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Terms:

In order to qualify for the $100 cash bonus you need to do all of the following: (1) open a new Business Checking account by July 1, 2011 with a minimum opening deposit of $100; (2) open a Sovereign business money market savings account with a minimum opening deposit of $100 or already have a business money market savings account; (3) enroll in Business Online Banking when you open your new Business Checking account; (4) request a Sovereign Business Debit MasterCard® when you open your Business Checking account; (5) you must make 3 purchases with your Business Debit MasterCard® within 60 days from the end of the month in which your Business Checking account was opened. When you qualify, your cash bonus will be credited to your new checking account within 75 days of the end of the month in which your account was opened. The account must be opened in order to receive the bonus. One $100 credit per business entity as identified by taxpayer identification number (TIN). We reserve the right to decline to open an account. The amount of the bonus credited to the account will be reported to the IRS as interest for the year in which it is paid. Customers that currently have or have had a business checking account in the last year at Sovereign Bank or any of its divisions are not eligible for this offer.