your account

BonusCoach’s List of Best Bank Account Bonus

Early Account Termination Fees

There is no early termination fee but the account must be open for 120 days to receive the bonus. We recommend to keep the account open for at least 6 months, preferably a year.

The Fine Print

1. Offer not available to existing Sterling checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 2 years. Offer good for only one time use and only for one new Eagle Checking Account.
2. To receive the bonus:

• 1) Open a new Sterling Eagle Checking Account with a minimum opening deposit of $500 and must maintain a $500 balance to avoid fees. All account applications are subject to approval;
• 2) must have a minimum of 2 reoccurring $500 monthly direct deposits made to this account within 120 calendar days of account opening. Your direct deposits needs to be an electronic deposit of your paycheck, pension, or government benefits (such as Social Security) from your employer or the government. Person to person payments (such as Zelle), transfers from one account to another, mobile deposits, deposits made at a branch, or ATM does not qualify as a direct deposit
• 3) Must also enroll in Sterling online banking to qualify.

3. Bonus Payment: The new Eagle Checking account must remain open throughout the 120-day qualification period and at the time we attempt to deposit any earned bonus payment.
4. After you have completed all requirements, the bonus will be deposited into your new Eagle Checking Account up to 130 days after account opening.
5. Bonus is considered interest and will be reported on the IRS Form 1099-INT.

Final Thoughts

This is a decent bonus for opening a checking account and having two direct deposit of $500 monthly within 120 days. The offer is valid in branches only and you have to go to branch and mention about the offer – there is no promo code. The offer also has no expiry date as of now – they have only mentioned that they can end the offer anytime at their discretion.

There is not much information online about the account fees but it seems like having a balance of $500 will waive the monthly fees.