Did you get a mailer from Synovus Bank offering a eye-watering sum for opening an account? If so, we have all the details below in an easy to read explanation.
Synovus Bank has a great targeted offer right now – you can get up to $600. This is targeted, so you need to have received a mailer.
Before we get to the offer, some minor housekeeping. Synovus Bank is a regional bank that is FDIC insured with Certificate #873. They have locations in five states – Alabama, Florida, Georgia, South Carolina, and Tennessee – and a little more than 250 branches.
It has a decently sized geographic footprint but limited to just the south.
Now, onto the offer:
💵 U.S. Bank – up to $700
Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
Synovus Plus Checking – up to $600 [Targeted]
This offer is a two part offer:
- You can get $150 when you have 15 qualifying Visa® debit card purchase/debit card transactions within the first 60 days of your new Plus Checking Account opening;
- To get $450, you must have qualifying direct deposits of $1,000 posted to your new Plus Checking Account within the first 60 days of account opening.
You will need a promo code to take advantage of this offer, which makes it targeted.
There is a $10 monthly fee that you can get waived if you:
- A member of the military community
- Minimum $10,000 relationship balance
- Minimum $5,000 monthly deposits
- Minimum $500,000 business relationship balance
(Offer expires 7/26/2024)
How Does This Offer Compare?
Pretty good!
Sadly, it’s targeted so unless you received this offer in the mail, you can’t get it.
The $600 bonus is much higher than some of the other new account promotions I’ve seen and you can get it by a high deposit or a high monthly direct deposit. You don’t need both to qualify for this offer and it’s an account with no monthly fees.
The only downside is that it’s limited to five states – Alabama, Florida, Georgia, South Carolina, and Tennessee.
Here are some nationwide and regional offers to give you a sense of how it stacks up:
Barclays – $200
Barclays Bank will give you a $200 if you open a new savings account and deposit $25,000 or more within 30 days and maintain at least $25,000 for the next 120 days. The savings account also pays a competitive interest rate of 4.35% APY while you wait.
BMO Relationship Checking – $400
BMO Bank is offering a $400 bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $200 Bonus Offer
Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $300
Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
HSBC Premier Checking – up to $4,000
HSBC has an offer where you can get up to $4,000 for eligible new customers who open an HSBC Premier checking account, make a sizable deposit, and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.
