SunTrust Bank is among the myriad financial institutions currently touting a variety of new bank account offers, with SunTrust’s offer valid through the end of March and perfect for anyone who loves, well, free money.

There are some requirements for you to meet if you’d like to take advantage of this deal, and if you do, the reward is pretty sweet — anywhere from $300 to $1,000 just for starting a banking relationship with SunTrust. This is one way that banks compete for your business, since to the average person, there’s not a lot of difference, seemingly, from one bank to the next. Most people just need a place where they can park biweekly paychecks, where their money will be safe in a checking account, that kind of thing. All banks offer that, plus all of the digital conveniences you expect, so how can they stand out? Cash bonus offers like these are one way.

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Here are the details of SunTrust’s bonus cash offer of up to $1,000:

You’ve got to open a new eligible checking account, as well as any SunTrust savings or money market account. Eligible accounts include the following products: SunTrust Advance Checking, Essential Checking, Essential Savings, and Advantage Money Market. Once you’ve opened your checking account, you’ve then got two other steps to complete, one of which is making direct deposits of at least $500 in total within 90 days of opening your account.

For your SunTrust savings or money market account, you’ve got to deposit and keep at least the following amounts in your account for 90 days. If you’re depositing less than $10,000, you’ve got to deposit and keep $300 in your account for 90 days. The amounts go up as follows:

  • For accounts with $10,000 — $24,999.99 = $400
  • $25,000 — $49,999.99 = $600
  • $50,000 — $99,999.99 = $800
  • $100,000 or more = $1,000

You’ll get your cash bonus deposited into the new checking account that you open within four weeks of meeting the requirements above. Also important to note, this offer is open to residents of the following states: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia, as well as Washington DC.

There are a few other additional caveats and requirements to mention, so be aware of these, too, if you want to try and snag the free money:

  • Use the promo code CHKSAVQ121 to qualify for the cash bonus if you’re applying online. If you apply for a new account in person, enroll in the promotion at that time.
  • It should probably go without saying, but you have to keep your checking account open and in good standing, with a positive balance, to get the bonus. Also, this is only for new personal checking account customers. It doesn’t appear that you’ll be able to open an additional checking account with SunTrust, if you already have one, just to get this money.
  • Applicants must also be 18 years or older, have a US address, and have a valid US taxpayer ID number.

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Andy is a reporter in Memphis who also contributes to outlets like Fast Company and The Guardian. When he’s not writing about technology, he can be found hunched protectively over his burgeoning collection of vinyl, as well as nursing his Whovianism and bingeing on a variety of TV shows you probably don’t like.